Just like in countries all over the world, financial technology has become one of the most sought industries to invest in Turkey. One of the most successful segments of the fintech sector is crowd funding through which startups can gather money for their activities. Foreign investors interested in opening a new type of venture are invited to set up a crowd funding platform in Turkey.
If donation-based crowd funding is recognized for some time now, the Turkish authorities have recently worked on a law which covers other types of crowd funding companies. Our company registration consultants in Turkey can offer information on this law.
There are no special requirements when registering a crowd funding company in Turkey. Also, both local and foreign investors are allowed to create crowd funding platforms in this country. Our company formation advisors in Turkey can handle the registration process of the business.
According to the draft law which was issued by the Capital Markets Board (CMB), opening a crowd funding company will imply creating a website through which the projects will be promoted. Also, the website which will be the platform of the company must be acknowledged by the CMB which will issue a license. Also, any shares issued through crowd funding companies in Turkey may not be marketed to the public.
As mentioned earlier, crowd funding through donations was possible since a few years ago and the new legislation aims to create a legal framework for the establishment of other types of crowd funding companies in Turkey. These are:
It should be noted that even if a crowd funding platform will be deemed a financial company, it will not be subject to the same requirements as investment or management companies. Also, Turkish crowd funding companies will not be imposed the same requirements as the stock markets.
If you want to set up a crowd funding business in Turkey and need assistance, do not hesitate to contact our local company formation consultants. You can also rely on us for help with the registration process of the Turkish company.