Company Formation in Turkey

THE STEPS OF COMPANY ESTABLISHMENT in TURKEY:

Turkey is a very important crossroads between Asia and Europe for all the foreign investors. We can establish the business of our clients in Turkey after they provide the requisities below:

1. The clients must provide some company names. The company name must include the type of activity, i.e. foreign trade or marketing, and the type of the company.
2. The necessary documents in the first step are as below:

- Passport copies of the individual shareholders and company directors
- If there is a legal entity shareholder, certificate of incorporation showing that the company is registered in the country of origin. (This document must be apostilled in the country of origin and sent us).

3. The articles of association and other documents will be prepared by our side. When all the set-up documents are ready, we will submit thm to the trade registration service.
4. After the company is registered, tax liability must be set up in the local tax office. In case of there will be personnel, a liability must be set up also in the social security institute.
5. A bank account will be set up upon the request of the client.

THE COMPANY TYPES WHICH WOULD BE ESTABLISHED

JOINT STOCK COMPANY

The minimum capital amount is 50.000 TL for establishing a joint stock company. The joint stock companies who accepted registered capital system, the minimum capital amount cannot be less than 100.000 TL.

For establishing a joint stock company, at least one individual person or legal entity shareholder is required.

LIMITED LIABILITY COMPANY

Limited liability company has a more flexible structure, and for this reason, it is preferable than the other company types.

The minimum capital amount is 10.000 TL and minimum shareholder number is one individual person or legal entity for establishing a limited liability company.

FOREIGN COMPANY TURKISH BRANCH

The companies who they have their head quarter in abroad can establish their branches in Turkey.

LIAISON OFFICE

A company who have the head quarter in abroad can open a liaison office in Turkey.

The liaison office cannot have any income and commercial activities. They can have only market research activities.

A permit must be obtained from Republic of Turkey, Ministry of Economy.

The permit will be granted for 3 years maximum. After 3 years, generally, the main company decides to establish a limited liability company or joint stock company by considering the result in last 3 years.

Liaison office have some advantages:

Having information and following up new business opportunities is possible by market research activities and feasibility studies before starting a business in the ew market. Besides, the employee salaries of liaison office have exemption of income tax.