Turkey is one of the most important places that encourage investment and one of the largest markets in the world, and the Turkish government facilitates the establishment of a company in Turkey from abroad for investors wishing to conduct business in Istanbul and other Turkish cities.

Advantages of establishing a company in Turkey from abroad

First: investment and work

Turkey is one of the best places to invest, establish companies, and think about launching your own project in various fields, commercial, industrial, tourism, and real estate. The Turkish market is one of the best markets in the world and has many important opportunities.

Second: Turkish visa

Establishing a company in Turkey from abroad makes it easy to apply for a visa in Turkey and reside there to directly manage your project and benefit from living in Turkey, its facilities, and services.

Third: health insurance

After establishing a company in Turkey, you and your family members can obtain health insurance. This insurance allows them to have free treatment in all state hospitals and health centers, and at high discounts at major hospitals and private clinics. However, Turkish citizenship can also be obtained after a specified period of work in Turkey.

Fourth: Government facilities

The Turkish government provides a lot of facilities to investors and project owners, and exempts exports from taxes, and investors can easily market their products within the European Union.

While the Turkish government gives the owners of companies’ social insurance granted by the Turkish government in the event of the company's closure or loss.

Fifthly: social services

Living in Turkey offers many social and recreational services and facilities such as restaurants, parks, hotels, supermarkets, hospitals, schools, and universities.

Not to mention its moderate weather, beautiful nature, decent standard of living, and good social relations with Arab, Turkish, and other neighbors, especially within modern residential complexes with high-end specifications.

Types of companies in Turkey

1-   Joint stock companies

The capital of the joint-stock company is divided into shares distributed among the shareholders, and the liability of the shareholders is limited to the percentage of their shares from the capital of the company subscribed to in their capacity as shareholding partners. The number of founding partners must be at least 5 legal persons, with a capital of no less than 50,000 Turkish Liras / equivalent to approximately $ 9,000.

2-   Joint venture companies

This type of company is established to operate a business, under a specific trade name, and the liability of all shareholders is limited. With no minimum capital required, all shareholders must be real persons, and shareholders' rights and obligations are defined by the articles of association.

3-   Limited liability companies

The typical type of companies for owners of small and medium enterprises is to establish a limited company, which consists of at least one shareholder, and fifty shareholders at most, and the cost of establishing a company in Turkey of this type is very acceptable, as the minimum capital of this company is 10 thousand Turkish liras / equivalent Less than 2000 USD, and if they are two shareholders, the minimum capital for them should be 12,500 TL.

4-   Companies with special legislation/unlimited liability

The license is issued with special specifications for such companies; because of its different conditions and the different administrative reference entrusted with issuing the company’s license; They include banks, private financial institutions, insurance companies, financial leasing companies, debt collection companies, holding companies, and foreign exchange companies.

Steps for establishing companies in Turkey

First: Preparing the company agreement

Documenting the investors’ signatures, preparing announcements of the signatures of the company’s officials and the company’s articles of association, translating it, and ratifying it by the notary public.

Second: Applying to the Commercial Registry Directorate for registration

Submitting the original copy of the company’s articles of association, in addition to two certified copies thereof, to the Commercial Registry Office within 15 days from the date of authentication and certification by the notary public.

Third: Register the company at the local tax office

The tax certificate is delivered, which is clearly displayed and placed at the workplace. The local tax officer will visit the company's office or shop within a few days to check the mentioned information and the tax certificate according to the instructions of the Turkish Tax Administration.

General data and papers required to establish a company in Turkey

• The address of the company's headquarters.
• Information about directors and partners.
• Company's capital.
• Defining the company's activities (events).
• Issuance of a tax number from the Tax Department.
• Determining the name of the company.
• A copy of the passport.
• Turkish residency.
• A personal photo.

Public papers issued after establishing a company in Turkey

• The commercial register containing the company's information.
• Event Certificate, issued by the Chamber of Commerce based on the commercial registration number.
• The company's tax plate, which contains the company's tax number.
• The company's books are certified by the chartered accountant (financial advisor), who is the employee who links your company with government departments and handles the affairs of communication with them.

Is it possible to establish a company in Turkey from abroad?

Of course, it is possible to establish a company in Turkey from abroad, by appointing a specialized legal party and authorizing them to establish the company.

There are two ways to conduct power of attorney abroad:

The first way: Request an appointment from the Turkish Consulate in your country online and go to the appointment and conduct the agency.

The second way: It concerns only countries that have an “Apostille Agreement” with Turkey, where the client can go to the “Turkish Notary Public” department in his country to request the issuance of the agency, after which the agency is directed to the competent authority, local representative, municipality, etc. to work within the said agreement.

If you have any questions regarding this or any other issue related to investing in Turkey, the Trustus Consulting team will be happy to provide you with the best advice; Contact us now.

Edited by: Trustus Consulting©