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Buying a European shelf company with VAT number

Whenever you need to start doing business immediately in a European country and you need a company with a VAT number, you don’t have to wait for the bureaucratic procedures.

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Open a Representative Office in Turkey

October 3, 2012, 4:30 pm
BridgeWest

 Are there any special requirements for creating a Turkish Representative Office?

Foreign companies willing to open representative offices in Turkey must follow the regulations of the Law on Foreign Direct Investments #4875.

The approval for opening a representative office in Turkey is given by the General Directorate of Foreign Investments (GDFI) after applying certain specific documents.

A representative office is receiving the permission of activating on the Turkish territory only for three years, after this period the company must present a report regarding the previous actions, future plans and objectives in order to receive an extension, which is no longer three years. Also the representative offices must submit every year reports on activities no longer than the month of May at the GDFI.

A representative office cannot perform commercial activities that may lead to profits and is not considered a legal entity.

The representative offices are opened especially for research and marketing purposes.

The parent company is taking all the responsibility for the representative office’s actions and manages all its expanses.

What is the minimum share capital of a Serbian Representative Office?

There is no minimum share capital for opening a representative office in Turkey.

What documents are required for the setup of a Representative Office in the Turkey?

The documents necessary for registering a representative Turkey at the General Directorate of Foreign Investments are the following: the certificate of registration of the company at the competent foreign authority (certified by the Turkish Consulate),  the balance sheet of the parent company for the previous year, the power of attorney given to the manager of the representative office or the certificate of authority given to that person, a declaration regarding the future planed actions for the representative office and the presentation of the parent company. Also a copy of the lease contract (if available) must be presented.

If all the documents are sent correctly, the registration is approved within five working days.

After receiving the registration approval the company must apply for the identity number and a withholding tax from the competent tax department. After filling the “Registration Form for Legal Entities” at the tax department, a copy must be sent to the GDFI no longer than a month.




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