Turkish LS Company Incorporation
|Company Type||Time to Incorporate||Cost|
Turkey Key points
- Time - only 10 days to incorporate your company
- Cost - a Turkish company will cost £4200
- Directors - only one director of any nationality, is necessary for your company
- Shareholders - Turkish Commercial Code allows limited liability companies to consist of only 1 shareholder
- Share Capital - the Share Capital requirement is €2,500/TL 5,000
- Support - using our 20 years experience we guide you throughout every step of the company formation process
- A four day visit to Turkey will be required by the company director, to sign documents
- 21 free trade zones in Turkey offer a very attractive business climate to companies through tax exemptions
- Registered Office for your company can be provided at our Turkish Office
- There is no restriction placed upon the nationality of the directors or shareholders
Establishing an LS Company in Turkey
Company establishment procedures in Turkey have recently been simplified to a great extent, eliminating unnecessary procedures for both local and foreign investors.
A Private Limited Company - Limitet Þirket - Ltd. Sti. - is the most common form of business entity in Turkey and can be incorporated in 10 days with only 1 director and 1 shareholder.
Company Establishment Procedure
Firstly a company name check is carried out to ensure your chosen name is available for incorporation. We can do this now for you, with no obligation using our company namecheck facility.
The trade name of the company has to be determined in accordance with Article 45 of TCC so as to indicate the business activity of the company.
The presence of foreign words in the trade name of a company may be permitted in cases, where these words do not contradict the law or national, cultural and historical benefits.
Once the company is established legally, the share capital should be transferred to a Bank in Turkey. The capital of the company should be minimum TL 5000 / €2,500. Capital amounts to be put in by shareholders should be TL 25 or multiples thereof.
Directors / Shareholders
In case the director or shareholder is an individual we require:
- Two copies of the passport (translated and certified by notary public)
- The foreign investor should have a Certificate of Good Standing of his company prepared by the relevant authority in the investor’s country.
- This certificate should contain the information about the current active status of the company and its executives signature.
All of your company details can be supplied to us easily via our simple online Company Details Form.
The Articles of Association relating to the company will be prepared and notarised by us.
We will submit the following documents to the Trade Registry Office (Türkiye Ticaret Sicili):
- Articles of Association certified by a Public Notary
- A receipt issued by the bank verifying the payment of capital contribution
- Signature declarations and Notarised copies of passports of founding shareholders
- Photos of founding shareholders
- Notarised copies of board resolution identifying company's founding shareholders
- Rental contract for company office address
Registration to Tax Office
Turkish regulations require an office space for the company. Accordingly you either need to obtain an office lease contract yourself or use our services as stipulated on our fees page. This office address should be registered with the tax office on the same day or before the registration date. A tax registration number is received and legal books are certified by a Public Notary.
The rent contract certified by the Notary Public as well as the notarised Circular of Signatory will be submitted to the related Tax Office.
Two months Accountancy service are included in our service to enable Tax Registration.
Formacompany will carry out:
- Drafting and Notarisation of Certificate of Incorporation (Articles of Association)
- Notarising legal books of the company
- Transfer of Capital by the foreign shareholders
- Registration to Chamber of Commerce Trade Registry
- Notification to the Under Secretariat of Treasury, Foreign Investment General Directorate
- Certificate of Activity to open and run business to be obtained from the relevant Municipality
- Application to the Ministry of Industry and Trade
- Notarisation of the Signature Circular of the Company
- Registration to the Tax Office
The company can start to operate its business upon approval and registration at the Trade Registry. A registration number is issued which is unique for every established company.
|To watch a video on 'How to incorporate your Turkish company' please click here.|