How to Establish a Company in Turkey

Last updated 2 June 2020
How to Establish a Company in Turkey

What encourages you to establish your company in Turkey?

Turkey’s economy has grown remarkably in the last ten years, making Turkey an incubator for investors from many countries. Moreover, the economy is expected to make a quantum leap in the next few years, given that Turkey’s exports are increasing, making it an economic power in the world. What drives many investors to go to Turkey is the legal facilities provided by the Turkish government, which in turn encourages investors to implement their own projects in Turkey.

How do you establish your company in Turkey?

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Decide the type of the company and the type of investment

First you have to decide the type and size of the company you want to create. Is it a limited liability company? Unlimited liability company? Solidarity company? Or a joint stock company? You also have to specify the type of investment you wish to make. You may want to buy and sell real estate, or set up a public service company or a tourism service company. You can also work in the field of import and export, which can be a successful business knowing that Turkey’s economy situation has improved. Or you can choose to set up a manufacturing company, which can also be a good choice.

Determine the headquarters and the capital of the company

You will choose a headquarters for the company, which is the property in which you will conduct your activities. You will also decide the size of the capital budget, which cannot be less than ten thousand Turkish Lira.

The founding contract of the company

When setting up any company in Turkey, a legal accountant must be present to record all company bills and expenses. All the company’s activities will be recorded as well.

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Tax number and bank account

The founder of the company gets a tax number for the company so that the government can collect taxes, whether annually or semi-annually. After that, he opens a bank account for the company to deposit the capital.

What personal documents should you prepare to set up a company in Turkey?

  • A notarized and translated copy of the passport.
  • A tax number from the Ministry of Finance.
  • An approval to start the company.

What do you get when you invest in Turkey?

Turkey may grant you a work permit and provide you with social security benefits in case your company has incurred losses. It may also provide you and your family with health insurance. Turkey may also support your business by creating business fairs inside and outside Turkey through which you can promote your services and display its products.

اقراء المقالة باللغة اخرى : العربية

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