{"id":12475,"date":"2024-09-20T06:07:50","date_gmt":"2024-09-20T03:07:50","guid":{"rendered":"https:\/\/stayinvestment.com\/strong-guarantees-strong-and-security\/"},"modified":"2024-09-21T08:39:54","modified_gmt":"2024-09-21T05:39:54","slug":"open_a_company_in_turkey","status":"publish","type":"page","link":"https:\/\/stayinvestment.com\/en\/open_a_company_in_turkey\/","title":{"rendered":"<strong>How to Start a Company in Turkey: <\/strong>Step-by-Step Guide"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">According to Law No. 4875 on &#8220;Direct Foreign Investments&#8221;, the rights of entrepreneurs, whether citizens or foreigners, are the same. Foreign investors can establish any type of company included in the Turkish Commercial Code 6102.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, there are some types of business activities that are not available to foreigners for starting a business in Turkey:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Dentistry<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Veterinary medicine<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Legal practice<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Notary services<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Private security services<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Maritime and tourism activities<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Many business activities require licensing, such as real estate or beauty salons.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">You can open a business without a Turkish partner. For a partnership, it is enough for a Turkish citizen to hold at least 1% of the shares.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If you plan to work in your own company and manage it, you will need to obtain a work permit.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Your company must employ at least 5 Turkish citizens with minimum wage salaries and health insurance.<\/span><\/p>\n<h3><b>Free Economic Zones (FEZs)<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Free Economic Zones (FEZs) in Turkey are located in Adana, Antalya, Izmir, Mardin, Mersin, Istanbul, Trabzon, and Erzurum.<\/span><\/p>\n<p><b>Advantages of doing business in FEZs<\/b><span style=\"font-weight: 400;\">:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Transportation accessibility<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Ability to supply goods both to the domestic and international markets<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Exemption from customs duties<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Exemption from VAT, consumption tax, and payroll taxes<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Unlimited time for storing goods in warehouses<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Ability to conduct various transactions with production facilities (e.g., sale, donation) by individuals<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Low land rent<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Reduced electricity tariffs<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">No currency restrictions and free movement of funds outside the country<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">No restrictions on investments in enterprises<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">To open a company in a FEZ in Turkey, a business license from the General Directorate of Foreign Trade is required.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">You can open a company in any city, not necessarily in a FEZ.<\/span><\/p>\n<h3><b>How to Open a Business in Turkey \u2014 Step-by-Step Guide<\/b><\/h3>\n<ul class=\"control-list\">\n<li> <b>STEP 1. Choose the type of company<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">The main company types in Turkey are:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Sole Proprietorship (\u015fah\u0131s \u015firketi)<\/b><span style=\"font-weight: 400;\"> \u2014 Available to those who have lived in Turkey with a residence permit for 5 years or more. Taxes: 15%-40%.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">95% of foreign companies in Turkey are:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>LLC (limited \u015firketi)<\/b><span style=\"font-weight: 400;\"> \u2014 Limited liability companies where capital is divided into shares, and shareholders are liable for company debts with their assets. An <\/span><b>LLC<\/b><span style=\"font-weight: 400;\"> can have one founder, and the number of partners cannot exceed 50 (individuals or legal entities). The company can be managed by a foreigner. Minimum capital is 10,000 TL. Corporate tax on profits is 23%.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>JSC (anonim \u015firketi)<\/b><span style=\"font-weight: 400;\"> \u2014 Joint-stock companies where capital is divided into shares, and the corporate entity is responsible for debts only with its assets, while shareholders are liable only for the capital shares they hold. The company can be managed by foreigners. Minimum capital is 50,000 TL. Corporate tax on profits is 23%.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Foreigners can also register subsidiaries, LLCs, JSCs, branches (which can conduct commercial activities), and representative offices (which cannot conduct commercial activities).<\/span><\/li>\n<li>\n<h4><b>STEP 2. Find an accountant<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">Every registered company in Turkey is required to have a licensed accountant for bookkeeping and filing tax returns. The accountant also plays a crucial role in setting up the company. You can either hire an in-house accountant or outsource these services.<\/span><\/li>\n<li>\n<h4><b>STEP 3. Obtain a tax number<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">Founders must obtain a Turkish tax number from the tax office.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">How to get a tax number: On the Turkish Tax Service\u2019s online portal \u0130nteraktif Vergi Dairesi<\/span><a href=\"https:\/\/dijital.gib.gov.tr\/\"> <span style=\"font-weight: 400;\">https:\/\/dijital.gib.gov.tr\/<\/span><\/a><span style=\"font-weight: 400;\">, submit documents and generate a request for a personal tax number. The code is issued in PDF format.<\/span><\/li>\n<li>\n<h4><b>STEP 4. Prepare documents<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">The complete list of required documents can be obtained from a lawyer or accountant. The basic package for registering a company in Turkey includes:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Passport with an apostille and a notarized translation into Turkish (original and 2 copies).<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">ID photos of founders and directors.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Signature samples of founders (2 copies).