What are the types of companies and the steps for establishing companies in Turkey?

If you want to start a business in Turkey, you will feel the importance of every letter you read in this article.


 What are the documents required to start a company in Turkey?


 Valid passport translated into Turkish and authenticated at Notre's office.


 The tax number, which is extracted within one day of the tax department.


 Security approval to allow the establishment of the company.


 What are the steps needed to form a company in Turkey?




 Phase I: Determination of the company's headquarters in Turkey and the capital


 Locate the company headquarters


 As a condition for establishing a company in Turkey, it requires a headquarters

 That is, the founders already have an office in Turkey or a shop or building as necessary to establish the company in Turkey

 Where the owner of the company rent or buy

 The price of the office or its rent varies depending on the area in which the owners and financiers want to set up their company

 Hiring requires additional costs such as insurance and a real estate office or realtor.


 Details about capital


 The most important aspect of starting a business in Turkey is capital

 Turkish law stipulates that the minimum capital is 10,000 TL, but this amount does not give any additional powers

 Turkish law is treated differently with companies in Turkey according to the value of capital, so it is always advised that the capital should be at least 100,000 TL

 This has additional benefits:


 Obtain a work permit and establish work for the owners and employees of the company


 The possibility of joining the company in Turkey to Turkish trade organizations and associations, such as: TابRSAB


 The possibility of making large contracts and facilitating the importation or export of goods to Turkey



 Note: It is not obligatory for the owners of the company during the establishment of a company in Turkey to deposit capital in a Turkish bank, provided that the amount of the deposit before the application for work permit / residence or within two years from the date of incorporation.


 Phase II: Preparation of the company's incorporation contract in Turkey


 The following shall be required to sign a contract of incorporation in Turkey:


 Chartered accountant


 It is approved by the Turkish state where its responsibility lies in representing the company before the state

 His job is different from that of the company's internal accountant

 At the end of each month, the chartered accountant receives invoices, expenses and purchases of the company and registers them with the Turkish state departments.

 It is noteworthy that the Turkish law considers the presence of a chartered accountant a prerequisite and in the absence of it is considered a violation that may be punished up to the closure of the company

 In addition, the cost of a chartered accountant is at least 400 TL per month, and the amount given to the accountant varies depending on the nature and size of the company.


 Company books


 Are the books that are registered all the accounts of the company in Turkey

 They are handed over to the competent State departments periodically at the end of each year

 The cost of these notebooks annually is only about 1,100 TL.


 After hiring a legal accountant "consultant" of the company, the processing of the books of the company becomes possible to start processing the contract of incorporation of the company in Turkey and move to other stages.


 The third stage: extract the tax number of the company


 The company in Turkey is a legal entity and has a tax number

 Companies in Turkey have quarterly and annual taxes, in addition to rent taxes totaling on average between 1,500 and 3,000 TL.

 After the completion of the incorporation of the company and ratification and completion of all procedures in cooperation with the agent or mediator, go to the Tax Department in order to register the company in Turkey and obtain a tax number for the company

 Thereafter, the company's taxes may be paid periodically at the competent tax departments.


 The fourth stage: opening the bank account of the company


 The importance of the bank account is to deposit the capital in it

 The company obtains a capital deposit from the bank

 After this step, the manager of the company, with the help of the brokerage company responsible for the management of his company's papers, can obtain approval from the Chamber of Commerce in Turkey for the establishment of the company, the completion of the land registry, and any other procedures.

 It is worth mentioning that the full capital can be deposited before the approval of the Turkish Chamber of Commerce to establish the company in Turkey provided that the payment of the capital within 24 months starting from the date of incorporation of the company in Turkey

 Also, the company cannot grant work permits / residences before the capital is fully deposited.


 Fifth Stage: Approval of signing the Memorandum of Association


 After completing all the above procedures, especially obtaining the company's commercial register in Turkey and completing the procedures of the Turkish Chamber of Commerce, the director of the company has the right to approve the signature.

 After this step we can say that the shareholders have become actual owners of the company and has been approved in Turkey.


 Types of companies in Turkey


 The type of company varies depending on its size and responsibilities, so you must know the details about each type to know the right choice when you intend to establish a company in Turkey, the types are:


 Solidarity companies in Turkey


 This type of company is established to operate a particular business and has a trade name


 There is no minimum capital required to establish this type of company


 All people involved in setting up this type of company must be real people


 The statute should include a definition of the rights and obligations of persons contributing to the establishment of companies


 The liability of the shareholders is limited only in securing the agreed and subscribed capital in the Memorandum of Association, which is paid by the shareholders in the establishment of the Company.


 If one person wants to establish a joint venture company in Turkey, he must have a capital of (10,000 TL) ten thousand TL, but if the shareholders are only two people, the minimum capital should be (12500 TL) twelve thousand and five hundred TL Turkish.


 Simple recommendation companies in Turkey


 These companies are established to operate a particular business with a specific commercial name


 Liability is limited to the insurance of the agreed capital paid by shareholders and financiers, but some shareholders, while there are no limits on the liabilities of other shareholders


 Funding is only from legal entities


 No minimum capital is assumed


 To determine the rights and obligations of each person and legal entity contributing through the Company's Articles of Association.


 Joint Stock Companies in Turkey


 In this type of company, the company's capital is divided into several shares


 The liability of shareholders and financiers is limited to the capital agreed upon and paid by them


 These companies are required to have at least five real persons or legal entities


 The minimum capital for the establishment of the company is 50,000 TL


 The company should include: a general assembly, an administrative board, and a supervisory board.


 Limited companies in Turkey


 This type of company is established with the participation of at least one person or legal entity and the maximum number of shareholders allowed is 50 persons or legal entity.


 The responsibility of the persons contributing to the establishment of a limited company in Turkey is limited to securing the capital paid by the shareholders


 Also, if the shareholder is one person, the minimum capital is 10,000 TL, and the two persons are 12500 TL. Limited companies are the ideal model for foreigners


 Most companies established by foreigners in Turkey are of limited validity.



 Final notes on the details of establishing a company in Turkey


 Any foreigner can set up a company in Turkey and be a manager, but after he has obtained a work permit.


 Any foreigner can own all the shares of the company, ie 100% of the shares in his name.


 The articles of association must be prepared in order to establish the company, and ratified by the Noter Office “Notary Public Notary”. The statute shall be accompanied by a statement of the address of the company. The company's articles of association are two certified copies to the Land Registry Office within two weeks from the date of ratification at Notre.


 All company documents must be documented and authenticated at Notre's office on the day of registration, in order to maintain a uniform date for all of them.


 The company's articles of association are publicly published in the Official Gazette of the Turkish Land Registry.


 The Vergi Levhasi tax certificate is usually suspended at the management office or in a clear location in the company.


 One of the tasks of the Real Estate Registry Office in Turkey is to inform the Ministry of Labor and Social Security in Turkey of the establishment of the company, which compels the founder of the company to register all workers in his company, including the directors of the company in the Ministry of Labor.


 Insurance “Securta”: Turkish law requires the founders of companies to register all employees of the company in social and pension insurance, that is, the company should pay the insurance premiums on a regular basis for each employee in the company “managers, employees, accountant and everyone”, and note that there are fines It is imposed in case of late payment of insurance amounts.

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