GLOBALLY RECOGNIZED TURKISH LAW FIRMRECORDS OF EXCELLENCE AND PROFESSIONAL LEADERSHIPOUT IN FRONT IN TURKISH LEGAL WORLD
Akkas & Associates is a globally recognized Turkish law firm with a long record of excellence and professional leadership in Istanbul, Turkey. Our Istanbul liasion office formation lawyers are prepared to handle your company formation needs in Turkey. Our liasion office formation lawyers are experienced in LLC establishment, joint stock company, holding company, branch office, liasion office, and free trade zone company incorporation, and company management and governance.
Companies established in accordance with laws of foreign countries can open liaison offices in Turkey provided that those offices do not carry out any commercial activities in Turkey. So as to open a liasion office in Turkey, the relevant company has to apply to the Directorate General of Foreign Investments of the Undersecretariat of Treasury.
Applications for establishment and extension are to be finalized within 5 days following the application provided that the necessary documents are complete and proper. Applications of foreign companies to establish liaison offices so as to operate in sectors subject to special legislation such as money and capital markets, insurance, etc. are assessed by the relevant regulatory and supervisory authorities.
Liasion Office Application Documents
The following documents have to be submitted to the Directorate General for establishing a liaison office in Turkey:
- The original copy of Certificate of Activity approved by the related Turkish Consulate or approved in accordance with the provisions of the Convention on the Abolishing the Requirement of Legalization for Foreign Official Documents Approval Obligation, prepared on the basis of the Hague Conference on International Private Law,
- Operational report or balance sheet and income statement of the main company,
- The original copy of power of authority issued to the name of the person who is appointed to carry out the operations of the liaison office,
- The original copy of power of attorney in case that another person will carry out the establishment transactions of the liaison office.
After an establishment permit is granted by the Directorate General of Foreign Investments, the relevant Liaison office is supposed to register to the local tax office and to send a copy of the tax office registration document to the Directorate General latest within 1 month.
Periodically informing the undersecreariat of Treasury
Liaison offices are supposed to provide the Directorate General with the followings every year latest until end of May so as to inform the authority about their activities of previous years. Documents certifying that the previous years expenses of the office have been covered by foreign currency transferred from abroad have to be enclosed as well.
Duration of operation permits and the extensions
Liaison offices are granted operation permits for 3 years at most. For extensions, successive extensions of maximum 3 years each may be granted by taking into consideration the activities of previous years and plans and objectives for the future.
Termination of Activities
In case a liaison office terminates its activities, the termination and examination of business note to be received from the related tax office has to be submitted to the Directorate General of Foreign Investments. Liaison offices cannot claim any money transfer except the residue arising due to termination or liquidation. The Undersecretariat might cancel the permits of liaison offices in case the offices are found to have violated the legislation.
Reach our Istanbul Liasion Office Formation Lawyers
Since its foundation in 1992, Akkas & Associates Turkish Law Firm has been the choice of numerous clients in Istanbul, Turkey. Thanks to its nationally recognized Istanbul liasion office formation practice, our firm is now one of the leading law firms in Istanbul, Turkey. You may reach our Istanbul liasion office formation lawyers by sending an email to email@example.com or through our Contact page.
A long record of excellence and professional leadership in Istanbul, Turkey