Turkey is one of the world’s countries with exports representing a large portion of its Gross Domestic Product. Most of the goods exported by Turkish companies enter the category of fast-moving consumer goods (FMGC), which is why the government has set in place clear regulations related to this industry. Foreign investors seeking to establish a business in the FMCG industry in Turkey can open all sizes of stores and even trading companies if they intend to export their products.
Our Turkish company formation consultants can offer information on the Code on Regulation of Retail Trade which was enabled in 2015 and which provides for the FMCG sector.
The first law a local or a foreign investor must comply with when setting up a FMCG company in Turkey is the Commercial Code which provides for the types of entities which can be registered and the requirements for the company formation process to be completed.
All Turkish businesses in the FMCG sector must also comply with the regulations imposed by the Competition Authority. These regulations refer to the sale prices and the protection of customers purchasing FMCG products.
Our company registration agents in Turkey can provide information on the regulations enforced by the Competition Authority to retailers of FMCG goods.
If you are planning a company opening, we recommend the services offered by our accountants in Turkey. With the necessary experience, they can take care of the procedures related to bookkeeping, audits, payroll, annual financial statements, debt monitoring, and tax return. Also, our experts can prepare the necessary documents for the registration of the company for the payment of taxes. Moreover, we offer investment consultancy to high-quality foreign investors, so get in touch with us by phone or online.
After the company registration procedure is completed, the Turkish FMCG company must obtain the necessary licenses to start operating. Among these, a retail license is required. Considering most the products constituting the FMCG industry in Turkey are agricultural goods, special licenses for growing and selling these products are required. Also, import and export licenses are necessary in case FMCG goods are destined for trading.
These licenses can be obtained through the new Retail Information System (PERBIS) which also stores information on all Turkish companies in the retail industry, including the FMCG one. The licenses are issued by the Ministry for Customs and Trade in Turkey.
For full information on how to establish a company in the FMCG sector, please contact our company formation representatives in Turkey.