Escrow Services in Turkey
Baris Erkan Celebi, Attorney at Law
An escrow is a neutral third party that holds money or assets during a transaction and releases them only after the agreed conditions are fulfilled. Baris Erkan Celebi has been providing escrow services in Turkey since 2016 — securing real estate, yacht, aircraft, and company share transactions for foreign investors.
Escrow Services Since 2016
Escrow in Turkey — How It Works
An escrow is a neutral third party that holds money or assets during a transaction and releases them only after the agreed conditions are fulfilled. The purpose of escrow is to protect both the buyer and the seller. The buyer knows their money will not be released prematurely, and the seller knows the payment is already secured.
Escrow is commonly needed when large sums of money are involved and the parties do not fully trust each other yet. For example, when purchasing real estate in Turkey, the buyer usually has to pay the price before the seller transfers ownership at the land registry. If the buyer pays first, the seller might fail to transfer ownership. If the seller transfers first, the buyer might fail to pay. An escrow service eliminates this risk.
The escrow agent holds the buyer's funds and releases them only after the seller fulfills their obligations, such as transferring ownership of the property. For the full terms and conditions of escrow arrangements, see: Escrow Agreements in Turkey.
The most common use case for escrow in Turkey. Funds are held until the title deed is transferred at the land registry, protecting the buyer from paying for property that is never delivered.
When acquiring shares in a Turkish company, escrow ensures the purchase price is released only after the share transfer is registered at the Trade Registry and all contractual conditions are met.
High-value vessel transactions carry significant risk. Escrow holds payment until the vessel registration is completed at the relevant harbor authority and the vessel is delivered in agreed condition.
Aircraft purchases in Turkey follow a similar escrow logic — funds are secured until the aircraft registration is transferred at the Directorate General of Civil Aviation.
For cross-border commodity deals and other high-value international transactions where neither party has an established relationship, escrow provides the neutral security layer both sides need.
What Does an Escrow Do?
An escrow service manages the payment process and ensures that the transaction follows the agreed conditions.
How Escrow Works — Step by Step
The escrow agent drafts and signs an escrow agreement between the buyer, seller, and escrow agent. The agent then receives and securely holds the buyer's funds. Once the contractual conditions are fulfilled — for example, transfer of ownership — the escrow agent verifies completion and releases the funds to the seller. If the seller fails to meet the contractual requirements, the funds are returned to the buyer.
In many cases, the escrow agent also assists with drafting or reviewing the underlying purchase agreement to ensure the transaction is structured safely from the outset.
Escrow Fees in Turkey
Escrow fees generally range between 1% and 3% of the transaction amount, depending on the complexity and risk level of the transaction.
Baris Erkan Celebi, Attorney at Law, offers escrow services in Turkey for 1% of the transaction value for fully traceable bank-to-bank transactions. The escrow fee can be shared between the buyer and the seller if the parties agree.
The fee covers the full escrow cycle: agreement drafting, fund custody, condition verification, and fund release or return. Additional legal services such as due diligence on the underlying asset are quoted separately.
Are Escrow Agreements Legal in Turkey?
Yes. Escrow agreements can legally be made under Article 26 of the Turkish Code of Obligations. As long as payments are made through banks and supported by proper documentation — such as invoices or official sale agreements — escrow arrangements are fully lawful.
Attorneys in Turkey maintain designated client accounts, usually in Vakıfbank, where they hold funds belonging to clients. Under Article 82/2 of the Turkish Enforcement and Bankruptcy Law and Article 164/5 of the Turkish Attorney Law, funds held by attorneys on behalf of clients are protected and cannot be seized or blocked by third parties.
If an attorney acting as escrow violates the agreement, the aggrieved party can file a criminal complaint for breach of trust under Turkish Penal Code Article 155 and pursue civil damages. Additionally, the attorney faces disciplinary proceedings before the Bar Association, which can result in suspension or disbarment.
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Escrow services in Turkey · Antalya Bar No. 6134 · 1% fee for bank-to-bank transactions
Escrow Services by Baris Erkan Celebi
Baris Erkan Celebi, a Turkish attorney, has been providing escrow services in Turkey since 2016. These services help foreign and domestic investors complete transactions safely.
Real Estate Escrow
Funds held until title deed transfer is completed at the land registry. The escrow agent verifies that the property is free of encumbrances, mortgages, and restrictions before releasing payment to the seller.
Escrow Turkey →Yacht & Aircraft Escrow
Secure payment holding for vessel and aircraft acquisitions. Funds released only upon confirmed registration transfer at the harbor authority or Directorate General of Civil Aviation.
Yacht Registration →Company Share Escrow
Payment secured during share transfer processes. The escrow agent verifies Trade Registry filings and ensures all contractual conditions — including non-compete and warranty clauses — are satisfied before release.
