Mainland Business Setup in TURKEY
First of all need to decide the type of business (limited liability companies, joint stock companies, commodities companies, collective companies or commercial partnerships), 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 10,000 TRY, while the joint stock company must deposit at least 50,000 TRY. 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.
How to register a mainland business in Turkey
Foreign enterprisers who want to open businesses in Turkey are required to complete a few steps before starting operating. These steps consist of:
- choosing the type of company they want to establish and have the incorporation documents drafted and notarized in accordance with the Companies Law;
- open the corporate bank account and deposit the share capital required by the law;
- appoint the company’s directors or managers, as prescribed by the legislation;
- submit the incorporation documents and the details of the shareholders and managers with the Trade Register;
- Obtain the tax and VAT numbers, as well as registering for social security purposes with the tax office.
Our Expert Team can assist with the process of opening a business here. Our Team & lawyers invite you to watch a video about the company incorporation process in Turkey:
The trade name and legal address when opening a company in Turkey
The first step for registering a business in Turkey is finding a suitable trade name for the business. The name must be unique and must not be offensive. In order to make the company name is unique, the applicant can file for validation 3 different names, out of which he or she will choose the appropriate one based on the company’s requirements. We remind investors that branch offices need to bear the same name as the parent company. Another important requisite for the company to be considered a Turkish resident business is for it to have a local address. The registered address must be in the city where the company will operate. For this purpose, we can help with virtual office services.