<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Company incorporation documents (articles of association), notarized.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Turkish tax number.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Official address of the company (physical office or virtual address).<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Documents need to be apostilled, and a notarized translation is required.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If the founder is a legal entity, additional documents such as an extract from the commercial register, a resolution of the general meeting of founders to open a subsidiary in Turkey, and a power of attorney for the authorized representative are required.<\/span><\/li>\n<li>\n<h4><b>STEP 5. Register in MERS\u0130S and the Regional Chamber of Commerce<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">Next, you will need to prepare the incorporation documents and apply for registration in the Central Registration System (MERS\u0130S) at mersis.ticaret.gov.tr. You will need your tax number. Forms must be filled out in Turkish. A preliminary tax number will be assigned, which will be required to deposit the charter capital.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Signatures of those authorized to represent the company must be certified by a competent authority. For this, signature declarations are prepared at any trade registry.<\/span><\/li>\n<li>\n<h4><b>STEP 6. Open a bank account<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">The bank will require incorporation documents, a certificate of company registration from the Chamber of Commerce, a copy of the tax number, proof of the official address, and other documents depending on the bank.<\/span><\/li>\n<li>\n<h4><b>STEP 7. Deposit the minimum capital<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">Capital can be deposited in parts, but 25% must be paid before the registration is completed. You must also obtain a receipt for depositing 0.04% of the charter capital into the account of the Competition Authority (Rekabet Kurulu).<\/span><\/li>\n<li>\n<h4><b>STEP 8. Register the company with the tax office<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">After registration with the Chamber of Commerce, the company must be registered with the tax office to obtain a tax ID for the business. The accountant handles this process.<\/span><\/li>\n<li>\n<h4><b>STEP 9. Register employees<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">All company employees must be registered in Turkey&#8217;s social security system.<\/span><\/li>\n<li>\n<h4><b>STEP 10. Legalize your stay in Turkey<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">You will need to apply for a residence permit and health insurance.<\/span><\/li>\n<\/ul>\n<h2><span style=\"font-weight: 400;\">Conclusions<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">It is not difficult for a foreigner to open a company in Turkey. It does not take much time and involves minimal bureaucracy.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, there are some differences between opening a company as a foreigner and as a Turkish citizen, such as the need for a work visa and restrictions in certain business sectors. If you plan to do business in Turkey, it is advisable to obtain citizenship through a simplified process by investing in real estate from $400,000. This can become a profitable asset or a residence in the country. The property can be sold three years after receiving the passport. The property must not have been previously owned by a foreigner if applying for citizenship.<\/span><\/p>\n<p><b>Stay Investment<\/b><span style=\"font-weight: 400;\"> is pleased to offer the following to our clients:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Citizenship registration with a down payment of 50% of the property value in some of our projects (the remaining amount is in interest-free installments).<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Package offers of multiple properties that align with your goals and investment plans.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Property options eligible for residency permits.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Feel free to contact us if you are planning to relocate or start a business in Turkey.<\/span><\/p>\n<h3><b>Can Foreigners Buy a Ready-Made Business in Turkey?<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">This option is available to foreigners. The advantages of buying an existing company include:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Official registration<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Client base, premises, reputation, and workforce<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Tax history<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">You can request an independent audit of the company before purchasing.<\/span><\/p>\n<h3><b>How does the process of buying an existing business in Turkey work for foreigners?<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Buyer and seller sign a notarized agreement to purchase a business, specifying the buyer and seller\u2019s details, the subject of the sale, and the deal amount. The new owner\u2019s details are added to the company\u2019s founding documents, which are registered in the Chamber of Commerce.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Stay Investment offers<\/span><b> a portfolio of ready-made businesses in Turkey <\/b><span style=\"font-weight: 400;\">for sale, including hotels, beauty salons, and franchises. Our specialists will help you select a business and provide full transaction support.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>According to Law No. 4875 on &#8220;Direct Foreign Investments&#8221;, the rights of entrepreneurs, whether citizens or foreigners, are the same. Foreign investors can establish any type of company included in the Turkish Commercial Code 6102. However, there are some types of business activities that are not available to foreigners for starting a business in Turkey: [&hellip;]<\/p>\n","protected":false},"author":11,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"page-templates\/open_business.php","meta":{"footnotes":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>How to Start a Company in Turkey: Step-by-Step Guide - Stay Investment<\/title>\n<meta name=\"description\" content=\"Stay Investment company provides investors with strong guarantees of protection and return on investments \u2713 Notarization of the investment agreement \u2713 Guaranteed profit of up to 30% in 18-24 months\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/stayinvestment.com\/en\/open_a_company_in_turkey\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How to Start a Company in Turkey: Step-by-Step Guide - 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