Starting a business in Turkey offers an exciting opportunity to tap into a thriving market uniquely positioned at the crossroads of Europe and Asia. With its strategic location and growing economy, Turkey has become a magnet for foreign investors seeking to establish a presence in a dynamic and competitive environment.
Navigating the company formation process can seem complex, but understanding the available business structures and legal requirements makes all the difference. From limited companies to branch offices and free zone entities, Turkey provides a range of options tailored to diverse business needs. With the right guidance, setting up a company here can be both straightforward and rewarding.
Whether you're an entrepreneur or an investor, Turkey's robust market and favorable investment climate make it an ideal destination. By focusing on the essentials and seeking expert assistance, you can confidently take the first steps toward building a successful venture in this vibrant country.
| What We Offer | Details |
|---|---|
| Company Registration | - We handle the documents’ preparation, the trade registry applications as well as accounting and tax registration. - We make sure that your business complies with the commercial and tax laws set by the Turkish Government. |
| Tax and Accounting Support | - We will walk you through the tax regulations of Turkey, of which you can benefit from tax breaks. - We handle accounting and compliance to effectively and efficiently make sure your operations are running. |
| Office and Logistic Setup | - We find the most suitable physical or virtual office solutions for your business. - We assist in the establishment of logistics networks and the connection to local suppliers. |
| Compliance and Governance | - We organize the business to meet regulations and demand standards. - We provide you with guidance through the licensing, permits, and certifications process. |
| Ongoing Support | - We will mentor you on marketing, sales, management, and strategy. - We handhold the business expansion and help to solve the global markets challenges. |
Company formation services in Turkey assist entrepreneurs and investors in navigating legal and procedural frameworks. These services streamline the process, ensuring compliance with regulations and removing potential obstacles.
Selecting the appropriate company structure is essential based on business goals. Common options include Limited Liability Company (LLC), Joint Stock Company (JSC), liaison office, branch office, free zone company, and holding company. For instance, LLCs suit small-to-medium enterprises, while JSCs cater to larger organizations with increased shareholder requirements.
With complete documentation, the formation process typically takes seven days. This includes preparing official books, obtaining a tax number, and registering with the Chamber of Commerce.
Registering a company begins with choosing a unique trade name that meets Turkish conventions. The Trade Registry Office approves the name, followed by reserving the trade title and listing the specific business activities.
Drafting accurate Articles of Association is key to defining company operations. These documents outline activities, organizational structure, share capital, and shareholder rights. Additional steps include translating and notarizing documents locally for official submissions.
Turkey offers several business structures, each suited to different entrepreneurial goals. Choosing the right company type ensures compliance with regulations and aligns with business objectives.
Limited Liability Companies (Ltd. Şti.) are popular among small and medium-sized enterprises due to their versatile structure and minimal formation requirements. They can have 1 to 50 shareholders, and liability is limited to the capital contributed. A minimum share capital of TRY 10,000 is required, and at least one shareholder must act as a managing director. Share transfers require notarization, adding a layer of formal oversight. LLCs can also be employed for holding entities, creating opportunities for tax optimization or quick market entry through pre-established shelf companies.
Joint Stock Companies (Anonim Şirket) generally cater to larger businesses or those planning to go public. They require at least one shareholder and a board of directors. The minimum capital is TRY 50,000, increasing to TRY 100,000 for nonpublic entities under the registered capital system. JSC shareholders have liability limited to their subscribed shares, making this structure attractive for risk mitigation and access to significant equity investments. Public listing and scalability are additional advantages of this model.
Branches and liaison offices provide simple alternatives for foreign businesses seeking representation without full incorporation in Turkey. Branches operate as extensions of their parent companies, enabling trade and contract execution. Liaison offices, on the other hand, cannot engage in commercial activities but support market research and promotional functions for the parent company. These options are ideal for businesses testing the Turkish market or requiring minimal operational presence.
Establishing a company in Turkey requires compliance with specific legal and regulatory measures. Understanding these requirements ensures a smooth registration process and avoids delays.
Establishing a company in Turkey involves a series of well-structured steps. From document preparation to final registration, every stage is crucial to ensure compliance with Turkish regulations.
Choosing a unique business name is the initial step, and it must meet Turkish naming standards and be approved by the Trade Registry Office. We prepare the Articles of Association (AoA) carefully, as it defines the company’s structure, activities, share capital, and shareholder rights. Key documents include notarized identity documents for all stakeholders, proof of address, and a certified AoA. We also secure tax ID numbers for shareholders and directors before proceeding.
Once the documents are ready, We register the business at the local Trade Registry Office. This process includes submitting the notarized AoA, identity records, tax numbers, and office address. A registration fee applies here. The procedure usually takes about seven days, factoring in obtaining the tax number, registering with the Chamber of Commerce, and ensuring compliance with the Turkish Commercial Code.
