Investment in Turkey with Panama company question?

**benjamin** · 01-14-2011, 09:14 AM

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** · 01-28-2011, 08:54 AM

Any input please?

**pluma** · 01-29-2011, 08:14 AM

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.

**gruntler** · 01-30-2011, 08:08 PM

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.

**Admin** · 01-31-2011, 08:05 AM

Originally Posted by gruntler

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.