Foreign individuals and companies are allowed to establish and operate businesses in Turkey. Here is a general overview of the procedures and requirements for foreigners to set up a company in Turkey:
Company Type: Determine the appropriate type of company for your business, such as a Limited Liability Company (LLC) or Joint Stock Company (JSC). Consider factors like liability, capital requirements, and governance structure when making this decision.
Legeslation Assistance: You should engage the services of a accountancy or a consultancy firm experienced in company formation in Turkey. (If you are planning to establish a company in Turkey and need professional support, you can contact us via info@baxleycpa.com)
Capital Requirements: You should Determine the minimum capital requirement for your chosen company type. The minimum capital requirement can vary depending on the type of business and the industry.
Company Name: You should choose a unique and suitable name for your company. İt should have been checked its availability with the Turkish Trade Registry Gazette.
Shareholders and Directors: You should identify the shareholders and directors of the company. For foreign shareholders and directors, certain documents, such as passport copies, may need to be notarized and apostilled or legalized in their home country.
Bank Account: you should open a bank account in Turkey and deposit the required share capital.
Articles of Association: Prepare the Articles of Association, which outline the company's purpose, shareholders, management structure, and other relevant details. This document must be notarized in Turkey.
Trade Registry Office: It should have been submitted the necessary documents, including the Articles of Association, to the local Trade Registry Office where the company will be registered. Registration fees must have been paid and obtain a registration certificate.
Tax Registration: You should register your company with the tax office to obtain a tax identification number.
Work Permits and Residence: Depending on your role in the company, you may need to obtain a work permit or residence permit to legally stay and work in Turkey.
Post-Incorporation Obligations: you should fulfill post-incorporation obligations, such as obtaining any required licenses or permits specific to your business activities.
It's important to note that the process and requirements may vary based on the specific circumstances and the chosen company type. Engaging professional assistance is highly recommended to navigate the complexities of company formation in Turkey and ensure compliance with all legal requirements.
If you need professional support in establishing a company in Turkey, you can contact us: info@baxleycpa.com We will be glad to serve you…
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BAXLEY