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Business registration and support in Turkey RENT OR BUY REAL ESTATE (APARTMENT, HOUSE, OFFICE, WAREHOUSE) 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.

RENT OR BUY REAL ESTATE (APARTMENT, HOUSE, OFFICE, WAREHOUSE) IN TURKEY

Buying or renting real estate in Turkey is quite simple if you leave your contacts and consult with our specialists regarding the service of concluding sales contracts, and renting real estate in Turkey.

So what are the nuances of buying, selling, and renting real estate in Turkey?

Rules for buying and registering real estate have their own characteristics.

That is why our specialists provide the following legal services in the field of real estate

real estate consulting;
legal support for the purchase, sale, or lease of land, house, apartment, and another real estate;
verification of permit and legal documentation;
analysis of information about developers and sellers;
verification of information, in particular, how the procedure for registering real estate in Turkey was carried out, etc.

The cost of services when working with real estate in Turkey

The price is formed depending on the value of this or that real estate object, its location, and the participation of lawyers in accompanying agreements on the purchase or sale of real estate in Turkey.

As a rule, this value is formed as a percentage of the value of the real estate object and is from 2 to 5 percent. At the same time, other approaches to price formation are also possible.

Therefore, if you really want to buy real estate in Turkey, you need to take the following steps

Selection (search) of real estate ;
Its juridical analysis ;
Accompanying a notary public in the Republic of Turkey.

We will help you purchase a land plot, house, apartment, villa, office, warehouse, or commercial real estate anywhere in Turkey.

Real estate in Turkey is an extraordinary opportunity and advantage for a stable life and business development, because it is a guarantee of obtaining a visa, credit, residence permit, etc.

Immigrating to Turkey with the help of a real estate purchase tool is a reality.

Current legislation of the Republic of Turkey does not give foreigners ( including Ukrainians ) the right to buy real estate within the territory of the country and to register the right of ownership for a foreigner. To purchase real estate in Turkey, you must have a package of documents included in the list, formed in accordance with the law.

What you need to pay attention to when buying an apartment in Turkey

relevant certificate from the mortgage book;
a contract specifying who is the owner;
a certificate on the absence of registered persons;
an extract from the land register.

Leaving for permanent residence in Turkey through the purchase of real estate is a procedure.

The preparation of real estate documents consists of several stages.

First. Preliminary contract of sale.

The second is the main one. The notary prescribes the stages of settlement between the parties and the cost of his own services in the contract. As a rule, there is a need to involve a translator, as the contract is drawn up in Turkish.

Conclusion of an agreement on residential real estate

Residential real estate is registered from the first time, if the full amount is available for payment (in cash or on a bank account), or if there is a certificate from the bank on the issuance of the necessary loan for the purchase of housing.

If you want to know the conditions for obtaining a permanent residence permit in Turkey for Ukrainians when purchasing housing and how to obtain a residence permit (PNP) when immigrating to Turkey, contact our specialists for advice.

Can a Ukrainian open a company in Turkey without a local partner?

For many ordinary types of commercial activity, a company with wholly foreign capital is possible. A foreign founder may be an individual or a legal entity. A Turkish partner is not a universal requirement for every company, but before registration, restrictions applicable specifically to the selected sector should be checked.

Management is determined separately: who will represent the company, sign agreements and operate the account. The ability to own a business does not automatically mean the right to work personally in Turkey. Therefore, the ownership structure, authority and immigration matters are considered together, before the documents are prepared.

Is it mandatory to establish a Turkish company in order to open an account in Turkey?

This depends on who needs the account and for which transactions. An individual’s account, an account of a Turkish company and banking services for a foreign legal entity involve different banking procedures. This service primarily covers launching a Turkish company and preparing it for corporate banking.

If the legal entity is already registered in another country, it is first necessary to clarify whether the bank will consider servicing it and which documents and local connections it expects. Establishing an additional company solely for the account should be considered only after the business need has been reviewed. It is also important to take into account the accounting and corporate obligations that will arise for the new structure.

What practical advantage does an account in Turkey provide for trade?

An account helps organise payments in the country where the company purchases or sells goods: paying suppliers, receiving local proceeds and handling settlements for business transactions. Foreign currency accounts and international transfers can complement this model for working with overseas clients.

For more complex supplies, letters of credit, documentary collections or guarantees can be considered separately. For example, a letter of credit links payment to the presentation of the documents specified in it. At the same time, the bank checks the documents in accordance with the terms of the instrument and does not guarantee the quality of the goods. This is why the banking product and supply agreement should be aligned.

Can a company and an account be opened entirely online?

Representation under a power of attorney is permitted for some registration actions, but the possibility of completing the entire process without travelling depends on the specific composition of founders and signatories. Documents issued abroad must be prepared in a form acceptable to the Turkish registry. Incorrectly worded authority may result in the power of attorney having to be reissued.

The bank establishes its own identification procedure and may require the personal participation of a company representative. Online banking after the account has been opened does not confirm the possibility of making the initial application remotely. Therefore, the format of participation is agreed before booking travel, executing a power of attorney and planning the first payment.

How long does registration and the launch of settlements take?

Registration in the trade registry is only one stage. Before it, the structure must be determined and documents and translations prepared; afterwards, the necessary organisational procedures must be completed and the bank review passed. Therefore, the date on which the company appears in the registry and the date on which the account is ready for the required payments may differ.

The overall plan is affected by the founder’s documents, participation of a foreign legal entity, the need for a power of attorney, a regulated type of activity and additional bank requests. An indicative timeframe should be determined after analysing the source information. For the first contract, it is advisable to separately check whether the required currency, access and payment direction have already been activated.

Does company registration give the right to live and work in Turkey?

Company registration formalises the business but does not in itself give the founder an unrestricted right to reside or work. If the owner plans to work personally or perform management functions in Turkey, the relevant immigration and employment regime, including possible exceptions, must be assessed.

Separate financial and staffing criteria may apply to a work permit. They cannot be replaced by the minimum share capital established for company registration. This is why plans to relocate and work personally should be disclosed at the beginning of the consultation: they may affect the organisation of the business.

Is accounting required if the company is not yet earning income?

After registration, the company must comply with applicable accounting and reporting obligations even while preparing to start sales. At this stage, there may already be owner contributions, rent, equipment purchases and other transactions. They must be properly recorded and supported by documents.

The list of tax returns, notifications and electronic tools is determined by the local accountant according to the company’s status and activities. It is advisable to agree the calendar and document transfer procedure immediately. If the company will not be used for a long period, further actions regarding it should be assessed separately rather than simply discontinuing accounting and communication with the authorities.

Do CFC obligations arise in Ukraine?

Such obligations may arise if the owner is a Ukrainian tax resident and meets the statutory criteria for control of a foreign company. Ukrainian citizenship alone is insufficient for a conclusion: tax residence, ownership structure and actual control must be assessed.

Where the relevant ground exists, a CFC notification is submitted within 60 calendar days from the event. The annual report is a separate obligation. A possible exemption of CFC profit from taxation should not be equated with an exemption from reporting. To ensure the required information is available later, Turkish financial documents and corporate changes should be collected systematically from the moment the company is established.

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