Calis Beach and Fethiye Turkey Discussion Forum

Property For Sale in Calis Beach & Turkey => Buying Property in Calis Beach, Fethiye and Turkey => Topic started by: jackstee on August 21, 2009, 18:59:24 PM

Title: Ltd Company
Post by: jackstee on August 21, 2009, 18:59:24 PM: Hi all
Trying ttto find information on opening a Ltd Company.
How to is easy but finding out costs, who to go to and the pro's and cons are difficult.

Need one for property ownership.

best regards

Steve
Title: Ltd Company
Post by: grahamturner09 on August 21, 2009, 19:39:27 PM: You don't need a company to own a property
Title: Ltd Company
Post by: Scunner on August 21, 2009, 20:19:54 PM: Depends which property it is Graham :)
Title: Ltd Company
Post by: Crabbit on August 21, 2009, 21:14:49 PM: My advice on opening a Limited Company in Turkey.

DON`T

(http://i409.photobucket.com/albums/pp173/crabbit49/crab.gif)
Title: Ltd Company
Post by: Scunner on August 21, 2009, 21:36:41 PM: You'll need to get an accountant to set up the company, probably best to start by visiting a solicitor to run through your plans. There are regular official costs and quite importantly, these continue even if your initial reason for having a limited company ceases (e.g. you sell the property). There are plenty of people who's limited company bit the dust as far as trading goes a long time ago; they still have costs relating to owning a limited company.

It's a big thing to take on, something you need to think through carefully.
Title: Ltd Company
Post by: cenk on August 22, 2009, 08:51:17 AM: With the new law . It is not that easy to buy a property on a company esthablished by foreigner/s
Title: Ltd Company
Post by: jackstee on August 22, 2009, 16:39:39 PM: Hi all
Tks for the comments
Cenk, How come.
Any sites I can visit ??

Regards
Title: Ltd Company
Post by: UzumluH2o on August 23, 2009, 10:16:53 AM: Cenk. What "New Law" are we talking about that makes it hard for foriegners to set up company to buy property? When was this "New Law" introduced. Thanks Phill
Title: Ltd Company
Post by: cenk on August 24, 2009, 10:50:56 AM: Sorry, I should say Current Law :)
Title: Ltd Company
Post by: Brandi on August 27, 2009, 16:37:23 PM: we looked at buying on Sovalye Island and for that you need to by in a company name. we were told you could buy the company 'off the peg' as you can in UK or set up one yourself. I understand you have to inject quite a substantial amount of money to do this. I was also concerned about the legalities if/when you die how that property sits as a company asset and whether, even with a Will, you can leave the property to children. Very complicated, not to be undertaken without a good deal of research, from different sources and I would suggest certainly not without a solicitor. we did not go ahead - frightened really by the complexity, legality and finance of it all. However, having said that, I actually know nothing about it but would wish you the very best of luck with your proposed venture :)
Title: Ltd Company
Post by: holidayworld on September 19, 2009, 23:31:03 PM: Hi Jack
It's really easy to open a LTD Company just get a good Lawyer and they can sort it out for you, cost's around £1000 to £1500 more or less.
Advice well I would NEVER open one again all you are ever doing is paying money out for that Company every year for NOTHING anything from £1000 to £2000 TOTAL waste of time unless you have so much money you just want to give it away.

If you ever want to close it down it normally takes 1 to 2 years and costs anything from £3000 or more.

Think about everything you need the Company for then check with the Lawyer make sure you know what you are getting yourself in to before you go ahead with it.
Title: Ltd Company
Post by: Harmless on September 20, 2009, 12:02:51 PM: I am with the others and would not recommend that you open a company, in order to buy land or property. If you really feel you must, get a very good solicitor and an even better accountant and then think again.