Company Formation Turkey

CHECK COMPANY
NAME AVAILABILITY (Step 1)



Articles

Create a Trust in Turkey

Updated on Monday 12th June 2017

Rate this article
5 5 1
based on 1 reviews


Create-a-trust-in-TurkeyTurkey is a civil law country which enables its citizens to take advantage of various setups for the purpose of protecting their assets. One of the most popular ways of planning one’s estate is to create a trust. However, Turkey does not provide for the establishment of such entities. The closest structure to the trust in Turkey is the private foundation.

Our company formation consultants in Turkey can assist foreign investors who want to open companies in this country. They can also offer information on the concept of trusts in Turkey.

Trusts and private foundations in Turkey

Turkey does not acknowledge trusts or has any legislation which provides for their establishment. The private foundation is similar to the trust in Turkey because it can be set up for the same purpose and will basically have the same structure in terms of participants. Just like the trust, a private foundation can be opened in Turkey for the following purposes:

  • -          charity;
  • -          public services;
  • -          estate planning.

The establishment of a trust will be carried you by preparing a set of documents which must be signed by the settlor and the trustee. The documents, which can be a deed of trust or a will, must be notarized by a public notary.

Elements of the trust in Turkey

The trust must have a settlor who can be an individual or a company. Turkish companies can also set up trusts outside the country. Then, the settlor must appoint a trustee who can be an individual or a company and who will manage the assets conveyed through the deed of trust. The beneficiary or beneficiaries are those in favor of which the trust was created. The beneficiaries can be foreign or Turkish citizens.

Taxation of trusts in Turkey

Considering trusts are not recognized as legal entities in Turkey, the taxation system applicable will not have any negative impact on the settlor or beneficiaries of a trust. Considering trusts are used for estate planning reasons in most jurisdictions, the Turkish Tax Code provides for the levy of a tax on real estate transfer and of the value added tax.

For full information on the Turkish taxation system, please feel free to contact us. You can also rely on our company registration advisors if you want to open a company in Turkey.

 

Comments

There are no comments

Comments & Requests


Please note that client queries should NOT be posted here but sent through our Contact page.

Meet us in Istanbul


Call us now at +90 532 351 66 77  to set up an appointment with our specialists in company formation in Istanbul, Turkey. Alternatively you can incorporate your company without traveling to Turkey.

As a client of CS Yonetim ve Destek Hizmetleri, you will benefit from:

  • - 24 hour response time guaranteed;
  • - cost- efficiency; 
  • - dozens of articles and free information on the Turkish structures.

Online Incorporation

tax-calculator-turkey

Tax Calculator

tax-calculator-turkey

Testimonials

mihai-cuc.jpg

The team from CompanyFormationTurkey is very qualified and benefits from extensive expertise in this area. I would definitely recommend them to any entrepreneur decided to start his own business here.

Mihai Cuc, Partner of
Enescu&Cuc; Law Firm
www.romanianlawoffice.com

Read more testimonials

We recommend ClientPedia

This website is marketed by ClientPedia

banner Clientpedia.jpg

We accept online payments

paypal-logomic.png

Facebook page