Form of government:Parliamentary-presidential republic
Area:783 562 км2
Currency:Turkish Lira (TRY)
Company registration in Turkey
Organizational and legal forms
The following forms are of interest for the foreigners planning to open a company in Turkey:
- Limited Liability Company/(LS). The most common and convenient form of business for foreigners to date
- Joint-Stock Company/(AS)
Registration is also possible for:
- Private Entrepreneurship (for persons with residence permit constantly living in the territory of Turkey not less than 5 years, while it is not allowed to stay outside the country for more than 6 months)
- Simple partnership and divided into shares
- Registered partnership
- Representative offices of foreign companies
- Branch of foreign companies
Requirements for the company
It is necessary for the title to contain a reference to the sphere of business activity of the company. It should also include the word “Limited”. Foreign words are allowed, if they do not contradict the legal norms. Cyrillic letter must not be used in the name. In order to register a LS company (LLC), the directors must personally visit Turkey and sign some documents. A foreign investor must prepare a Certificate of Activities in advance, which indicates the current status of the signature of the head of the enterprise. The certificate can be obtained by the investor in the country of residence.
List of documents required by foreign founders for LS registration:
For a foreign natural person:
- Translation of passport with notarization
- Individual tax number (issued in Turkey)
- Copies: residence permit, work permit with notary certification (if available)
- Statement indicating the individual number of the foreign citizen in Turkey, certified by the Registry office or the Turkish notary (for founders who already have the above number and have received a residence permit in Turkey for six months and more)
- Notarized signature sample
Stages of company establishment:
- Issuance of an individual taxpayer’s number
- Implementation of translation with notarization: signatures of founders, Articles of Association, protocol books, power of attorney, seal.
- The above documents must be with the Apostille or a stamp of the Turkish Consulate (in the state of issuance)
- Submission of the corresponding application for opening to the Registration Chamber, payment of the fee
- Application of the announcement on the opening of a legal entity in an official newspaper (only after this the company is considered fully registered)
- Transfer of fees to the Antimonopoly Committee
- Opening a bank account
- Establishment of the enterprise for registration in the local administration
- Payment of the amount of environmental tax
The company will require a registered office. The owner concludes a rental agreement or uses the capabilities of the virtual office.
The size of the authorized capital is 5,000 Turkish liras to register LS. Minimum capital of 50,000 Turkish liras is required to open an AS.
What is included in the price?
By paying your company registration in Turkey, you receive the following services:
- payment of state fees;
- provision of a legal address and agent in Turkey;
- preparation and registration of constituent documents of partnership;
- payment of notary fees and fees for obtaining apostille on company documents;
- payment for nominal services in one year:
- preparation of one general power of attorney;
- issuance of company certificates;
- declaration of trust, a letter of transfer of shares;
- seal production;
- delivery of documents and seal by the courier to Ukraine.