As the practices regarding foreign investors in Turkey are based on equal treatment principle, the same rights and responsibilities of domestic investors apply to foreign investors as well.
There are no rules requiring for a foreigner company established to have a Turkish share in company’s management or capital.
In other words, a company can be established with 100% foreign capital.
There are five types of companies having legal entity that can be established. (Please first determine the type of company that is right for you.)
The most common types of capital companies in Turkey are limited and incorporated companies.
A company that is established by at least one or more real or legal entities under a trade title, where partner’s responsibilities are limited to the capital they undertook, and that has a determined original capital.
Limited companies should be established with at least 10.000 TL capital. It is obligatory for them to have Limited Company expression in their titles and to show their area of activity. The capital to be put by the partners must be at least 25 TL or multiples thereof.
It is established by at least one or more real or legal entities under a trade title, and the shareholders are only responsible against the company with capital shares they undertook.
Incorporated companies should be established with at least 50.000 TL capital. It is obligatory for them to have Incorporated Company expression in their titles and to show their area of activity.
PROCESS OF ESTABLISHMENT OF THE COMPANY
1. Residence Permit
In Turkey, it is obligatory for foreigners to receive a residence permit, who will stay more than the period provided by the visa or visa exemption, or more than ninety days.
Application for work permit in Turkey can be made in Turkey or from abroad. For applications to be made from abroad, foreigners should submit to the agencies of Republic of Turkey in the country that they are citizen of or they permanently reside in with a business contract, assignment letter or a document indicating company partnership. The employer in Turkey should make online application within ten working days following the date of application made to agencies, and they should submit the necessary information and documentation to the Ministry of Labor and Social Security personally or by mail.
In case the documents submitted for the company formation are deemed suitable for registration, one should be ready at Trade Registry Directorate on the day and time informed via phone call made by Trade Registry Directorate for signing the articles of association and commercial books in the presence of authorities.
8. Company Registration and Declaration on Turkey’s Trade Registry Gazette
For the declaration on the Gazette, the fee for the declaration text taken from Trade Registry Directorate should be paid.
After the registration of establishment, notifications to Social Security Institution and Relevant Tax Office are automatically made by the system.
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