Buying a Company in Turkey: Get Expert Guidance and Support

The process of buying a company in Turkey begins with conducting thorough due diligence to assess the target company’s financial health, legal compliance, and overall viability. This step is crucial for identifying any potential risks or liabilities associated with the acquisition. Once due diligence is complete and both parties agree on the terms, negotiations commence.

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This stage involves finalizing the purchase price, payment terms, and other essential aspects of the transaction. Subsequently, legal documentation, including a purchase agreement and other relevant contracts, is drafted to formalize the deal.

Finally, the transaction is closed, and the transfer of ownership is completed, marking the beginning of the buyer’s control over the acquired company. This process requires careful attention to detail and expert guidance to ensure a successful acquisition.

How to Buy a Company in Turkey?

We do provide buying company 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.

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 Company 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 Company 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 Company 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 Company in Turkey

From Real Persons;

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

Reach us for Buying a Company in Turkey

Navigating the complexities of buying a company in Turkey requires expert guidance and support. At Finlexia Accounting Firm, our team of experienced Turkish accountants is here to assist you every step of the way.

From conducting thorough due diligence to negotiating favorable terms and drafting legal documentation, we ensure that your acquisition process is smooth and successful. Contact us today to learn more about how we can help you achieve your business goals in Turkey.

You may reach our accountants and lawyers for buying a company in Turkey by visiting our Contact page.