Law establishing the Foundation for Strengthening the Foreign Service published in the Official Gazette

According to the law, the Foundation for Strengthening the Foreign Service will consist of a board of trustees, a board of directors, and a supervisory board.

The foundation will be able to carry out work aimed at utilizing real estate owned by or allocated to the Ministry that is not currently needed, in accordance with relevant legislation, for the benefit of the Ministry; it will be able to establish higher education institutions and carry out work to support the development of the qualifications and representational capabilities of personnel.

In order to generate income for the foundation and allocate it to the foundation's objectives, it will be able to buy, sell, and lease movable and immovable property domestically and abroad; acquire all kinds of rights and receivables, whether in-kind, cash, intellectual, or industrial; and engage in transactions such as swaps, barter, and the establishment of mortgages.

It will be able to buy and sell government domestic debt securities and lease certificates issued by the Undersecretariat of Treasury Asset Leasing Joint Stock Company within the scope of the Law No. 4749 on the Regulation of Public Finance and Debt Management dated 28/3/2002, as well as corporate bonds, stocks, and other securities, and will be able to establish and operate companies and commercial enterprises.

The immovable property owned or to be owned by the foundation will be exempt from all kinds of title deed fees, property taxes, and all kinds of duties and fees related to real estate.

News Source: 12punto