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Articles

Open Real Estate Funds in Turkey

Updated on Wednesday 13th December 2017

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Open-real-estate -funds-in-TurkeyForeign investors can set up various types of Turkish investment funds which is why they are attracted to this country. The Capital Markets Board approved several laws related to the establishment of each types of fund, which is why the legislation on setting up investment funds in Turkey is now very comprehensive. Also, one of the most employed structure is the real estate investment fund (REIF).

Our Turkish company formation representatives can offer full information on the legislation related to real estate investment funds.

Requirements to open a Turkish real estate investment fund

Foreign investors can register real estate investment funds only under the form of collective investment schemes without a legal personality in Turkey. These types of funds must be set up and administered by a portfolio management company which has been previously approved by the Capital Markets Board (CMB). The Turkish company will be allowed to invest in real estate assets and other financial instruments. The CMB provides for the following assets a Turkish real estate fund to invest in:

  • -          properties and rights over properties;
  • -          shares in public companies in Turkey;
  • -          deposits and participations;
  • -          warrants;
  • -          certificates.

Our company registration agents in Turkey can offer more information on all the instruments a real estate investment fund is allowed to put money into.

How to establish a real estate fund in Turkey

Real estate investment funds are only open to qualified investors who own assets worth at least 1 million TRY. The minimum amount required to open a real estate investment fund in Turkey is 10 million TRY. The fund managers or owners must draft the prospectus which will be submitted with the CMB for approval. Also, a minimum of 80% of the fund’s assets must be made up of real estate. These assets must be deposited with a custodian, which can be a bank or an insurance company.

The main benefit of Turkish real estate investment funds is that they are exempt from the corporate tax. You can contact our company formation consultants in Turkey for further information on the advantages of opening real investment estate funds in this country. We can also assist you with the registration of a company in Turkey.

 

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