Yes, as a foreigner you can establish a business in Turkey. It is irrelevant what nationality you are or your place of residence.
The major steps to establishing a limited company are;
- To prepare and notarize the articles of association
- Deposit 0.04% of the capital with your bank
- Register the company at the Trade Registry Office and the Chamber of Commerce
*The original and two notarized copies of the Articles of Association must be submitted to the Trade Registry Office within 15 days from the date of notarization together the documents listed in the Documentary Requirements section below .
*For Limited Companies, the Articles of Association must conform to Article 279 of the Turkish Commercial Code.
Please note; The articles of association are published in the Trade Registry Gazette.
Once established, the company must be registered with the local tax office and after you will receive the companies ‘tax certificate’, which must be clearly displayed at the place of business.
You local tax officer will make a visit to your office or shop within a few days to verify this information.
The Registry Office will notify the 'Ministry of Labor and Social Security' of the incorporation and both the company and its employees must be registered with that administration. The company's registered address is stated in the articles of association and any changes must be registered.
The legal books of the company must be certified by a notary on the day the company is registered.
They are as follows;
The journal, ledger, case book and inventory.
Please note that a company in Turkey can be managed by foreign directors. (Work permits will be required)
And there is no requirement to have a Turkish director.
Please note; foreigners can establish a Turkish company and own it as a full 100% shareholder.
Please see YellAli's guide to setting up a company in Turkey
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Disclaimer: The information on this site is provided as a general guide. Information published to YellAli is confirmed by official government departments in Turkey. Whilst every effort is made to ensure that the site is up to date and accurate, information may be subject to change at any time. YellAli does not accept any responsibility or liability for inaccuracies in this information.