Establishing a company in Turkey from abroad

Establishing a company in Turkey from abroad

Based on the principle of CONSULTANT CABIN Pvt. Ltd. in helping investors from all over the world to start and expand their investments in Turkey, learn how to establish a company in Turkey from abroad. Many investors and businessmen want to establish a company in Turkey from abroad to exploit the investment opportunities in Turkey, as the Turkish economy is one of the fastest-growing and stable economies in the light of difficult times. Besides, the Turkish government makes a great effort to attract businessmen from all around the world through laws and facilities in the interest of the investor.

Some nationalities face difficulties in obtaining a visa to Turkey (Click here to read about Business Visa for Turkey), which leads them to establish a company and extract work residency in Turkey so that they can enter and exploit the investment opportunities that qualify them later to obtain Turkish citizenship. Other investors also resort to establish a company in Turkey from abroad to save time.

Steps to establish a company in Turkey from abroad

First step

• Communicate with one of the specialists in CONSULTANT CABIN Ltd. and determine the initial information of the company, including the name, the partners, the shares, the fields of activity of the company, and the company’s announced capital.
• Accordingly, the company’s article of incorporation will be prepared and submitted to the Chamber of Commerce.

The company’s article of incorporation is a document that includes a set of terms and conditions that are agreed by the founding partners to be submitted to the Chamber of Commerce to register the company and extract the commercial registry for it.

Second step

• Doing power of attorney (POA) for one of the investor representatives, or for one of the experts in CONSULTANT CABIN Pvt. Ltd. at the Turkish Embassy in the investor’s country, and sending the (original file) of the power of attorney (POA) to CONSULTANT CABIN Ltd. address in Turkey to initiate the incorporation procedures.
• The power of attorney (POA) form will be sent to you by the specialist you communicate with at CONSULTANT CABIN Pvt. Ltd.

The power of attorney (POA) is an official document that will be done at the notary or at the embassy of a certain country outside in which a specific entity or a person is authorized by another entity or another person to carry out specific procedures that are determined in the power of attorney (POA).

Third step

• After extracting the necessary documents from the Chamber of Commerce in Turkey, a copy of the documents will be sent to the investor by CONSULTANT CABIN Pvt. Ltd. to be submitted to the Turkish Embassy to do the authorization signature as a company owner and work, and another power of attorney (POA) for the chartered accountant (bookkeeper) in Turkey, which will be arranged by CONSULTANT CABIN Pvt. Ltd. and resend the (Original extracted files) to Turkey(Click here for work permit of different countries).

Authorization signature is an official document that will be done at the notary or at the embassy of a specific country abroad based on the extracted documents from the Chamber of Commerce, that contains company information in general in addition to the official signature of the partners or the owners of the company, and it is used in any transactions related to the company. After all these procedures, your company will be officially registered in Turkey

Last step: Opening the company’s bank account

The procedures for opening a bank account differ from one bank to another. Some banks can open a company account through the power of attorney (POA) and others require the personal presence of the investor.

Opening a bank account by power of attorney (POA)

• A power of attorney (POA) will be created in the investor’s country of residence that specifies opening the company’s bank account and will be sent to Turkey (the original file).
• The bank account will be opened so that the investor can transfer the company’s announced capital in the company’s incorporation article.

Kuveyt Turk Bank or Al-Baraka Bank is one of the excellent banks that we recommend to foreign investors due to the availability of customer service in Arabic and English, which makes it easier for the investor to communicate with the bank.

Then CONSULTANT CABIN Pvt. Ltd. will start the procedures for applying to work residency (work permit) and send it to the investors so they can enter Turkey if the residency has been accepted by the Turkish government.

The legal documents that must be obtained establishing a Commercial registry

It is issued by the Chamber of Commerce based on the company’s article of incorporation.

It contains all company information in addition to the company states whether the company is active or inactive.

Activities Certificate

It is issued by the Chamber of Industry and Commerce based on the commercial registry number. It contains a full explanation of the company’s activities, and a summary of the document can be issued in the English language.

Company tax plate

It is issued after the company is registered in the Chamber of Commerce via the Internet based on the company’s documents through registration in the Tax Department.

It contains the company’s tax number, incorporation date, and the official address of the company.

Authorization signature

It will be issued at the notary, based on the company documents, as mentioned previously.

It contains company information attached to the officially approved signature of the partners or the owner of the company.

It is preferable to be careful to have an original copy of the authorization signature for the company to be permanent with the partners or the owner of the company.

Chartered accountant (bookkeeper) contract

The legal accountant is the most important employee in your company, as it is a link between your company and government departments, and therefore it is preferable to choose a good accountant, as failure to any data submitted to the tax department by your company’s legal accountant may cost you a lot.

A contract must be signed between your newly established company and the accounting company to avoid such future problems.

The accounting contract is extracted by the accountant via the Internet from the Turkish accountants’ website of the Turkish government, as the company information and the accountant’s monthly salary will be determined, only.

Why should you establish a company in Turkey from abroad through CONSULTANT CABIN?

• CONSULTANT CABIN Pvt. Ltd. provides you with one of its specialists to carry out legal procedures in Turkey.
• CONSULTANT CABIN Pvt. Ltd. is keen to obtain all necessary official documents when establishing a company in Turkey.
• We will provide you a free virtual address for a certain period that enables you to make the appropriate decision about your company’s address.
• We provide you with one of the best chartered accountants (bookkeeper) for your company.
• We provide you assistance in applying for the short-term residence permit and work residency (work permit).

In addition to many advantages, at the following link, you can see the advantages of establishing a company through the services of CONSULTANT CABIN Pvt. Ltd.  The accounting contract is extracted by the accountant via the Internet from the Turkish accountants’ website of the Turkish government, as the company information and the accountant’s monthly salary will be determined, only.