Turkey follows an open investment policy that allows foreigners to establish companies in the country. However, there are legal regulations that must be followed during the establishment phase. Depending on the type of company, the documents to be complied by foreign investors may vary according to their main functions, capital requirements, tax and legal regulations.
In this article, the permission of foreigners to establish a company in Turkey, the legal legislation they will comply with, the application stages and the necessary documents, the articles that will encourage foreigners to establish a company in Turkey and the advantages of doing business in Turkey for foreign investors will be discussed.
Application Stages and Documents
In order for a foreigner to open a company in Turkey, he/she must decide on the type of company at the first stage. It is generally recommended that the company be a joint stock or limited liability company.
In the next stage after the type of company, it will be important to decide on the title of the company. The title of the company must include the fields of activity of the company.For example ECA AUTOMOTIVE, TOURISM, INDUSTRY, CONSTRUCTION (type of company) Company.
After this stage is passed, it is necessary to obtain a potential tax number for the company partners. This tax number can be obtained from the internet or from tax offices. However, what is important at this point is the need for an address statement.
After the potential tax number, the “articles of association” of the company must be prepared. This is very important as it will be the constitution of the company. It is recommended to prepare it in the presence of a lawyer and financial advisor.
After this stage, transactions should be followed at the trade registry office in the provinces, and if exports or imports are to be made afterwards, transactions should be made in this regard as well. These transactions can be followed and completed in many cities, especially in Istanbul-Ankara-Izmir-Antalya, through Seyhan Law Office.
It is mandatory that commercial books are kept by a financial advisor after your company is established.
Free Zone- Another way for foreigners to establish a company in Turkey is to invest in free zones created specifically for them. These regions provide many tax advantages for foreigners with lower tax rates, tax exemption, facilitated customs procedures, free foreign exchange transactions and tax exemption for domestic labor compared to other regions of Turkey. Izmir, Turkey’s oldest free zone, can be given as an example.
Easy company formation- Establishing a company in Turkey can be completed in a few days. You do not need to come to the country to establish a company in Turkey. You can solve all your company establishment processes in Turkey through Seyhan Law Firm.
An Attractive Investment Environment-Turkey’s economy is growing rapidly and offers an attractive environment to the world’s leading investors. Turkey, which has a strategic location between Europe, Asia and the Middle East, is an ideal place to do business. Turkey also offers a large domestic market and many opportunities to do business in the Middle East and Asia. The young population makes the country an attractive labor market.
Conclusion and Suggestions
Turkey has a great potential for foreign investors. The Turkish government continues to work to improve the investment climate. This will reduce the barriers for foreign investment to come to Turkey and create a more attractive environment for investment. Turkey attracts attention with its unique geographical location, high-quality workforce, advantageous investment environment and strong economy.
Partnering with local businesses to strengthen your company in Turkey, conducting market research by ensuring the active participation of people with experience in the Turkish market, and being familiar with customer needs, competitive factors, and other business activity-related components are the right steps to put you ahead of other companies.