Investment in Turkey with Panama company question?

[benjamin]

Hi,


I want to buy a summer residence in Turkey like many in Europe do now the Real Estate firm told me that it is only possible to by a property with a Turkey Company they will not allow a Panamanian intety wether it be a foundation or company!


How can I do that?


Do you know what it costs to incorporate a company in Turkey and who can do that the real estater said he knows a lawyer who is asking for 7000 euro's to do so.

 

[benjamin]

Any input please?

 

[pluma]

The structure you need isn't very complicated, form a foundation in Panama or any other offshore jurisdiction which offer proper privacy then let the Panamanian foundation incorporate the company in Turkey and you are good. now you can find a bank (ask the agent how incorporate your turkish company to help) to open a bank account and open an account as well in Cyprus.

 

[fernadex]

Why a foundation in Panama and not a Panama company holding shares in the Turkish company? Sorry if that is a stupid question and to interrupt this thread.

 

[JohnLocke]

Why a foundation in Panama and not a Panama company holding shares in the Turkish company? Sorry if that is a stupid question and to interrupt this thread.

It could as well be a Panama company / IBC but most want a foundation in Panama if the plan is to hold shares of other companies from one central entity. I'm not awar of the privacy such a panamanian foundation offer any longer with the many TIEA's and DTA's signed by the country, this may be different dicussion.

 

[MiltonStone]

As admin suggested, form a foundation either in Panama, Seychelles or anywhere else and let the foundation own the Turkish IBC.