Embarking on a business journey in Turkey offers immense opportunities, but traditional company formation can be a time-consuming process. For astute investors and entrepreneurs seeking immediate market entry, a “ready-made company” or “shelf company” presents an exceptionally efficient solution.
Akkas & Associates Law Firm, a leading legal services provider in Istanbul since 1992, guides you through the seamless acquisition of these pre-registered entities, allowing you to hit the ground running in Turkey’s dynamic economy.
Table of Contents
- What Exactly is a Ready-Made Company?
- The Unrivaled Advantages of Acquiring a Ready-Made Company
- Legal Framework and Due Diligence: A Crucial Partnership
- The Acquisition Process: A Step-by-Step Overview
- Ready-Made vs. New Incorporation: Making the Right Choice
- Safeguarding Your Investment: Expert Legal Counsel is Key
- FAQs about Ready-Made Companies in Turkey
- Q1: Is it legal to buy a ready-made company in Turkey?
- Q2: How quickly can I start operating after purchasing a ready-made company?
- Q3: Are there any hidden liabilities associated with ready-made companies?
- Q4: Can I change the name and business activity of a ready-made company?
- Q5: Do I need to be physically present in Turkey to purchase a ready-made company?
- Q6: What types of ready-made companies are typically available in Turkey?
- Contact us for a Ready-Made Company in Turkey
What Exactly is a Ready-Made Company?
A ready-made company, often referred to as a “shelf company” or “aged company,” is a legal entity that has already been incorporated and registered with the Turkish Trade Registry but has remained dormant, without conducting any business operations.
These companies possess a unique tax identification number, a completed registration, and often, a pre-opened bank account, making them a “turnkey” solution for aspiring business owners. The core advantage lies in their immediate availability, bypassing the often-lengthy incorporation procedures.
The Unrivaled Advantages of Acquiring a Ready-Made Company
The decision to purchase a ready-made company in Turkey offers a multitude of compelling benefits:
Swift Market Entry and Operational Readiness
One of the most significant advantages is the speed of establishment. Instead of waiting weeks or even months for a new company to be incorporated, a ready-made company allows for almost immediate commencement of business activities. This can be crucial in fast-paced markets where timing is everything.
Enhanced Credibility and Established Presence
An aged company, even if dormant, carries a registration history. This can lend an air of credibility and stability, which can be particularly beneficial when engaging with potential clients, suppliers, or financial institutions. A company with a longer registration date may appear more established and trustworthy than a newly formed entity.
Simplified Administrative Processes
Many initial administrative hurdles, such as obtaining a tax identification number and completing trade registry filings, have already been addressed. This significantly reduces the bureaucratic burden and frees up your valuable time to focus on core business operations.
Potential for Existing Bank Accounts
Some ready-made companies may come with pre-opened bank accounts, further streamlining your financial setup. While it’s often advisable to review and potentially change these accounts to suit your specific banking needs, it provides a head start.
Strategic Capitalization and Flexibility
Ready-made companies provide a flexible structure that can be easily adapted to your specific business requirements. You can amend the company’s name, registered address, business scope, and even its share capital, offering substantial strategic flexibility for your future plans.
Legal Framework and Due Diligence: A Crucial Partnership
While the benefits are clear, it is paramount to approach the acquisition of a ready-made company with meticulous due diligence. The Turkish Commercial Code (Law No. 6102) governs all company structures in Turkey, including ready-made entities. Ensuring compliance with these regulations is essential.
Akkas & Associates Law Firm emphasizes the critical importance of a thorough legal and financial due diligence process before finalizing any acquisition. This involves:
- Verifying Company Status: Confirming the company’s registration, its active status, and that it has no prior business activities or outstanding liabilities.
- Reviewing Financial Records: Even dormant companies should have clean financial records. This includes checking for any hidden debts, tax arrears, or undisclosed obligations from its past.
- Assessing Corporate Governance: Ensuring the company’s articles of association and internal regulations are up-to-date and align with current Turkish law and your business objectives.
- Identifying Legal Risks: Uncovering any potential lawsuits, intellectual property issues, or other legal entanglements that could impact your future operations.
Our expert team provides comprehensive due diligence services in Turkey to safeguard your investment and ensure a smooth, risk-free transfer of ownership. We navigate the intricacies of Turkish corporate law, providing you with peace of mind.
