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Company Establishment Steps in Turkey

Dr. Musa MANSOUR

Dr. Musa MANSOUR
2023-05-06 00:48:48  917

Pre-registration Steps

Before establishing and registering a company in Turkey, it is critical to find a trustable local specialist company or entrepreneurship center to help you throughout the process. Turkey company establishment process may seem a bit complicated to a foreigner who wants to do business in Turkey. But, with an experienced guidance, it will be less costly and less time consuming. 

First of all, for those who want to register a company in Turkey, legal address is a must. With Synergia Digital Company Package, it is very practical and economical to get a virtual office and legal address for company establishment easily. Secondly, the company founder’s passport should be translated into Turkish and personal potential tax number should be obtained from a tax office and then should be uploaded to the Chamber of Commerce online system: mersis@ito.org.tr. If the founder of the company has a residence permit or temporary ID in Turkey, then there is no need to make an identification to the system, but the address information in Turkey and the residence permit ID should be registered in the national address database (the residence permit should be valid and not expired).

If the founder or founding partner of the new company is another company (not an individual), then the notary translation of the company's articles of association and certificate of activity as well as the apostilled tax number should be uploaded to mersis@ito.org.tr. Moreover, If the founder of the company is another company, the apostilled and notarized translation of the decision of the board of directors regarding the address, title and capital of the new company to be established in Turkey must be submitted to the Chamber of Commerce. If the company abroad issues a power of attorney for the establishment of a new company in Turkey, the Board of the Company should take a decision for the establishment process details, total founding capital, shareholder structure and authorization limits of the holder of PoA.

Thirdly, with all the information at hand, new company’s articles of association is prepared. This document is regarded as the Constitution of your company. This document is also prepared by Synergia’s experienced team in close communication with the founders of the new company. 

Fourthly, the company establishment process starts after all the necessary documents are uploaded to the system, and a physical appointment date is set by the Turkish Chamber of Commerce for the company registration. 

Even when you are not in Turkey, Synergia does all of this tasks for you. All you need to do is to send your passport copy by email to our team, determine the suitable time for you (the stakeholders should be in Turkey for the date of appointment from the chamber of commerce) or issue a power of attorney and leave the rest to us.

Company Registration Steps

For limited (LLC) companies, the minimum company's founding capital is only 10,000 TRY. In joint stock companies, the minimum company's founding capital is 50,000 TRY. In a joint stock company, ¼ of the company's founding capital must be deposited in advance to a temporary bank account to be opened in the name of the company. Companies with a capital of over 250,000 TL in Joint Stock Companies are obliged to receive consultancy services from an official lawyer in Turkey.

Establishment of a company in Turkey may take 1-3 working days. After our initial consultation, Synergia team will tell you the exact time how long it will take to finalize all the procedures necessary for your specific business and thus the minimum time needed for stakeholders to be in Turkey for the establishment process. However, it is possible to register a company in Turkey with or without all stakeholder’s presence (their official power of attorney will be enough). But consider that it can be very difficult to open a bank account remotely in the company name.

After all documents are uploaded to the system and get the appointment date, the signatures of the persons authorized to represent the company under the title of the company shall be approved by the competent authority and signature declarations shall be prepared by notary. This process is carried out in Trade Registry Offices in Turkey.

During the company registration date, the stakeholder(s) aligned with the company’s assigned official financial advisor will be present in the notary office to give attorney to the advisor for the registration process. 

Confirmation of Registration

Upon the application of the founders or the financial advisor of the company to the Trade Registry Office with the relevant documents, the Trade Registry Office completes the registration process. And your company registration is announced and published by the Trade Registry Newspaper officially. This means your company is formally established. And also your new company’s tax plate is issued. 

Post-registration Tasks

A few hours after the company establishment process is completed and the establishment is approved, the company officials can issue the passport originals, passport translations and potential tax numbers, along with the signature circular and power of attorney, with the Trade Registry Newspaper. After the circular of signature and power of attorney is issued, an application is made to the tax office for the company's notification and the company's tax office passwords. All these tasks can also be followed by your assigned official financial advisor. 

Do not forget that all companies in Turkey must have a Certified Public Accountant for the tax and declaration responsibilities to the Turkish Tax Office. 

For all these complex steps, you may have difficulty to follow up every detail without error and you may face serious problems and costs. Please click on Synergia Digital Company Package and fill out the form easily and witness how all these complicated workload are simpler, faster and very economical in a trustable way.

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