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Old 22nd June 2011, 07:32   #1 (permalink)
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Tapu in company name

Question for anyone else who has formed a company and purchased their house in the company's name:

Have you been told by your accountant (or anyone else) that you are required to be a member of the local Chamber of Commerce (Ticaret Odasi)?

I didn't mind when it was only a few TL, but last year it jumped to about 600 Tl and who knows what this year.

Input, anyone?

(Sorry Mods, wrong forum - should have been Turkish Legal Helpdesk or Doing business in Turkey! Can you move for me, please? Thanks, Spike)

Last edited by Spike; 22nd June 2011 at 08:15.. Reason: Wrong forum topic
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Old 22nd June 2011, 09:08   #2 (permalink)
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Re: Tapu in company name

Hi, as far as I know and from previous personal experience, having a Turkish company to hold a property is same as a trading company and you need to follow the same rules and regulations, this also means paying all the regular monthly fees.

My advice to anyone thinking about opening a company in Turkey is DONT!!!!!! we are used to opening a company in UK for under 100 usually in a day and then if not needed make it dormant the same way, and other fees and taxes are minimal and largely dependant on your profit, but in Turkey it doesn't work this way.

You get screwed from the moment you start the company and it doesn't end even after you have closed the company.

DON'T open a Turkish company, if it means that's the only way you can own a house then I would not buy the house.

Sorry for the rant, but it just annoys me that they make it so hard for entrepreneurs to start and run businesses.
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Old 22nd June 2011, 10:05   #3 (permalink)
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Re: Tapu in company name

It isn't the only way you can hold a property. I've had mine on escrow in my lawyer's name and so far touch wood no problem. Also I know quite a few others in Beyoglu Who do this since 2005 it has been a tapu banned area.
Mushtaq I agree with you about it being better to have a tapu in your own name but they brought in the the tapu ban here ( which is illegal and has been challenged in the courts but so far no result because the land in central Istanbul is valuable so they don't want foreigners to buy it) without any warning and people had put down deposits and had their papers with the tapu registry.

Last edited by Expat2008; 22nd June 2011 at 10:08..
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Old 22nd June 2011, 11:01   #4 (permalink)
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Re: Tapu in company name

Quote:
Originally Posted by Mushtaq View Post
Hi, as far as I know and from previous personal experience, having a Turkish company to hold a property is same as a trading company and you need to follow the same rules and regulations, this also means paying all the regular monthly fees.

My advice to anyone thinking about opening a company in Turkey is DONT!!!!!! we are used to opening a company in UK for under 100 usually in a day and then if not needed make it dormant the same way, and other fees and taxes are minimal and largely dependant on your profit, but in Turkey it doesn't work this way.

You get screwed from the moment you start the company and it doesn't end even after you have closed the company.

DON'T open a Turkish company, if it means that's the only way you can own a house then I would not buy the house.

Sorry for the rant, but it just annoys me that they make it so hard for entrepreneurs to start and run businesses.
You are so right!!
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