Turkey boasts a developed and well-regulated financial industry
which why large foreign investors are interested in starting this type of ventures here. Considering that a large portion of the financial industry
is dominated by investment funds which trade various financial instruments, it was necessary for Turkey
to keep up with the latest developments related to these instruments: the trade of digital currency
Digital money or cryptocurrency is part of the new fintech industry which is regulated since 2014 in Turkey. Fintech is an emerging industry all over the world and it is a combination between the financial and the innovation sectors.
Requirements to open a fintech company in Turkey
Investors who want to open a fintech company in Turkey
must comply with the specific law which was issued by the Banking Regulation and Supervision Agency and which provides for the use of electronic financial services
. The same law provides for the share capital
a Turkish fintech company
must have in order to start operating.
- payment and e-payment companies which require a minimum share capital of 2,000,000 Turkish liras;
- companies issuing e-money which require a capital of 5,000,000 Turkish liras;
- companies providing electronic bill payment systems and which need a minimum capital of 1,000,000 Turkish liras.
If you want to register a company and get ready with all aspects related to accounting, you can collaborate with our firm. We can offer you, among other things, payroll in Turkey, with the help of which you can pay salaries in the company. The calculation and distribution of salaries in the employees' accounts are done according to a series of procedures and formalities that must be respected. But with the help of our experts, you will be able to better understand what this entails. Contact us, therefore, whenever you want, and discover our services.
The fintech industry in Turkey
If in 2014 when the legislation providing for the opening of fintech companies
the number of Turkish companies
was 200, two years later their number has increased spectacularly. During the same period, the fintech market
registered a significant growth of 175%, investments in this sector reaching 29 million USD. A large share of these investments was attracted by Turkish startups. In 2017, the Turkish fintech industry
is expected to reach a new high, according to Deloitte, one of the large financial companies in the world.
If you are interested in starting a fintech business in Turkey
and need assistance, do not hesitate to contact us