Top Adding - Real Estate

Buying a property in Turkey is no more difficult than buying in the UK or any other EU country. It helps to have appointed a recommended English speaking lawyer to act on your behalf from the start, then your purchase should proce

According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product

ed smoothly. Here we provide an example of what is involved in buying property in Turkey.

1. Reservation deposit

To start with a reservation deposit is taken, usually between ?2000 and ?3000. This takes t

; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in

e property off the market and freezes the price of the property.

2. Appointing an independent lawyer

Usually the best way to choose a lawyer is to have one recommended to you by a friend. If this is not po

lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

sible, the Service Group can recommend you an independent lawyer if required.

3. Power of Attorney to your lawyer

You can decide on how much power of attorney you would like to give to your lawyer. Some pr

here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

fer to be in Turkey for the whole process, whereas others prefer their lawyers to complete all of their transactions on their behalf. Power of attorney can be given for:

· Signing the private purchase contract
· Open

d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

ing a bank account
· Connecting to water, electricity and phone
· Transferring the deeds into your name

Power of attorney is given at the Turkish Notary Public. Passports are translated into Turkish for it to be

ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc

established. As it is in Turkish there is always an official Oath-sworn translator present to translate all documents into English.
When clients are not present in Turkey to organize this, the lawyer can send the power of att

easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi

rney by post. Clients will need to take this to a notary or solicitor in their country of origin to sign. It must be stamped at the commonwealth office and sent back to Turkey to be translated back into Turkish.

4. Ti

nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically

le deed and building licence validation.

The necessary checks to be made are:
· The title deeds of the plot and property must be free of debts and other charges
· The property must be freehold and is able to

and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ

be purchased by a foreigner
· The current ownership of the property must be validated at the land registry
· The builder must have all necessary planning permissions and licenses

5. Private purchase contract

ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi

/b>

If the title deeds are clear then the lawyer will make up a draft of the contract between the buyer and the vendor/builder. This contract mentions all the details of the property; from delivery date to technical speci

ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a

ication, payment terms and any specific adjustments to be made to the property.
This draft is created in both English and Turkish and then sent to you. If the terms and conditions are agreed, the lawyer will than confirm appr

dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod

val for the signing of the contract. Amendments can be made until both parties are satisfied.

6. Payment of the first installment

If clients already have a bank account in Turkey, or have given their lawye

cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin

r the power of attorney to open one up, the first installment is sent from this account to the account of the vendor/builder on the day of signing the contract.
If no Turkish account has been set up, the first installment mus

tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen

be sent to the lawyer’s Clients’ Account and not directly to the vendor. From here it will be sent to the vendor on the day of signing the contract. All other stage payments until completion can be made this way.

7.

t?

As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel

ilitary approval

In order to check that your property is not located in a restricted zone, your lawyer will need to send details of the purchase to the Turkish government military approval.
The Council of Minist

ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust

rs determine specific zones to be preserved. Lands could have a strategic importance in terms of agriculture, energy, history, wildlife preservation, mining, culture or national security. Foreign nationals will not be permitted to

y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products

purchase property in these specifically preserved zones.

8. Independent surveyor

From the second payment onwards you have the option to hire an independent surveyor at a cost between ?150 and ?300 for a

.

As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de

ull report on the property you are purchasing. On receiving a positive report you can safely proceed with your payments.

9. Transfer of title deed

Once military approval has been granted and the full amoun

elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

has been paid the title deed transfer takes place at the Property Registry Department. Both the buyer (or legal representative) and the vendor/builder need to be present to sign and the title deed will then be placed in your name

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

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Top Adding - How To Buy A Property In Turkey

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