The foreign entrepreneurs, who are ready to set up a company in Turkey and don’t want to go through the whole company registration process, choose to purchase a shelf company. Buying a ready-made company is an alternative for foreign investors in many countries, but the laws in Turkey are a little bit different. A firm must have an economic activity in order to exist, so there are no companies with no activity for years.
Ready-made companies are generally chosen by investors who are in a hurry to start their businesses and who need a firm with longevity on the market. According to the Turkish Company Law, the company director should come to Turkey in order to modify the articles of association and then to prove to the local tax office that the firm is doing business.
In the recent years, many foreign investors have been interested in businesses in Turkey because of the favorable economic environment. Some of them want to buy a shelf company that means that they have to engage in the share transfer procedure for the already registered firm.
Our company formation specialists in Turkey can help foreign investors who want to purchase ready-made companies.
There are no restrictions when it comes to the nationality of those who want to buy shelf companies in Turkey. Considering Turkey is quite open when it comes to foreign investments, entrepreneurs from any country around the world can decide on the way they want to set up a business: by registering a new company or through a shelf company.
If you are interested in opening a company in Turkey and don’t know if a ready-made company is the best option, you can discuss your decision with our local agents.
Ready-made companies are preferred by many investors because:
The purchase of a Turkish shelf company does not imply lengthy procedures, as it can be bought in a matter of days. Our company registration agents in Turkey can help you with the formalities when buying an aged company.
This procedure is simpler and it lasts less than the incorporation of a new company. A legal entity or a natural person can buy a ready-made company based on the certificate of registration for the company that will buy a Turkish firm or the passport of the person signing the agreement for the share transfer, at the office of a public notary.
After the new shareholder takes over the company, he can make any changes, after he notifies the Trade Register from Turkey. The new board of directors, company management and address will also be registered with the Trade Registry. The new shareholder can add other objects of activity and can make other changes too regarding the bank representatives or other activities of the firm.
The purchase of a shelf company in Turkey is based on a contract signed between the company selling such structures and the foreign investor. The document needs to be signed by both parties; however, due diligence is important before signing any document. Then, the transfer of shares needs to be completed and the changes must be notified with the Turkish Companies Registrar.
We can help with company due diligence services, no matter if you are interested in buying a shelf company or entering a partnership with a Turkish company.
Our company registration advisors in Turkey can offer assistance when making changes in a company.
As mentioned above, most shelf companies take the form of private companies in Turkey. These business forms allow foreign investors to be the sole shareholders in the company, however, they can also act as directors of the company. Also, their responsibility will be limited to the amount of money they injected in the company. It is also good to know that the share capital of a shelf company can be altered based on the needs of the shareholder.
We can help you open a company in Turkey, no matter if you want to register it from scratch or by purchasing a ready-made one.
Before purchasing the shelf company, the investor should be very careful about the history of that firm and problems in the past, such as debts or legal issues.
The main advantage of buying a ready-made company is that it can be used for signing an important contract or close an urgent deal. You can change the name of the shelf company.
Turkish shelf companies already have registered addresses and VAT numbers which makes them fully operational from the first day of the acquisition. This helps investors spare a lot of time otherwise spent with the tax authorities. The ready-made company is also suitable for those seeking to incorporate the history of a foreign company and thus helping them to improve relations with business partners and customer, and also to attract other clients or partners.
The purchase of a ready-made company is Turkey can take a few days, considering the share transfer which must be made.
The cost of a shelf company depends on its age and the activities it has undertaken.
The procedure of starting a business in Turkey through any of the options depends on the hurry the investor is in. Our company formation agents in Turkey can help you make a decision.
Yes, there are no restrictions on the persons or companies seeking to buy ready-made companies in Turkey.
Yes, the shelf company can be used as subsidiary company by a foreign entity interested in entering the Turkish market.
Turkey is by far one of the most appreciated investment destinations in both Europe and Asia because its geographical location allows entrepreneurs to operate on both continents.
According to various Focus Economics, Turkey’s economy:
If you need assistance during the whole procedure of buying a shelf company or you want to set up a company in Turkey, you can contact our local representatives who will offer you more information and guide you through the procedure.
We invite you to watch a short video about buying a shelf company in Turkey: