Company registration in Turkey; A way to enter global markets

What you read in this note:

• Zero to one hundred company registrations in Turkey
• Types of company registration in Turkey
• Company registration in Turkey
• Documents required to register a company in Turkey
• Company registration process in Turkey
• Company registration in Turkey

If you are planning to register a company in Turkey, it is better to be fully aware of the rules of registering a company in Turkey.

Zero to one hundred company registrations in Turkey

Turkey is a developed country and Europe, which is very popular among Iranians for work and life due to its proximity to Iran. One of the easiest ways to stay in Turkey is to participate and invest. In recent years, Turkey has been a better destination for immigrants looking to start a business. Because the process of registering and creating a suitable job in Turkey is much easier than in other European and American countries. Read more about the conditions and facilities for registering a company in Turkey.

Types of company registration in Turkey

Ltd (Limited)

One of the most popular ways to register a company in Turkey; The cost of registering a limited liability company is 1000 lira, and in this type of company, depending on the type of activity, the number of partners was from 1 to 50, and a company with a bankruptcy problem can make each shareholder responsible for his share.

JCS

This type of company can be established in two types of public and private joint stock and less with 5 individuals and legal entities. In a joint stock company, the share capital partners are responsible for the company.
In a public joint stock company, the number of shareholders is more than 250 and in a company, the number of special shareholders is 5.

Cooperative Company (Cooperative)

A cooperative company is set up to do participatory work and the minimum number of people required to create this type of company is 7 people.

Collective participation (collective)

This type of company requires less than two partners, each of whom has the right to manage the company independently, in this type of company does not require a minimum of capital.

Benefits of registering a company in Turkey

• The company registration process is easier and faster than in other European countries
• Possibility of obtaining residence for yourself and family members
• Allow independent activity for foreigners without the need for a Turkish residence card
• No need to leave a business partner
• One year residence permit after registering a company in Turkey
• Ability to use bank benefits such as bank loans with interest rates of 1.32% and more
• Open a currency account in lira, dollars or euros based on the individual needs to do business
• Lower tax rates than in other countries
• Possibility of obtaining permanent residence and obtaining a Turkish passport
• You can use a home office to register a company and you do not need to rent a business office.
  Unrestricted business activity for individuals and legal entities

Documents required to register a company in Turkey

To register a company in Turkey, you must first deposit a certain amount in your bank account to register and establish a company, which is at least 10,000 lira in Turkey, and then provide the documents required to register a company, including the following.

• Get a tax code from the Turkish Treasury or Vergi
• Two 3 * 4 photo pieces
• Original passport of a person with a validity of at least 6 months (if you have a partner, the original passport of the partners is required)
• Official translation of documents and passports and obtaining approval from the Civil Registry Office
• Choose the right name for the company
• Specify the scope of activity of the company
• Determining the percentage of partners’ shares (if they have a partner)
• Appoint the company manager and the names of the members and the position of the board of directors
• Specify the address of the company office in Turkey

Company registration process in Turkey

• Preparation of articles of association and special forms for company registration
• Specify the address of the company for notification to the Turkish Treasury
• Go to the Treasury or Vergi to get the tax code
• Refer to the notary public office to approve the articles of association
• Obtaining a power of attorney and confirming the sample signature in the office
• Refer to the Commercial Office to register the company
• Announcement and publication in the official Turkish newspaper
• Fill in the form of finance department and refer to the department and submit the necessary documents
• Visit the address provided to register the company and confirm it by the inspectors of the Finance Department
• Obtain a tax code to confirm the address of the company after visiting the asset inspectors
• Obtaining a Turkish business card
• Opening a commercial bank account in the name of the company
• Designate an accountant and financial advisor for the company (in Turkey, having an accountant in the company is required)

Company registration fee in Turkey

The cost of registering a company in Turkey varies depending on the type of company, field of activity and the city to register the company. But in the end, on average, the minimum cost to register a company in Turkey is $ 1,000 to $ 2,000 and to start a company. Of course, in addition to the costs of registering a company, you also have other costs, such as renting an office and the salary of a financial consultant. This amount will be paid for the following:

The cost of renting a workplace

The rent varies depending on which city your company is in; If you rent a company office in residential units, this amount will be less.

Cost of staying active in Turkey

The minimum cost for the company to remain active in Turkey, which includes employee salaries, current company expenses, payment of 23% corporate rent tax, water, electricity, gas, internet and telephone costs.

Brand registration fee in Turkey

Since the name of your company is your brand, you have to pay a certain fee, which varies depending on the type of service and product offer. To do this, you must fill out and submit the brand registration form in accordance with the regulations, and after paying the fee and the relevant forms, you will be awarded the trademark credit, which is valid for at least 10 years.

Concluding remarks

To register a company in Turkey, it is better to examine all aspects of the work and after the necessary evaluations, proceed to register the company. Because, as mentioned earlier, registering a Turkish company is not a difficult task, but dissolving a labor company will be much more difficult. Also, considering the cost of registering a company in Turkey and other ancillary costs such as office rent, salaries and taxes, and the consultant’s financial rights can be very heavy for you at the beginning of the work.