Establishing a Company in Turkey

Steps of establishing a company in Turkey

First, the company’s headquarters

According to Turkish Law, to establish a company in Turkey, the company’s headquarters must exist. There are two choices to get either a virtual or a real headquarters:

The first choice is to get a real location which is an actual place for your company. To rent a place that will cost you approximately 1500 to 2000 TL monthly, in addition to other expenditures such as commission; etc.

The second option is to get a virtual place (Virtual Office in Turkey); which is a 100% legal address given to you by the state, but it is not a real place for your business (Click here to get Turkish business visa).

Second, the Capital of the company

The capital of the company is the main point, where the Turkish law specified that to found a company the minimum capital should be 10.000 TL. This amount of money cannot obtain you any power, Because the Turkish law deals with the company according to its capital value, so we will announce that the capital is 100.000 and it is useful for you to:-

• Getting a work/residence permit.
• The ability to join the commercial organization as TURSAB, Musiad, and others.
• Be able to perform deals to Export and import goods in accessible ways.

NOTE: It is not necessary to deposit the capital in the bank during the establishment process; the amount has to be deposited before applying for the work permit or within 24 months from the date of establishment

You will gain multiple benefits such as:

• Providing legal and business consultations for free for up to 2 years.
• Discount on registering your logo and slogan to protect your trademark.
• Help you to get the landline, the internet and the mobile lines for your company.
• Submit your company’s website to Google Search engine, and accredit it as a Turkish company for free.
• The company’s book that your bookkeeper will use is free for the first year.
• Searching for a convenient headquarters suits the estimated budget.
• We ensure that all formalized processes and procedures for establishing your company in Turkey are fully completed and authorized without any hidden fees.
• We provide you with a free virtual address, which is 100% legal address up to 2 years so you can start your business in Turkey immediately, and then you could have enough time to determine the place that suits you without a rush. After that, you can change your address easily, or you can continue using the virtual address, but with an additional cost that will be explained later.
• Merchant Card: Provides business people “trader cards” which identifying them as an owner of a business in Turkey, in addition to the benefits of getting conductions for some hotels, restaurants, and health centers.
• Registering your domain name (com.tr) and hosting for free for up to 2 years.
• CONSULTANT CABIN will help you to appoint a bookkeeper (legal accountant) and suggests some accountants we trust and work with.
• Helping you to get furniture for your office according to your specifications and budget.
• 50% discount on your website and mobile application development.
• NOTE: All the mentioned services will be provided according to the package that you will choose. (Click here to consult about your business)

Now let us start procedures to found a company in Turkey:

Before starting in establishing a company we have to specify the Type of Company type we would like to develop,

We’ve talked before about the companies’ types in Turkey, sort of the company depends on the company size as the following: read more about it

• Limited liability company
• Joint-stock company
• Limited partnership corporate
• Partnership company

Required Documents:

CONSULTANT CABIN doesn’t ask for any special documents… all you need that you have a valid passport, we will get all required documents for you, as:

• A copy of the passport translated into Turkish and notarized (we do it for you).
• Your private tax number (we get it for you).
• Security approval allows you to establish your company in Turkey (we get it for you)

First: The Book Keeper

The Bookkeeper here is the person responsible for the company’s accounts in front of the state and not the internal accountant of your company

The role of this accountant that comes to the end of each month and receives your invoices, expenses, and purchases and records them with the state, The Turkish law requires the presence of this accountant, and the absence of a statement may lead to the closure of the company the cost of the accountant monthly is 300TL.

Second: The Company’s Books

The Company’s Books are the books in which the Company’s accounts are recorded and delivered to the State at the end of the year, the cost of the books is 1400 TL annually.

Third: Corporate Tax

Including annual taxes, quarterly taxes, and rent taxes and the total costs of these taxes are from 2000 to 3000 TL yearly.

First stage: The Executive Stage

CONSULTANT CABIN will set a meeting for you with the auditor to discuss the best choices for the company; the session will take about one hour. (Click here to set meeting) Through this time, the establishment contract of the company will be made. It will specify the manager, the activities, and the address.

Second Stage: Tax Circuit

After completing the establishment contract and get it ratified, CONSULTANT CABIN will obtain a tax number for the company.

Third Stage: opening bank account for the company

You will able to deposit the company’s capital, then having a deposit receipt. Now our representative will complete all procedures with the trade chamber till getting the registered number of the company.

Fourth Stage: Signature ratifying

After inquiring about all required documents, you should ratify your signature in the presence of the notary.