Foreign investors can now establish and open a company in Turkey, according to the foreign investment law, based on the principle of equal treatment allowing international investors to have the same rights and responsibilities as local investors.
The conditions for establishing a company in Turkey, setting up a business and transferring shares are the same as for local investors.
International investors may establish any form of company stipulated in the Turkish Commercial Code (TCC) that meets the international standards.
It creates transparency in managing operations, and aligns the Turkish business environment with EU legislation and accession process to the EU.
Turkey has introduced many reforms for everyone who wants to establish and open a company in Turkey and facilitate doing business in order to improve the investment environment.
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How to Establish and Open a Company in Turkey?
There are some legal conditions before establishing a company and starting commercial activities, as the following:
- Choosing the type of the company you want to establish and obtain a certificate of authentication.
- Opening a corporate bank account and depositing the capital specified by law.
- Selecting the company’s managers in accordance with the legislation.
- Submitting the required documents about the managers to the Commercial Registry Office.
- Obtaining the tax number and the value added tax as well as registering with the tax office for social security reasons.
How to Register a Company in Turkey for Foreigners?
You can establish and open a company in Turkey as a foreigner, by two or more non-Turks.
And you should take the advice about establishing any business or company in Turkey, as there are many options that you can get advice from.
The first option is contacting a lawyer, and you have to choose the right person to provide you with the appropriate legal opinion.
So, he must be familiar with the laws of companies in Turkey and have experience in dealing with such issues.
In addition, you can take the advice by reviewing the Turkish embassy or you can contact us and book a free legal and investment consultation.
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Establishing a Company with an Agent in Turkey
Opening a company in Turkey for foreigners is a hard process, and there are a large number of corporate agents in Turkey, but many foreigners do not prefer to select the agent this way.
It is better to save time if you know a good agent, and if you choose to rely on one of them, you must know the services and companies that they helped to establish them.
Registration of The Company with The Commercial Registry
The Turkish Commerce has offices all over the world within major cities. Filling out the necessary papers must be within a period not exceeding 15 days at the Commercial Registry.
You have to submit the company registration application form with a written request to obtain the registration in addition to submitting proof that you are a member of the company.
And in accordance with Article 29 of the Commercial Registry Regulations, it is necessary to submit the payment receipt for the commercial registry and the value is usually 1/1000 of the company’s capital.
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The Required Documents to Establish and Open a Company in Turkey
One of the most important steps for establishing a company in Turkey is preparing the required documents to register the company in the commercial registry office.
The main document that must be prepared is the “Company Agreement”, which contains all the details of the managers and shareholders.
In this agreement, there should be some essential information, including the names of the partners, their places of residence, their contributions to the company’s capital, and the number of shares.
And in the same document, the company’s name and address and a description of the purpose of the business must be clearly stated.
In addition to the case of amendments to the company and any ways of settling disputes in case of any problems between the shareholders.
It is very significant to prepare the contract in accordance with the resolutions of the Turkish Commercial Code. If you want to establish a foreign company in Turkey, lawyers in Turkey can help you prepare these documents correctly and accurately.
Foreign Company Establishment in Turkey
Foreign investors prefer to establish a company in Turkey in many fields:
- Real estate investment
- Technology development
- Industrial zones
- Free zones
Finally, you should note that some other incentives interest foreign investors are the double taxation agreements and the free trade agreements, and trade between some countries and Turkey is allowed without taxes.
Frequently Asked Questions about How to Establish and Open a Company in Turkey
Can a foreigner open a company in Turkey?
Yes, foreigners are allowed to open a company in Turkey.
How much does it cost to register a company in Turkey?
The costs for registering a company business in Turkey range from 1500 to 2000 USD.
Is Turkey good for starting a business?
Turkey is one of the world's fastest expanding economies, with advantageous location and significant business opportunities.
Which business is most profitable in Turkey?
Real estate business is considered the most profitable investment in Turkey.
How much money do I need to open a restaurant in Turkey?
The minimum capital to open a restaurant in Turkey is 10,000 TL.
Can a foreigner open a cafe in Turkey?
Yes, foreigners are allowed to open any type of business in Turkey, but you will need to get a permit before setting up a cafe.
How long does it take to register a business in Turkey?
It will take about 3 weeks to register a business in Turkey.
How to establish a company in Turkey for foreigners?
There are some required steps to establish a company in Turkey for foreigners:
· Deciding the type of the contribution.
· Opening a corporate bank account.
· Selecting the company's managers in accordance with the legislation.
· Submitting the required documents to the Commercial Registry Office.
· Acquiring a tax number and the value added as well as registering with the tax office for social security reasons.
Can a foreigner set up a company in Turkey?
Yes, foreigners are allowed to set up a company or any type of business in Turkey.
How can a foreigner start a small business in Turkey?
Starting a small business in Turkey for foreigners requires some steps, including deciding the type of business, opening a bank account, submitting the required documents to the Commercial Registry Office, and acquiring a tax number.
Which city is the best for business in Turkey?
Istanbul is considered the best business city in Turkey. It has an excellent location and includes vital facilities, as well as an organized transportation system.
How can I open company in Turkey?
You can open a company in Turkey after deciding the type of the contribution, and then opening a bank account, submitting the required documents to the Commercial Registry Office, and acquiring a tax number.
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