Start Up Business in Turkey:

Many investors want to establish a company in Turkey but they don’t have enough information about the legal details and how they should start, so we prepare this fully article for investors about all the details they need to know.

Companies Types in Turkey:

It is very important to get acquainted with the types of companies in Turkey in order to be able to choose the right type for you accurately, just as the type of company varies according to the size and responsibilities of this company… the types are:

- Joint Stock Company

A Joint Stock Company is the company possessing a trade name, whose capital is determined and divided into shares. It can be as a public company or as a private company, but a statutory auditor is required.

At least five shareholders are needed to incorporate this company type (Real persons or legal entities), and the requirements for the minimum share capital is 50,000 Tl The management of the company is also foreseen by a board of directors, together with a supervisory board.

- The Joint Liability Company

It is a company established to operate a business under a specific trade name, The liability of any of the shareholders is limited only to the capital subscribed and paid by the shareholders, and there is no minimum capital requirement.
All contributors need to be real people. Shareholders’ equity and obligations are determined through the Statutes.

This type of company has to be established by at least one real person or a legal entity and fifty people at the most, and the liability of shareholders is limited to the capital subscribed and paid by the shareholders.
The capital of such company shall be not less than 10,000 Tl minimum for the establishment of the company per person, and 12.500 for two persons.

- The Limited Liability Company

This company has to be established by at least one real person or a legal entity and fifty people at the most, and the liability of shareholders is limited to the capital subscribed and paid by the shareholders.
The capital of such company shall be not less than 10,000 Tl minimum for the establishment of the company per person, and 12.500 for two persons.

- The Limited partnership corporations

The Limited partnership corporations is a company established to run a business under a specific brand name.
As the liability of some shareholders is limited to the capital subscribed and paid by the shareholders (financiers), there are no limits on liability for some shareholders. Only legal entities funded.
There is no minimum capital requirement, and shareholders’ equity and obligations determined through the Statutes.

The Papers Required To Establish a Company in Turkey:

- A valid passport translated into Turkish and notarized

- Private tax number, and it is extracted within one day from the tax office.

- Security approval to allow the establishment of the company.

The Steps of Establishing a Company in Turkey:

Step 1:

 According to the Turkish Law to establish a company in Turkey, the company’s headquarters must be exist, and the minimum capital should be 10.000 Tl, this amount of money cannot obtain you any power because the Turkish law deals with the company according to its capital value, so we announce that the capital should be 100.000 and it will be better and useful for you to:
- Getting a work/residence permit.
- The ability to join the big Turkish commercial organization.
- Be able to perform deals to Export and import goods in accessible ways.

Step 2:

Signing the incorporation contract, in which he clarifies details of the company, such as who's the manager - the work type - the company activities ... and others

Step 3:

 Extracting the tax number of the company from the Tax Department, so legally after that the company's taxes can be paid periodically in the relevant tax departments.

Step 4:

Opening a bank account for the company to deposit the capital in it, and keeping the bank receipt.

So after this step, it becomes possible for the manager of the company with the assistance of the intermediary company responsible for the management of his company's papers to obtain approval from the Chamber of Commerce in Turkey to establish the company, terminate the real estate registry, or any other procedures.

Step 5:

 Approving the signing of the incorporation contract, since after completing all the previous procedures, especially obtaining the company’s commercial registry in Turkey and completing the procedures of the Turkish Chamber of Commerce, the company’s manager should approve the signature, where he is appointed as the authorized signatory in the name of his company, and the signature of the company’s manager is approved in front of the notary.

The idea of ​​buying real estate in Turkeyhas become popular among those interested in obtaining an ideal opportunity for housing or investment and take advantage of the appropriate real estate investment options in Istanbul to obtain a high return by communicating with our real estate consultants.

Do not forget that investing in real estate in Turkeyis only a way to gain Turkish citizenshiporreal estate residencepermit that allows you to stay in the country legally and then acquire many of the privileges that a Turkish citizen gets.