Establishing a company in Turkey is a matter that has occupied every investor who wants to start a business in Turkey, as it is obvious that any business in Turkey must be included in the laws of the Turkish government.
Therefore, the corporate system is the prevailing legal system, since it provides established companies in Turkey with the necessary support to operate, and thus regulate the work between these various economic entities with each other to the government and the tax system.
The business authorization in Turkey is the most important variable for launching into the Turkish labor market and, through its establishment, the required work licenses and the necessary facilities for the business of its investors are granted.
How to Establish Companies in Turkey?
The Turkish market is known to be considered a golden opportunity for companies and investors. However, the legal face represented by (the company) is considered the main basis for the establishment and prosperity of a business in accordance with applicable laws and regulations.
Therefore, setting up a new company in Turkey is a very simple process and does not require many conditions or complicated procedures. It is even possible for any foreigner who wants to invest in Turkey or start a business there; Establish a company in Turkey from abroad, by organizing an agency at the Turkish consulate in your place of residence, for a lawyer or a trusted advisor based on monitoring the registration of the company in Turkey on a regular basis.
Best Tips to Establish Company in Turkey
The steps for establishing a company in Turkey are usually applied for all types of companies:
- Selecting the appropriate accountant and prepare legal representation.
- Preparing the necessary documents for the incorporation and writing the company contract to register it in the official departments.
- Approving the signature of the company’s manager at the notary.
- Obtaining the security approval.
- The company has to be registered in the Chamber of Commerce.
In addition, Trustus Company provides a comprehensive package for all these steps, which we implement carefully and competently within our company, and at preferential prices for clients.
Types of Companies in Turkey
Below is a comprehensive list, illustrating the types of companies in which investors can establish in Turkey:
1. Limited company
A company with a specified capital, not less than 10,000 Turkish Liras with divided shares.
It is possible to establish a limited partnership in this type of companies with one or more partners, up to 50 partners, who are real or legal persons.
The financial responsibility in this type of companies is independent and limited to its declared capital and separate from the financial liability of its owners.
This type of companies has a wide business influence in the market, with the exception of the banking and insurance fields.
2. Individual Company
A sole proprietorship, representing the name of one person, it is not possible to partner with other people later, and this company bears the name of its founder.
Individual companies can be established in Turkey with a relatively small capital (10,000 Turkish liras), and are characterized by the low costs of establishing them and their monthly expenses, with the ease of establishing or closing procedures, and they are suitable for relatively small businesses, such as shops.
However, its disadvantage is that the company's financial responsibility is not separate from that of its owner. If the personal company is exposed to a financial issue, the property of its owner may be seized.
3. Shareholding Company
A company with divided capital into shares distributed among partners (shareholders). The responsibility of shareholders and their rights are determined according to the percentage of their shares in the company's capital, and this type of companies is distinguished by its broad scope of powers and its suitability for large businesses.
When establishing a joint stock company, the number of founding partners must be at least 5 persons.
As for the company's capital, it should not be less than 50,000 Turkish liras or more.
Issuing Verification for Companies in Turkey
Issuing the authentication for a company in Turkey, a financial accountant must be appointed, who will be carefully selected with experience and competence, and it is preferable to speak the native language as the investor, to avoid confusion or misunderstanding.
Usually, companies can be established in Turkey within a few days, and it is useful to have a lawyer when preparing the required papers in order to avoid errors, which is what Trustus provides with high efficiency and accuracy.
Work Permit in Turkey
The work permit system in Turkey provides a wide range of guarantees for workers in the private companies and institutions sector, with a variety of services that guarantee workers a set of benefits that accrue to the employee and family members.
Among the most important of these are free medical care in government hospitals, as well as high subsidies, discounts in private hospitals, and medicine.
In addition to the advantages of preserving the rights of workers who hold work permits from unfair dismissal, and their obtaining end-of-service compensation, and many other advantages.
In addition, it is very useful to obtain work permits for the owner of the company, as Trustus Company can provide in an efficient and professional way, within the package of establishing companies in Turkey.
In conclusion, the required documents for incorporation differ according to the type of company, its powers (limited - individual - shareholder), and the business to be practiced. Usually, these procedures take place within a few days, not exceeding one week.
In order to obtain regular business authentication, we in "Trustus" company recommend hiring a lawyer specializing in this field, to ensure obtaining these documents and to avoid falling into legal issues.
The appointment of a strong, capable and experienced legal accountant is importance to follow up on the company’s affairs and legally represent it before the Turkish state.
Moreover, in In Trustus company; we offer our services in the language you prefer, with trusted consultants who are willing to provide assistance, and in accordance with the requirements of Turkish law.
Edited by: Trustus Company©
