Company Registration in Turkey: Expert Team

The process of company registration in Turkey is meticulous, involving several important steps to establish your business legally. Choosing the appropriate business structure, whether it’s a Joint-Stock Company (A.Ş.) or a Limited Liability Company (LTD), is the initial decision. Drafting and notarizing the articles of association is crucial as it defines your company’s operational framework.

Obtaining a potential tax identification number, depositing the required initial capital, and submitting all necessary documents to the Trade Registry Office for official registration are key steps.

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Since 2017, Finlexia Accounting Firm has been a leading accounting firm based in Istanbul, providing comprehensive services to clients seeking to establish their businesses in Turkey. One of the most crucial steps in setting up a business in Turkey is understanding the process of company registration.

What Is Company Registration in Turkey?

Company registration in Turkey is the official process of legally establishing a business entity. This process involves various administrative and legal steps to ensure the business operates in compliance with Turkish laws.

Registering a company in Turkey involves a meticulous process that begins with choosing the right business structure, such as a Limited Liability Company (LLC) or Joint Stock Company (JSC), tailored to your operational needs and strategic goals.

Our experienced Turkish accountants at Finlexia Accounting Firm provide comprehensive support throughout the entire registration journey, ensuring adherence to Turkish commercial laws and regulations.

From initial documentation preparation and company name reservation to finalizing statutory books and obtaining necessary licenses, we offer expert guidance at every stage. Our services extend to facilitating the opening of a Turkish bank account and obtaining a Tax Identification Number (TIN), essential for legal compliance.

By partnering with Finlexia Accounting Firm, you gain access to dedicated legal advisory services and meticulous attention to detail, ensuring a seamless and efficient company registration process in Turkey.

How to Register a Company in Turkey?

1. Choose the Type of Company: The first step is to decide on the type of company that best suits your business needs. The most common types are Joint-Stock Companies (A.Ş.) and Limited Liability Companies (LTD).
2. Prepare the Articles of Association: Draft the articles of association, which outline the company’s structure, objectives, and operational procedures. This document must be notarized.
3. Obtain the Potential Tax Identification Number: Apply for a potential tax identification number for your company from the local tax office.
4. Deposit the Initial Capital: Depending on the type of company, a certain amount of initial capital must be deposited into a bank account opened in the company’s name.
5. Register with the Trade Registry Office: Submit the notarized articles of association, bank deposit receipt, and other required documents to the Trade Registry Office. This step officially registers your company and includes it in the Turkish Trade Registry Gazette.
6. Obtain the Legal Books: Acquire the mandatory legal books (e.g., share ledger, board of directors’ resolution book) and have them certified by the Trade Registry Office.
7. Register with the Tax Office and Social Security Institution: Complete the registration process by registering your company with the tax office and the Social Security Institution to comply with tax and social security obligations.

Duties Related to Company Registration in Turkey

• Compliance with Legal Requirements: Ensure all legal requirements are met during the registration process, including submitting accurate and complete documentation.
• Maintaining Accurate Records: Keep detailed and accurate records of all company activities, financial transactions, and employee information. These records are crucial for tax and legal purposes.
• Regular Reporting: Submit regular reports to the relevant authorities, including annual financial statements and tax returns. Non-compliance with reporting requirements can result in penalties.
• Tax Obligations: Fulfill all tax obligations, including corporate tax, VAT, and other applicable taxes. Accurate tax reporting and timely payments are essential to avoid legal issues.
• Employee Registration: Register employees with the Social Security Institution and ensure all employment laws are followed, including providing mandatory insurance and benefits.
• Corporate Governance: Adhere to principles of corporate governance, ensuring transparency, accountability, and fairness in all business operations. This includes holding regular board meetings and maintaining clear communication with shareholders.

Company Registration in Turkey

Moreover, we have registered more than 260 companies for our foreign clients including Spain, UAE, Ukraine, Russia, UK, Morocco, Lebanon, Syria, S. Korea, Germany, Italy, Jordan, Vietnam, Poland, France, Pakistan, China, Hong Kong, USA, Malaysia, Iran, Portugal, Norway, Canada, Saudi Arabia, Iraq, and Kuwait.

How Many Days Needed for a Company Registration in Turkey?

We can register your company and open bank accounts and get online banking in 1-2 days if partners are in Turkey and the company formation process will be faster and cost less.

We can register your company remotely if you are not in Turkey, however, the setup process will be longer and cost more.

Steps of Company Registration in Turkey

According to the Turkish Commercial Code, a limited company (LLC) requires a minimum of one partner and it can be a legal entity or a real person, there can be a maximum of 50 shareholders. The partner/partners can be Turkish or foreign as well. Foreigners can own 100% of a company and transfer their profit out of Turkey without any problems.

The minimum required capital for a limited liability company is 50,000. -TL (Turkish lira). The capital of the company shall be paid in two years and up to four installments.

Company Registration Roadmap in Turkey

• Partners’ passport translation and notarization
• Obtaining tax ID numbers for the partners
• Getting Power of Attorney from the partners for company formation before the Notary Public
• Determining and reserving the company title
• Signing a lease contract for the company address
• Preparing online company establishment procedures
• Filing company details at the Istanbul Chamber of Commerce online
• Filing company Articles of Incorporation online and getting them approved
• Filing all the documents at the Istanbul Chamber of Commerce and paying official company registration fees
• Obtaining a company registration certificate from the Istanbul Chamber of Commerce
• Getting signature circular notarized at Notary Public
• Giving Power of Attorney to an accountant on behalf of the company
• Opening company bank account

We Need the Following Documents for Company Registration in Turkey

From Real Persons;

• 2 Translated and notarized passport copies
• 2 Passport photos
• Power of Attorney to us for incorporating the company from each shareholder

Bank Account Opening for Your Company

We open bank accounts for companies established in Turkey. Nowadays, there is a huge demand for bank account opening by foreign companies in Turkey. We assist you in opening company bank accounts.

We need the below documents for the company bank account:

• Company articles of incorporation.
• Shareholders’ and directors’ passport copies and their addresses proving documents such as an electricity invoice.
• Turkish tax ID number for each shareholder (we will get it).
• Signature circular for the company.
• Company stamp.

Our Services for Company Registration in Turkey

We regularly advise clients with respect to company formation in Turkey. Our services with respect to company formation include advising and drafting documents in connection with the formation of corporations, limited liability companies, and liaison offices.

Reach us for Company Registration in Turkey

Registering a company in Turkey is a structured process that requires attention to detail and compliance with legal requirements. Finlexia Accounting Firm is dedicated to assisting clients through each step of this process, ensuring a smooth and efficient company registration.

By understanding the steps involved and the responsibilities that come with it, businesses can successfully establish their presence in Turkey and thrive in a competitive market.

Contact us today to learn more about how we can help you with your company registration needs. You may reach us for your company registration in Turkey through our Contact page.