Selling Shares from Türkiye to Foreign Investors

In recent years, a rapidly growing number of ventures in Türkiye have connected with international investors. Turkish ventures now attract investment not only in the domestic market but also on the global stage. One of the most critical steps in this process is selling shares from Türkiye to foreign investors.

When a venture or company transfers shares to a foreign investor, it is more than a financial transaction; it also marks the company’s emergence as a global business. However, this step must be managed correctly from both legal and financial perspectives.

This article examines in detail the process of selling shares from Türkiye to foreign investors, the applicable legal regulations, tax implications, investor relations, and how Marca World supports businesses throughout the process.

What Does Selling Shares from Türkiye to Foreign Investors Mean?

Simply put, it is the sale of all or part of the shares in a company incorporated in Türkiye to a foreign individual or company. The transaction may take the form of a direct investment, partnership, or strategic merger.

Selling shares to foreign investors is more than a change in ownership. It also enables the company to integrate into an international structure. For startups and technology ventures in particular, it is one of the most effective ways to secure investment.

For example, a Turkish technology venture may sell a %15 stake to a US-based investment fund, gaining both capital and access to global markets.

Why Sell Shares to Foreign Investors?

There are both strategic and financial reasons for selling shares to a foreign investor.

• Raising Investment: The most common reason is to secure growth capital. Startups in particular sell shares to obtain funding from investment funds.
• Building a Global Partnership: Working with an international investor enhances the company’s credibility in the global market.
• Increasing Brand Value: The involvement of a foreign investor strengthens the brand’s corporate reputation.
• Exit Strategy: Founders may transfer shares in ventures that have reached a certain level of maturity to realize a return or fund new projects.

In short, selling shares is not merely a financial transaction but a strategic move for growth.

Legal Framework for Selling Shares from Türkiye to Foreign Investors

Selling shares from Türkiye to foreign investors is permitted, but it is subject to specific legal requirements.

• Turkish Commercial Code (TCC): The share transfer procedure varies according to the type of company. In limited liability companies, the transfer is made through a notarized agreement, while in joint stock companies, recording the transfer in the share ledger is sufficient.
• Capital Markets Board (CMB): If the sale involves a publicly traded company, CMB regulations apply.
• Decree on the Protection of the Value of Turkish Currency (Decree No. 32): Because a share sale to a foreign investor involves a foreign currency transfer, it is subject to this regulation.
• Tax Laws: Gains from the sale of shares may be assessed under Income Tax or Corporate Tax rules. However, double taxation agreements are taken into account when shares are sold to foreign investors.

Obtaining appropriate legal guidance is critical throughout these processes.

How Does the Share Sale Process Work?

The process of selling shares from Türkiye to foreign investors generally consists of several key stages.

1. Company Valuation

Before selling shares to an investor, the company’s true value must be determined. This assessment is based on financial statements, revenue projections, market share, and growth potential.

A professional valuation report builds investor confidence and strengthens the seller’s negotiating position.

2. Share Purchase Agreement

This agreement sets out all terms of the sale, including the purchase price, payment schedule, percentage of shares, the parties’ obligations, and the transfer date.

The agreement must be drafted in compliance with both Turkish law and the regulations of the foreign investor’s country.

3. Share Transfer and Approval Process

In limited liability companies, the share transfer is executed before a notary and registered with the trade registry. In joint stock companies, the transfer is recorded in the share ledger.

When a foreign investor is involved, the foreign currency transfer process must also be documented.

4. Tax Obligations

Gains arising from the sale of shares are taxable in certain circumstances. However, the Double Taxation Agreements Türkiye has signed with many countries may reduce this burden.

It is therefore essential to obtain financial advice before the sale.

5. Transfer of Funds

The foreign investor generally sends the purchase price to Türkiye through a bank in foreign currency. The transaction is recorded by the Central Bank and reported under foreign exchange regulations.

Key Considerations When Selling Shares to Foreign Investors

Several critical matters should be considered when selling shares to a foreign investor:

• The Company’s Financial Transparency: Investors expect financial statements to be prepared in accordance with international standards.
• Language and Governing Law of the Agreement: The agreement is often drafted in English, and the parties may choose international arbitration.
• Intellectual Property Rights: Ownership of assets such as software, trademarks, and patents must be clearly stated.
• Post-Investment Rights: Details such as the investor’s board representation, veto rights, and information rights must be clearly defined.

A properly structured share sale not only improves investor satisfaction but also facilitates the company’s future funding rounds.

Foreign Investors’ Interest in Türkiye

In recent years, Türkiye’s entrepreneurial ecosystem has gained remarkable momentum. Turkish ventures in software, fintech, logistics, artificial intelligence, and e-commerce have attracted particular attention from foreign funds.

Investors based in the US, the UK, Germany, and the Gulf are showing interest in high-potential startups in Türkiye. This interest is driven by:

• A cost-effective talent pool
• A dynamic market structure
• A strategic geographic location
• A rapidly growing digital economy

Therefore, selling shares from Türkiye to foreign investors is not merely a sale transaction; it opens the door to building sustainable relationships with global investors.

The Role of Brand and Trust in Share Sales

Foreign investors consider not only financial reports but also the credibility of the brand. A professional brand identity, strong communication, and a transparent digital presence can make a significant difference in an investor’s assessment.

Marca World supports entrepreneurs not only with legal processes but also with brand strategies designed to strengthen investor confidence.

Making the right impression is just as important for a venture as securing investment. Global investors prefer to work with brands that project an “investment-ready” image.

Marca World’s Role in Selling Shares from Türkiye to Foreign Investors

Marca World is a trusted guide offering professional consultancy to Turkish entrepreneurs throughout their international expansion and investment processes.

In a complex process such as selling shares to foreign investors, it provides guidance at the legal, financial, and strategic levels:

• Company valuation support
• Preparation of share purchase agreements
• Investor relations management
• Brand credibility and communication strategy
• Tax and regulatory consultancy

Marca World helps entrepreneurs not only sell shares but also establish a sound basis for collaboration with global investors.

An investment agreement is not merely a sale; it is a partnership built for the future.

A New Era for Entrepreneurs Going Global

Today, a Turkish venture can find investors in London, open an account in Singapore, and establish a parent company in Delaware.

This transformation is creating entirely new opportunities for entrepreneurs.

Selling shares from Türkiye to foreign investors is one of the most powerful tools driving this transformation. When managed correctly, it becomes more than an investment; it becomes a story of global expansion.

Marca World is a trusted partner for entrepreneurs who want to write that story successfully.