Turkey Company Formation

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Company Formation and Related Services



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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Partner Law Firms

We encourage you to contact our partner law firms in Bucharest: Rolegal and E&C, both part of our legal network.

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Tax Minimization Structures

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Set up a Company in Turkey

October 8, 2010, 1:59 pm

Turkey is a country with a stable economy, welcoming foreign investors to set up business here. There are many incentives and entrepreneurs are welcomed to invest in any business domain. The procedure of incorporating a Turkish company is simple, having a straightforward procedure. A Turkish company is established in a short time period.

Preliminary activities prior to registering Turkish limited liability and joint stock companies

Prior to registration entrepreneurs must notarize the articles of association, signature declarations of the managers, copies of each manager's identity card and the commercial books. Also before registering Turkish limited liability or joint stock companies it is necessary that the founders deposit a requested percentage of the capital to the account of Competition Authority. The institution issues a receipt certifying that 0, 04% of the company's capital has been deposited at the central or public bank. After this step is completed, the partners of a company must deposit the initial capital in a bank and also obtain a certificate. If the share capital is not paid at registration, it can be paid in tranches within three months from registration. Other option is to pay 25% at registration and the rest within three years from incorporation.

Registering Turkish limited liability and joint stock companies

In order to be able to engage in business activities a company must register at the Trade Register of Turkey. Founders have to pay a tax in order to obtain chamber registration. Registration with the Commercial Registry Office in Turkey is done through submission of the incorporation notice form in three exemplars, three copies of the notarized articles of association, chamber registration statement and other significant company documents, such as two copies of the representative’s ID, the bank deposit receipt, two copies of the representatives’ specimen signatures. After registration (completed in approximately 2 days) the judges of the Commercial Registry issues a registration certificate, or requests additional information. The Registry also notifies the Tax Office and the District Employment Office about the incorporation of the company and publishes the notification in the national Gazette. In practice, the company’s representatives are supervising the registration at the Tax Authorities to make sure is made on time. For this, a Tax Authority’s representative elaborates a determination report, after visiting the company’s headquarters.

Notarizing the legal books of the Turkish limited liability and joint stock companies

The next step in incorporating limited liability or joint stock companies in Turkey implies notarizing the legal books. This procedure must be done by a public notary in the same day as obtaining the certificate of registration. The notary public must also notify the State Tax Authority of the legalization of the company books.

Setting up a Turkish limited liability and joint stock companies from abroad

The state of Turkey offers plenty incentives for foreign investors, having no additional regulations more than for Turkish entrepreneurs. A fully foreign owned capital is accepted, as well as the use of any currency. The profits can be expatriated without problems, and entrepreneurs can engage in any business activities, provided they do not interfere with state security, public health or environmental issues. A Turkish company may be established through a power of attorney.

How long does it take to set up a company in Turkey?

The incorporation process is very short, making it appealing for foreign investment. Registering with the Trade Registry is completed in 2 days, and simultaneously notification of the Tax Authorities and publication in the National Gazette being completed. The remaining procedures are completed in the same day, or the next day from the application. A Turkish company is set up in approximately one week, but may take a less depending on the company type and its activities.

Bridgewest offers company formation in Turkey, including virtual office and other related services.


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Company Formation in Turkey



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