1. What are the types of companies that can be incorporated in Turkey?
The joint stock company, the limited liability company
, the collective and commandite companies, the cooperative or the branch are all options for a legal entity in Turkey.
2. Can a foreigner open a company in Turkey?
Yes. Foreigners have equal rights to open companies, just as nationals. Turkey welcomes foreign investments
in various business fields.
3. How fast can you start a new business in Turkey?
A business can be incorporated in one week if all the documents are in order.
4. Does the company need to have an office in Turkey?
5. What are the steps for company incorporation in Turkey?
The business owner must draw up and submit the Articles of Association, notarize the company documents, deposit the minimum share capital and apply for registration at the Trade Registry Office.
6. What is the minimum share capital in Turkey?
The minimum share capital
depends on the type of company. This amount is larger for joint stock companies than for limited liability companies: 50,000 TRY as opposed to 10,000 TRY.
7. What are the requirements for opening a bank account in Turkey?
The bank account is mandatory for the company because the share capital is deposited upon incorporation. Banks will generally request the registration certificate of the company and other documents attesting the identity of the founding members. Certain fees apply, as per the bank’s policy.
8. Do you need special permits and licenses in Turkey?
Yes. For example, import and export activities are regulated and business owners engage in this activity based on certain permits obtained before starting the actual trading.
9. What are the taxes for companies in Turkey?
The corporate tax in Turkey is 20% but lower rates can apply. A payroll tax, real property tax, social security tax and other taxes also apply.
10. What are the reasons to invest in Turkey?
A good location
between two important markets, its own large domestic market, good economy
, an open investment climate
and god infrastructure are good reasons why investors should choose to open a company in Turkey