Company Establishment

Turkey is located in two parts of the world: most of it is in southwestern Asia, occupying the Anatolian Peninsula, and a smaller portion in southern Europe. Its official name is the Republic of Turkey. Its eastern borders separate Turkey from Iran, Georgia, Azerbaijan, and Armenia, and to the south from Iraq and Syria. Turkey’s western border is shared with Greece and Bulgaria.

Four seas wash the shores of Türkiye: the Mediterranean, the Aegean, the Black and the Marble.

The capital of Turkey is Ankara. The area of the province is slightly over 780 thousand ^km2 . The population is about 73 million people.

Today, registering or purchasing a company in Turkey has become a popular service in our company. Consider the main points of conducting business in this country. The 21 free zones in Turkey are very attractive for companies that are well positioned to benefit from tax incentives.

Benefits of doing business in Turkey:

– simplicity of all procedures. Here the state apparatus works clearly and harmoniously. This allows you to quickly and easily obtain permits, licenses, certificates of goods, submit reports, etc.

— low level of economic risks. Stability and predictability when starting a business gives a foreigner the same rights, benefits and subsidies as Turkish entrepreneurs. But the responsibilities are the same as those of a Turkish citizen. Another measure to encourage business development in Turkey is the creation of various special investment zones.

Technological development zones (ZTR). These are special investment zones created in various cities of the country. It is planned to open a total of 39 Technoparks, 27 of which are currently operational (for example, in Antalya, where all conditions for supporting research activities and investing in high technologies are created).
Organized Industrial Zones (OSBs). These are industrial associations that include hundreds of enterprises from the field of small and medium-sized businesses. Each of them operates in a certain area. In this region there are privileges for taxation, crediting, cost of energy resources. Today, 148 such zones operate.
Free zones. These are specially designated areas located outside the customs area, but within the territory of Turkey. They are designed to increase export-oriented investments. Standard management rules work here partially or not at all. Now 19 zones close to ports operate in Turkey.

Business Forms

The simplest and most useful company forms for foreigners in Turkey are:

– Limited Company ( LS );

— Joint Stock Company ( AS ).

legal framework

The registration and activities of businesses in Turkey are regulated by the Foreign Direct Investment Law No. 4875.

What you need to know to register an AS company in Turkey

The company’s capital is divided into shares.
The liability of all shareholders is limited to the subscribed capital and is paid by the shareholder.
To open a company, it is mandatory to have at least one shareholder (real person/legal entity) and a minimum capital of 50,000 Turkish Liras.
The full statutory fund must be paid on the day the application for registration is submitted.
The general assembly and the board of directors are also prerequisites for the company.
There may be one member (natural/legal person) on the board of directors, but this member may not be an actual shareholder of the company.

Turkish company registration LS

It will take approximately 10 days to register.
The company needs only one manager of any nationality.
Two shareholders of any nationality are sufficient.
The required capital is 10,000 Turkish Liras.
To open a company it will be necessary to come to Turkey (so that the company directors will sign the documents).

In general, we can say that today the company registration procedure in Turkey has been greatly simplified. For example, there are no longer rules requiring Turkish participation in the company’s capital or management. The company can be registered with 100% foreign capital.

Today, the Limited Company is the most common business form in Turkey. Consider additional information about the registration process.

To obtain the name you have chosen, you must undergo a special check at the registry authorities.

The company name should indicate the business line of business.

The name must include the word Limited.

Foreign words in the company name are only allowed if they are not against the law.

After completion of the registration procedure, the authorized capital amount of the enterprise must be credited to an account in a Turkish bank.

In order for a foreign investor to register a company, he/she must have a Certificate of Activity of the company, previously issued by the relevant authority in the country where the investor resides. This certificate contains information about the current active signing status of the company directors.

Turkish legislation requires you to register a company office. Therefore, you will need to draw up a contract to rent the property in person or use the services of a virtual office.

Please note: legal entities must register a legal address with the tax office before or on the day of registration. The tax number received will be officially certified by a notary. From this moment on, the company can start its activities in Turkey.

List of documents that foreign founders must have in order to open an SL company in Turkey.

For a foreign person:

— Notarized translation of the international passport;

– Individual tax number obtained in Turkey;

– Notarized copies of residence permit (or work permit), if any;

– If the founder has previously obtained a residence permit in Turkey (for a period of at least 6 months) and has an individual foreign citizen number in Turkey, he will need to present a certificate in which this number will be indicated. The certificate must be certified by the registry office or a Turkish notary.

A foreign legal entity will need to:

– Certificate of registration of a legal entity;

– Extract from the Unified State Register of Legal Entities ( Unified State Register of Legal Entities ) ;

— Decision of the Board of Founders regarding becoming a partner of a Turkish company. It should indicate which company it is and who will be the representative of the parent company in this procedure;

– Power of attorney from the parent company to participate in the establishment of a Turkish company;

– Translation of the passport of a trustee who is a representative of the parent company;

– Notarized copies of residence permit (or work permit), if any;

— Photographs of the founders.

