Real estate ownership by opening a company in Turkey
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Real estate ownership by opening a company in Turkey

Created: 2023-02-03 Modified: 2023-11-17 Views: 902 Luxury Signature Admin
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The demand for real estate investment in Turkey has increased in recent years due to the improvement of the Turkish economy, the development of infrastructure, and the return of tourism growth in Turkey. Also, real estate has the potential to increase in value over time, providing the investor with a profit when the property is sold. In addition, real estate is distinguished from other types of investment in that it is a tangible asset that can be seen and touched, which gives investors a sense of security and stability.

 

Why invest in real estate in Turkey?

There are many reasons why people choose to invest in real estate in Turkey:

1. Growing Economy: Turkey has a constantly growing economy, with the growth of the middle class and increase in income, which leads to an increase in the demand for housing.

2. Infrastructure development: The Turkish government is investing heavily in infrastructure projects, including transportation, airports, trains, hospitals, and huge exhibitions, which in turn have attracted investors and increased the value of real estate.

3. Turkey is an important tourist destination: Turkey is one of the most famous tourist destinations, which visitors from all over the world come to, due to its history, civilization and stunning nature.

4. Obtaining Turkish citizenship through investment programs: In recent years, the Turkish government has followed several policies and provided many facilities to encourage foreign investment in the real estate market in Turkey, including granting Turkish citizenship through real estate investment.

5. Real estate prices are reasonable and appropriate: Compared to other destinations in Europe and the Middle East, real estate in Turkey is still considered affordable, providing an opportunity for investors to buy real estate at low prices with the possibility of increasing its value over time.

6. Guaranteed rental return: Investing in real estate in Turkey can provide a rental return for investors, especially in famous cities and tourist areas.

 

Real estate ownership by opening a company in Turkey

Buying a property in Turkey has become an urgent desire, goal, and goal for many, as Turkey enjoys a unique location in the heart of the world and extends over the continents of Europe and Asia, making it an ideal destination for those who want to enjoy both cultures. Also, Turkey offers a unique blend of modern amenities and traditional culture, making it an attractive destination for those looking for a new and exciting lifestyle. In addition, owning real estate in Turkey can make it easier for people to obtain residency in the country. However, there are some nationalities that are not allowed to own property in Turkey, but there are certain ways through which they can own property, and among these ways is opening a company in Turkey, buying a property and registering it in the name of the company.

 

Can foreigners open a company in Turkey?

Yes, foreigners can open a company in Turkey. Foreign investors in Turkey are treated equally with Turkish investors. For this reason, they can open all kinds of companies that Turks can open.

 

What are the types of companies in Turkey?

There are four types of companies in Turkey:

1. Joint Stock Companies:

In this type of company, the company’s capital is divided into shares distributed to the shareholders, and the responsibility of the shareholders is limited to the proportion of their shares of the company’s capital. The number of founding partners must be five people, and the capital must not be less than 50.000 Turkish liras. Joint-stock companies can carry out any commercial or industrial activity permitted by Turkish law, except for some businesses and activities that require special permissions from the Ministry of Industry and Trade.

 

2. Partnership companies:

This type of company is established to run a commercial project, with a specific trade name, and the liability of all shareholders is limited, and there is no minimum capital.

 

3. Unlimited Liability Companies:

They include banks and private financial institutions, insurance companies, financial leasing companies, debt collection companies, holding companies, foreign exchange companies, and companies that deal with warehousing. Licensing is often difficult for such companies due to the different conditions.

 

4. Limited Liability Companies:

This is the typical type of company for owners of small and medium enterprises, and it consists of at least one shareholder, and fifty shareholders at most, and the cost of establishing a company in Turkey of this type is very acceptable, so the minimum capital for this company is 10.000 TL, but if they are two shareholders, then they should The minimum capital for them should be 12.500 TL.

 

What are the papers required to open a company in Turkey?

1. A copy of the passport translated into Turkish and certified by the Notary, and that the validity period of the passport exceeds 6 months, in addition to the presence of the entry stamp to Turkey.

2. Tax number.

3. Three personal photos.

 

What are the steps to establish a company in Turkey?

1. Preparing the articles of association of the company, and having it certified by the Notary in Turkey, and it is attached with a report on the company’s address.

2. Depositing 25% of the company’s capital in a Turkish bank, and it is preferable that the capital be greater than the number specified in Turkish law, in order to benefit from the powers obtained by companies that have a huge capital, and the capital must be deposited through a bank account of the company where the company then obtains a deposit paper with the value of the capital that was deposited, and then the company’s papers can be managed, obtaining the approval of the Chamber of Commerce in Turkey and receiving the commercial register.

3. Submit an original copy and two certified copies of the company's articles of incorporation to the Land Registry Office within 15 days from the date on which the papers were notarized by the Notary. The company's address must be clearly indicated in the incorporation regulation, which will be publicly published in the Official Trade Registry Gazette, in accordance with Article 279 of the Turkish Commercial Code, which provides for this.

4. Upon completion of the establishment of the company in the commercial registry office, you must register the company in the local tax office in order to be given the tax certificate, which is required to be displayed visibly in the workplace, because tax officials visit the company from time to time to verify the information mentioned in the tax certificate.

5. All employees of the company are required to be registered with the Ministry of Social Insurance, as insurance is compulsory in Turkey for all workers in all types of companies, and the company is supposed to pay insurance premiums on a monthly basis for each employee in the company.

Frequently asked questions

What is meant by real estate ownership by opening a company in Turkey?

There are some nationalities that are not allowed to own property in Turkey, but there are certain ways through which they can own property, and among these ways is opening a company in Turkey, buying a property and registering it in the name of the company.

Can foreigners open a company in Turkey?

Yes, foreigners can open a company in Turkey. Foreign investors in Turkey are treated equally with Turkish investors. For this reason, they can open all kinds of companies that Turks can open.

What are the papers required to open a company in Turkey?

- A copy of the passport translated into Turkish and certified by the Notary, and that the validity period of the passport exceeds 6 months, in addition to the presence of the entry stamp to Turkey.
- Tax number.
- Three personal photos.

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