Turkey is one of the most advanced economies in the world with its Gross Domestic Product relying heavily on the trade relations the country has with the European Union. Even if Turkey is known for producing and exporting most of its agricultural products to Europe, there are also other industries performing quite well at this moment. Among them are the transportation and the financial sector. Speaking of the financial industry, most foreign investors incline to set up investment funds in Turkey, however blockchain and the sale of cryptocurrency is also gaining popularity among young entrepreneurs.
Our company formation consultants in Turkey can offer detailed information on how to set up a business in the financial sector.
The term cryptocurrency is rather new, as it has entered international financial markets in the past few years. Also, the legality of selling or using cryptocurrency is regulated by each country. In Turkey, the use of cryptocurrencies falls under the supervision of the National Bank. However, it should be noted that Turkey does not consider cryptocurrencies as forms of payment, even if their use is legal.
Opening a cryptocurrency company in Turkey is not subject to any special requirements, however the requirements imposed by the Commercial Law must be complied with upon the registration of the business with the Trade Register. Our Turkish company formation agents can help those interested in setting up a cryptocurrency business with the preparation of the paperwork related to the registration of the company.
At the moment, the number of cryptocurrency companies is not that high in Turkey which is what makes the country very attractive for those who want to start this type of financial venture here. It should be noted that the sale and purchase of cryptocurrency here can only be completed through bank transfers which must be supervised by the Turkish National Bank.
Also, Turkish e-commerce companies have the possibility of including the use of virtual money for their clients.
For assistance in registering a cryptocurrency business in Turkey, do not hesitate to contact our local company registration representatives.