Real Estate in Turkey Establishing a Company in Turkey

Establishing a Company in Turkey
Most of the entrepreneurs and owners of small and medium enterprises (SMEs) prefer to
establish a limited company Ltd. However, you can set up your company according to any type
you want to be that joint venture (JV), joint stock, or any other type of well-known companies.
In this article, we are going to discover together the steps of establishing a limited company in
Turkey, where the minimum capital of the company shall be around 12,000 Turkish Lira that is
equivalent to $ 5000.
One person or one legal party is enough to establish a limited company in Turkey. Moreover,
this company can be managed by foreigners, yet, they need to get a work permit. The
percentage of ownership in the company for foreigners can be 100%.
Establishing a company: Imtilak real estate always recommend enlisting a lawyer, who shall be
fluent in English or Arabic, to conduct transactions and official papers. We also advise recruiting
a trustworthy accountant to do the financial work in the company you are establishing. Usually,
you can establish a company in Turkey within one week.
Identification documents required to set up a company in Turkey:
1. A copy of the passport translated into the Turkish language and certified by a notary.
2. The tax number (vergi numarası), which you can get easily from the nearest tax center in
your area.
Steps to set up a company:
1. Preparing the documents and forms required, and certificating the company's articles of
association by a notary.
2. Depositing 25% of the capital value in the bank.
3. Registering the company in the Commercial Register Office and the Chamber of
Commerce Office.
4. Providing the original version as well as two certificated copies of the company's articles
of association to the Commercial Register Office within 15 days from the date of
authentication and certification by the notary.
5. For limited companies, they must be compatible with article no.279 of the Turkish
Commercial Code.
The company name must be mentioned explicitly and clearly in the Articles of Association. Also,
please be aware that the company's articles of association will be publicly published in the
official newspaper of the Commercial Register.
Once the company is listed in the Commercial Register Office, it must be registered in the Local
Tax Office where the tax certificate is issued, which must be displayed and put clearly in the
workplace.