How to open a company in Turkey? Turkey presents lucrative opportunities for international investors, but it requires thorough knowledge of the local legal landscape. At Akkas Law Firm, we strive to simplify the complexities of the company registration process, offering expert legal guidance and support.
Whether you are interested in forming an LLC, a JSC, or establishing a branch office or liaison office, our team is dedicated to assisting you every step of the way.
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With Akkas Law Firm by your side, not only will you navigate the complexities of company formation seamlessly, but you’ll also gain ongoing legal support to safeguard your interests.
Steps to Open a Company in Turkey
Start your success story in Turkey today and watch your business flourish in this dynamic and vibrant economy. Akkas Law Firm guides on how to open a company in Turkey, covering various company types, procedures, and essential requirements.
Understanding Company Types in Turkey:
Before diving into the company registration process, it is crucial to select the appropriate company type that best suits your business needs. In Turkey, several types of companies are available, each with distinct characteristics:
Limited Liability Company (LLC): This is the most common form of company in Turkey, offering limited liability protection to its shareholders. It requires a minimum share capital, and the liability of each shareholder is limited to their capital contribution.
Joint Stock Company (JSC): A JSC is suitable for larger businesses seeking to raise capital through the stock market. It requires a higher minimum share capital compared to an LLC and is governed by more stringent regulations.
Branch Office: If you already have an existing foreign company and wish to establish a presence in Turkey, a branch office can be a suitable option. However, keep in mind that it does not constitute a separate legal entity from its parent company.
Liaison Office: A liaison office is established for non-commercial activities, such as market research, promotion, and communication. It is prohibited from conducting commercial activities.
Free Zone Company: A Turkish Free Trade Zone is a specially designed production site that aims at increasing export-oriented investment and production in Turkey, accelerating the entry of foreign capital and technology into Turkey. There are 19 Free Trade Zones in Turkey and their annual trade volume increasing rapidly.
Company Registration Procedures:
Once you have decided on the company type, the registration process involves several steps:
Choose a Company Name: Select a unique and suitable name for your company that adheres to Turkish naming regulations.
Obtain Tax Identification Number (TIN): Before proceeding with the registration, all shareholders and directors must obtain a TIN from the local tax office.
Prepare Required Documents: Gather the necessary documents, which may include passport copies, address proof, articles of association, and a notarized signature circular.
Apply for Company Registration: Submit the required documents to the Trade Registry Office in the province where the company will be based.
Obtain Work Permits: Non-Turkish employees need to obtain work permits to work in Turkey.
Essential Requirements to Open a Company in Turkey
To successfully open a company in Turkey, you must meet certain requirements:
Minimum Share Capital: The amount of minimum share capital required varies depending on the company type. For example, an LLC typically requires a minimum share capital of TRY 10,000.
Shareholders and Directors: An LLC must have at least one shareholder and one director, while a JSC requires a minimum of five shareholders.
Legal Representative: If the shareholders are non-residents of Turkey, the company must appoint a legal representative who is a Turkish resident.
Physical Address: The company must have a physical address in Turkey where official documents can be served.
Summary of Opening a Company in Turkey
Opening a company in Turkey requires careful consideration of the company type, adherence to registration procedures, and fulfillment of essential requirements. Partnering with a reliable legal firm like Akkas Law Firm can provide invaluable assistance throughout the process, ensuring compliance with Turkish laws and regulations.
Contact us to Open a Company in Turkey
With Akkas Law Firm by your side, the process of opening a company in Turkey becomes a seamless and rewarding experience. Our team of experienced company formation lawyers not only simplifies complex legal procedures but also ensures compliance with Turkish Commercial Code, saving you time and effort.
Start your journey toward a thriving business presence in Turkey today, contact us to unlock a world of possibilities!