To start your company in turkey, you have to decide about the desired type of entity for your business (Sole Proprietorship, Limited Liability Company or Joint-stock company). The registration process doesn’t take longer than a week. The foreign investor must also benefit from a certain amount of capital before starting a business; for example, the Limited Liability Company requires a minimum share capital of TRY10,000, while the Joint stock company must deposit at least TRY50,000. Our attorneys in Turkey can offer assistance with respect to all the procedures required at the incorporation process and can also help you to submit the documents at the Turkish authorities.
Start your own business in Turkey!.
How to register a new business in Turkey?
Foreign enterprises who want to open businesses in Turkey are required to complete a few steps before starting operating. These steps consist of:
- Select name of the company
- Register company name with Trade authorities
- Select type of company
- Rent or buy office for address registration.
- Prepare incorporation documents and notarized them in accordance with the Company Law
- Open the corporate bank account as per entity selected
- Deposit the share capital required by the law
- Appoint the company’s directors or managers
- Submit the incorporation documents and the details of the shareholders/ managers
- Obtain the tax and VAT numbers
- Register for social security purposes with the tax office
- Hire Turkish accountant to maintain your taxation records and timely submission to trade authorities
As soon as you enter in Turkey and your residence permit is done, VRONE’s team will assist you in opening a business here.
Advantages of establishing a company in Turkey?
- Turkish market is among the top 20 markets with significant purchasing power.
- Easy marketing of your product or services within the EU.
- Easy to export, because the Turkish government exempts exports from any taxes. This is one of the reasons for the preference for investment in Turkey.
- Getting a work/residency permit which allows you to get a citizenship after 5 years.
- Health insurance for you and your family gives you free treatment in all state hospitals.
- Schools and universities are free for your family members.
- Social Security is an amount of compensation granted to you by the Turkish government in case of closure or loss of the company, but the company must remain effective for at least two years.
- The pension is a sum that is paid to you by the Turkish government after your work for a specified period in Turkey.
- Support from the Ministry of Economy in case of marketing Turkish products and holding exhibitions and events for your company abroad.
At VRONE TURKEY, we think it is important that you find the right export market and buyer for your product. Based on your company strategy, experience and special desires, our matchmaking team will set you up with contacts in the right markets. We will set up meetings with pre-qualified buyers, importers and other relevant contacts.