Step by Step Guide – LS Incorporation
Turkey Key Points
- Time – 10 days to incorporate your company
- 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
Choose a Company Name
The company name must be indicative of the business activity to be carried out by the company.
Since the trade names of legal entities are protected in Turkey, we will investigate whether your company name is available for incorporation. You can inform us of your proposed company name using our company namecheck.
Foreign words in the company name are permitted in cases where these words do not contradict any law, national, cultural and historical benefits or there are foreign shareholder/s in the company.
A company can be established using 100 percent foreign capital. The minimum capital of the company should equal YTL 5000 / €2,500. Capital amounts to be put in by shareholders should total at least YTL 25 or multiples of this amount thereof.
Upon incorporation 1/4 of the cash capital should be fully paid. The remaining portion may be paid up within three years of incorporation.
Your Turkish company can be incorporated irrespective of your nationality or place of residence. Directors can be foreigners since there is no obligation that managers or directors should be Turkish citizens. All foreign investment based companies have the same rights and obligations as local Turkish companies.
A Turkish company requires only 1 shareholder who may be of any nationality.
Select a Registered Office
It is a requirement that your company has a Registered Office address in Turkey. Formacompany will supply this service. Please see additional services in the Company Formation Fees page.
Passport copies of company directors and shareholders are required along with notarised signatures of persons authorised to represent the company. Both items can be uploaded to us here.
Once you have decided upon all the above information, please submit your company details to us via the simple online company details form.
We will then proceed to incorporate your company, a service which includes:
- Petition and Form
- Letter of Commitment – must be signed by authorised persons.
- Bank receipt confirming capital has been
- Drafting and notarisation of Articles of Association (one original and two copies)
- Principal Statutes Notarial fees
- Registration fee of Chamber of Commerce
- Government fee
- Consumer fund (0.4%)
- Accountancy Fee
- Certification of the Company Commercial Books approval (Journal, Ledger, Case book, Inventory book)
- Signature declarations of company managers
- Registration of the company at the Trade Registry and its announcement in the Commercial Registration Gazette
- Certificate of Incorporation
- Company Statutes
- Leather binder with all documents and certificates
- Delivery of documents by FedEx / DHL courier
Once we have your documents and carried out the steps detailed above, an announcement in the Turkish Trade Gazette will ensure your company has become a legal entity.
Registration to Tax Office
Please note that corporate entities require an office address to 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 should be submitted to the related Tax Office.