Establishing a general trade company in Turkey is an increasingly popular choice for entrepreneurs and investors. With its unique position bridging Europe and Asia, a robust economy, and investor-friendly regulations, Turkey attracts both local and international interest in its commercial landscape.
Our English-speaking lawyers are ready to assist professionals and investors seeking to establish a general trade company in Turkey in 2025, offering practical steps, legal tips, and key compliance considerations.
Table of Contents
- Understanding General Trade Companies in Turkey
- Establish a General Trade Company in Turkey
- Why Choose Turkey for Your General Trade Company?
- Types of Companies for General Trade
- 7 Key Steps to Establish Your General Trade Company
- Step 1: Determine Your Company Type and Structure
- Step 2: Prepare Essential Documents
- Step 3: Draft the Articles of Association
- Step 4: Obtain a Potential Tax Identification Number
- Step 5: Deposit Capital and Obtain Bank Confirmation
- Step 6: Register with the Trade Registry Office
- Step 7: Obtain Tax Registration and Other Permits
- Post-Registration Formalities and Compliance
- FAQs About Establishing a General Trade Company in Turkey
- Reach us for Establishing a Trade Company in Turkey
Understanding General Trade Companies in Turkey
A general trade company (limited liability company or joint stock company) in Turkey allows businesses to engage in various commercial activities including import, export, domestic trade, and distribution. These entities can operate across multiple sectors simultaneously, providing flexibility and growth potential for ambitious entrepreneurs.
The Turkish Commercial Code provides a comprehensive framework for establishing and operating trade companies, ensuring legal certainty and protection for investors. Turkey’s membership in the Customs Union with the European Union and its extensive free trade agreements create additional advantages for trade companies.
Establish a General Trade Company in Turkey
Turkey’s strategic location, dynamic economy, and burgeoning markets make it an attractive hub for international trade. Establishing a general trade company here in 2025 offers immense potential for growth and market penetration. Navigating the legal landscape, however, requires expert guidance.
Akkas & Associates Law Firm, with over three decades of experience, is your trusted partner for a seamless company formation process.
Why Choose Turkey for Your General Trade Company?
Turkey bridges East and West, offering unparalleled access to both European and Asian markets. Its customs union with the European Union facilitates smooth trade. Furthermore, Turkey boasts a young, skilled workforce and a government actively encouraging foreign investment. The stable economic environment and diverse consumer base present significant opportunities for general trade businesses.
Types of Companies for General Trade
When establishing a general trade company in Turkey, foreign investors typically choose between two primary legal structures:
- Limited Liability Company (LLC – Limited Şirket): This is the most common choice due to its simplicity and flexibility. It requires a minimum of one shareholder and a capital of ₺50,000. Shareholders’ liability is limited to their capital contributions.
- Joint Stock Company (JSC – Anonim Şirket): While requiring more complex setup and higher capital (₺250,000 minimum), JSCs are suitable for larger enterprises planning significant operations or public offerings.
7 Key Steps to Establish Your General Trade Company
Establishing a general trade company in Turkey involves several crucial steps. Our team at Akkas & Associates will guide you through each one, ensuring full compliance and efficiency.
Step 1: Determine Your Company Type and Structure
Before anything else, decide on the most suitable company type (LLC or JSC) based on your business goals, capital, and shareholder structure. Consider the number of founders, their nationalities, and the intended scope of your trade activities.
Step 2: Prepare Essential Documents
A comprehensive set of documents is required. These typically include:
- Notarized copies of passports for foreign individuals or articles of incorporation for foreign corporate shareholders.
- Power of attorney for your legal representative (Akkas & Associates) to handle the setup process on your behalf.
- Proposed company name and its activity scope.
- Proof of address for the company’s registered office.
Step 3: Draft the Articles of Association
The Articles of Association (AoA) are the foundational legal document of your company. They define its purpose, share capital, management structure, and shareholder rights. Our lawyers will meticulously draft your AoA, ensuring it aligns with Turkish Commercial Code regulations and your specific business needs.
