Foreigners are subject to the same conditions applied to domestic investors regarding the establishment of a business and the transfer of shares. Foreign investors may establish a company in any form provided for in Turkish Commercial Law, which provides a systematic approach to corporate governance that meets international standards and enhances private ownership and underwriting activities. This Law provides a framework for transparency in business administration and puts the Turkish business environment in line with EU legislation to facilitate the process of accession to the EU.

Before starting the establishment of the company the investor must choose the type appropriate type of business. Types of business establishments in Turkey are different according to their size as follows:

Sole Proprietorship:

  1. This type can only operate inside Turkey; the owners of this type of companies are not allowed to import or export.
  2. It does not enjoy some advantages like membership in the Turkish Chamber of Commerce. (Chamber of Commerce membership can still be obtained with additional procedures).
  3. There is no minimum capital amount for the company and no deposit is required in the bank.
  4. It is not allowed to have multiple partners, only the owner of the company, and the name of the company shall be the same as the name of the owner.
Required documents:
  1. A tax number for the company owner to be extracted from the tax department.
  2. Two personal photos.
  3. Translation of the passport at a juridical translation office ratified by the notary public (the holders of Syrian nationality can replace the passport with the temporary protection card “Kimlik”).

Limited liability company:

One of the most famous company types in Turkey, where most Arab investors resort to because it meets both their residence and investment needs.

  1. It allows them to work inside and outside Turkey. The owners of this company can import to and export from Turkey.
  2. Once the company is established, it has membership in the Turkish Chamber of Commerce and owns a commercial newspaper for the company.
  3. The establishment of the company requires the presence at least 100 thousand Turkish liras per partner (the amount increases as the number of partners).
Required documents:
  1. A tax number for the company owner to be extracted from the tax department.
  2. Two personal photos.
  3. Translation of the passport at a juridical translation office ratified by the notary public.

Establishment stages:

  1. The first stage of incorporation begins at the Notary Public office where an agency is given to establish the company.
  2. The Company shall be provided with a commercial name that meets related regulations. Additional details about the company are also registered at this stage such as the company’s address, the amount of capital of the company, the number of partners and the share of each partner in addition to the company’s specialties.
  3. After that, the main contract of the company will be processed in the Turkish language containing the company’s information provided by the partners.
  4. After taking the approval of the company contract, an appointment is taken from the Chamber of Commerce to ratify the contract and issue a commercial register and get the official company number. At this stage, the incorporation process is completed and the company has a tax number and a special commercial registration number in the country.
  5. After that, a signature authorization certificate is issued at the Notary Public’s office. The director who was appointed at the time of writing the contract then makes the authoritative signature and gives an agency to the legal accounting office to complete the procedures of opening the company and following up the company’s legal affairs with concerned government departments. This is the last stage for establishing a Limited liability company in Turkey.

What does Sema Turk provide?

  1. Temporary address: This address helps you accelerate the process of establishment.
  2. Preparing and organizing the company’s accounting books.
  3. Providing financial and administration consultations for one year free of charge in all the necessary commercial procedures.
  4. Juridical translation of all details of the establishment of the company by our team of certified translators who will accompany you at every step.
  5. A legal accountant who stands by you to protect the investor or the owner of the company from legal violations and taxes. This accountant is accredited by the Turkish state, and he works on managing your accounts and monitoring the tax office. He provides periodic data for the taxation department and chamber of commerce. Having a legal accountant accredited by the government is a legal requirement for each company by the Turkish law.
  6. Issuing the merchant card: This card is to identify you as merchant and employer in Turkey.
  7. Name of your website Obtaining the domain .tr requires the presence of a Turkish company with the same name, so you may only register the name through the presence of an official company and we will do our job through a software company we deal with to register the your name and also host your site on our servers “Additional Service”.
    Note: Web site / mobile applications can be designed and programmed for your company at an additional cost to be agreed upon after agreeing with the software company on your accurate requirements.
  8. Get you an IT professionals to help you build the technical infrastructure of the company.
  9. Registration of the company Google web site as a Turkish company and registration of its address in Google Maps so that it is easy for customers to reach you.
  10. We will register your trademark and protect it “if required”.Help you find the right place to work based on your budget, which is suitable for the size, location and nature of the work.
  11. Help you find the right place to work based on your budget, which is suitable for the size, location and nature of the work.
  12. Help you apply for the landline, Internet and mobile phone lines for companies in Turkey.

Frequently Asked Questions:

– What is the minimum capital of the company?

The minimum capital is 10 thousand Turkish lira, but this type of capital does not give you any powers because Turkish law treats the company by capital, so we recommend that the minimum capital is 100 thousand Turkish liras.

– Can I establish a company without a Turkish partner?

Yes. Turkish partner is NOT required to own a company in Turkey.

– How many activities can I work with?

The number of business activities is unlimited for limited liability company. For a personal company, the number of activities is limited by one activity.

– Is it possible to change the activities of the company or its trade name?

Yes, you can change the activities of your company or even the trade name if all partners give their consent.

– Can I change the name of my company?

Yes, you can change the name of the company. This requires the consent of all partners.

– Can I remove, add or change a partner in the company?

Yes, and also you can change the quotas for the founders or owners of the company.

– Can I remove, add or change a manager in the company? Who is entitled to this?

Yes you can add or change the manager, and you are entitled to do so in the event of the consent of the partners.

– What is the benefit of the temporary address? What services do you offer?

The Virtual Office gives you the opportunity to find a suitable business location for your business. It can be used as your company’s primary address where you can receive mail and official papers. You can use the office monthly for two hours to make meetings.

– Can I transfer the company address from the virtual office to any other address? Is this legal?

Yes you can transfer the company’s address to the place you want within Turkish territory at any time.

– Can I deposit capital in the bank in a currency other than the Turkish currency?

You cannot deposit capital in a currency other than the Turkish currency, however, you can open more than one account in different currencies within the account.

– For the legal accountant what is his monthly salary? Can I appoint a secondary accountant from my side?

The fee of the accountant is approximately TRY 450 per month if the company has a limited liability.
In the case of a personal company, the fees of the accountant are 250 pounds per month. The fees of the accountant vary from one accountant to another according to efficiency. These prices may change at any time.

– Is it possible to establish a company for a person outside of Turkey?

It is possible to establish the company through an agency to be carried out by the person at the Turkish consulate in the country where the person resides. However, it requires at least one partner within Turkey to be appointed as a manager by the partners in order to complete the procedures and obtain the approval of the company.

– What taxes does my company have?

  1. Monthly statement tax of 40 TL.
  2. A monthly income tax which is approximately 100 Turkish Lira (this value decreases or increases according to the company’s activity, income and expenditure, and invoices).
  3. A monthly rent tax of 25% of the value of the lease.
  4. Monthly legal accounting fees amounting to 450 Turkish liras.
  5. Annual books, which are certified and approved by the State Departments and worth 1,100 Turkish liras paid each year.
  6. Chamber of Commerce tax payable every 6 months and worth about 350 Turkish liras.
  7. An annual tax payable every one year of approximately 500 Turkish liras (this value is reduced or increased according to the company’s activity).
  8. Monthly social insurance in the event of obtaining a work visa, amounting to approximately TRY 700 per partner, and TL 600 for employees or workers.
  9. Office fees allowances for the owners of non-resident companies that do not have an address in Turkey, Sama Turk Company helps them to secure a commercial headquarters for a monthly fee of about 400 Turkish liras.

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