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Old 18th April 2012, 20:19   #1 (permalink)
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Owning a company in Turkey

Does anyone on here have their own or are part of a company in order to have the tapu to their property. I have had an email via a friend that her accountant has advised here that there are new rules coming into effect in July. Has anyone else heard of this.
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Old 18th April 2012, 21:44   #2 (permalink)
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Re: Owning a company in Turkey

Yes, steps have been taken to close this loophole - the changes to the regulations were made some time ago, at least eighteen months maybe longer.

As far as I can recollect the changes only affected new purchases, although as it didn't apply to us I didn't pay it a lot of attention at the time. Best check with your accountant as there may have been revisions to the original regulation which makes it retrospective.

Before any of the "they're just out to get the foreigners" folks jump in, this legislation was aimed at the Syrians etc who were buying masses of land/property in the east of Turkey by way of limited companies.

JF
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Old 18th April 2012, 21:51   #3 (permalink)
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Re: Owning a company in Turkey

My friend's accountant has told her she has to appoint a Turkish Manager and the company has to have a web site and changes take place as of 1st July.
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Old 18th April 2012, 21:59   #4 (permalink)
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Re: Owning a company in Turkey

I'd be suspect about the Turkish manager bit if the company is classed as non-trading, the requirement to have any Turkish "managers" was done away with a good few years ago. The web site, yes that is part of new company regulations.

Get advice from a professional, its been years since we had a "dormant" Turkish limited company and these new regulations are probably going to tighten things up across the board. My accountant hasn't mentioned anything that affects us so I suspect we either comply with the new regulations or that the main changes are where property is concerned.

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Old 18th April 2012, 22:04   #5 (permalink)
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Re: Owning a company in Turkey

I'm awaiting confirmation from our accountant on what has to be done. I'm suprised that he hasn't notified us of the changes and that I had to find out via someone else's accountant. If the regulations state you have to have a Turkish manager that really stuffs things up for a lot of people
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Old 18th April 2012, 22:12   #6 (permalink)
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Re: Owning a company in Turkey

Quote:
Originally Posted by lesley northall View Post
If the regulations state you have to have a Turkish manager that really stuffs things up for a lot of people
Anyone who bought a property in a prohibited zone, and got round the law by putting the property in the name of a limited company was always skating on thin ice.

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