Company Establishment in Turkey
The process of the company establishment in Turkey can be done in a few key steps. Our Turkish Company Lawyers have advanced expertise in establishing a company such as a joint stock company, limited liability company, free zone company, branch office, and liaison office in Turkey.
Over the years, we have successfully assisted clients from Asia, America, Africa, and Europe, in launching their businesses in Turkey and seamlessly transitioning to the country. With extensive experience in the field, we are well-equipped to cater to the diverse needs of our clients.
To date, we have helped over 90 foreign clients from various countries, such as UAE, UK, USA, Russia, Jordan, S. Korea, Hong Kong, China, Ukraine, Lebanon, France, Germany, Italy, Pakistan, Malaysia, Iran, Canada, and Saudi Arabia, for company establishment in Turkey.
Through the custom broker agencies that we are working with for a long time, many of our clients utilize for importing, exporting, and transiting goods to other countries. In addition, we provide accountant and company address services for foreign companies at very reasonable rates.
The most common company type in Turkey is a Limited Liability Company. Our Turkish Trade Lawyers commence the process through your PoA. The company establishment process generally takes 1-2 days depending on the availability of the institution appointments. If the partner can attend the procedure in person, the process may be finalized faster and cost less.
How to Establish a Company in Turkey?
According to the Turkish Commercial Code the minimum required capital for a limited liability company in Turkey is 10,000 TL and it can be paid in installments within two years. The company’s capital can be in the form of cash, assets, or a combination of both.
We can also establish your company remotely, in that case, we need a new PoA that is issued with your signature circular to open a bank account for your company after company establishment.
Steps of Company Establishment in Turkey
- Identify the partners: The partner(s) can be a Turkish or foreign individual or legal entity, and foreigners can own 100% of a company. If the legal entity will be the shareholder, there are additional documents to be provided.
- Determine the capital: The minimum required capital for a limited liability company is 10,000 TL. The capital of the company must be paid in two years.
- Create an online membership to the Central Registry System (MERSIS): The person establishing the company or their authorized representative commences the process by creating a free online membership to MERSIS.
- Obtain a tax number: For foreign investors to be identified as partners or authorized persons, they must obtain a tax number from the tax office and register with MERSIS by applying to the trade registry directorate.
- Register the company: The potential tax number of the company is determined automatically by MERSIS, and the company can be registered by applying to the trade registry directorate.
- 1. Determine and reserve the company title
- 2. Getting the partner’s passport translated and notarized
- 3. Getting the partner’s PoA translated and notarized
- 4. Getting a Tax ID for the partner
- 5. Registering the partner details at the MERSIS
- 6. Preparing Article of Association/Incorporation
- 7. Filing company Articles of Incorporation online and getting it approved
- 8. Submitting the necessary documents and paying official company registration fees and taxes
- 9. Obtaining a company registration certificate from the Istanbul Chamber of Commerce
- 10. Preparing the signature circular notarized at a Notary Public
- 11. Signing a rental agreement for the company's address
- 12. Signing Power of Attorney to an accountant on behalf of the company
- 13. Opening a company bank account
Bank Account for Your Company
We can open bank accounts and get online banking for your company after establishment. You can also get a debit card for you and for your company and use it worldwide.
The below documents are required for the company bank account:
- Company's articles of incorporation. (AoI)
- Directors’ passport and address showing documents, such as a utility bills, residence cards
- Turkish tax id number for each shareholder
- Signature circular of the company.
- Company tax id.
- Company stamp.
Recently, bank account openings for non-resident companies in Turkey is demand. We are able to assist you in opening company bank accounts.
Our services are designed to ensure that our clients comply with all relevant regulations
and requirements, and we have a proven track record of helping both local and international
businesses to establish a presence in Turkey. Whether you are starting a new company or
looking to expand your existing business, our team is here to help you achieve your goals.
Contact us today to learn more about our Turkish company establishment service