Steps to Buy a Business in Turkey

Finlexia is a globally recognized Turkish Accounting Firm with a long record of excellence and professional leadership in Istanbul, Turkey. Our company lawyers are ready to help you to buy a business in Turkey.

Our company lawyers are also experienced in liaison office formation, branch office formation, free trade zone company formation, joint stock company, limited liability company formation, holding company formation, and company management and governance.

How to a Buy Business in Turkey?

We do provide buying business services in Turkey and provide other company governance services for foreign persons and companies. We provide one-stop shopping for our clients who need to run their businesses successfully.

We have a customs agency in our office building and many of our clients use their services to perform transit trade to Russia and other countries. We also provide company address services for foreign companies and our rates are very moderate.

Buying an established business rather than setting up a new business has many advantages but is not without risk. You will need to know the advantages and disadvantages of buying an existing business and be clear about your ability to run a business.

Advantages of Buying a Business in Turkey

Buying a business is generally considered less risky than starting your own business in Turkey, especially if you can buy a well-managed, profitable business for the right price. Consider these advantages:

• The difficult start-up work has already been done. The business should have plans and procedures in place.
• Buying an established business means immediate cash flow.
• The business will have a financial history, which gives you an idea of what to expect and can make it easier to secure loans and attract investors.
• You will acquire existing customers, contacts, goodwill, suppliers, staff, plant, equipment, and stock.
• A market for your product or service is already established.
• Existing employees and managers will have the experience they can share.

Disadvantages of Buying a Business in Turkey

Keep in mind that not every business on the market is a good prospect. Many owners will be selling unprofitable or underperforming businesses. While this can be a chance to buy and develop a cheap business, it can also be a risky investment. Consider these disadvantages:

• The business might need major improvements to old plants and equipment.
• You often need to invest a large amount up front, and will also have to budget for professional fees for solicitors and accountants.
• The business may be poorly located or badly managed, with low staff morale.
• External factors, such as increasing competition or declining industry, can affect future growth.
• Underperforming businesses can require a lot of investment to make them profitable.
• The seller’s personality and established relationships may be major factors in the success of the business.

Roadmap to Buy a Business in Turkey

• Buyer’s passport translation and notarization
• Obtaining tax id numbers for the buyer
• Getting Power of Attorney from the buyer for transferring the business to the buyer’s name
• Determining whether to change the business name
• Getting signature circular notarized at Notary Public
• Giving Power of Attorney to an accountant on behalf of the business
• Giving Power of Attorney to a customs agent on behalf of the business
• Opening company bank account

We Need the Following Documents to Buy a Business in Turkey

From Real Persons;

• 1 Translated and notarized passport copies
• 1 Passport photos
• Power of Attorney to us for transferring the business to your name

Reach us to Buy a Business in Turkey

Since its foundation, Finlexia Turkish Accounting Firm has been the choice of numerous clients in Turkey. Thanks to its nationally recognized accountants and accounting services, our accounting firm is now one of the leading accounting firms in Istanbul, Turkey.

You may reach our accountants and lawyers to buy a business in Turkey by sending an email or through our Contact page.