February 28, 2022 – Monday
Limited Company Establishment in Turkey
Before establishing a company in Turkey, it is important to learn the characteristics of company types. The most preferred company types in Turkey are limited liability and joint stock companies. Determining which type of company is suitable for the foreign investor’s business plan should be the first step. To determine this, you need to explain your investment plan to your financial advisor (CPA) in Turkey. According to the information he will receive from you, your consultant will tell you which type of company is the most suitable, with reasons.
After the company type is given, the necessary information and documents should be prepared. The information required for a limited liability company to be established in Turkey is as follows
-Title of the Company
-Partners
-Share ratios of partners
-Capital
-Activity topics
-The director or directors of the company
-Address
After the above-mentioned information has been prepared, the following documents should be prepared for the establishment of a limited company.
-Passport translation of foreign real person partners
– Apostilled registration of foreign legal entity partners, Board of directors decision
– Power of attorney for establishment
In addition to the option for company partners to come to Turkey and carry out the transactions in person for company establishment, it is also possible to establish a company without coming to Turkey with a power of attorney issued from the country they are in.
After the documents are prepared, an application must be made to the trade registry office, which gives the establishment permission in Turkey. The establishment of the company is subject to certain procedures. After these procedures are completed, the approved documents regarding the establishment of the company are obtained from the relevant registration institutions and delivered to the director of the company’s partners.
After the establishment of the limited company, a bank account is opened in the name of the company. Transactions belonging to the company are made from the bank account of the company, with some exceptions.
In order for the company to use credit with banks, it must work with the bank for a certain period of time and use some banking products. It takes between 6 and 12 months to build a credibility for the company.
All transactions in banks in Turkey can be done through internet banking.
A limited company to be established in Turkey must have at least one shareholder. The maximum number of partners can be 50 people. All shareholders of the limited company can be foreign nationals. There is no obligation to be a Turkish national partner.
The capital of the limited company must be at least 10 thousand TL.
There is no upper limit on capital. The capital is deposited into the company’s bank account and from there it is spent for the company’s needs.
Limited company must have at least one director. More than one manager can be selected. The authority of the directors can be given for a certain period of time or it can be given indefinitely.
Limited company must have an address in Turkey. The company address must be a physical address. If desired, this service can also be obtained from address display companies.
The establishment of the company is completed in about 3 days.
You can write to us or call us to get detailed information about company establishment in Turkey.
info@karenaudit.com
090 538 595 69 44
Ali KARAKUŞ
CPA and Independent Auditor
Since 1995
