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What is the “Tourism Encouragement Law”?

Sites where investment are currently preferred are Dalyan, Tarsus, Didim, Antalya and Istanbul. So far 160 tourist centres have been designated under the law in addition to the large numbers already under progress. The Ministry of Tourism has provided parcels of land on the coast in the well developed tourist regions such as Belek, Kemer and Izmir.

According to new procedures, a whole region, or one lot of it may be allocated to a main investor. In this case the decision is endorsed by a council of ministers and pre-permission is given to this investor by the Ministry. Upon approval of the project or investor the Ministry will grant full permission. Investors will be determined via open tender and in the designated sites and regions they will get autonomous and permanent construction privileges. This right allows the investors to secure a mortgage from more favourable international markets. Furthermore investors have the right to sell the area or the complete project to third parties without the prior permission of the Ministry.

The idea of this law is to encourage land development projects and attract international chains and trademarks. What to do at sentosa singapore 

Furthermore, provided under this law are:

Allocation of public land to investors for tourism investments

Permission to employ foreign personnel and artists

Discounts on water, gas and electricity prices

Priority in allocations for telephone, fax and telex lines

Tax, duty and fee exceptions such as VAT and customs duty

 

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