The Acquisition Process: A Step-by-Step Overview
The process of acquiring a ready-made company typically involves several key steps:
- Selection of the Company: Identifying a ready-made company that best suits your business needs and objectives.
- Due Diligence: As mentioned, a thorough legal and financial review is conducted by our legal team.
- Share Transfer Agreement: Drafting and executing a robust share transfer agreement between the seller and the buyer. This document outlines the terms and conditions of the sale.
- Notarization: The share transfer and other relevant documents are typically notarized in Turkey.
- Trade Registry Filings: Updating the company’s details at the Turkish Trade Registry to reflect the new ownership and any changes to the company’s structure or management.
- Tax Office Notifications: Informing the relevant tax authorities of the change in ownership.
- Bank Account Updates: If applicable, updating the bank account signatory rights and conducting any necessary changes.
Our firm offers seamless company formation in Turkey services, extending to the efficient acquisition of ready-made companies, making the entire process straightforward and compliant.
Ready-Made vs. New Incorporation: Making the Right Choice
While establishing a new company in Turkey is a viable option, the ready-made alternative offers distinct advantages, particularly for those prioritizing speed and minimal administrative burden. A newly established company offers the advantage of a completely clean slate, tailored precisely to your specifications from day one. However, it requires navigating all initial registration processes, which can be time-consuming.
For a deeper dive into the nuances of establishing different company types in Turkey, including Limited Liability Companies (LLCs) and Joint Stock Companies (JSCs), please refer to our dedicated guide on Company Formation in Turkey. This resource provides valuable insights into the various corporate structures available under Turkish law.
The choice ultimately depends on your business priorities. If immediate operation and a streamlined setup are critical, a ready-made company is often the superior choice.
Safeguarding Your Investment: Expert Legal Counsel is Key
The Turkish legal landscape, while generally welcoming to foreign investment, requires careful navigation. Engaging experienced legal counsel is not merely a recommendation but a necessity when acquiring a ready-made company.
Akkas & Associates Law Firm specializes in corporate law and cross-border transactions, providing comprehensive legal support to ensure your ready-made company acquisition is secure, compliant, and poised for success. We ensure that you fully understand your rights and obligations under Turkish law, mitigating any potential risks.
FAQs about Ready-Made Companies in Turkey
Q1: Is it legal to buy a ready-made company in Turkey?
Yes, it is perfectly legal to acquire a ready-made company in Turkey, provided all legal procedures and due diligence are properly conducted in accordance with the Turkish Commercial Code.
Q2: How quickly can I start operating after purchasing a ready-made company?
Once the share transfer and necessary registrations are completed (typically within a few days to a week with expert legal assistance), you can commence business operations almost immediately.
Q3: Are there any hidden liabilities associated with ready-made companies?
While reputable ready-made companies are sold as “clean” entities with no prior activity or liabilities, thorough due diligence by a legal firm like Akkas & Associates is crucial to uncover and address any potential hidden issues.
Q4: Can I change the name and business activity of a ready-made company?
Yes, after acquiring a ready-made company, you can change its name, registered address, and business activity by amending the articles of association and registering the changes with the Turkish Trade Registry.
Q5: Do I need to be physically present in Turkey to purchase a ready-made company?
While some steps might ideally involve personal presence, with a properly executed Power of Attorney (POA) to a trusted legal firm, many aspects of the acquisition process can be managed remotely.
Q6: What types of ready-made companies are typically available in Turkey?
The most common types of ready-made companies available for acquisition are Limited Liability Companies (LLCs) and Joint Stock Companies (JSCs), as these are the most frequently used corporate structures in Turkey.
Contact us for a Ready-Made Company in Turkey
Acquiring a ready-made company in Turkey represents a strategic opportunity for investors seeking immediate market entry and operational flexibility. The process involves complex legal procedures, regulatory compliance, and strategic planning that require professional expertise to navigate successfully.
For comprehensive legal assistance with ready-made company acquisitions, corporate structuring, and Turkish business law matters, contact Akkas & Associates Law Firm. Our experienced German, Russian, and English-speaking lawyers have been providing exceptional legal services since 1992, helping international clients establish successful business operations in Turkey through expert guidance on ready-made companies, foreign investment procedures, and commercial law compliance.
Please fill out and submit the form below to make an appointment.
