Our first step will always be to talk with you to ensure we completely understand your goals, plans, and strategy. Our qualified and experienced team are happy to help you refine these as well. Our discussions will ensure we establish the most appropriate company type and capital structure for you. There are also specific requirements which apply to certain industries in Turkey. We are happy to communicate by whatever method suits you best, such as in person, speaking on the phone, or even chatting over Skype.
Once we completely understand your intentions and have answered any of your questions, we will develop a personalized road-map for your Turkish company formation. The road-map will explain the steps involved in forming your company and also include checklists outlining the information we must receive to move forward. We are always available to talk about any questions or concerns you may have.
Once we receive all the information we need from you, we will start the steps for forming your company. These include drafting company documents and applications, visiting government offices and notaries, paying administrative fees, as well as updating you through this process, if necessary. We will finish your Turkish company formation within five working days after receiving all the information we need. We are still available to answer any questions you may have after we have delivered you the documents for your new company.
A Joint Stock Company is a limited company that can issue stock certificates, and set up with at least 5 shareholders, real persons or legal entities. The company’s stock capital is divided into shares, and the liability of the shareholders is limited with the share capital. Minimum capital requirement is 50,000 TL. General Assembly, Board of Directors and Supervisory Board are mandatory company organs.
Limited liability company has a more flexible structure, and for this reason, it is preferable than the other company types. At least one shareholder is required to form this type of company and a minimum share capital of 10,000 TL will also have to be deposited during the initial phase of the incorporation process. The liability of the shareholders is limited to the amount of share capital invested in the company.
A Commandite Company is a type of company established to carry out a business under a trade name. Whereas the liability of some shareholders is limited to the capital subscribed and paid by the shareholder (commanditer), for some shareholders there is no limitation of liability. The liability of legal entities will be in proportion to their shares. There is no minimum capital requirement. The rights and obligations of the shareholders are determined by the Articles of Association.
A Collective Company is similar to a Commandite Company, except only real persons can be shareholders of a Collective Company and the liability of the shareholders is limited to the capital subscribed and paid by the shareholder. Like a Commandite Company, a Collective Company is set op carry out a business under a trade name without a requirement of minimum capital, where the rights and obligations of the shareholders are also set out in the Articles of Association.
It is companies which owned by one real person and can conduct of their business, and There is no minimum capital for these companies, but it is difficult for the investor to get work permit through this type of company, first must be registered in the Chamber of Commerce, and then apply for a work permit.
Companies based abroad whose capital is divided into shares can open branches in Turkey. Opening a Branch requires prior approval from the Ministry of Commerce and Industry. For further information, click on Setting up a Branch.
Companies based abroad can open liaison offices in Turkey provided if commercial activities are not carried out through these offices. For further information, visit the section on Setting up a Liaison Office.
Foreigners who want to work in Turkey need to obtain a Work Permit before they can start working. Apart from some exceptional cases, Work Permits are granted by Ministry of Labor and Social Security. The application for work permits are done by the employers and the process usually starts by the employee applying to a Turkish Consulate where he/she is resident.
In order to stay in Turkey more than 90 days, a foreigner needs to obtain a Residence Permit. Residence Permits are granted by Immigration Office within the body of Turkish Ministry of Interior Affairs. There are different residence permit types, for example, a foreigner who enters to Turkey with a tourist visa can apply for a short term Residence Permit before his/her visa duration expires.