Hi again,

I have just given you a short answer, and I would like to add something to that:

Foreign enterprises that would like to invest in the tourism sector in Turkey are subject to the "Foreign Investment Law" together with the "Law on Promotion of Tourism"

Before the former law got amended, it stipulated that the investment by a foreign enterprise had to be profitable and beneficial to the development of tourism in Turkey. Investors needed to file an application before the Undersecretariat of Treasury first, in order to obtain a "Permit and Encouragement Certificate" for investment. This certificate was a document that allowed the establishment of a company in Turkey and information on the participation of foreign capital. It was also possible to obtain an indication for the state aid measures to be gained upon the realization of the project. Upon receipt of the "Permit and Encouragement Certificate", a foreign investor could receive all the privileges and state aid measures provided to local investors.

The new investment law, which is more liberal does not even require a formal application before the mentioned Undersecreteriat but as I know from the practice, The Undersecreteriat has still been playing a significant role in foreign investment issues, and an array of procedures are still being held valid even after the passage of the new law. So, it seems that what I have written in the previous section still remains valid. Perhaps, the best way for you here would be to initiate an inquiry before this institution: Contact competent authorities at <www.hazine.gov.tr> or <www.dtm.gov.tr>

This said, residence and visa requirements will be dependent upon the decision on your investment plans. First of all, you should set up a company in Turkey. In case you have an already set up company in your home country, then you can open a branch here.

On the other hand, you can also buy land to build your hotel onto or buy an present hotel and start to carry it on.

There is an array of possibilities. You should know what you exactly would like to do.

Sincerely,

Dr. Didem Aydın

Associate Professor, Attorney at Law

Alıntı: Alıntı yapılan mesajın sahibi: Konuk thank you for your reply burcu, we are looking for a hotel or a bar in maybe calis or ovacik area as we like it here. we prefer it here to izmir, we just need to know if we are allowed to work here before we enquire further thank you carol.