We did a summary of who can buy property in Turkey. “What is the best way to buy property in Turkey?” is a question often raised by foreign clients. Actually it depends on the purpose. Below I will be giving different ways to buy property in Turkey. Buying property as a real person; a person with foreign nationality can acquire property in Turkey freely. Some limitations apply, but these are generally not applicable for an average purchase. If a Turkish company (with foreign capital and ownership); a company incorporated in Turkey in accordance with Turkish commercial law and registered to the Chamber of Commerce Trade Registry by foreign shareholder(s) is considered to be a Turkish Company. A company incorporated in Turkey by foreign investors may acquire property with the purpose of conducting the activities stipulated in the articles of association of the respective company. In other words, if the company does not include any reference to property ownership, then the company will not be able to acquire property in Turkey. The file should include an attachment concerning the final structure of the company. This document is applied for in different ways for listed and non-listed companies. Once the local governor's office makes the necessary checks, such as if the property is in the limits of prohibited military zones, etc., then the clearance is granted within approximately one month's time. It might it be a good idea to buy the property first in the name of a company with Turkish shareholders, then buy the shares of the company. In such a case, the change in the shareholding structure must be communicated to the state Treasury undersecretary. Then, the Treasury secretary requests that the local governor carry out a similar check cited above.
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