The Turkish Commercial Code no longer distinguishes between a company type for foreigners to establish a company in Turkey. Establishing a company in Turkey has now become possible for all types of companies.
Foreigners who want to establish a company in Turkey must fully complete the necessary steps for the type of company they will establish. In addition, the necessary documents must also be submitted.
In order to establish a company in Turkey,
- In order to establish a company in Turkey
- many procedures such as preparation of the company articles of association,
- approval of documents by the notary,
- obtaining the company potential tax number,
- making the payment to the competition authority bank account,
- depositing a certain portion of the capital into the company bank account and documenting this issue,
- applying to the trade registry office,
- certifying legal books and preparing a signature circular
must be fully completed.
Among the conditions for foreigners to open a business in Turkey, the first condition is for foreigners who will open a business to obtain permission from the Ministry of Labor and Social Policies. If the foreigner wants to work in the workplace under his own name and account, an application must be made to the Ministry for obtaining a work permit after the establishment procedures of the workplace are completed. If the application is approved as a result of the examinations to be conducted by the Ministry, there is also a requirement to apply to the relevant municipality in order for the foreigner to obtain a business and work permit.
Documents required to establish a company in Turkey
The documents required for foreigners to establish a company in Turkey are as follows:
• Company agreement
• Passport photocopy of the shareholders
• Authorized signatories activity certificate
• Signature declaration
• Registration request petition regarding potential tax number, articles of association, lease agreement, power of attorney
• When applying for registration, establishment notification form, company agreement, payment document to the competition authority, establishment declaration, chamber of commerce registration form, bank receipt, documents regarding annotations, in-kind capital expert report
Can a Foreigner Without a Work Permit Establish a Company?
Regulations regarding the establishment of a company by foreigners and work permits have been made in the International Labor Force Law No. 6735. Foreign partners of limited companies who are not authorized in the company and also board members of joint stock companies who do not reside in Turkey are not required to obtain a work permit. However, the work permit requirement continues for foreigners other than those listed.
While the regulation for partners is as follows, there are different regulations for founders. It is not possible for a foreign real person to establish a sole proprietorship without a work permit.
What Foreigners will do to establish a company in Turkey has been explained above. Despite the registration and establishment procedures during the company establishment process, the fact that foreigners are subject to the same standards and practices as Turkish citizens has made the process much easier. Thanks to the Foreign Direct Investors Law, foreign investors in Turkey are treated equally with Turkish companies and have superior rights in some respects. Foreigners who want to invest in Turkey can benefit from tax deductions, investment land allocations, insurance premiums and similar state incentives.
As a result, within the framework of today’s legal regulations, there is no distinction between local and foreigners in establishing a company and making investments in Turkey. The rights and obligations of local investors also apply to foreign investors. As can be seen, foreign investors have many legal and commercial guarantees in Turkey. However, in order to benefit from these privileges, a solid company infrastructure must first be established. Company establishment processes require technical and comprehensive work. For this reason, it is recommended to get legal assistance in order to obtain more useful results by obtaining detailed information and to prevent possible problems.
Lawyer opening a company for foreigners
There is no requirement for foreigners to personally apply to open a company in Turkey. Therefore, it is possible for foreigners to open a company in Turkey with the support of a lawyer to whom they have given the necessary authorities in the power of attorney.
Av. Havva KÜLÜĞ
