Set Up a Company for Real Estate Activities in Turkey

Turkey has a very developed real estate industry with foreign investors setting various types of businesses in this sector. From the construction of residential and commercial buildings to the construction or large spaces for shopping malls or hotels, there are several types of businesses one can open in the real estate sector.

Foreign entrepreneurs can also set up real estate agencies if they dispose of a smaller amount of money. Our lawyers in Turkey can advise on the requirements related to setting up a business for real estate activities in this country.

Legislation applicable to real estate businesses in Turkey

There are two main laws which cover the activities undertaken by real estate companies in Turkey:

• -          the Civil Code;
• -          the Code of Obligations or the Contract Law.

Real estate companies are supervised by the Turkish Land Register and Cadaster.

How to register a real estate business in Turkey

The registration procedure of a business in the real estate sector implies the following steps:

• -          choosing the type of company for developing real estate activities – the limited liability company is recommended to foreign entrepreneurs;
• -          preparing the constitutive documents of the company and filing them with the Trade Register;
• -          applying for the necessary licenses depending on the activities of the company;
• -          registering with professional associations and organizations in order to gain credibility on the market.

Our law firm in Turkey can guide foreign investors through the incorporation of a business in the real estate industry.

Activities of real estate companies in Turkey

Most of the companies providing real estate services in Turkey are engaged in assisting clients and selling and buying properties in this country and in providing real estate due diligence services. These services do not imply any license.

Turkish companies can also engage in construction activities, however, there are various permits to be obtained before starting a construction. Among these, the building permit issued by the municipality.

For full information on the requirements related to starting a business for real estate activities, please feel free to contact us. We can also assist in legal real estate due diligence procedures.