At Finlexia Accounting Firm, we specialize in assisting foreign investors and businesses to start a company in Turkey. Our team of experts can guide you through every step of the process, ensuring that your company is registered efficiently and in compliance with Turkish laws and regulations.

With our assistance, you can start your business in Turkey with confidence, knowing that you have a trusted partner to support you every step of the way.

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How to Start a Company in Turkey: A Comprehensive Guide

Are you considering starting a company in Turkey? As a leading Turkish accounting firm, Finlexia Accounting Firm is here to guide you through the process. Starting a company in Turkey can be a rewarding venture, but it requires careful planning and adherence to legal requirements.

Our team of experts at Finlexia Accounting Firm can provide you with the necessary support and guidance to ensure a smooth and successful company formation process.

Understanding the Types of Companies in Turkey

Before starting the company registration process, it’s essential to understand the different types of companies you can establish in Turkey. The most common types of companies include:

1. Limited Liability Company (LLC): A popular choice for small to medium-sized businesses, an LLC requires at least one shareholder and offers limited liability protection.
2. Joint Stock Company (JSC): Suitable for larger businesses, a JSC requires a minimum of one shareholder and offers the ability to issue shares to the public.
3. Branch Office: A foreign company can establish a branch office in Turkey, which operates as an extension of the parent company.
4. Representative Office: A representative office is limited to conducting market research and promotional activities on behalf of the parent company.

Steps to Starting a Company in Turkey

1. Determine Your Company’s Type and Name

Decide on the type of company you want to establish and choose a unique name for your business. The name must not be identical or similar to an existing company in Turkey.

2. Prepare Your Articles of Association

Draft your company’s articles of association, which outline the company’s purpose, structure, and rules of operation. This document must be notarized in Turkey.

3. Obtain a Tax Number and Open a Bank Account

You will need to obtain a tax number for your company and open a bank account in Turkey for capital deposit.

4. Register Your Company

Submit your company registration application to the Trade Registry Office in the province where your company will be located. Along with your application, you will need to provide the required documents, including the articles of association, tax number, and bank account information.

5. Obtain Necessary Permits and Licenses

Depending on your business activities, you may need to obtain additional permits or licenses from relevant authorities in Turkey.

6. Register with the Turkish Social Security Institution (SGK)

Register your company and employees with the SGK to ensure compliance with Turkish labor laws.

7. Fulfill Ongoing Compliance Requirements

Once your company is registered, you will need to comply with ongoing legal and tax requirements in Turkey, including filing annual financial statements and tax returns.

How Finlexia Accounting Firm Can Help

At Finlexia Accounting Firm, we specialize in assisting foreign investors and businesses with company formation in Turkey. Our team of experts can guide you through every step of the process, from choosing the right company type to fulfilling ongoing compliance requirements. With our assistance, you can establish your company in Turkey efficiently and with confidence.

How to Start a Company 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.

Roadmap to Start a Company 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 it 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

Start a Company in Turkey

Moreover, we have established 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 to Start a Company in Turkey?

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

We Need the Following Documents for a Company Formation 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 a limited company 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 prove documents such as utility bills.
• Turkish tax id number for each shareholder (we will get it).
• Signature circular for the company.
• Company stamp.

Reach us to Start a Company in Turkey

At Finlexia Accounting Firm, we understand the complexities of starting a company in Turkey, and we are here to help. Our team of experts can provide you with comprehensive tax and legal advice tailored to your specific business needs. We can also assist you with ongoing compliance requirements, ensuring that your company remains in good standing with Turkish authorities.

Contact Finlexia Accounting Firm today to learn more about our tax and legal services and how we can help you start and grow your business in Turkey. With our expertise and personalized approach, we can be your trusted partner in navigating the complexities of the Turkish business environment.

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