After the company’s registration, my focus shifts to fulfilling tax and social security obligations. Registering the business with the tax office ensures compliance with Turkish tax laws, where We provide the company’s documents and tax registration forms. For hiring employees, we register with the Social Security Institution (SSI) to comply with the Turkish Labor Law. We also open a corporate bank account to manage financial operations and deposit the initial share capital, which is essential for operational readiness.
Turkey's strategic location enhances market access across Europe, Asia, and the Middle East. Its position as a bridge between continents provides businesses with direct access to over 1.3 billion consumers in surrounding regions and facilitates international trade through its extensive transportation networks.
The country's growing economy creates diverse opportunities across multiple sectors. With a GDP exceeding $900 billion and one of the fastest-growing economies globally, Turkey supports businesses ranging from technology to manufacturing and renewable energy.
Government-backed investment incentives reduce operational costs. These include tax breaks, subsidies, and grants, particularly in industries prioritizing innovation, such as technology and industrial production. Economic Free Zones further encourage investment by offering customs duty exemptions and income tax advantages.
Turkey's young, educated workforce attracts businesses needing skilled professionals. As 60% of the population is under 35, companies gain access to a dynamic labor market capable of driving innovation and improving productivity.
Cost-effective operations benefit entrepreneurs. Turkey combines affordable office spaces, reduced operational expenses, and competitive labor costs to provide an excellent environment for scalable business ventures.
The simplified registration process makes Turkey an attractive destination for foreign investors. The streamlined, regulation-compliant procedures allow businesses to establish themselves efficiently, enabling quicker market entry and reduced administrative burdens.
Navigating company formation in Turkey presents unique challenges for foreign investors. However, understanding these obstacles and leveraging professional support can simplify the process.
Foreign investors often encounter economic and legal hurdles during company formation in Turkey.
Engaging professionals streamlines company formation processes and ensures compliance with Turkish regulations.
Professional assistance bridges the gap between foreign investors and Turkey's regulatory environment, facilitating a smoother entry.
Understanding Turkey's tax system is critical for optimizing business costs. The corporate income tax rate is 25%, while a dividend withholding tax of 15% applies, which could be reduced under double taxation agreements. The Value Added Tax (VAT) standard rate is 20%, with lower rates available for specific goods and services. Businesses in free trade zones may benefit from exemptions, depending on their sector and operations. Reviewing these tax obligations ensures compliance while identifying potential benefits.
A corporate bank account is essential for managing financial transactions. To open one, the company must submit registration documents, tax identification numbers, and proof of the registered office. The initial share capital must also be deposited. Many banks require at least one board member or company representative to be present during the process. Selecting a bank familiar with international business practices can simplify this step.
Foreign entrepreneurs planning to reside in Turkey need residency and work permits. The residency permit application begins with a valid visa and a rental agreement or property proof within Turkey. For work permits, the sponsoring entity, generally the newly formed company, must apply on behalf of the employee. Certain professions might require Turkish citizenship, which necessitates reviewing sector-specific regulations to meet eligibility conditions.
Navigating Turkey's legal and financial frameworks requires understanding crucial aspects beyond the initial registration. These factors significantly impact both operational efficiency and compliance.
Turkey presents a wealth of opportunities for entrepreneurs and investors looking to establish a business. Its strategic location, growing economy, and supportive business environment make it a prime destination for global ventures. Navigating the company formation process may seem complex, but with the right guidance and professional support, it becomes a manageable and rewarding endeavor.
By leveraging expert assistance, you can streamline the process, ensure compliance, and focus on building a successful business in one of the world’s most dynamic markets. Turkey's potential is undeniable, offering a solid foundation for long-term growth and success.
Yes, foreigners can set up a company in Turkey. However, all necessary documents, including passports, Articles of Association, and signature circulars, must be translated into Turkish, notarized, and, if required, apostilled. Professional assistance is recommended to ensure compliance with Turkish regulations.
There isn’t a specific minimum balance requirement for a Turkey business visa, but applicants must show sufficient financial proof to cover their stay and business-related expenses. It’s best to consult with Turkish consulates for precise requirements.
The company registration process in Turkey typically takes about seven business days after all documentation is prepared and submitted to the Trade Registry Office. This includes obtaining a tax number and registering with the Chamber of Commerce.
The cost of incorporating in Turkey varies but typically includes registration fees, notary costs, and other minor expenses. The minimum required capital is 10,000 TL for Limited Liability Companies (LLC), which can be paid over two years.
To form a company in Turkey, choose a unique trade name, prepare necessary documents (e.g., Articles of Association), and register with the Trade Registry Office. You must also open a corporate bank account, deposit the initial share capital, and ensure compliance with tax and social security regulations.
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