How to Obtain a Shelf Company in Turkey?

A shelf company in Turkey provides a unique opportunity for entrepreneurs seeking to expedite the process of establishing a business presence. These pre-registered entities offer several advantages, including immediate availability for operations and enhanced credibility with potential partners and clients.

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To acquire a shelf company, interested parties must undergo a thorough due diligence process to ensure the company’s legal standing and financial health. Once the acquisition is complete, the new owner assumes responsibility for all aspects of the company’s operations, including compliance with Turkish laws and regulations, corporate governance, and financial management.

It is crucial to work with experienced legal and financial professionals throughout the acquisition process to mitigate risks and ensure a smooth transition. By leveraging the benefits of a shelf company while managing its responsibilities effectively, businesses can position themselves for success in the dynamic Turkish market.

Shelf Company in Turkey: What is it & How is it Done

In the dynamic business environment of Turkey, setting up a company swiftly and efficiently can be crucial. One option that offers this advantage is a “shelf company.” But what exactly is a shelf company, how is it established, and what responsibilities does it entail?

What is a Shelf Company?

A shelf company, also known as a ready-made company or an aged company, is a pre-registered entity that has been legally formed but has remained inactive, “on the shelf,” without conducting any business activities.

These companies are incorporated for the purpose of being sold to individuals or businesses looking to start their operations promptly, without going through the lengthy process of company registration.

How is a Shelf Company Established in Turkey?

The process of acquiring a shelf company in Turkey is straightforward. Once a suitable shelf company is identified, the transfer of ownership is facilitated through a share transfer agreement. This agreement transfers all rights and responsibilities of the company, including assets, liabilities, and legal standing, from the seller to the buyer.

Responsibilities of a Shelf Company

While acquiring a shelf company offers the advantage of immediate operational capability, it also comes with certain responsibilities. These include:

1. Compliance: Upon acquisition, the new owner is responsible for ensuring that the shelf company complies with all relevant Turkish corporate tax laws and regulations. This includes filing annual financial statements, maintaining proper accounting records, and adhering to tax obligations.
2. Corporate Governance: The new owner must also ensure that the shelf company adheres to sound corporate governance practices. This includes holding regular board meetings, keeping accurate records of decisions, and maintaining transparency in its operations.
3. Financial Management: Proper financial management is essential for the success of any company. The new owner of a shelf company must ensure that the company’s finances are managed prudently, including budgeting, cash flow management, and financial reporting.

Acquiring a shelf company in Turkey can be a strategic decision for businesses looking to establish a presence in the country quickly and efficiently. However, it is essential to understand the responsibilities that come with owning a shelf company and to ensure compliance with Turkish laws and regulations.

With careful management and adherence to best practices, a shelf company can be a valuable asset for business expansion in Turkey.

How to Purchase Shelf Company in Turkey?

There are no restrictions when it comes to the nationality of those who want to a buy shelf company in Turkey. Considering Turkey is quite open when it comes to foreign investments, entrepreneurs from any country around the world can decide on the way they want to set up a business: by registering a new company or through a shelf company.

If you are interested in opening a company in Turkey and don’t know if a shelf company is the best option, you can discuss your decision with our lawyers.

Advantages of a Shelf Company in Turkey

Shelf companies are preferred by many investors because of their advantages listed below.

• They are already incorporated, and they only need a few changes in order to start economic activities
• Even if in Turkey shelf companies must have had an economic activity, the purpose of these companies can be changed
• They come with tax identification number and thus no longer require tax registration
• They can be used for almost any type of economic activity in Turkey, but can also be used as offshore companies
• They come with already opened bank accounts; however, these can be changed alongside other amendments which can be brought to them
• Shelf companies are usually registered as private limited liability companies which offer several benefits

The purchase of a shelf company in Turkey is not a lengthy procedure, as it can be completed in a few days. Our company formation lawyers in Turkey can help you with the formalities when buying an aged company.

The Procedure for Buying a Turkish Shelf Company

This procedure is simpler and it lasts less than the incorporation of a new company. A legal entity or a natural person can buy a shelf company in a few days. After the new shareholder takes over the company, he can make any changes necessary. The articles of incorporation, company address, capital amount, and field of activities can be changed.

The new board of directors, company management, and address will also be registered with the Istanbul Chamber of Commerce. The new shareholder can add other objects of activity and can make other changes too regarding the bank representatives or other activities of the firm.

The Sale-Purchase Agreement when Buying a Turkish Shelf Company

The purchase of a shelf company in Turkey is based on a contract signed between the company selling such structures and the foreign investor. The document needs to be signed by both parties; however, due diligence is essential before signing any document. Then, the transfer of shares needs to be completed and the changes must be notified to the Turkish Trade Registry.

We can help with the company’s due diligence services, no matter if you are interested in buying a shelf company or entering a partnership with a Turkish company. Our company formation lawyers can assist when making changes in a company.

Reach us to Buy a Shelf Company in Turkey

For businesses looking to establish a presence in Turkey swiftly and efficiently, acquiring a shelf company can be a strategic decision. A shelf company, also known as an aged company or ready-made company, offers the advantage of immediate operational capability, allowing businesses to start their activities without the delays associated with company registration.

By acquiring a shelf company, businesses can also benefit from enhanced credibility, as the company is already registered and has a history, which can be appealing to potential partners and clients.

For expert guidance on acquiring a shelf company in Turkey and ensuring compliance with all relevant laws and regulations, contact Finlexia Accounting Firm. Our experienced Turkish accountants can provide comprehensive support and assistance throughout the acquisition process, helping you leverage the advantages of a shelf company for your business expansion in Turkey.

You may reach us to buy a shelf company in Turkey through our Contact page.