Real Estate in Turkey Establishing a Company in Turkey | Page 2

An employee of the local tax shall visit your office or store in a few days to verify the
information mentioned and the tax certificate.
The Commercial Registration Office shall notify the Ministry of Labor and Social Security about
the establishment of your company, therefore, all the workers and employees, including the
managers, of the company must be listed in this ministry "Social Insurance."
All the official documents of the company must be certificated at the notary at the same day of
the company registration.
The Insurance: The social and retirement insurances are compulsory in Turkey for all the
employees in the companies, and that means for managers and employees as well. The
company must pay the insurance premiums regularly for each employee and worker in the
company. The insurance value is about 265 Turkish Liras per month.
The accountant of your company must arrange and prepare all the official papers and
documents. If you did not pay the insurance, for any reason, you would have to pay all the
previous amounts from the first day of the establishment of the company (the date of naming
you as a manager or employee of the company). You also should adjust the accounts and
monthly payroll schedules. Please do not forget to prepare the rental agreement for the place
and contract with a trusted accountant to conduct all the financial matters of the company.
Sectors of Special rules: the work in some areas or sectors such as banks, financial institutions,
insurance companies, exchange companies, and others are subject to the legislation and laws of
the Turkish financial markets and they must be registered at the Ministry of Commerce and
Industry.
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