The Process of Foreign Investors Opening a Company or Business in Turkey

The process of establishing a company in Turkey for foreign investors and the tax and legal aspects of this process are determined based on various types of businesses and conditions. This process requires foreign investors to follow certain steps to fulfill their desire to do business in Turkey.

1. Choosing Company Type: Determine the most suitable company type for your business, considering factors such as liabilities, capital requirements, and management structure.

2. Reservation of Company Name: Check the availability of your desired company name and reserve it with the Trade Registry Office.

3. Drafting Articles of Association: Prepare Articles of Association detailing company structure, objectives, shareholders' rights, etc.

4. Notarizing Documents: Notarize the Articles of Association and other required documents (such as passport copies of shareholders and directors).

5. Opening Bank Account: Deposit the minimum capital required for your chosen company type into a Turkish bank account and obtain a bank deposit certificate.

6. Applying to Trade Registry: Submit your notarized documents, bank deposit certificate, and other necessary paperwork to the Trade Registry Office for company registration.

7. Obtaining Tax Identification Number: Obtain a tax identification number (Vergi Kimlik Numarası) for the company and its shareholders.

8. Registering for Social Security: Register the company and its employees for social security with the Social Security Institution (SGK).

9. Obtaining Work Permits (if applicable): Foreign shareholders and employees may need work permits from the Ministry of Labor and Social Security.

10. Registering with Tax Office: Register the company with the local tax office (Vergi Dairesi) and obtain a tax registration certificate.

11. Complying with Regulatory Requirements: Ensure compliance with other regulatory requirements specific to your business activities, such as obtaining licenses or permits.

Foreign Investors Opening a Company or Business in Turkey

The process of establishing a company in Turkey for foreign investors involves a complex set of steps that need to be followed diligently. During this process, investors need to select the appropriate company type, prepare the necessary documents, comply with local legal requirements, and fulfill tax obligations. Turkey supports the business environment for foreign investors by offering various incentives and adhering to international standards. However, it's crucial for foreign investors to seek assistance from a legal and tax expert during this process. CCS Law provides professional support for navigating these legal complexities and ensuring compliance with Turkish laws and regulations. You can contact us for more information and consultation.