Establishing a "company" in Turkiye allows the foreign investor to obtain many commercial facilities in addition to many other privileges, within the framework of the efforts made by the Turkish government to support traders, capitalists and businessmen.
In this article, "Omran TRK" Real Estate Company explains to its clients and all followers of its investment projects the mechanism for establishing a "company" in Turkey, the conditions necessary for establishing a company on Turkish territory, and the advantages of establishing a company in Turkey.
First, it is necessary to take a comprehensive look at the types of companies in Turkey:
Solitary company: It is established with the aim of operating a specific commercial project, and the shareholders' liability is limited to the capital paid by them, and the rights and obligations of shareholders are determined by the articles of association.
Limited liability company: It is one of the types of companies most chosen by investors because it is suitable for many commercial and industrial activities, and it can be established by at least one person while the shareholders' liability is limited to the capital they share, as the minimum capital is 10,000 Turkish liras.
Joint stock company: Its main conditions include the presence of five real persons with a capital of 50,000 Turkish liras as a minimum, and the capital is divided into shares and the shareholders' liability is limited to the relevant capital.
Limited partnership: The purpose of its establishment is to operate a commercial project under a specific name, and the shareholders' liability is limited to the written and paid-up capital, and there are no limits to the liability of some shareholders, and their rights and obligations are determined by the basic articles of association.
"Omran TRK" draws the attention of its clients to the fact that one of the most important pillars of the "company", according to what has been monitored from legal sources, is:
Company headquarters: Turkish law stipulates that every company must have a headquarters. There are two legal solutions for this headquarters, the first is the "real headquarters" which is an existing headquarters, i.e. an office or shop that the person rents or the project owner owns, while the second solution is the "virtual headquarters" which is an existing headquarters, an office or shop, and your office or company is registered in this place so that it is real for the state but fictitious for you, meaning that you cannot use this headquarters to practice your activity, it is only an address for your company and this matter is 100% legal in Turkey.
Company capital: This is the most important point in establishing a company, as Turkish law stipulates that the minimum capital is 10 thousand Turkish liras, but this type of capital does not give you any powers, because Turkish law treats the company according to its capital, so it is recommended that the minimum capital be 100 thousand Turkish liras.
Because "Omran TRK" is keen to provide correct information, she explains to her followers the most important steps necessary to establish a "company", which are:
Preparing the supporting documents: a valid passport translated into Turkish and certified by a "notary", in addition to the necessity for the person wishing to establish the company to obtain a "tax number" after preparing and establishing the contract, adding a security approval to allow the establishment of the company, and three personal photos of the company owner
Preparing a legal accountant: He is the person responsible for the company's accounts before the state and not the company's internal accountant, and the role of this accountant is to submit a tax statement for the monthly incoming and outgoings, and his absence is considered a violation that may lead to the closure of the company.
Preparing the company's books: These are the books in which all the company's accounts in Turkey are recorded, and they are delivered to the relevant state departments periodically at the end of each year, and the cost of these books annually amounts to only about 1100 Turkish liras.
After contracting with a legal "consultant" accountant for the company, and preparing the company's books, it becomes possible to start preparing the company's establishment contract in Turkey and move on to the other stages.
Preparing the articles of association and notarizing it and attaching a statement of the company's address, after which you must go to the tax department to register the company and obtain its tax number, because the company is considered a "Turkish legal entity".
Determining the company's director: This is done by choosing a fixed signature at the notary public (notary) and allows for the appointment of one or more directors for the company.
The basic company data included in the articles of association are determined and will be submitted to the Turkish Chamber of Commerce.
The procedures for establishing the company are initiated, writing the articles of association and submitting it to the Turkish Chamber of Commerce to obtain the company's commercial register, accounting books and other official papers.
After issuing the commercial register, the company's director can agree to sign with the Turkish notary public and this signature will be approved in all Turkish government departments.
After extracting the commercial register and completing the approval of the signature, the company's director can open a bank account for the company, and the bank does not request opening any amount of capital to open the account, and in this case the establishment procedures have been taken with the company's readiness and that the company is ready to work in any of the activities mentioned in the articles of association.
Opening a bank account in the name of the company: Here, "Omran TRK" draws attention to the fact that the capital can be deposited in full before the Turkish Chamber of Commerce approves the establishment of the company in Turkey, provided that the capital is paid within a period of 24 months starting from the date of establishment of the company in Turkey. Also, the company cannot grant work permits or residence permits before depositing the capital in full.
After completing the company registration procedures in accordance with the previous steps, the Commercial Registry Office notifies the Ministry of Labor and Social Security of the establishment of the new company. Therefore, all employees and workers of the company, including managers, must be registered with the "Ministry of Social Insurance".
"Omran TRK" points out that one of the most important conditions for establishing a "company" in Turkey is that it has a headquarters, meaning that the founders actually have an office in Turkey or a shop or building according to what is required to establish the company in TURKIYE.
"Omran Turk" also advises that the company's capital be at least 100 thousand Turkish liras, because this gives the company owners several benefits from.