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International corporate law
Business registration and support in Turkey LOAN FOR BUSINESS IN TURKEY

Taras Miroshnychenko

Head of International Corporate Law and Fintech Practice

E-mail

miroshnychenko@prikhodko.com.ua

Phone numbers

Expert in fintech, crypto, and international corporate law with over 20 years of experience. Specializes in crypto licensing (VASP/CASP), iGaming business support, and international structuring, asset protection, and OSINT analytics for risk assessment and due diligence.

LOAN FOR BUSINESS IN TURKEY

The Republic of Turkey has created a fairly favorable climate for opening and developing its own business by foreign citizens. Coming from abroad, many foreigners decide to engage in some kind of small or medium-sized business, opening small businesses. Speaking about Turkey, the small and medium business assumes that the owner receives an income of up to 25 million lire, and his organization employs no more than 250 employees.

From year to year, the state shows the importance of developing this area, therefore, it implements a number of programs to support it. In particular, Turkey has a so-called Loan Guarantee Fund, whose main task is lending to small and medium-sized businesses.

With the support of the government, the fund can issue a loan for the development of their own business not only to Turkish citizens but also to foreigners. According to statistics, today about 30,000 firms with foreign capital work in the republic.

If you are a foreign citizen, have your own property in Turkey, and want to develop your business in the southern state, we recommend that you contact the Credit Guarantee Fund, where you will be provided with all objective information about the possibilities and conditions for obtaining a loan.

How to get a loan in Turkey for a Ukrainian?

The procedure for obtaining a loan consists of several basic steps.

1 – Make an expert assessment from an independent specialist appraiser, who must determine whether the real price of the acquired property corresponds to that indicated in the sales contract. Today in Turkey, regardless of which scheme will be used to purchase real estate – on credit, by installments, or by paying the amount in full, you need to get an expert assessment of housing.

2 – We are preparing a package of documents.

Documents for obtaining a loan in Turkey:

International passport
If the client is an employee, he will need to provide a certificate of 2 personal income tax, if a private entrepreneur – a tax return, which will display income for two years.
Credit story from the jar
Certificate from the bank on the movement of funds on the current account
TAPU per purchased square meters in Turkey
Valuation opinion from an independent appraiser

All of the listed documents must be original, and already in the Republic of Turkey, they are translated and notarized.

3 – Transfer of documents and payment of the contribution to the owner of the apartment.

The Turkish bank considers the application and the collected package of documents within 5-7 days. After that, a final conclusion is made on whether the institution is ready to issue the requested amount.

4 – Transfer of funds from the bank to the seller’s settlement account.