daz7692

Member
accountant costs?
I have a Ltd company I used when buying two pieces of land .
Does anyone know what is a fair amount for an accountant to be charging when the company does nothing else?

Also I used the Ltd company to avoid waiting for army checks when i purchased. If I now want to transfer to my own name what costs am I likely to entail? ie charges tax etc as I paid all of this at purchase would I have more to pay when transfering from my company to me personally?

Thanks
 

garrym

Efendi
accountant costs?
I cant help you with the first question because I have not used accounts here, but I can help on the second. Unfortuanately, all the tax and noter costs are repeated on transfer. In the case of land this is very low, but for property more significant.
 

Sara-666

Member
accountant costs?
Accountancy costs are set at around 250tl per month (some charge slightly less, some slightly more) plus taxes and other sundries, works out in total about 4300tl per year including end of year book fees, which you still have to pay for an inactive company. Even if you now put the property into your own name, after paying for the military clearance and all taxes relating to that in the tapu office it will still take 2 years to wind down your company, with you having to pay all the charges whilst this is ongoing.
Very costly procedure as we have found out!

Sara
 

daz7692

Member
accountant costs?
really? Wow ...I guess i should start the process as keeping the Ltd company seems only beneficial for the accountant. I can't see any other benefits at this stage.thanks
 

chelsea boy

Dun Goat Herding!
accountant costs?
you don't need a limited company now.... but i think that they have closed the loophole that allows foreigners to buy land this way.
i have just closed a company and it was hideously expensive. In the end I told my accountant that i was leaving Turkey and he halved his bill..... it's abloody con from start to finish..... if you want to get rid of a company try to give it away and save closure costs!
 

Sara-666

Member
accountant costs?
you don't need a limited company now.... but i think that they have closed the loophole that allows foreigners to buy land this way.

What's this about you don't need a ltd company anymore? Do you mean because you can't buy this way or you have found a way of owning such land without a company? Would be interested to know.

Sara
 

immac

Senior Member Has-Been
accountant costs?
It means that the law change stopped foreigners using a company to buy land in this way. I don`t think it effects current owners but will stop people buying land unless it is linked directly to the business the company is operating e.g. you could buy land to build a bar using this vehicle, but not a plot of land on which to build a private house.

Ian
 

chelsea boy

Dun Goat Herding!
accountant costs?
I also think that you now don't need to buy a limited company..........which is expensive to run..... I will try to find out some more.
 

Mag

Member
accountant costs?
I also think that you now don't need to buy a limited company..........which is expensive to run..... I will try to find out some more.

If you could find out more that would be great..its a big overhead each year
 

Kadiklasi

Member
accountant costs?
Hi Im in the same boat >I need to get rid of a company fast.In a few words does anyone know the quickest way.?
I have to transfer the house also and this is looking like being expensive also.
Any help would be great.
Thanks

Paul
 

Sara-666

Member
accountant costs?
Did anyone find out anymore information about the limited companies?? After having spoken to different people about such companies it seems that although there are set fees that accountants charge they seems to vary greatly depending on the area and the accountant. It seems that only Ltd companies cost so much to have, other forms of companies although active (mine is inactive) cost a quarter of what we are paying per year!!! Can we as foreigners own any other form of company legally without a Turkish partner?


Sara
 

ChrisBobs

Member
accountant costs?
Did anyone find out anymore information about the limited companies?? After having spoken to different people about such companies it seems that although there are set fees that accountants charge they seems to vary greatly depending on the area and the accountant.
It seems that only Ltd companies cost so much to have, other forms of companies although active (mine is inactive) cost a quarter of what we are paying per year!!!
Can we as foreigners own any other form of company legally without a Turkish partner?


Sara

Sara I think you have to have a company, last I heard it was with a nominal share to a Turkish partner - but check that, you certainly cannot have a sole owner business registration.

Accountants - you have to shop around.
Why not stop off at the Bodrum Chamber of Accountants - on the hill down into Bodrum ( under the Marmara Hotel) , and ask for their take, possibly they may have guideline prices...?
 

dalyansteve

Member
accountant costs?
You do not need a Turkish partner for a Limited Company but you do need at least 2 shareholders.
The recomended costs for accountants list is often more than you can pay by negotiation. Many English property owners use Murat Goncu of Turgutreis, office just behind the mosque and above the shoe shop. I do not recomend anyone to use this method to buy property and suggest to anyone to look at something else that can easily be purchased without a Ltd Company.
 

Sara-666

Member
accountant costs?
Thanks both, but I already have a limited company, long story but to cut it short we bought on a ko-op, legally as we could buy there, just before applying for the tapu they moved the boundaries in Ortakent making the propery in a no buy zone for foreigners despite us 'owning it'. We decided to open a company to keep this house, along with the benefit or inheritance that it would be a moveable asset as it was owned by the company. We had to open a Ltd company and despite this being inactive we paid and still pay 4 times what our friend pays per year and she has an active company (her isn't ltd). I was just asking if their is any way of having any other type of company (with less yearly charges) without having a Turkish partner? Our accountant showed us the book with the set monthly prices for a Ltd company and we do pay less charges than these but it's still a great deal of money per year!


Sara
 

dalyansteve

Member
accountant costs?
No, the only type of company available to foreigners is a limited company, except by opening a branch of a foreign Ltd Co. which is even more complicated and I do not think this will cover your requirements. The only other option is to look for another accountant who will charge less??
 

SonnyJim

Living in Paradise!
accountant costs?
You can still open a Ltd co to buy land/property, friends completed this procedure a couple of weeks ago. Foreigners are unable to open any other type of company in this area.

We have been speaking to an accountant and it is possible to sell your company which is a quicker, easier option than waiting for the 2 years. When I say sell, I think you are more or less giving it away so as not to incur any more charges.

Our fees for the company total approx 3250TL per year (incl accountant fees, taxes, chamber of commerce etc).
 
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