Establishing a Company in Türkiye

Türkiye has a unique trading position in Asia, Europe and the Middle East. For this reason, it is a country that has managed to attract international investments for many years. Many public and international companies prefer to establish their operations in the central cities of our country in this direction.

The Turkish Foreign Direct Investor Law was founded on the idea of fair opportunities that allow international investors to enjoy the same rights and obligations as domestic investors. The same rules apply to foreigners who establish a company or business and transfer shares, just as it applies to domestic investors. International investors can establish any of the companies listed in the TCC that meets international standards, supports private equity and public offering processes, creates a corporate governance framework that ensures the transparency of operations and ensures the compliance of the business environment in our country with European regulations.

Turkey applies measures that make it easier to do business in order to eliminate bureaucracy and reduce costs and processes in establishing a company, and accordingly, to improve the investment environment. After all, establishing a company in Turkey is done only through the Trade Registry Offices, which are located in the Chambers of Commerce and should be a trade center.

How to Establish a Company in Türkiye?

According to the TCC, companies can be formed in two ways, corporate and non-institutional. Corporate forms are joint stock company and limited liability company. The registration procedure usually takes no more than a week after the company form has been determined. The foreign investor must have a certain amount of capital before establishing a company in Turkey.

Establishing a Joint Stock Company in Turkey

Foreigners who want to establish a joint stock company in Turkey or establish a limited liability company in Turkey must complete some procedures and preliminary preparations for the establishment of a company before making an official application to establish a company. In this context, it is necessary to determine the type of company to be established, to prepare an articles of association according to the content of the activities to be carried out within the scope of the company, and to meet the physical requirements of the company. In this preparation process, getting support from the professionals of the subject plays an important role in the smooth progress of the processes.

Joint stock companies can be established to operate in all kinds of economic purposes and issues that are not prohibited by law. As stated in the TCC, joint stock companies established with the permission of the Ministry of Customs and Trade are registered in the trade registry within 30 days following the establishment of the company. With its publication in the Trade Registry Gazette, the establishment phase of the company is completed. With the registration of the trade registry, the company acquires legal personality.

The information and documents required for establishing a joint stock company are prepared.
The company's articles of association are prepared.
The prepared articles of association are registered in the MERSIS system and the registration number is obtained. The registration number is sent to the notary public with the MERSIS registration number. The articles of association are signed and approved by the partners. At the notary, a registration request is prepared to be forwarded to the Trade Registry Office of the person authorized to represent the company. In addition, a notarized copy of the identity card is prepared to transmit to the tax office during the notification of employment.
A potential tax number is obtained after registration in the MERSIS system. The potential tax number received becomes the company's tax number after the company incorporation is completed.
A company account is opened from the bank together with the potential tax number and documents obtained from the notary public, and at least 25% of the capital is deposited into the account and blocked. A document regarding the blockage is received from the bank. After the establishment of the company, the block can be removed and the company official can withdraw this amount in cash.
Necessary documents are submitted to the trade registry and tax office.
If a company that will operate in the field of industry has been established, it must be registered with the Turkish Chamber of Commerce and Industry.
Municipal procedures are completed.
After these processes are completed, the company can start its commercial activities.

Establishing a Limited Company in Turkey

A limited liability company can be established for any economic purpose and subject that is not prohibited by law. A limited company with a minimum capital of 10,000 TL can be established with at least one and at most fifty partners.

Information and documents required to establish a limited company are prepared.
The company's articles of association are prepared and signed by all partners. It is required that the signatures be notarized or signed directly in the presence of the registry office.
The potential tax number is obtained by entering the prepared company's articles of association into the MERSIS system. The potential tax number received becomes the limited company's valid tax identification number after company establishment.
For registration, an application is made to the trade registry where the company headquarters is located and the application must be signed by all limited company directors.
The entire company contract is registered in the trade registry where the company's headquarters is located within 30 days following the signature of the founders' signatures in the presence of authorized personnel at the trade registry directorate, and it is announced in the Turkish Trade Registry Gazette.
The company is officially established by gaining legal personality upon registration in the trade registry.
After the registration of the company, it is necessary to submit the necessary documents and apply to the tax office.
In cases where the established company is an industrialist, it is registered with the Turkish Chamber of Commerce and Industry with the necessary documents.
Necessary documents are prepared and municipal procedures are completed.
After these processes are completed, the company can start its commercial activities.

Advantages of Foreigners Establishing a Company in Turkey

There are limitations on the nationalization or nationalization of foreign direct investments.
Foreign investors can freely transfer the profits and some external income they have obtained in Turkey out of the country.
There is an ease of work permit in terms of employment of foreign personnel.
It has the right to open a liaison office and branch.
There are also some tax advantages.

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