Company Setup in Turkiye : Requirements and Procedure
Company formation in Turkey involves several steps and considerations. Here’s a brief overview:
1.Choose Your Company Type
Decide on the type of company you want to establish. Common options include Limited Liability Company (LLC), Joint Stock Company (JSC), and Branch Office.
2.Determine Your Business Activities
Clearly define the activities your company will engage in. Some activities may require special permits or licenses.
3.Reserve Your Company Name
Choose a unique name for your company and check its availability with the Turkish Trade Registry Gazette.
4. Draft Articles of Association
Prepare the articles of association for your company, outlining its structure, management, and operations.
5. Appoint Directors or Managers
Appoint directors or managers who will be responsible for the day-to-day operations of the company.
6.Open a Bank Account
Open a corporate bank account in Turkey. This will be necessary for depositing the required share capital.
7. Notarize Documents
Notarize the articles of association and other necessary documents at a notary public in Turkey.
8. Obtain Tax Identification Number
Apply for a tax identification number for your company from the tax office (Vergi Dairesi).
9. Register with the Trade Registry
Submit your company documents to the relevant Trade Registry Office (Ticaret Sicil Müdürlüğü) and complete the registration process.
10. Obtain Necessary Permits and Licenses
Depending on your business activities, you may need to obtain additional permits or licenses from relevant authorities.
11. Register with Social Security Institution
Register your employees with the Social Security Institution (Sosyal Güvenlik Kurumu) if you plan to hire staff.
12.Comply with Tax Obligations
Ensure compliance with tax obligations, including corporate income tax, value-added tax (VAT), and withholding tax.
13. Maintain Corporate Compliance
Stay up-to-date with legal and regulatory requirements for corporate governance, reporting, and compliance.
14. Consider Professional Assistance
Consider hiring a local lawyer or consulting firm to guide you through the company setup process and ensure compliance with Turkish laws and regulations.
Professional Support
Keep in mind that the specific requirements and procedures may vary depending on the type of company you wish to establish and your business activities.
Company formation in Turkey – It’s essential to conduct thorough research and seek professional advice to navigate the company setup process in Turkey successfully. Contact us !
