- 1 Why You Need a Power of Attorney in Turkey
Why You Need a Power of Attorney in Turkey
How to save time and money by granting a power of attorney to a trusted person or a lawyer in Turkey
If you are a foreign investor who wants to buy a property, open a company, or handle any legal matters in Turkey, you may face some challenges due to the distance, language barrier, and different legal system. You may not be able to travel to Turkey frequently or stay there for long periods of time to complete all the necessary procedures and formalities. You may also need someone who can represent you before the Turkish authorities and protect your interests.
That’s why you may need a power of attorney in Turkey. A power of attorney is a legal document that allows you to authorize another person, called an agent, to act on your behalf in certain situations. By granting a power of attorney, you can save time and money, avoid hassle and stress, and ensure that your transactions are done smoothly and professionally.
A Guide for Foreign Investors
In this article post, we will explain what a power of attorney is, what types of power of attorney exist in Turkey, what are the benefits of having a power of attorney in Turkey, and how to grant a power of attorney valid in Turkey.
What is a Power of Attorney?
A power of attorney is a written authorization that must be signed in front of a notary by which you empower an experienced and trustworthy person to act on your behalf in legal matters or transactions. When you give someone a power of attorney, you are effectively saying by law “You may act on my behalf with these powers” and for all transactions that are carried out with a power of attorney given by you, you will be responsible yourself.
Therefore, it is advisable to give power of attorney only to professional registered and certified solicitors, attorneys or lawyers who are legally bound to act in your best interests. Also, it is advised to give power of attorney for a limited period of time and for only the powers which the agent would need.
Types of Power of Attorney in Turkey
There are two types of power of attorney recognized by the Turkish Civil Code. These are:
- The general power of attorney: This type of power of attorney gives the agent broad authority to perform multiple tasks on your behalf. For example, you can grant a general power of attorney to your lawyer to handle all your legal matters in Turkey.
- The special or specific power of attorney: This type of power of attorney gives the agent limited authority to perform only one specific task on your behalf. For example, you can grant a special power of attorney to your lawyer to buy or sell a property on your behalf.
Benefits of Having a Power of Attorney in Turkey
There are many benefits of having a power of attorney in Turkey, especially if you are a foreign investor who wants to do business or own property in this country. Some of these benefits are:
- You can save time and money by avoiding unnecessary travel and accommodation expenses.
- You can avoid hassle and stress by delegating the tasks to someone who knows the Turkish legal system and language better than you.
- You can ensure that your transactions are done smoothly and professionally by someone who has experience and expertise in the field.
- You can protect your interests and rights by having someone who can represent you before the Turkish authorities and courts if needed.
How to Grant a Power of Attorney Valid in Turkey
If you want to grant a power of attorney valid in Turkey, you have two options:
- You can sign the power of attorney in a notary office in Turkey. You will need to present your passport and have an official translator with you if you don’t speak Turkish.
- You can sign the power of attorney in a Turkish consulate in any country. You will need to present your passport and have the document translated into Turkish by an authorized translator.
In both cases, you will need to pay a fee for the notarization and translation services. The fee may vary depending on the type and scope of the power of attorney.
Conclusion and Recommendations
A power of attorney is a useful tool for foreign investors who want to do business or own property in Turkey. By granting a power of attorney to a trusted person or a lawyer, you can save time and money, avoid hassle and stress, and ensure that your transactions are done smoothly and professionally. However, you should be careful when choosing your agent and the powers you give them, as you will be responsible for their actions.
If you need any assistance with granting a power of attorney in Turkey, or any other legal matters related to investing in Turkey, you can contact us and we will be happy to help you.
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