Have a firm in Turkey

For many foreigners, earning a living by starting a business is very important. But they do not know enough about how to start a secure business. In this article, we want to introduce you to the types of companies, the documents required to start and the cost of starting a business.

  • Types of Companies
  • Joint-stock company (A.Ş.)
  • Limited liability company
  • Commandite company
  • Collective company
  • Cooperative company

 

 

  • Documents for the Company Establishment:
  • A company establishment petition and a notification form, duly filled in and signed by persons authorized to represent the company.
  • Articles of association including notarized signatures of founders and notary certification proving that all shares constituting the registered capital have been subscribed by the founders in the articles of association
  • Founders’ statement signed by the founders
  • The bank letter proving that the share capital has been deposited
  • The bank receipt indicating that 0.04% of the company capital has been deposited to the account of the Turkish Competition Authority at a state bank
  • Permit or letter of compliance for companies whose corporation is subject to the permit or letter of compliance issued by the relevant ministry or other official institutions
  • Notarized copy of signatures of persons with the authority to represent and bind the company
  • Application number indicating that the trade name to be used has been checked and confirmed by the Trade Registry Office
  • Company establishment statement form (3 original copies)
  • Certificate of residence of founding partners
  • Notarized translation of passport in case the foreign shareholder is a real person; apostilled and notarized translation of registry document issued by the competent authority in case the foreign shareholder is a legal entity

Costs of opening a company in Turkey

To open a company in Turkey, it costs in average 2000 euro to set up a limited company. Annual fees for the company amount are in average 700 euro per year and this price includes registry submissions and accounting fees.

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