Step 4: Obtain a Potential Tax Identification Number
Foreign individuals who will be shareholders or directors need to obtain a potential tax identification number (TIN) from the tax office. This is a relatively straightforward process and a prerequisite for many subsequent steps.
Step 5: Deposit Capital and Obtain Bank Confirmation
The required minimum share capital must be deposited into a blocked bank account. The bank will issue a letter confirming the deposit, which is essential for registration. It’s advisable to open a corporate bank account in Turkey once the company is officially registered.
Step 6: Register with the Trade Registry Office
This is the core step where your company officially comes into existence. The prepared documents, including the AoA and bank confirmation, are submitted to the relevant Trade Registry Office.
Step 7: Obtain Tax Registration and Other Permits
After successful registration with the Trade Registry, your company will be registered with the tax office, obtaining its official tax identification number. Depending on your specific general trade activities, you may need additional licenses or permits from various ministries or regulatory bodies. Our firm will assist you in identifying and securing all necessary permits.
Post-Registration Formalities and Compliance
Establishing your company is just the beginning. Ongoing compliance with Turkish law is crucial. This includes:
- Accounting and Auditing: Maintaining accurate financial records and adhering to Turkish accounting standards.
- Taxation: Understanding and complying with corporate income tax, VAT, and other applicable taxes. Resources like the Turkish Revenue Administration website can provide further details.
- Social Security Registration: Registering employees with the Social Security Institution (SGK).
- Legal Compliance: Ensuring all business operations comply with Turkish labor law, commercial law, and specific regulations related to your trade activities. The Official Gazette of the Republic of Turkey is a key source for legal updates.
FAQs About Establishing a General Trade Company in Turkey
Q1: What is the minimum capital required for an LLC in Turkey?
A1: The minimum share capital required to establish a Limited Liability Company (LLC) in Turkey is ₺50,000.
Q2: Can a foreign individual be the sole shareholder of a Turkish company?
A2: Yes, a foreign individual can be the sole shareholder of both a Limited Liability Company (LLC) and a Joint Stock Company (JSC) in Turkey.
Q3: How long does it typically take to establish a general trade company in Turkey?
A3: The entire process, from document preparation to company registration and obtaining tax numbers, can typically take between 1 to 3 weeks, depending on the complexity and completeness of documents.
Q4: Are there any specific permits needed for general trade companies in Turkey?
A4: While a general trade company primarily engages in buying and selling, specific permits might be required depending on the exact goods being traded (e.g., pharmaceuticals, certain chemicals, food products) or if the business involves specific services. Akkas & Associates will advise on any additional necessary licenses.
Q5: Do I need a Turkish partner to establish a company in Turkey?
A5: No, it is not mandatory to have a Turkish partner to establish a company in Turkey. Foreigners can own 100% of the shares in both LLCs and JSCs.
Q6: What are the main taxes for a general trade company in Turkey?
A6: General trade companies in Turkey are subject to corporate income tax (currently 25%), Value Added Tax (VAT), and other smaller taxes and duties. Our team can provide detailed tax advice.
Q7: Can I open a bank account for my company before it is fully registered?
A7: You can open a blocked bank account for the purpose of depositing the share capital before full registration. However, a fully operational corporate bank account can typically only be opened once the company is officially registered and has its tax identification number.
Reach us for Establishing a Trade Company in Turkey
For comprehensive assistance with establishing your general trade company in Turkey, navigating complex regulatory requirements, and ensuring full compliance with Turkish commercial law, contact Akkas & Associates Law Firm.
Our experienced team of Turkish commercial lawyers provides expert guidance throughout the company formation process, from initial planning to operational compliance. With over three decades of experience since 1992, we understand the intricacies of Turkish business law and can help you establish a successful trade company that meets all legal requirements while maximizing your business opportunities in Turkey’s dynamic market.
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