July 31, 2023

It is sufficient to compile the necessary information and paperwork for the establishment of a corporation in Turkey. After the documents and information are completed, registration procedures begin at the trade registry office, chamber of commerce, notary, tax office, and social security institution. All incorporation procedures are completed in 5 business days or less.

-Information required for the establishment of the company;

Title

Shareholders

Fields of Activity

Capital Amount

Address

Shareholders’ Share Ratios

Company’s Signatory

-Documents required for the establishment of the company

Shareholders’ Residence Addresses

Shareholders ‘s Passport/Biometric Photo

Photocopies of Shareholders’ Identity Cards

Workplace Lease

Power of Attorney for Establishment

Following the establishment of the business, the signature circular is obtained from the notary, and the other establishment documents are sent to the company partners and the signing authority. At this point, the company’s director or the signatory authorized board member(s) move on to the stage of opening a bank account. There could be more than one me account in the company. For tax payments, a bank account in one of the public banks must be opened. A bank account in one or more of the private banks can also be opened.

After the application to the tax office, which is one of the stages of the opening application of the company, a visit is made by the tax office polling officer to the address where the workplace is located and the opening attendance slip is kept. Then, the tax office registration becomes active.

Company establishment/opening procedures are generally carried out by financial advisors and financial consultancy firms.

At the stage of establishment of the company, the legal books are given by the trade registry directorate. Those who wish can create a transition request to e-Ledger simultaneously. Those who switch to e-Ledger, they do not keep the general journal and the general ledger in paper environment. Shareholders’ Shares, General Assembly Meeting and Negotiation Book, Board of Directors Decision Book, Board of Directors Decision Book (CRA) are kept in paper environment.

Although it is not included in the scope of obligation at the beginning of the work, it can be preferred to obtain e-Invoice, e-Archive Invoice and e-Waybill applications in terms of facilitating transactions. For this purpose, a financial seal should be obtained from TÜBİTAK and then the activation process should be done through the Revenue Administration. Once the registration process is complete, companies can now issue electronic invoices.

In addition to the above information and documents, extra information and documents are required for companies with foreign shareholders.


Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither Karen Audit nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.