COMPANY FORMATION
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.
Limited Company
Incorporated Company

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.

2. Work Permit
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.

3. Preparation of Company Documents
First requirement for establishing a company is to prepare the articles of association and commercial books.

4. MERSİS Application
All investors wishing to establish a new company should make their company formation applications on MERSİS system, which is the abbreviation of Central Registry System.

(Potential tax number is received during the application. Since the said tax number is given by the system automatically, there is no need for an application to the tax office.)

5. Application to Trade Registry Directorate Regarding Establishment Registration Request
For establishment registration processes, one should go and apply to Trabzon Trade Registry Directorate.

Working Hours :
08:30 - 12:00 / 13:00 - 17:30

For information :
+90 462 3268070 - 74 PBX
6. Submitting Company Documents Prepared
Prepared Relevant fees should be paid during the phase of submitting the Documents to Trade Registry Directorate.

In addition; 00,4% of the capital of the company to be established needs to be paid to the Institution of Competition through Trabzon Chamber of Commerce and Industry.

7. Signature in the Presence
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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