Turkish Living Forums - View Single Post - Set up and run a company

As a foreigner you may form a company and use that company to purchase property without contravening any laws.

To form the company you need to use an accountant (Serbest Muhasebeci) to set it up and run it for you. You probably need to find someone you trust to translate and help you communicate. You don't need a solicitor, but if you do know of one you can trust then by all means go through him/her. One-off set up cost should be 2,500 YTL or thereabouts and take a couple of days to complete and monthly costs 100 to 200 YTL depending on your bargaining powers. If $3,500 - $5,000 is suggested as a yearly cost, walk away and find someone else. They're having a laugh.

Even for the non-trading company, quite a few submissions and small payments have to be made and after a year your accountant will have a file about 3" thick just for you! The small payments (about 60 YTL each quarter if I remember right) would normally be included in the accountants fee.

Went through the procedure last year and found it quite painless, although we have changed our accountant after he decided to raise his monthly fee by 20%.

Best of luck.

22nd February 2007, 07:53	#6
Spike Senior Member	Re: Set up and run a company As a foreigner you may form a company and use that company to purchase property without contravening any laws. To form the company you need to use an accountant (Serbest Muhasebeci) to set it up and run it for you. You probably need to find someone you trust to translate and help you communicate. You don't need a solicitor, but if you do know of one you can trust then by all means go through him/her. One-off set up cost should be 2,500 YTL or thereabouts and take a couple of days to complete and monthly costs 100 to 200 YTL depending on your bargaining powers. If $3,500 - $5,000 is suggested as a yearly cost, walk away and find someone else. They're having a laugh. Even for the non-trading company, quite a few submissions and small payments have to be made and after a year your accountant will have a file about 3" thick just for you! The small payments (about 60 YTL each quarter if I remember right) would normally be included in the accountants fee. Went through the procedure last year and found it quite painless, although we have changed our accountant after he decided to raise his monthly fee by 20%. Best of luck.