Lease of State Property in Turkmenistan

Lease of State Property in Turkmenistan
Paytagt shopping center, Ashgabat, Turkmenistan

How is it possible, in accordance with the Law of Turkmenistan on Lease, to lease state property within the country?

State property may be temporarily leased if it is not used for its intended purpose (not established, mothballed), but due to its technical condition it is suitable for use, and if the lease of such property does not damage production.

The property complexes of state enterprises, their separate subdivisions, including land plots allocated to them in accordance with the procedure established by the legislation of Turkmenistan, in whole or in part, can also be leased.

The lessor of state property is the balance holder, on the balance sheet of which this property is located.

In accordance with the legislation of Turkmenistan for certain facilities and types of state property, the lessor may be the authorized body.

The procedure for leasing state property is developed by the authorized body and approved by the Cabinet of Ministers of Turkmenistan.

Control over the execution of lease agreements for state property is carried out by lessors and the authorized body.

Source: Law of Turkmenistan on Lease