Your Guide to buying Turkish property through a company

Why do property buyers prefer to buy them through a company?

Buying a property through a registered Turkish company is a way to bypass obstacles for some investors, and some major investors choose to buy land and property through limited companies so that they can follow up on commercial operations after the purchase.

Some people choose to buy a property through a foreign company so that it can have certain advantages, and in other cases, this may be the only way that allows citizens of certain countries to own property in Turkey.

How to buy a Turkish property through a company?

In order to buy a property through a company in Turkey, you need to register a foreign capital company in Turkey, and it is established according to Turkish law, which means that foreign capital companies are subject to Turkish law during their work.

What advantages do foreign investors enjoy in Turkey?

In 2003, the Foreign Direct Investment Law came into effect, which gave foreign investors the same rights and treatment that a local investor enjoys in Turkey, and led to the lifting of some restrictions that were imposed on foreign investors before.

How to establish a company in Turkey and buy a property?

Establishing a limited liability company in Turkey is the easiest and cheapest way to establish a commercial company in Turkey, it requires the presence of two people – at least – one of them can be a foreigner and the other Turkish, and the company is divided into 99.9% of the shares, the share of the foreign person who He is named as a director, and 0.1% of the company’s shares are the share of the other person, who is usually a lawyer.

What are the steps for establishing a company in Turkey?

To start establishing a company in Turkey, you must go through 5 steps, which are:

First Step: Prepare the required documents, which are:

  • Power of attorney
  • Copies of the passport
  • Two passport size photos

The second step: Submit the application to the competent authorities to grant permissions, prepare the association statute, and submit an application to the tax authority.

The third step: Upon establishing the company in Turkey, the legal address will be examined by tax officials and verified, and then the final authorization will be made, the lawyers usually complete this step.

Fourth step: Once the company is registered, a second power of attorney will be prepared on behalf of the company to grant an official power of attorney to a lawyer in Turkey to complete the purchase on behalf of the company, the lawyer will apply to the governor to request permission to buy a house in Turkey by the real estate registry.

Fifth step: Once permission is granted from the ruler, the property will be registered in the Land Registry.

How much does it cost to set up a company in Turkey?

A limited company currently costs about 1,500 pounds sterling, and annual company fees are about 1,000 pounds sterling, and this amount includes registration fees and accounting fees.

 

 

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