Company Formation →Escrow Agreement Drafting
Preparation of the tripartite escrow agreement defining the conditions for fund release, timelines, dispute resolution mechanisms, and the obligations of each party. The agreement is the backbone of any escrow arrangement.
Escrow Agreements →Due Diligence on Assets
Before accepting escrow instructions, the attorney conducts background checks on the underlying asset — title deed verification, encumbrance search, company registry check, or vessel lien search — to ensure the transaction is viable.
Due Diligence →Cross-Border Escrow
Coordination of escrow arrangements involving international parties, foreign currency transfers, and multi-jurisdictional documentation. The TEN-Law European Network enables coordination with counsel in other countries when needed.
Cross-Border →How Does Escrow Work?
The escrow process follows a defined sequence. Once the parties agree on the transaction terms, the escrow agent steps in to manage the payment and ensure both sides are protected throughout.
Escrow Questionnaire →The escrow agent drafts a tripartite agreement between the buyer, seller, and escrow agent. The agreement defines the conditions for fund release, timelines, and what happens if the conditions are not met.
TCO Art. 26The buyer transfers the agreed amount to the escrow agent's designated client account via bank transfer. The escrow agent confirms receipt and notifies both parties that the funds are secured.
Attorney Client Account · VakıfbankThe escrow agent monitors and verifies that the contractual conditions are fulfilled — for example, title deed transfer, share registration, vessel delivery, or any other agreed milestone.
Verification by Escrow AgentOnce all conditions are met, the escrow agent releases the funds to the seller. If the seller fails to fulfill the conditions within the agreed timeframe, the funds are returned to the buyer in full.
Release or Return
Baris Erkan Celebi
Attorney at Law · Antalya Bar No. 6134Baris Erkan Celebi has been providing escrow services in Turkey since 2016 — well before escrow became a widely discussed concept in Turkey's foreign investment market. The practice exclusively represents foreign nationals and international companies. All communications are conducted in English at a professional level.
Escrow services cover real estate acquisitions, yacht and vessel purchases, aircraft transactions, company share transfers, and commodity purchases. The standard escrow fee is 1% of the transaction value for fully traceable bank-to-bank transactions. All funds are held in a designated attorney client account at Vakıfbank, legally protected under Turkish Enforcement and Bankruptcy Law.
Governments from the United States, the United Kingdom, Germany, Canada, Norway, and Belgium frequently refer their citizens when legal representation is required in Turkey. The practice maintains membership in the TEN-Law European Network, enabling coordination with counsel in other jurisdictions for cross-border escrow arrangements.
- 2011American Robert College — Merit Scholarship Graduate
- 2014Jagiellonian University, Faculty of Law — Exchange Program
- 2015Istanbul University, Faculty of Law — LL.B.
- 2016Antalya Bar Association — Admitted, License No. 6134
- 2016Began providing escrow services for foreign investors
- 2019Founded Celebi Legal — Internationally Oriented Practice
- 2020Bahçeşehir University — Master's Thesis Completed
Frequently Asked Questions
What is an escrow?
An escrow is a neutral third party that holds money or assets during a transaction and releases them only after the agreed conditions are fulfilled. The purpose is to protect both the buyer and the seller — the buyer knows their money will not be released prematurely, and the seller knows the payment is already secured.
Are escrow agreements legal in Turkey?
Yes. Escrow agreements can legally be made under Article 26 of the Turkish Code of Obligations. As long as payments are made through banks and supported by proper documentation such as invoices or official sale agreements, escrow arrangements are fully lawful in Turkey.
Are escrow accounts legal in Turkey?
Yes. Attorneys in Turkey maintain designated client accounts where they hold funds belonging to clients. Under the Turkish Enforcement and Bankruptcy Law and Turkish Attorney Law, funds held by attorneys on behalf of clients are protected and cannot be seized or blocked by third parties.
How much does an escrow cost in Turkey?
Escrow fees generally range between 1% and 3% of the transaction amount. Baris Erkan Celebi offers escrow services for 1% of the transaction value for fully traceable bank-to-bank transactions. The fee can be shared between the buyer and the seller.
When should you hire an escrow?
Escrow is commonly needed when large sums of money are involved and the parties do not fully trust each other yet — real estate purchases, company share acquisitions, yacht sales, aircraft purchases, and other high-value international transactions. See: When to Use Escrow in Turkey →
What happens if an escrow agent violates the agreement?
If an attorney acting as escrow violates the agreement, the aggrieved party can file a criminal complaint for breach of trust under Turkish Penal Code Article 155 and pursue civil damages. The attorney also faces disciplinary proceedings before the Bar Association, which can result in suspension or disbarment.
Can the escrow fee be shared between buyer and seller?
Yes. The escrow fee can be shared between the buyer and the seller if the parties agree on this arrangement in the escrow agreement. This is standard practice in many transactions.
