Business Setup in Turkey
Why Running a Business in Turkey is Attractive for Foreign Investors?
Turkey is an increasingly attractive destination for foreign investors due to its dynamic economy, strategic location, and investor-friendly policies. With one of the fastest-growing economies globally, Turkey serves as a bridge between Europe, Asia, and the Middle East, providing excellent access to regional and international markets. The country’s large and youthful population offers a skilled and cost-effective workforce, while its robust infrastructure supports various industries, from manufacturing to technology and tourism. Additionally, Turkey’s government provides a range of incentives, including tax breaks, R&D subsidies, and support for export-oriented businesses, making it a fertile ground for investment and business expansion.
Types of Companies in Turkey
Foreign investors in Turkey can choose from several types of business structures, each catering to different needs:
Limited Liability Company (LLC): The most common type for small and medium-sized businesses, requiring a minimum of one shareholder and a capital of 10,000 TL.
Joint Stock Company (JSC): Ideal for larger enterprises, with no shareholder limit and a minimum capital requirement of 50,000 TL.
Branch Office: A legal extension of a foreign parent company, useful for businesses aiming to directly operate in Turkey.
Liaison Office: Non-commercial offices focusing on market research and business representation; they cannot engage in direct sales
Steps for Company Registration in Turkey
Setting up a business in Turkey is streamlined, and the process includes the following steps:
1. Decide on the Company Type: Choose the structure that best suits your business goals.
2. Prepare the Articles of Association: Draft and notarize the foundational document of your company.
3. Open a Bank Account: Deposit the minimum capital into a temporary account.
4. Register with the Trade Registry Office: Submit the required documentation, including identification, proof of address, and a notarized company charter.
5. Obtain a Tax Identification Number: Register with the local tax office.
6. Social Security Registration: Enroll employees in Turkey’s social security system.
7. Apply for Licenses (if applicable): Certain industries require additional permits or licenses
Comprehensive Business Setup Solutions by Aveen Capital in Turkey, Reach out to us!