Procedures for Syrians to own real estate in Turkey

  • Created At: April 7, 2020
  • Updated At: February 21, 2022
  • Category: Real-Estate investment in Turkey
  • Views: 3776

Turkey is witnessing an increasing participation of Syrians in supporting its local economy, as it has established thousands of companies partially or wholly owned by Syrians in Turkey.

A Syrian has the right to obtain a property in Turkey if he establishes a limited company or a company based on the principle of quotas, or if he establishes a partnership with one of the companies that are being established.

However, because these companies must be in the style of Turkish companies, and take into account the standards that are observed by the Turkish companies themselves, the Syrian citizen does not benefit from his partnership in obtaining the property if his partners are Syrians.

Therefore, the Syrian citizen will not be able to obtain a property in Turkey unless he establishes a limited company or a company that adopts the principle of quotas.

1- In the event that the partners of the companies that will be established are foreigners, they shall be subject to the foreign private commercial law.

2- The Syrian citizen, when he participates with 50 percent of the share of establishing a limited company or a joint stock company, or if he is the manager of the company, has the right to buy a property for the purpose of using it within the company’s activities, but it is required to obtain permission for this from the governor of the area to which the property belongs.

3- In the event that the Syrian citizen’s share in the company is less than 50 percent, or if he is not entitled to manage the company, he can buy a property according to the principles in which the Turkish citizen, “the owner of the company,” buys a property in Turkey.

Procedures for Syrians to own real estate in Turkey 2018 As a result: Syrian citizens are not entitled to directly own real estate in Turkey, only if they establish a limited company or a joint stock company and obtain a commercial register.

According to the data, Syrian companies are mainly concentrated in the city of Istanbul, followed by the state of Gaziantep, and then the coastal city of Mersin.

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#akarkom_real_estate   #real_estate_investment  

#property  #turkey_real_estate  #turkish_citizenship

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