Considering a property purchase in Turkey? For many, navigating the property market via a registered Turkish company makes the process smoother. This approach is especially popular among large investors who wish to expand their business endeavors post-purchase.

Why Buy Through a Company?

• Simplicity and Strategy: Some hurdles in the property buying process can be sidestepped with this method.
• Global Flexibility: For certain foreign nationals, this is the exclusive route to own Turkish real estate.
• Business Ambitions: Investors aiming for broader business ventures post-purchase find this approach efficient.

Turkish Law and Foreign Investments:

In 2003, the game changed for foreign investors. The Foreign Direct Investment Law came into effect, equating foreign investors with their domestic counterparts. No more were the additional permissions and limits; the property market was equally approachable.

Your Steps to Setting Up a Company and Property Purchase:

• Company Structure: The optimal way for foreigners is the limited liability company route. You’ll need just two people, where one (usually the foreigner) holds 99.9% of the shares and the other person, often a lawyer, holds a minor 0.1%.
• Documentation: Gather your essentials – power of attorney preparation, passport copies, and two passport-sized photos.
• Application Phase: After submitting the above, a series of official permissions and registrations are initiated, from tax authority applications to company books preparation.
• Legal Address Verification: Tax officials will validate the company’s legal address. Typically, lawyers handle this nuanced step for you.
• Property Purchase: Post company registration, you’ll grant power of attorney to a Turkish solicitor (ensuring seamless property buying). The solicitor then coordinates with the governor for property purchase permissions and manages the Land Registry liaison with the seller.

What’s the Price Tag?:

• Initial Setup: Currently, kickstarting a limited company is priced around £1,500.
• Annual Maintenance: Expect about £1,000/year, encompassing registry submissions and accounting.

Eager to delve into the Turkish property market via a company route? Let the experienced team at Estates Istanbul guide you. Reach out today, and we’ll pave the way for your successful property venture.