Can I Bay I Flat in Istanbul ?

Hello every one
I am from Iraq - Baghdad ,i want help , i wish to know if i can bay a flat in Istanbul and rent it for tourists ?? and in this case i must bay 2 flats one for me and the other for rental business,, and would i have tapu registered in my name ??..

Best Regards

Alıntı: Yazan Konuk Hello every one I am from Iraq - Baghdad ,i want help , i wish to know if i can bay a flat in Istanbul and rent it for tourists ?? and in this case i must bay 2 flats one for me and the other for rental business,, and would i have tapu registered in my name ??.. Best Regards

Dear Konuk,

You can not buy a flat in Istanbul if you are Iraqi citizen because of reciprocity principle. Since Iraqi government does not give permission to Turkish citizens to buy immovables in Iraq, you can not buy any in Turkey.

Sincerely

Dear sir
First i want to thank u for the information u provided
second i want to ask u if i set up a company can i bay a flat by the company ? and would the tapu would be register to the company name that i have ( if i set up a company)
and if so what is the type of the company that i have to set up ?

Yes you can but it depends on the circumstances. And here on this website we are not allowed to share detailed information.

You should get some legal advise from a lawyer.

Thank you dear Av. Peitho Minerva ,, and i am very sorry if i shared any detailed information

Alıntı: Yazan Konuk Thank you dear Av. Peitho Minerva ,, and i am very sorry if i shared any detailed information

The reciprocity principle will not apply anymore. Council of Ministers will publish a list which will indicate the countries whose citizens will be entitled to buy property in Turkey. In your particular case, assuming that Iraqi citizens are not mentioned in that list, you may set up a company in Turkey where the foreign partner will hold at least 51 % of the shares, indicate in the articles of incorporation that the company will involve in hotel/motel/pension business, and for this purpose may buy/sell immovable property. Once formation of the company has been duly completed, the company may buy the type of immovable property falling into its scope of business mentioned in its articles of incorporation.

Alıntı: Yazan İzzet Hamle The reciprocity principle will not apply anymore. Council of Ministers will publish a list which will indicate the countries whose citizens will be entitled to buy property in Turkey. In your particular case, assuming that Iraqi citizens are not mentioned in that list, you may set up a company in Turkey where the foreign partner will hold at least 51 % of the shares, indicate in the articles of incorporation that the company will involve in hotel/motel/pension business, and for this purpose may buy/sell immovable property. Once formation of the company has been duly completed, the company may buy the type of immovable property falling into its scope of business mentioned in its articles of incorporation.

Regarding the sort of company to be established in Turkey, there is no mandatory rule, and therefore, you may set up a limited liability company, which requires at least two partners, or a joint stock company, which requires at least 5 shareholders. However, this requirement regarding number of the partners/shareholders in the above mentioned companies will have been amended after the new Turkish Commercial Code enters into force in July, 2012 in Turkey. The foreign shareholder in the company established in Turkey may be a real person, or a legal entity which was duly formed in a foreign country. However, regardless of whether the foreign shareholder is a real person or a company, the minimum amount of shares to be hold in the company in Turkey by the foreign shareholder is minimum 51 % the capital.

Dear Mr İzzet Hamle
i am really thankful for the information u provided , u answered all my questions.
but how can i have the list that the Council of Ministers will publish ?

Best Regards