Are you looking to expand your business and establish a presence in Turkey? The process of registering and setting up a company can be daunting. But don’t worry, we have you covered! In this blog post, we will look at the different steps needed to set up a company in Turkey, including the necessary paperwork, registration fees, and more.
Overview of Establishing a Company in Turkey
If you are looking to establish a company in Turkey, there are a few steps that you will need to follow. Firstly, you will need to obtain a tax identification number. This number must be obtained for non-Turkish individuals and/or legal entities that will act as shareholders of the company.
Next, you will need to submit a completed and signed visa application form with the required documents. These documents include a valid passport, a copy of your appointment letter, your DS-160 confirmation page, and proof of financial support. Additionally, you must attend an in-person interview at the Embassy on the date and time indicated in your appointment letter. Finally, all immigrant visa applicants, regardless of age, must undergo a medical examination prior to receiving their visa. Your medical examination must be conducted by a physician accredited by the Embassy in Egypt. For those who are not citizens of the Embassy but wish to visit, a Tourist Visa is required.
Once you have completed these steps, you will need to wait for your visa application to be processed. Depending on the category of visa for which you are applying, this process can take anywhere from several weeks to several months. Once your visa application has been processed,
you will need to bring a printed copy of your appointment letter, your DS-160 confirmation page, one passport photo size 2×2 inches (55 mm x 50 mm), proof of financial support (if applicable), and your original passport of each partner. You will also need to bring your legal entity’s tax identification number if it is not Turkish and/or the company’s articles of association if it is Turkish. Finally, you will need to bring your original business license if applicable.
Once you have completed these steps, you are ready to start your business in Turkey! By following these steps and meeting all the requirements, Turkish citizens can establish a company in Turkey.
Choosing Your Business Structure
When choosing a business structure in Turkey, there are a few things to consider. First, what type of company do you want to set up? There are five different types of companies available in Turkey: joint stock company, limited company, limited
Information about starting and registering a business, including types and establishment process of a company in Türkiye.
Turkey welcomes foreign investments and entrepreneurs can choose from several types of Turkish companies which can serve their business needs. For opening a subsidiary in Turkey, you need a minimum capital share that is different in accordance with the type of company you choose to set up. Incorporating a Turkish company is also an option.
The most common forms of companies are JSCs and LLCs
To learn more about these options and to get started on the incorporation process, please contact our experts. They will be able to help you choose the best business structure for your venture and guide you through the registration process.
Preparing the Necessary Documents
In order to establish a company in Turkey, you will first need to prepare a memorandum and articles of association. The memorandum must contain all the details and names of the shareholders, while the articles of association must be signed by at least one competent signature. Once these documents have been prepared and signed, you can deposit them with the relevant trade registry office. The tax officer will then come to your company’s headquarters to prepare a status report. This report will include the company’s status and the signature of at least one competent person.
Business Form That Respects the Requirements of the Turkish Company Law
When establishing a business in Turkey, you have several options available to you. One option is to select a business form that respects the requirements of Turkish Company Law. This law sets out the rules governing the operation of businesses in Turkey and must be followed by all businesses operating in Turkey. Some of the requirements of Turkish Company Law include the formation of a company with a legal personality, the election of a board of directors, and the submission of annual reports.
All of these aspects of company formation can be handled by our Turkish lawyers. Furthermore, capital companies are the most common form of business entity in Turkey and are favored by both local and foreign investors.
Investors may choose to participate in these companies through shares or capital injections. It is important to note that the Turkish government has set the company registration process rather easy. You can choose between several types of business entities which respect the requirements of Turkish law. If you have any questions or would like more information on establishing a business in Turkey, please do not hesitate to contact us.
Understanding the Minimum Share Capital Requirement
When establishing a company in Turkey, it is important to understand the minimum share capital requirement. In Turkey, a company must have a minimum share capital of 50,000 Turkish Lira (or 100,000 Turkish Lira for companies under the “authorized capital” regime).
This amount is payable in two years and must be invested in fixed capital. Additionally, foreign investors who want to open a large business in Turkey choose to register a joint stock company, where the minimum share capital is requiring a permanent legal presence in Turkey to incorporate either a joint stock company (JSC)
There are a number of ways to raise capital for a Turkish company. One way is to make a fixed capital investment of at least $500,000. Another option is to receive private or public financing. Finally, you can also issue shares. All of these options have their pros and cons, and it is important to discuss them with an attorney before making a decision.
Completing the Company Establishment Procedure
In order to establish a company in Turkey, the company must have a headquarters in the country.
The company establishment procedures, if necessary documents submitted to the related trade registry offices, can be completed within one hour.
You must first translate the partners’ passports to register the company.
Partners’ passport translation and notarization costs 4875 Turkish Lira (approximately $150), and are intended to encourage foreign investments, protect the rights of foreign investors and replace the screening and approval process with a more streamlined process.
Getting a Company Management Permit for Foreigners
If you are planning to establish a business in Turkey, the first step is to choose an acceptable trade name. The name should be unique and not offensive and must be registered with the Trade Registry. After you have chosen a name, you will need to obtain a company management permit. This permit is required for any foreigner who wishes to manage a company in Turkey. To obtain the permit, you must provide proof of financial stability, ownership of business property in Turkey, and a notarized copy of your passport. Additionally, you must have at least two copies of your passport (one copy must be translated and notarized) and your residence permit if living in Turkey. If following the process will be done through a proxy, a notarized power of attorney authorizing the attorneys who will follow up on the application must be provided. After you have met all requirements, registering your company with the Trade Registry is the final step.
Fulfilling the Capital Requirements
In order to establish a company in Turkey, you will first need to meet the capital requirements set by law. The minimum amount of capital required depends on the type of company you are establishing but as a general rule,
the minimum capital requirement is TRY 50,000 (approximately USD11,700). This amount must be deposited by the foreign investor in a Turkish bank before starting the company. In addition, you will need to have at least 1 partner registered with the authorities and 1 registered with the Istanbul Chamber of Commerce. Furthermore, the company must have a registered address and be in good standing with the tax authorities. Finally, you must also satisfy other requirements such as having a business plan and having sufficient financial resources to operate your business. With these steps completed, you can start your business in Turkey!
Submitting the Necessary Documents
When setting up a company in Turkey, you must submit a memorandum and articles of association to the Trade Registry Offices. The articles of association must contain all the details and names of the shareholders. Additionally, you must also submit a copy of your passport, a copy of your appointment letter, your DS-160 confirmation page, and proof of financial support. Finally, you must attend an in-person interview at the Embassy on the date and time indicated in your appointment letter.
Completing the Process Within One Hour
If you are looking to establish a company in Turkey, the process is simplified and can be completed within one hour. You will need to provide a valid passport, a copy of your appointment letter, your DS-160 confirmation page, and proof of financial support. Additionally, you must attend an in-person interview at the relevant Trade Registry Directorate. All formalized processes and procedures are completed without any hidden fees and you can be assured that the company establishment procedures will be completed within one hour.