Documents are first certified in the country of issue and then checked in Turkey and subsequently translated and certified by a Turkish notary.

Taxes in Turkey

The taxation system in Turkey can be classified as follows:

taxes:

for expenses
for added value
for banking and insurance transactions
in the property
for inheritance and donation
in the property
corporate tax
stamp duty.

All businesses in Turkey pay taxes according to their legal status: company or partnership.

A combined rate of 33% corporate tax is paid by corporations and limited companies.

The average VAT in Turkey is 18%.

Various documents are subject to stamp duty: contracts, invoices payable, letters of credit for large deposits, agreements, letters of guarantee, finance and pay slips. Stamp duty is charged as a percentage of the stated value of the document.

Items received as gifts or inheritances are taxed at 4% to 30% of the item’s value.

Property tax must be paid annually based on the value of land and real estate and is approximately 0.3% – 0.6%. In the case of a property sale, the seller and buyer pay a fee of 4.8% of the appraised value of the property sold. If the property is deposited for cash, the rate can be reduced to 2.4%.

We will register a turnkey company for you in Turkey in the shortest time possible. Buying a company in Turkey is now easier than ever. Registering a company in Turkey is one of the easiest and cheapest ways to start a legitimate international business. Company registration is one of our main areas of work.

DOCUMENT SET
	Check with admins
NOMINAL DIRECTOR AND SHAREHOLDER
USD	Check with admins

GENERAL INFORMATION

Square	783 562.00
Population	79 749 500.00
Capital city	Ankara
Unemployment rate	25.30
State structure	republic; parliamentary democracy
telephone code	90
Place in the world in terms of corruption	61
Location	Southeastern Europe and Southwestern Asia
Climate	temperate
literacy percentage	87.40%
ethnic groups	70-75% Turkish, 18% Kurdish; 7-12% other minorities.
National currency	Turkish Lira (TRY)
USD exchange rate	1.81
GDP per capita	86
Official language	Turkish
Credit score	bb-
judicial authorities	The highest level of the judicial system: Constitutional Court, Court of Cassation, Court of Cassation, Council of State, Court of Accounts, Military Court of Cassation, Supreme Military Administrative Court.
Executive authority	Head of Government: Prime Minister. Government: The Council of Ministers appointed by the President upon the proposal of the Prime Minister.
legislative	Turkish Grand National Assembly (550 seats)

SHARES AND CAPITAL

Minimum Declared Capital	10000
Minimum paid-up capital amount, native currency	7500
Permitted bearer shares	Yes
Payment conditions of declared capital	24 months
Possibility of issuing shares without par value	NO

TAXATION

VAT	Yes
Basic profit rate for legal entities. persons	22.00%
Capital gains tax	NO
Tax at source	15% – 20%
Currency control	NO
Personal income tax	15% – 35%
Corporate tax (details)	22%
Stamp duty	NO
Other taxes	18% VAT

MANAGER AND SECRETARY

Minimum number of managers	1
Residence requirement for managers	NO
Managers of legal entities are allowed	Yes
Data is disclosed to the local representative	Yes
Data is entered into an open record	Yes
Requirements for the secretary	NO
Residence requirement for the secretary	NO
Secretary Qualifications	NO
Legal entity secretary is allowed	NO

SHAREHOLDER AND BENEFICIARY OWNER

Minimum number of shareholders	1
Data is entered into an open record	Yes
Shareholder residence requirement	NO
Information about the beneficiary is disclosed	NO
Data is disclosed to the local representative	Yes
Permitted Institutional Shareholders	Yes

REPORTING

Reporting requirement	Yes
Open access to reporting	NO
compulsory control	NO
Annual Return filing requirement	NO
Open access to Annual Return	NO
Reporting requirement	Yes
How many countries have signed the Prevention Treaty?	40
OECD membership	Yes
Is it considered high seas under the laws of the Russian Federation?	NO

TRADEMARK REGISTRATION

COMPREHENSIVE TM EVALUATION		TM REGISTRATION REQUEST		TM REGISTRATION CERTIFICATE		TOTAL
FIRST CLASS	ADDITIONALLY CLASS	FIRST CLASS	ADDITIONALLY CLASS	FIRST CLASS	ADDITIONALLY CLASS	FIRST CLASS	ADDITIONALLY CLASS
60.00	60.00	440.00	200.00	670.00	0.00	1170.00 USD	260.00 USD
“Trademark” means “Trademark”, “Logo” or “Trademark + Logo”
Prices include all professional and government fees. Prices may change if government fees or exchange rates change.”

Possibility to purchase ready-made companies	NO
Legal system	Civil law
Use of Cyrillic in the name	NO
Local registered office	Yes
Organizational and legal forms	Corporation (AS), Limited Liability Company (Ltd., LS), Partnership, Branch
Mentioning OPF in the name	LS
Local Registered Agent	Yes