Company Setup in Turkiye

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Company Setup in Turkiye : Requirements and Procedure

Company setup in Turkey involves several steps and considerations. Here’s a brief overview:

1.Choose Your Company Type

Decide on the type of company you want to establish. Common options include Limited Liability Company (LLC), Joint Stock Company (JSC), and Branch Office.

2.Determine Your Business Activities

Clearly define the activities your company will engage in. Some activities may require special permits or licenses.

3.Reserve Your Company Name

Choose a unique name for your company and check its availability with the Turkish Trade Registry Gazette.

4. Draft Articles of Association

Prepare the articles of association for your company, outlining its structure, management, and operations.

5. Appoint Directors or Managers

Appoint directors or managers who will be responsible for the day-to-day operations of the company.

6.Open a Bank Account

Open a corporate bank account in Turkey. This will be necessary for depositing the required share capital.

7. Notarize Documents

Notarize the articles of association and other necessary documents at a notary public in Turkey.

8. Obtain Tax Identification Number

Apply for a tax identification number for your company from the tax office (Vergi Dairesi).

9. Register with the Trade Registry

Submit your company documents to the relevant Trade Registry Office (Ticaret Sicil Müdürlüğü) and complete the registration process.

10. Obtain Necessary Permits and Licenses

Depending on your business activities, you may need to obtain additional permits or licenses from relevant authorities.

11. Register with Social Security Institution

Register your employees with the Social Security Institution (Sosyal Güvenlik Kurumu) if you plan to hire staff.

12.Comply with Tax Obligations

Ensure compliance with tax obligations, including corporate income tax, value-added tax (VAT), and withholding tax.

13. Maintain Corporate Compliance

Stay up-to-date with legal and regulatory requirements for corporate governance, reporting, and compliance.

14. Consider Professional Assistance

Consider hiring a local lawyer or consulting firm to guide you through the company setup process and ensure compliance with Turkish laws and regulations.

Professional Support

For company setup in Turkiye, Keep in mind that the specific requirements and procedures may vary depending on the type of company you wish to establish and your business activities. It’s essential to conduct thorough research and seek professional advice to navigate the company setup process in Turkey successfully.

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