Buying a Property in Turkey as a Company

Numerous investors after company registration in Turkey Buying a property in Turkey as a company is not a hard process. However, they must apply to the governorship where the real estate is. Therefore, the procedure for acquiring real estate is a hard procedure. Thus, you must be careful in every step. Although it is harder in military security zones, military forbidden zones, and private security zones, you can still buy property in these areas.

There are important differences between companies with foreign majority capital and companies with Turkish capital. Therefore, in the process of purchasing real estate in Turkey these two companies go through different processes. Therefore, these two companies’ procedures are different. Nevertheless, it is an easy progress; if we look at companies whose capital is mostly foreign. The first difference is that consent is obtained from the governorships. For example, if this company wants to buy real estate within the borders of Istanbul and wants to get consent, then the company needs to apply to the Istanbul governorship for permission.

The Law about Buying a Property in Turkey as a Company

Property of foreign capital companies in Turkey and limited gain of rights in real. In accordance with the “Regulation on real estate ownership and limited real rights gain of companies and affiliates. Within the Scope of Article 36 of the Land Registry Law No. 2644.” Official Gazette at the date of 16 August 2012, Companies with Foreign Capital shall apply to the Governorships (Provincial Planning and Coordination Directorates) in the place where the real estate is.

Article 2 of the law numbered 6302 and the limited warning on the gain of immovable ownership of companies. Within the scope of article 36 of the deed law number: 2644. Official gazette number: 28386 date: 16.08.2012. Companies that will get permission from governorship. With this law buying a property in Turkey as company is allowed.

Companies that Shall Get Permission from Governorship

1. Foreign partners who own more than 50% of the company and do not have permission yet.
2. Companies that have the power to appoint or dismiss the majority of the directors. Although more than 50% of the capital is not foreign, the articles of association will be examined.
3. The officer will analyze, the dominant position of the partner in affiliates, subject to the Law No. 4875, who is a partner to the said company. Which means, if it is a partner within the scope of Articles 1 and 2 above, affiliates are subject to permission.

Companies that Shall not Get Permission from Governorship

1. Companies with foreign capital whose share of foreign capital does not exceed 49% (companies outside the scope of Article 36 of the Law No. 2644). Therefore, they shall not obtain permission from the governorships. They must annotate in the trade registry due to the law.
2. If you found a company which is in accordance with the laws of foreign countries, then it is not possible for the company to acquire any kind of property in Turkey. Therefore, it can realize only limited real rights facilities. These companies can acquire property in Turkey only with special permission (concession, etc.).
3. Real estate registration transactions in the title deed arising from company mergers and divisions.
4. Real estate registration transactions purchased from execution by banks and capital companies.
5. Registration procedures: in organized industrial zones, industrial zones, technology development zones, free zones.
6. Companies with foreign capital. (if there are no other foreigners) Therefore, Turkish citizens holding a blue card (a document which Ministry of Interior gives) are shareholders, in order to use the rights which are in Article 28 of Law No: 5901.