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ESTABLISHING COMPANY

Due to the practices aimed at foreign investors in Turkey being based on the principles of anti-discrimination and equal treatment, any rights and liabilities valid for national investors are valid also for foreign investors. 

There is no rule that makes it mandatory for an established foreign company to have Turkish shares at its capital or management.

In other words, a company may be established with a 100% foreign capital.

International investors may establish any form of company set out in the Turkish Commercial Code (TCC), which offers a corporate governance approach that meets international standards under five types.

Although companies may be established according to these five different types, LTD and INC are the most common types chosen both in the global economy and Turkey.

Limited Company (Ltd. Co.)Incorporated Company (Inc. Co.)

STEP 1

Issuing company documents (articles of association, directors’ statements of signature and commercial books) and approving such documents at notary
(1 days)

Document Cost
120 TL 

Notary Approval for Articles of Association (5 copies)
600 TL
 

Notary Approval for Company Director’s Statement of Signature
60 TL

 Toplam = 780 TL

STEP 2

Depositing a certain percentage of capital to T.R. Competition Authority account
(1 days)

0.04% of capital is deposited

STEP 3

Depositing initial capital to a bank and receiving paid capital document
(1 days)

Free of charge

STEP 4

Application to Trade Registry Department for registration
(2 days)

175 TL
Chamber of Commerce preliminary registration fee)

745 TL
Trade registry including signature of first director

250 TL
For each additional director)

0,33 TL
Publishing fee per word

2 TL
Trade Registry Gazette fee

55 TL
Establishment announcement fee

STEP 5

Notary approval of legal books

Company founders should have their legal books approved on the day they register their company at the Trade Registry Department. Notary has to communicate the commercial book approval to the Tax Office

1 day (Concurrent with the previous process)

32,40 TL (6 books)Day Book Ledger

Inventory Register Shareholders’ Stock Register Minute Book,General Assembly Meeting and Negotiation Book

STEP 6

Tracking the notice of Trade Registry Department together with the Tax Office

Trade Registry Department notifies the Tax Office and Social Security Institution of the establishment of company.

In practice, company representatives track whether or not the notice in question is received for the purpose of accelerating the registration process. A tax assessor visits the company headquarters for issuing identification report. Signature of at least one official is required to be in the identification report.

Trade Registry Clerks communicate the company establishment form with tax number notification to the relevant Tax Office
(1 day)

Free of Charge