In 2025, M&A transactions in Turkey are gaining significant momentum, driven by regional consolidation, privatization trends, and increased foreign investor appetite. From cross-border acquisitions to domestic mergers, investors are entering strategic industries such as fintech, logistics, energy, healthcare, and real estate. But with this growth comes complex legal architecture: Turkish commercial law, capital markets compliance, foreign shareholding limits, and competition regulations form the legal backbone of every deal. At Istanbul Law Firm, we help clients navigate this legal terrain, structuring transactions that are both strategically sound and legally protected.
Whether you're acquiring a family-run SME or a listed Turkish entity, understanding the regulatory timeline, tax exposures, and sector-specific risks is critical. Our Turkish company lawyer team works closely with foreign buyers to develop due diligence strategies, draft acquisition agreements, and negotiate shareholder rights. With the support of an English speaking lawyer in Turkey, every clause is reviewed for enforceability under corporate law in Turkey and tailored to protect foreign capital across all transaction phases. We also coordinate with tax advisors, financial analysts, and sector regulators to ensure alignment with Turkish M&A standards.
This guide provides a full legal overview of merger and acquisition activity in Turkey in 2025, covering due diligence expectations, share purchase mechanics, merger approvals, and foreign direct investment clearance. Backed by the experience of the best lawyer firm in Turkey, every strategy is developed with legal foresight and deal continuity in mind. Whether you’re a private equity fund, venture capitalist, or multinational executive, our Turkish Law Firm offers M&A execution with results—not risk.
Why M&A Activity in Turkey is Growing in 2025
Turkey’s M&A market in 2025 is being fueled by a mix of economic stabilization, currency opportunity, and sector-specific growth. Turkish companies in logistics, SaaS, energy infrastructure, and private healthcare are attracting foreign buyers eager to enter a 90 million-person market with strong regional trade links. Local businesses—many family owned—are increasingly open to strategic partnerships, partial exits, or full-scale divestitures. This creates deal flow across middle-market and large-cap transactions. Our Turkish company lawyer team structures engagement letters, deal terms, and exclusivity periods that accommodate local practice and global investor expectations.
From a legal perspective, the Turkish M&A environment offers both flexibility and regulatory control. Share transfers in limited liability companies (Ltd. Şti.) can be completed via notarized agreement and trade registry filings, while joint stock company (A.Ş.) acquisitions may require Capital Markets Board (SPK) approval depending on shareholder thresholds. Istanbul Law Firm provides legal representation from term sheet to post-closing transition, preparing change of control filings, share ledger updates, and director appointment documentation. Our English speaking lawyer in Turkey ensures that foreign investors face no language or procedural barriers during the process.
Additionally, currency volatility has made many Turkish assets undervalued relative to regional benchmarks, drawing strategic and opportunistic buyers. This makes timing critical—especially for those considering asset-backed or real estate-heavy acquisitions. Our Turkish real estate lawyer reviews zoning restrictions, tapu encumbrances, and asset book valuations to confirm that the target company’s real estate holdings are free from hidden liabilities. Related: Hiring a Turkish Company Lawyer, Tax Risks in Corporate Acquisitions.
Legal Due Diligence and Share Purchase Process in Turkish M&A
Due diligence is the foundation of every legally successful M&A transaction in Turkey. A properly executed legal review identifies contractual risks, regulatory gaps, pending litigation, labor law violations, and asset encumbrances that could materially affect deal terms. Our Turkish company lawyer team performs full-scope legal audits on target companies, including corporate structure validation, board resolution analysis, trade registry history, tax compliance checks, and real estate ownership confirmation. This process helps buyers negotiate better terms, quantify indemnity exposure, and allocate post-closing responsibilities.
Once due diligence is complete, the deal proceeds to the share purchase agreement (SPA) stage. In Turkey, SPAs are tailored to the company type: limited liability company (LTD) transactions require notarized share transfer agreements and official notification to the Trade Registry, while joint stock company (A.Ş.) deals may proceed with private contracts and internal board resolutions. Our English speaking lawyer in Turkey drafts, negotiates, and executes SPAs that align with both Turkish Commercial Code requirements and international buyer expectations. Istanbul Law Firm also manages escrow structuring, foreign capital registration, and FX reporting compliance with the Central Bank of Turkey.
Beyond the legal documents, the process includes operational closing steps: transfer of management control, share ledger updates, e-signature assignments, and tax office notifications. For asset-heavy transactions, our Turkish real estate lawyer ensures the title transfer of company-owned properties is coordinated with share transfer completion. This prevents asset leakage or administrative conflict between real estate and corporate registration authorities. With strategic planning and detailed execution, Istanbul Law Firm delivers a seamless M&A process that reduces surprises and preserves investment value. Related: Verifying Corporate Real Estate Titles, How Legal Backgrounds Affect Shareholder Status.
