Turkish president approves Foundations Law

Turkish President Abdullah Gul approved Foundations Law (law No. 5737) on Tuesday.

Turkish president approves Foundations Law
According to the law, foreigners will be able to establish new foundations on basis of reciprocity in Turkey.

New foundations will also be able to open branches and representations by making declaration to Foundations Directorate.

Foundations will obtain property and manage them without taking any permission. They will also be able to pursue international activities and cooperations, and open branches and representations in foreign countries.

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Güncelleme Tarihi: 27 Şubat 2008, 12:40
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