F.A.Q.

F.A.Q.


Do I pay the full purchase price to the broker?

Not necessarily. I prefer that you pay a deposit of 10% of the asking price into our Brokers account. When the transfer of ownership and all other formalities are complete and I have the title document/papers from the seller, I will inform you and you would transfer the balance of the purchase price direct to the owner. When he confirms to me that he has received the money I will hand over the yacht’s documents to you and she is yours.

How do I buy a yacht in Turkey?

Very simple: you pay what the seller is asking and she is yours! (I have been in this business for 10 years and have sold about 155 boats – this has only happened once: Jan Birkelid from Norway bought a yacht from me for the asking price; if you did the same you would be my second best man)

How do Turkish banks work? As a non-Turkish citizen, can I have a non-Turkish currency account in my own name in Turkey, keep the money in the currency of my country, and transfer the money out of Turkey whenever I want?

Yes you can, and there is no tax liability, nor any limit to the amount.

I do not speak Turkish – how will I communicate with the authorities or know what I am signing?

All formalities in Turkey will be carried out through a Notary. The Notary will not let you sign any document that is not first translated in to your own language by an official translator. With bit of help from Network the procedure is relatively straightforward.

I have never been to Turkey and have some reservations concerning money transfer, clearance of ownership, etc. What can I do?

Let me know which country you are from and I will put you in contact with someone who has done business with us already with whom you can discuss your concerns. Or gave you the contact details of Internatýonal Lawyer’s addresses

I have never been to Turkey. If I decide to visit Turkey and arrange my own flights, who would help while I am there?

Yacht Brokerage Turkey, Bodrum would. I can arrange the hotel of your choice and inform you of prices etc. I can also collect you from the airport, and show you the yacht (s) you were interested. This is all part of the Network service.

If I am buying non Turkish flag boat, would the seller provide all the documents I need to register the yacht under my name (for example: Bill Of Sale, Transcript of registry, Deletion certificate, etc.)?

Certainly. However, some registrations such as ADAC Germany will not be able to prepare a Transcript of Registry as they have no records. But in these cases the seller would make a declaration that the boat is sold free of encumbrances and loans, and that all potential debts and/or charges on the yacht at the time of sale/purchase belong to him.

If I am non Turkish and I buy Turkish flag yacht, can I keep the Turkish Flag on my boat?

It is possible under the following conditions:

  1. If the boat is less than 48 tons and is registered with the Harbour Master ( not the Large Ship Register) and if you have residency in Turkey;
  2. If you have partnership with a Turkish citizen you register up to 49% ownership;
  3. Or, if you form Turkish Foreign Investment company, your company could own the boat 100% (very complicated and difficult) There are no other ways of owning a Turkish flag yacht at the moment. However, the Turkish Government, Minister of Shipping is talking about setting up a new Second Flag Registration for foreigners to carry Turkish flag, but it is not yet available
If I buy a yacht in Turkey will there be any tax to pay?

There will be no Turkish tax to pay if you buy a non-Turkish flag yacht in Turkey. Regarding Turkish flag boats there is a small tax (0.3%) on the declared sale price payable to the registry office if the boat is more than 48 tons. The sale price for tax purposes is based on a valuation survey commissioned by the seller. In short, buyers would know all additional cost fort he particular boat they have chosen in advance from us

If I do not find a boat which suits me on your list, can I contact you for what I am looking for?

Certainly. If, there is a yacht in Turkey that matches what you’re looking for, we will find her and let you know.

If I want to make some alterations on the boat I buy, are there any good Boatyards in Turkey that could do the work?

Yes, especially in Bodrum. The yards can carry out most types of work such as: osmosis treatment, engine rebuilds and new installation, mast and rigging repair and replacement, hull and deck painting, sail/awning and bimini top manufacture and repair, propeller and shaft repair and manufacture, cabin/interior modifications – practically anything you want. In addition, most new marine products and timber (e.g.. Teak) are available from local chandlers at good prices. Is it expensive ? Yes, it can be if you are not careful. There are many people in offering yacht repair services who seem cheap to begin with but turn out to be expensive in the end. However, if you find the right person at the start, arrange details and agree a fixed price, you can get the work done for much less than in Europe. We hope you will find in “related links” some of available options.

If the seller agrees to my offer, can I find certified surveyors locally?

There are Turkish and English surveyors available locally, for example in Izmir, Marmaris and Bodrum. Please Google it or check my “Related Links” in home page.

Is all this hassle really necessary ?

They are not 100% necessary, but if both parties agree to it, many potential hassles can be avoided at the beginning. From bitter experience I have discovered that it is not always possible to sort out problems with paperwork, if they occur later, by negotiating with Turkish officials.

It all sounds rather complicated – how much do I need to be involved in the process – can anyone supply me with simple details such as – How much and when ?

Once you have found a boat you want to buy, I will carry out the above and keep you informed of progress at each step, for instance: the amounts and dates of payment (for the deposit and the final balance) and when and where I will need you for formalities etc.

Suppose I view the yacht, and I want to make an offer subject to survey, who will handle the negotiation to buy?
Network Yacht Brokerage, Bodrum will. It is my job as broker to handle negotiations between the buyer and seller and make the agreement.
What about boatyard prices, mooring fees and the cost of other facilities?

Let me know what you want, please be specific about the type of boat, the length, the duration of stay etc., and I will supply you with all details.

What about if I want to buy Turkish flag yacht?

The buying procedure: checking yacht details, viewing, making an offer, surveying,etc. is the same as with any other boat. The only additional element would be the need to for Turkish export formalities.

What about the different types of Turkish registration for boats?

This is a bit complicated. Registration depends on whether the boat is more or less than 48 tons, and whether it is placed on the Ship register or registered at the harbor masters office. The process of (and formalities related to) buying and selling concerns the type of ownership, whether it is commercial or private, and whether the boat is older than 10 years or not. Therefore, a combination of the above factors will determine which rules apply. Network will advise you on the best option for your circumstances.

What is the best way to search the Turkish Second Hand yacht Market?

Congratulations – you have found the Best Website and Brokerage for second hand yachts in Turkey.

What other documents do I need for in relation to Turkish formalities?

None. Your new registration which shows your name as owner will be enough. But I have found it useful to have the signature of the seller on the Bill of sale authenticated by the Turkish consulate in his own country, especially if he is sending documents to me from abroad. However, if the seller signs the Bill Of Sale while he is in Turkey, his consulate here authenticates the signature.

What would you charge for supplying this information?

None, This is part of our service for out “potential” clients.

Who will be paying the brokerage fee, the buyer or the seller?

The seller usually pays the brokerage fee. Normally, our fee is between 3% and 10% depending on the asking price.

Who will handle export formalities?

We can arrange an export agent to carry out the formalities involved or you can make your own arrangements.
At what cost;
Varies from $2.000 US to $6.000 US depending on value of the boat.

Who would handle the purchase and all the formalities?

Murat Toprak
of Network Yacht Brokerage, Bodrum. I (Murat) am a marine engineer and have been handling Brokerage since 1990. Network was established in 1987 by my former partner Gavin David who took brought me into the business as a partner in 1990. In 1991 I assumed control of the company when Gavin returned to the UK. However I am still in regular contact with him and we asist each other with formalities in areas outside Turkey.