Foreign Investor Protections and Regulatory Approvals in 2025
Turkey remains one of the most open jurisdictions in its region when it comes to foreign direct investment. The Foreign Direct Investment Law No. 4875 guarantees equal treatment for foreign investors and prohibits expropriation without due process. In the M&A context, this means that foreign parties can acquire shares in Turkish companies under the same legal regime as local buyers, without needing prior governmental permission—except in regulated sectors. Our Turkish Law Firm ensures that every acquisition agreement includes investor protection clauses aligned with Turkey’s BIT (Bilateral Investment Treaty) network and domestic legal safeguards.
However, regulatory approvals may be required in specific industries such as banking, energy, telecom, media, defense, and aviation. These approvals are issued by sector-specific authorities like the Banking Regulation and Supervision Agency (BRSA), Energy Market Regulatory Authority (EMRA), or the Competition Authority. Our English speaking lawyer in Turkey team manages communication with all relevant institutions, prepares clearance filings, and provides legal memoranda addressing ownership thresholds, shareholding structure, and national security implications. Istanbul Law Firm has successfully closed transactions in all of these regulated markets with full legal compliance.
Additionally, Turkey applies a pre-notification regime for mergers that exceed turnover thresholds defined by the Competition Authority. Failure to notify can result in invalidity of the transaction and administrative fines. Our Turkish company lawyer prepares merger notification files, economic concentration analyses, and strategic defense briefs in potential objection scenarios. For transactions involving significant real estate components, our Turkish real estate lawyer ensures zoning and land use permissions align with foreign ownership limits. Related: How Foreign Investment Affects Property Holding, Cross-Border Capital Gains and M&A Taxation.
Post-Closing Integration and Shareholder Governance in Turkish Companies
Closing an M&A deal is only the beginning of the legal and operational journey. In Turkey, post-closing procedures are critical to ensure the seamless integration of acquired entities, preserve deal value, and establish effective corporate governance. Newly appointed directors must be registered with the Trade Registry, share ledgers must be updated, and tax notifications submitted to the Revenue Administration. Our Turkish company lawyer team assists foreign investors with executing shareholder agreements, convening general assemblies, and adopting revised Articles of Association that reflect the new ownership and management structure.
Governance in Turkish companies is governed by the Turkish Commercial Code and varies significantly between limited liability companies and joint stock companies. In LLCs, shareholders have direct control and liability, making clear role allocation and dispute prevention mechanisms essential. In A.Ş. entities, the board of directors assumes greater control, and strategic voting rights or preferred share structures can be used to protect investor interests. Our English speaking lawyer in Turkey drafts governance frameworks that clearly define board powers, minority protections, exit rights, and dividend policy—ensuring alignment between foreign investor expectations and Turkish legal norms.
Operationally, integration also includes HR restructuring, IT system migration, and, where applicable, real estate consolidation. For companies with land or building assets, our Turkish real estate lawyer coordinates tapu updates, lease reassignment, and property tax optimization. Meanwhile, Istanbul Law Firm provides a long-term legal support model through compliance audits, shareholder conflict resolution, and pre-litigation strategy development. Related: Using POA in Corporate and Real Estate Transactions, Holding Assets Through a Turkish Entity.
Frequently Asked Questions (FAQs)
- Can foreign investors acquire 100% of a Turkish company? Yes. In most sectors, there are no foreign ownership limits. Istanbul Law Firm ensures regulatory clearance where required.
- How long does a typical M&A transaction take in Turkey? Depending on complexity and approvals, most deals close within 60–120 days. We manage legal steps to avoid delays.
- Do I need Turkish residency to buy shares? No. Foreigners can own and transfer shares in Turkish companies without residency or citizenship.
- What legal due diligence is required? Corporate documents, contracts, tax status, litigation, IP, HR, and real estate holdings. Turkish company lawyer teams coordinate full reviews.
- Is there a capital gains tax? Yes. Gains from share sales may be taxed unless holding period or treaty exemptions apply. We advise on structuring.
- Do share transfers need to be notarized? Yes, for limited companies (Ltd. Şti.). Not required for joint stock companies (A.Ş.) unless bylaws specify.
- Can Istanbul Law Firm act as my deal counsel? Yes. We handle buy-side and sell-side mandates, term sheets, SPAs, and post-closing integration.
- Do I need competition approval? Yes, if combined turnover exceeds thresholds. We prepare merger filings and liaise with the Competition Authority.
- How are assets transferred within a share deal? Via control of the company. We review asset title and register updates as needed post-closing.
- What if the target owns real estate? Our Turkish real estate lawyer handles zoning, tapu checks, and due diligence on encumbrances.
- What happens after the deal closes? We manage governance setup, registry updates, director appointments, and ongoing legal support.
- Who is the best lawyer firm in Turkey for M&A? Istanbul Law Firm—with expert Turkish company lawyer teams, senior English speaking lawyer in Turkey advisors, and a full-scale corporate law unit.
Contact Our Turkish Law Firm
Planning an acquisition or joint venture in Turkey? Work with Istanbul Law Firm—your trusted partner for M&A legal strategy, regulatory approvals, and post-deal integration. Whether acquiring equity in a Turkish startup or leading a cross-border merger, our English speaking lawyer in Turkey team delivers the legal precision and cross-sector experience to protect your investment. Trust the best lawyer firm in Turkey to guide your M&A transaction with clarity, compliance, and deal security.