LLI Head of Turkey Operations, Ms Ozlem Kocanaogulllari is in London until 4th May 2008.She is atending "A Place in the Sun" with our team - 25 April 2008.
We will be attending A Place in The Sun Live in Excel Exhibition Center on 25th-26th-27th April. Please feel to email info@londonlegalint.co.uk should you wish to meet us during the exhibition. Also Ms Kocanaogullari is available for your queries until 4th May, please call 0207 7499191 to book an appointment with her.
Turkish Parliament’s Move to Regulate the Turkish Property Market – 16 April 2008
After the recent judgment of the Turkish Constitutional Court we announced that we were expecting the Parliament to make a move and eliminate the current confusion and anxiety surrounding the Turkish property market. It seems now that the Parliament is doing this by way of adopting a new act on the right of the foreign individuals and companies purchasing property in Turkey. Until this legislation is finalized by the Parliament the General Directorate of Land Registry ordered a temporary suspension to the title deed transfer to the foreign individuals and companies. Given the urgency of the situation we expect the Government and the Parliament to finish work on the new act in the next couple of weeks so as not to cause any damage to the market. Indeed the Turkish press today reported that the new act has been presented to the Cabinet. We will continue to post updates on this matter until it is resolved.
New Portuguese/Spanish Department - April 2008
London Legal International has just launched its Portuguese/Spanish Department which offers a wide range of services. The head of the Department is Ms Drew Webster, who has extensive experience in Portuguese/Spanish legal and administrative matters. More information is available on our 'Services' page.
Constitutional Court Judgment on Turkish Foreign Direct Investment Law - 20 March 2008
This week the Turkish Constitutional Court in Ankara cancelled Paragraph D of Article 3 of the Foreign Direct Investment Law which allowed the foreign companies to “freely acquire real estate, or limited rights in rem through a legal entity in Turkey established or with participation by foreign investors, provided such acquisition are permitted for Turkish citizens”. We realize that this judgment already caused quite an excitement in Britain which compelled us to publish this message.
Firstly, it should be emphasized that this judgment does not affect individual buyers who have bought, or are in the process of buying property in Turkey. The annulled paragraph only includes the ability of companies investing in Turkish real estate. Also because the judgments of the Court are not retroactive it will not affect companies who have already invested in Turkish real estate.
Secondly, we will not know the details of the judgment until it is published in the Turkish Official Gazette. This can take up to several months and according to the judgment the cancellation will come into effect only SIX months after the publication of the judgment in the Official Gazette. This means it will take between 6-12 months for the judgment to become effective. What is more important is the fact that the Court grants 6 months to the Parliament to correct the deficiencies of the law. Because the judgment is not yet published it is not appropriate for us to speculate on the reasoning of the Court, however we know that the application to the Court was based on the fact that Paragraph D of Article 3 did not require reciprocity. Therefore it may be that the judgment will argue for adding the reciprocity condition to the Law. Reciprocity is already required for foreign individuals investing in Turkish real estate and extending this to companies will certainly not affect British citizens or companies in any way. Another possibility might be introducing a certain limit to the total size of land that may be purchased by companies. Again such a limitation already exists for foreign individuals.
At this moment we want to reassure you that this judgment is not a step backwards. We remain confident that it is not the intention of the Court to stop companies owned or participated by foreign individuals to invest in Turkish real estate, because with this judgment the Court also rejected two more claims made against the Law. It should be better interpreted as a piece of advice in appropriate lawmaking.
Notarial Services from London Legal International - February 2008
After having been inundated with queries regarding notarial services, we have just introduced a notarial services package. We are now able to draft your documents for use in Turkey (especially powers of attorney) and arrange for them to be certified by various notaries we work with across the United Kingdom. We do also arrange for the documents to be apostilled by the Foreign and Commonwealth Office in London, which is a formal requirement that renders validity upon them before Turkish authorities. The whole process typically takes about 2-3 working days.
For queries and estimates please email notarial@londonlegalint.co.uk.
New Offices in Antalya and Ankara - February 2008
London Legal International launched its two new offices in Antalya and Ankara. Due to the increasing interest on the Turkish Mediterranean coast we have just lauched an office in Antalya as well. The head of our Antalya office is Ms Helin Berfin Akyuz who is an expert in international transactions and company/commercial as well as property law.
Another new office has also been launched in Ankara to meet the demand for professional and independent legal advice from foreign individuals and companies whose investments go beyond the Turkish property market. We are proud to say that we are very strong in Ankara which is the capital of Turkey and where major decisions are made. Ms Ozge Cinar Demir is the head of our Ankara office where she is accompanied by eight lawyers.
London Legal International at Pronet Professionals Event - February 2008
Our company director Ms.Burcu Orhan was one of the speakers in Pronet Law Professionals event. Burcu spoke about her own experience of establishing a business in the UK. The event was very well attended and was particularly popular among the Turkish university students in the UK. Other speakers included Alper Ali Riza QC and Yuksel Sayiner, senior counsel at Accenture.
Turkish Mortgages - January 2008
We are delighted to announce that we can now represent you throughout your Turkish Mortage applications. We have contracted an experienced Turkish mortgage advisor in order to be able to oversee the whole process from both financial and legal perspectives.
Please contact us for your free quote.
Case Management - January 2008
After receiving many queries from individuals and companies in Turkey, we have decided to introduce a case management scheme which will enable us to assist those in need of legal advice and representation from a 'solicitor' in the UK.
Please contact us with your query.
* Bu doğrultuda gelen birçok soru ve talep neticesinde Türkiye’de olup İngiliz hukukuna ilişkin meseleleri olan kişi ve kuruluşların bu ihtiyaçlarına da cevap verebilmek amacıyla beraber çalıştığımız İngiliz avukatlar aracılığıyla danışmanlık hizmeti vermeye başlamış bulunuyoruz.
Soru ve taleplerinizle ilgili olarak bizimle temasa geçebilirsiniz.
Publication: Buying a Property Turkey - January 2008
New edition of Buying a Property Turkey (published by Cadogan Guides) as updated by Burcu Orhan of London Legal International has just been released.
For more information about the guide please visit http://www.cadoganguides.com
We will soon launch our new offices in Antalya and Ankara - January 2008
London Legal International will have its new offices in Antalya and Ankara from February 2008.