Establishing a Company in Turkey

According to the legislation governing the establishment of companies by foreigners in Turkey, it ensures that foreign investors, companies or individuals can start a business and company. International investors can form all types of companies specified under the Turkish Commercial Code.
Foreigners can establish any kind of company that Turkish citizens can also do in Turkey. There are no restrictions regarding the type of company foreigners would like to start their business on. Bellow is the list of different types of companies that can be started by foreigners in Turkey:
Sole proprietorship; unlimited company, limited company, common company, cooperative company
Equity Companies; incorporated companies, limited company, limited partnership and share capitals It is necessary to determine which type of company would be the most suitable in accordance with the applicants’ needs. Before the official application procedures, preliminary preparations would be made regarding the establishment of the company.
Applicant foreigner is consulted and the preparations are made in accordance with the company’s articles of association. Reports are kept on the MERCIS and sent after the main contract is prepared. In this process, the documents are arranged and they are expected to be approved by the notary public.
The company initiation stages are as written below:
– The company would need to obtain a potential tax number and then a certain part of the fund would be deposited into the Competition Authority bank
account and would be documented.
– For registration procedures, an application is made to the Trade Registry Office.
– A company initiation statement is requested from the tax office.
– A Signature circular is prepared and finally, some documents related to the company are transferred to the e- TUYS system.
The companies are required to be paid a certain amount for the capital. The amount that needs to be paid for the capital is listed below:
– The minimum capital amount for a joint-stock company is 50.000 Turkish Liras.
– The minimum capital amount for limited companies is 10.000 Turkish Liras.
– There is no minimum capital amount for sole proprietorship companies.
At least 25% of the capital committed must be paid during the registration process, and the remaining part must be paid within 2 years of the registration of the company. A bank statement letter in relation to deposit of this amount is obtained and used within the scope of the company registration process. In the company initiative process for foreigners, there is also the stage of depositing money into the account of the Competition Authority in this way. A portion of 0.04% of the company’s total fund must be deposited into the Competition Authorities account by payment from the Trade Registry Offices cashier.

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