Company Registration In Turkey 2023
How to start a business in Turkey?
Establishing a Company in Turkey With the 2023 update. Türkiye is a state, that borders on Bulgaria, Georgia, Syria, Iran, Armenia, Greece, Iraq, Azerbaijan. Such territorial location makes the state very profitable and promising for foreign investors. If you want to register a company in Turkey, we will help you solve this problem.
Which Jobs In Turkey Require Company Registration?
According to the law In Turkey, you must register a company to start any business. Starting a cafe and restaurant, tailoring, hairdressing, etc. all require company registration.
Benefits Of Registering Companies In Turkey
- It has 21 Free Trade Zones;
- A quick and simplified company registration procedure;
- A comfortable taxation;
- The economic stability;
- Investment areas.
Company Registration Fees In Turkey
- Accountant’s fee (monthly official remuneration of the accountant 400 lira and above)
- The cost of renting office space (You can present your home as an office)
- Employee salaries and insurance costs and insurance of company members
- The cost of water, electricity, telephone and internet
- If the place of work is rent, 23% rent tax (stop)
- Expenses for official offices and its sealing in assets (approximately 1000 lira per year)
- Income tax (equivalent to 18% of the company’s net profit)
Registering a company in Turkey and 5 important and key points :
foreign company registration in turkey
The following are important points in the process of registering a company in Turkey.
- The establishment of a company in Turkey can be done with a passport and without a KIMLIK, and it is not necessary to obtain a KIMLIK residence in Turkey before registering the company in Turkey.
- In Turkey, there are three general types of company registration: personal company registration, limited liability company registration, and anonymous or cooperative company registration.
- It is not necessary to have an office in the process of registering a company in Turkey, you can also provide your home address as a home office to the registration office.
- You should have one or two common names such as consulting and trading…. Or a travel company… Introduction and Lee In the company’s charter you can enter general issues that are not related at all, such as medicine, clothing or construction, and so on.
- Under Turkish law, you must present to the government’s accountant for tax and administrative matters. The experience and knowledge of this accountant or his lack of experience and knowledge can be very important for the company.
Steps To Establishing A Business In Turkey
In Turkey, you must first refer to the tax office and get the tax code for the founder of the company. Then refer to the company registration office after confirmation (Noter) of the new articles of association and documents. For example, one of these documents is your office lease agreement and your address. After the documents are delivered, an inspector will be send to visit your office. After completing the documents and paying the fees, you will be given a registration code. You should also apply for a “Vergi levhasi” for your company (the picture below). And after that, the company will officially start the activity.
How to set up a business in Turkey?
- You must first translate the partners’ passports to register the company
- Choose a Turkish certified accountant for the company
- Set the company’s articles of association in Turkish
- Obtaining the tax number of the company’s shareholders from the Turkish Tax Administration
- Completing a special company registration form in Turkey
- Refer to the Turkish Chamber of Commerce and complete the relevant forms
- Set up the commitment form (Chamber of Commerce)
- Official registration of the CEO’s signature at the Civil Registry Office
- Formal approval of the articles of association at the Civil Registry Office
- Open a personal account to deposit the initial capital ( Never deposit in another account )
- You must have a quarter of the company’s capital in your account
- Print the official newspaper of the company
- Prepare the lease and announce it to the tax office to send an inspector
- Obtaining the company tax number from the relevant office “Vergi levhasi”
- Obtaining a company registration card or a company business card
- Licensing of accounting offices and their opening
- Company documents must be registered in the central registry system (Mersis) and some of the above documents must be sent to the business registry office.
How Many Days Needed to Register a Company in Turkey?
We can form your company and open bank accounts and get online banking in 1-3 days if partners are in Turkey and the company formation process will be faster and cost less.
We can form your company remotely if you are not in Turkey, however, the setup process will be longer and cost more.
Open Bank Account In Turkey For Your Company
We open bank accounts for companies established in Turkey. Nowadays, there is a huge demand for bank account opening by foreign companies in Turkey. We assist you in opening company bank accounts.
We need the below documents for the company bank account:
- Company articles of incorporation.
- Shareholders’ and directors’ passport copies and their addresses prove documents such as a utility bill.
- Turkish tax id number for each shareholder (we will get it).
- Signature circular for the company.
- Company stamp.