Report: Suad Saeed
Establishing a company or starting a business for foreigners in Turkey requires following certain steps according to local laws. Here are the basic steps:
Choosing the type of company:
There are different types of companies in Turkey, such as:
Limited Liability Company (LLC): This is the most common among foreign investors.
Joint Stock Company.
Partnership Company.
The type of company must be chosen based on the size of the investment and the number of partners.
Preparing the necessary documents:
Passport (translated into Turkish and certified by a notary public).
Proof of address in Turkey (such as a lease contract or a real estate purchase contract).
Obtaining the foreigner’s tax number from the tax department.
The company’s articles of association.
Capital:
The minimum capital required to establish a limited liability company is 10,000 Turkish liras.
25% of the declared capital must be deposited in the bank before registering the company.
Commercial Registration:
After preparing the documents, they must be submitted to the local Chamber of Commerce to register the company.
After registration, a commercial registration certificate is issued.
Opening a bank account:
After registering the company, a bank account can be opened in the name of the company.
The remaining capital (75%) is deposited in the bank account.
Tax registration and social insurance:
After registering the company, it must be registered with the Tax Department to obtain a tax number specific to the company.
The company must also be registered in the social insurance system to provide insurance for employees.
Permits and licenses:
Some commercial activities may require additional permits or licenses, such as restaurants or health-related companies.
It is important to ensure that all required permits are obtained before starting the activity.
Accounting and financial management:
Appointing a certified public accountant to manage monthly accounts and tax reports.
Submitting financial and tax reports periodically is an important part of managing the company.
Residence and Work Permit:
If you want to manage the company yourself as a foreigner, you may need a residence permit and a work permit.
There are some exceptions for foreigners who own a certain percentage of the company’s capital.
Establishing a company in Turkey is a process that requires compliance with local laws and accurate submission of the required documents.
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