Legal Advice – Türkiye

1- Can a foreigner own land or property in Turkey for investment purposes?

A foreigner can own land in Turkey for various purposes, provided that the total area does not exceed 30 hectares. Additionally, they can own all types of real estate.

2- Are there any restrictions on using land for industrial or commercial projects?

Investors have the right to use the land they own for various purposes (industrial, commercial, etc.), as long as it complies with the prevailing zoning regulations in the area.

3- What are the requirements for converting agricultural land (not yet zoned) into residential land?

In Turkey, zoning laws are classified under regulatory codes such as (1/100,000) and (1/5000), which define urban planning regulations. When there is a need to expand residential areas, authorities create new zoning plans and regulations for those areas.

4- Can a foreigner register a company in Turkey, and does it require a local partner?

Foreign investors in Turkey can establish and fully own a company without the need for a local partner.

5- What types of companies are available in Turkey?

The main types of companies in Turkey are:

• Sole proprietorship

• Joint-stock company

• Limited liability company

Each type differs in terms of permitted activities, establishment costs, and taxation.

6- What are the procedures, costs, and time required to register a company? Can it be registered through a power of attorney?

A foreign investor can authorize a certified financial consultant via a power of attorney, which can be issued inside or outside Turkey. The consultant will then handle the company registration process, which typically takes 3 to 5 business days. Once completed, the investor must personally sign the company documents at the Notary Public (Noter). Afterward, a corporate bank account is opened, and a new power of attorney is issued for the financial consultant to manage accounting and tax matters.

The total registration costs, including consultant fees and government charges, range between $500 and $1,500, depending on the type of company, its activities, and declared capital.

7- Can contracts be notarized in Turkey to protect investors from potential disputes?

Yes, there is a specialized notarization office called “Noter” (Notary Public) that can authenticate all types of contracts and agreements.

8- Are there any government incentives for foreign investors?

The Turkish government offers tax exemptions for certain types of foreign companies and allows them to import machinery and equipment with reduced or zero customs duties. Additionally, the government encourages investment in sectors like livestock farming and energy production by providing financial support and loans for these industries.