The Republic of Turkey actively attracts foreign investment by creating comfortable conditions for the development of foreign business in the country. The main advantages of opening a company in Turkey:

              • Fast registration process – after submitting all the necessary documents, the company is entered into the register within 1-2 business days

• Inexpensive cost of company registration and related services

• The ability to quickly open a bank account in the country of registration of the company

• Large domestic market and strategic location

• Stable banking system that provides the opportunity to work with a variety of currencies (including EUR, USD, RUB) 

We provide a full range of services for registration and further maintenance of a company and/or a branch of a foreign company in Turkey on a turnkey basis, which includes registration and maintenance of legal entities, provision of a virtual office, opening a bank account (corporate and individual), translation and notarization of documents, obtaining tax numbers (corporate and individual), and accounting services.

Company types: the most common forms are Limited Şirket (analog of LLC) and Anonim Şirket (analog of JSC). According to the legislation, the responsibility of the founders of both forms of companies is limited by the amount of the contribution to the authorized capital.

Branch of a foreign company in Turkey

 According to Turkish law, a branch of a foreign company is a separate organizational part of the company through which the company operates in accordance with the law. And also, a branch:

• Is not an independent legal entity. The term of its existence is limited by the term of the parent company.

• There are no capital requirements.

• Repatriation of profits of the company's branch is allowed.

The registration of a branch allows a foreign company to easily open an account in one of the banks in Turkey.

The main advantages of opening a branch in Turkey:

• Ideal solution for customers who want to continue doing business with their existing companies

• A branch of a foreign company has its own tax number and is considered a resident

• Opening a branch and a bank account takes about 10-15 days.

Founders: according to the legislation in Turkey, there are no restrictions on the registration of a company with respect to foreign founders – 100% foreign ownership is allowed. The founder can be either a foreign citizen or a foreign legal entity. Both LLC and JSC can be registered with 1 founder (for LLC, the maximum number of founders is 50).

CEO: at least 1, phys. a person can be a citizen and resident of any country.

Employment of citizens: there is no requirement to employ citizens in the company. 

Authorized capital: For an LLC, a minimum of 10,000 TL (there is no obligation to deposit to the account before the company is registered; the capital must be paid within 2 years from the date of registration). For a joint-stock company, at least 50,000 TL (at least 25% must be deposited into a blocked bank account before registration; after registration of the company, the account will be unblocked; the remaining part of the capital must be paid within 2 years from the date of registration).

Legal address: Every Turkish company is required to have a legal address in Turkey. The company is "attached" to a certain branch of the tax service, depending on the legal address, and after registration, a representative of this branch of the tax service checks the place of registration of the company (often with a personal visit). It is allowed to rent a virtual office or a small room, but not just a mailbox.

Types of activities: The Company has the right to engage in any type of activity that is not prohibited by the law. For some types of activities, only the form of JSC is allowed (insurance, currency exchange, audit, etc.). All planned activities are included in the Charter without fail, but there are no restrictions on the number and scope (for example, tourism, transport services, and exports may be included in the charter for one company – this is a fairly common phenomenon, and even local banks do not find fault with this).

Required documents if the founders are individuals:

- A copy of the passport of the founders and director with translation into Turkish and notarization (2 copies)

- 2 photos of the founders for documents

- Potential tax numbers in Turkey for founders and directors (this service is provided by us and is included in the price)

- If the founders do not come to Turkey, it is necessary to issue a power of attorney for the registration of the company; this power of attorney is to be certified through the consulate of the TR, or by a notary with subsequent legalization. 

Required documents if the founders are legal entities (optional):

- The decision of the Board of Directors on the registration of a subsidiary – with translation into Turkish and notarization

- The decision on the appointment of the director of the subsidiary company - with translation into Turkish and notarization

- Company registration certificate - stamped with "Apostille", translated into Turkish and notarized

- Extract from the commercial register - stamped "Apostille", translated into Turkish and notarized

- The charter of the company - with the stamp "Apostille", translation into Turkish and notarization.

Taxes:

The income tax in Turkey is 23%, regardless of whether the business is conducted in Turkey or abroad.

Banks:

Accounts are opened in 99% of cases. The average time to open an account for a Turkish company is one week.

Banks: Kuveyt Türk, Türkiye Finans, Ziraat, Vakıf Katılım, Emlak Katılım, iş Bankası etc.

Process:

1. To start registering a company, you must provide information:

- Parents' names in Latin

- Address of residence + Utility bill

- Name of the future company

- Types of activities

- The amount of the authorized capital

2. Translation and notarization of the listed documents is carried out in Turkey.

3. An electronic application for registration with the Charter of the established company is submitted through the state system.

4. After receiving approval for registration, the originals of the constituent documents are submitted to the relevant Register of Enterprises, fees are paid.

5. Within 2 days, the company is officially registered, after which a registration certificate is issued by the Register of Enterprises.

6. After that, the director of the company must personally certify the signature sample (imza sirküleri) with a Turkish notary – without this procedure, registration will not be complete, and it is impossible to open a bank account.

7. In addition to the signature sample, a power of attorney for bookkeeping and filing company reports is issued by a notary.

8. Constituent documents with a sample signature are also submitted to the bank with a personal visit of the director (the last two items are carried out on the same day). 

ü  When registering a company by proxy, the director must personally come to Turkey for 2 working days to issue signature samples and open a bank account.

ü  When registering a company without a power of attorney, the founder and director must come to Turkey for 5 working days. 

Obtaining a residence permit in Turkey:

It is issued for 1 year with the right of subsequent extension. This residence permit does not give the right to employment in Turkey, but there are no restrictions on remote work or opening a company. Documents are submitted to the migration service only after entering Turkey. Consideration – 2-3 weeks (it is necessary to be on the territory of Turkey for the time of consideration). 

Required documents:

- Passport

- 4 photos

- A lease agreement certified by a notary, or a document confirming ownership - "tapu"

- Tax number in Turkey

- Medical insurance (from the age of 18)

- Bank statement (bank of any country)

- Certificate of no criminal record with apostille (from the age of 18) 

Additional documents for family members:

- Marriage certificate (with apostille)

- Child's birth certificate (with apostille)