How to establish a company in Turkey

The Turkish government has provided facilities and laws for those who wish to establish a company in Turkey, as the Turkish government is keen to attract commercial and economic activities by facilitating investor affairs, and providing many features and services that made investment in Turkey something that investors and businessmen from all parts of the world seek, including This includes Turkish citizenship laws for foreign investors.

Types of companies in Turkey

1- Joint Stock Companies

In this type of company, the company's capital is divided into shares distributed among the partners. The responsibility of the partners or shareholders is limited to the percentage of their shares in the company's subscribed capital as a shareholder / partner.
The number of founding partners must be at least five people or legal entities, with a capital of no less than 100,000 TL / about 20,000 USD, a quarter of which will be paid before the company is registered.
Joint-stock companies may carry out any commercial or industrial activity permitted by Turkish law, except for some activities that require special permission from the Ministry of Industry and Trade.

2- Joint companies

This type of company is established to operate a business, under a certain commercial name, and the responsibility of all shareholders (partners) is limited, without a minimum capital requirement. All shareholders must be real persons, and the law defines the rights and obligations of shareholders.

3. Companies with private / unlimited liability legislation

And licenses are often difficult for these companies in Turkey because of the different conditions and the different administrative authority in charge of issuing the license. These include banks, private financial institutions, insurance companies, financial leasing companies, debt collection companies, holding companies, foreign exchange companies, and companies dealing with warehousing.

4- Limited liability companies

This typical type of company is for SME owners and it consists of at least one shareholder and no more than fifty shareholders. If they are shareholders, the minimum capital must be 12.500 TL.
Limited liability companies are not permitted to operate in the areas of banking, insurance, and currency exchange, and are managed by two bodies: the directors and the board of directors. The shares of the company cannot be sold or offered for subscription and the partners who are guarantors of public debts and taxes imposed on the company.
The liability of the partners is limited by the proportion of their shares in the capital.
Most investors and SMEs prefer to create this type of company.
No more than one person or legal entity is required to establish a limited liability company in Turkey. This company can be managed by foreigners (with a work permit), and the ownership percentage in the company can be 100% for foreigners.
The establishment of a company does not take much time and effort, as a new company can be established within one week or less.

The documents required when establishing a company in Turkey

1- A copy of the passport translated into the Turkish language and certified by the "Notre", and that the validity of the passport exceeds 6 months, in addition to the presence of the entry stamp to Turkey.
2- The vergi numarası tax number document can be easily extracted from any tax center in Turkey.
3- Three personal photos.

Steps to open a company in Turkey

1. Preparing the articles of association for establishing the company in Turkey and certifying it from the noter.
2- Deposit 25% of the capital value in the bank. Therefore, it is always advisable that the capital be at least 100,000 TL or more, which facilitates obtaining a commercial residence for the owners and employees of the company, and other important benefits. The capital is deposited into the bank account of the company that is created. The company receives from the bank a paper deposit of the capital value, after which the company’s securities can be managed, obtain approval from the Turkish Chamber of Commerce, obtain a land registry, and any other actions.
3. Submit the original copy of the company's articles of association, in addition to two certified copies thereof, to the Commercial Registry Office within 15 days from the date of documentation.
4. Companies with limited liability must comply with Article 279 of the Turkish Trade Law.
The company’s address must be mentioned in the articles of association, and it should be noted that the company’s articles of association will be published in the Official Gazette.
After the company is established in the commercial registration office, the company must be registered with the local tax office, where the tax certificate is received, which must be clearly displayed and placed in the workplace, where the local tax employee visits the company or store office within a few days to verify The mentioned information is from the tax certificate.