Preparing business in Turkey

When thinking about starting a business in Turkey, there are a number of options available to you, but you should first make sure of some useful legal advice and make private contacts with the relevant parties. Any business name), as well as liaison offices, all of these options can be considered by foreigners but the most popular companies are private companies with limited liability, so we will focus in our conversation on this type of companies.

Companies that foreigners can establish in Turkey

A private limited company can be established by two or more non-Turkish citizens.

Most foreigners tend to establish companies that specialize in tourism and serve the stable and unstable citizens of Turkey. For example, bars, restaurants, hotels and travel companies are leased from real estate agencies, shops, maintenance companies, etc., and are usually easy for foreigners to organize and operate. There are a number of foreign companies that can not be opened in Turkey without the prior approval of the Ministry of Commerce and Industry. Such as banks, currency institutions, private financial institutions, foreign exchange offices, regulated companies, capital markets, public storage and free trade zone operators.

Cost and time required to establish a private limited liability company in Turkey

The laws of establishing companies in Turkey are different from most other countries. A private limited company costs about 10,000 Turkish lira (25% of this amount must be deposited in the company's bank account within three months) and the remaining cost must be paid within three years. After the establishment of the company, managers must register business with the tax, trade and local registration office. The establishment of this company requires less than a day if all the necessary papers are completed to the satisfaction of the commercial register.

Turkish laws on the establishment of a limited liability company and trade names

For foreigners it is necessary to establish a statute even in terms of law and conformity of the law in accordance with article 279 of the Turkish Commercial Code. The document needs to be written and signed by the founding members and the word "limited" is included in the name of the business. Founders need to declare their nationality, full name, titles, addresses and trade address, then formally ratify and translate them when necessary.

The trade name must be unregistered by any company before. It should not contain misleading words, such as republics, since such words can not be used without the explicit consent of the Turkish Council of Ministers. Foreign words and nicknames may be used in the trade name if they do not conflict with any government decision, culture, law or policy.

Registration of the company in the Commercial Registry Office

The Turkish Chamber of Commerce has offices throughout Turkey and in all major cities and most small cities. After you have built your trade union articles and created a formal endorsement, you should contact them within 15 days to arrange the official trade register. After registration, you will need to use the company registration application form, a written request for application, identification of a document that you are a founding member, a commitment in accordance with Article 29 of the Commercial Register Regulations, The company's money). This may seem more difficult than it actually is but to avoid prolonged waiting and unnecessary confusions, we will undoubtedly provide you with sufficient legal knowledge to help, speak, and write in Turkish. In most cases it is best to determine the mother language when you register, you can start your business.