Turkish Company Formation Tips for a Successful Start

If you’re considering Turkish company formation, it’s essential to have a reliable partner by your side. At Finlexia Accounting Firm, we offer comprehensive services tailored to your specific needs.

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Our experienced team understands the complexities of Turkish business laws and can guide you through every step of the process. From choosing the right company type to handling documentation and compliance, we ensure a smooth and efficient company formation process.

Turkish Company Formation: How Is It Done?

Welcome to Finlexia Accounting Firm, your trusted partner for Turkish company formation services. With our expert guidance and tailored solutions, we simplify the process of establishing your business in Turkey. Let’s explore what Turkish company formation entails, how it is executed, and the key responsibilities involved.

What is Turkish Company Formation?

Turkish company formation refers to the process of legally establishing a company in Turkey. This includes registering the business, obtaining necessary licenses and permits, and complying with all legal requirements to operate in the country.

How is Turkish Company Formation Done?

1. Choose Your Company Type: Decide on the type of company you want to establish, such as a limited liability company (LLC), joint-stock company (JSC), or branch office.
2. Prepare Documents: Gather the required documents, including identification papers, articles of association, and proof of address.
3. Register Your Company: Submit your documents to the Trade Registry Office and pay the necessary fees to register your company.
4. Obtain Tax Numbers: Obtain tax identification numbers for your company and its employees.
5. Open a Bank Account: Open a corporate bank account for your company.
6. Obtain Licenses and Permits: Depending on your business activities, you may need to obtain specific licenses and permits.
7. Comply with Legal Requirements: Ensure compliance with all Turkish laws and regulations related to your business.

Responsibilities of Turkish Company Formation Services:

1. Legal Compliance: Ensure that your company complies with all Turkish laws and regulations related to company formation.
2. Documentation: Prepare and submit all required documentation for company registration.
3. Consultation: Provide expert advice and consultation on company formation procedures and requirements.
4. Representation: Represent your company during the registration process with the Trade Registry Office.
5. Follow-Up: Follow up on the progress of your company registration and address any issues that may arise.
6. Support: Offer ongoing support and assistance for any additional requirements or changes to your company’s structure.

At Finlexia Accounting Firm, we understand the complexities of Turkish company formation and are committed to ensuring a smooth and efficient process for our clients. Reach us today to learn more about our services and how we can help you establish your business in Turkey.

Steps for a Turkish Company Formation

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 Turkish Company Formation

• 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

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 for Turkish Company Formation?

We can form 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 form 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 

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 a utility bill.
• Turkish tax ID number for each shareholder (we will get it).
• Signature circular for the company.
• Company stamp.

Reach us for Establishing a Company in Turkey

If you’re considering establishing a company in Turkey, having a trusted partner can make all the difference. At Finlexia Accounting Firm, we offer tailored solutions to simplify the Turkish company formation process.

Our experienced Turkish accountants understand the complexities of Turkish business laws and can guide you through each step with precision. From selecting the right company structure to managing documentation and ensuring compliance, we provide comprehensive support to ensure a seamless experience.

Contact us today for a consultation and let us help you establish your business in Turkey confidently. You may reach our accountants and lawyers for Turkish company formation by visiting our Contact page.