Foreign enterprisers who want to open companies in Turkey must register them with the Companies Registrar which has offices in all cities of the country. The company registration process must be completed with the local office of Trade Register where it will operate. This is mandatory for all types of companies in Turkey, whether incorporated by foreign or local investors.
The Turkish Trade Register is administered by the Chamber of Commerce.
The Register keeps an updated situation for each recorded company. Changes in the administrative structure of the company and changes included in the Articles of Association must be submitted to the Register. This is done through an application submitted by the company representative.
If you are interested in finding out information or other details about companies incorporated in Turkey, you have to request them from the Trade Register. The database where you can find all necessary information about a company incorporated in Turkey is available to the public.
There is public information, in the database, about:
- the trade name of the company and the date when it was incorporated;
- information about the registered address of the Turkish company;
- the personal information of the shareholders of the company, such as their names and addresses;
- information about the social capital and the distribution of shares in the company.
In order to search the Trade Register in Istanbul, for example, the individual will need to know some basic information about the company according to which the search can be performed. Company search is available according to the registration number of the company, its NACE code, its name or the industry group.
You can read about the Trade Register in Turkey in the scheme below:
- the registration form issued by the Trade Register which must be duly completed;
- the notarized copies of the articles of association and the company’s bylaws;
- the copies of the incorporation notification form which must be notarized;
- proof that the initial share capital has been deposited in a Turkish bank;
- the document attesting the persons authorized to represent the company (power of attorney);
- the founders’ declaration attesting to the decision of registering the company;
- proof of payment of the registration fee to the Competition Authority;
- recent passport-sized photos of the founders of the company.
These documents are necessary for opening a limited liability company in Turkey. Our Turkish company formation consultants can help with the establishment of a company with the Trade Register.
Steps for incorporating a Turkish company with the Trade Register
The Company Law imposes several regulations and steps which must be completed with the Trade Registrar in Turkey. These regulations apply no matter the type of structure chosen for the company and will imply:
- reserving a company name;
- drafting the company’s documents with a public notary;
- filing the documents with the Trade Register;
- opening a bank account and depositing the share capital;
- filing a bank reference which indicates the deposit of share capital with the Trade Register;
- applying for a tax and VAT number;
- registering with the health insurance and pension authorities.
Our Turkish company formation advisors can offer more information on the steps to be completed when opening a new business.
Fees to be paid when registering a company in Turkey
Foreign investors who open companies in Turkey must consider the following timeline which is respected by the Trade Register when incorporating a business:
the company name reservation is free of charge and can be completed online;
the drafting and notarization of the company’s documents are subject to a free which is established by the notary office;
the registration of a limited liability company is subject to a small fee;
the publication of the company’s Articles of Association with the Official Gazette is also subject to a fee;
the registration of the managers’ signatures will also imply a certain fee.
It should also be noted that the company registration fee will depend on the share capital of the new business.
Searching for a company with the Commercial Register in Turkey
Both individuals and companies are allowed to make inquiries with the Trade Register in Turkey. One can find the following with the Trade Register:
information about all types of companies registered in Turkey: from limited liability companies to sole traders and foundations;
the date of incorporation of these companies and information about their addresses;
information about the industries in which these companies operate in Turkey;
information about the financial statuses of these companies, including if any bankruptcy or insolvency procedures are underway;
information about the managers and directors of companies registered in Turkey.
In order to perform a search with the Turkish Companies Register, one must file a request and pay a fee. It is recommended to ask for support when making such inquiries, as the time frame related to obtaining the information could be reduced.
We also invite you to watch our video on the Company Register in Turkey:
FAQ on company registration in Turkey
Our company registration consultants in Turkey have also tried to answer a few of the most frequently asked questions about registering a company with the Trade Register.
1. How long does it take to register a company with the Turkish Companies Register?
The whole procedure of registering a company can take up to 3 weeks. However, investors must also consider the licensing process, which depends on the industry the company will operate in.
2. Do I need a local director to register a company in Turkey?
No, having a resident director is not a mandatory requirement in Turkey, therefore this position can be assumed by a foreigner based on a work permit.
3. Do I need a local address in Turkey?
Yes, the company must have a registered address in Turkey, however, a virtual office can also be used.
4. How much does it cost to register a company in Turkey?
The company registration costs depend on the type of company to be set up and the share capital of the business.
Call us now at +90 532 351 66 77 to set up an appointment with Cagatay Altunsoy, one of our specialists in company formation in Istanbul, Turkey. Alternatively you can incorporate your company without traveling to Turkey.
As a client of CS Yonetim, you will benefit from:
- 24 hour response time guaranteed;
- cost- efficiency;
- dozens of articles and free information on the Turkish structures.