Doing Business In Turkey

Questions, answers and general discussion about doing business with Turkish companies.

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graeme_caesar
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Doing Business In Turkey

Post by graeme_caesar » Sat Jan 06, 2007 11:43 pm

I am planning to set up a small business in Turkey, but am having difficulty in finding out what the requirements are for business registration. Can anyone help?


Michael
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Post by Michael » Sun Feb 18, 2007 2:02 am

It is remarkably straightforward to set up a company in Turkey, with considerably less red tape and bureaucracy than in other countires, but the proceedure and requirements dependon the type of company you want to set up. You can set up a sole trader company, a limited company or an incorporated company.

1) You will need a residence visa before being able to set up a company in Turkey, but you can obtain this when in Turkey. It will give you permission to stay in Turkey basically for as long as you like (depending on how much you pay; the cost is about 270 YTL for six months), but will not give you permission to work. However, it is enough to set up your company. The only requirements for this visa is that you are a citizen of an EU country although some other countries may also be eligible; the other requirement is that you have 5,000 Turkish Lira in the bank. A bank slip is acceptable. You can apply for such a visa from the Police Headquarters in Aksaray (1st floor). It may take a couple of visits to complete the proceedures. After you have set up the company, you can apply for a work permit, and that will give you the right to stay in Turkey indefinitely.
2) If you are setting up a limited company, I think you need a Turkish partner, although they only need to have a minimum share of 1% in the company.
3) An accountant will be able to help with the rest, including writing the articles of association. Reckon on paying upwards of 2,000 YTL to set up the company, and at least 200 YTL (300 YTL is more normal) per month in accountancy fees. You will have to go to the notary office to sign the articles of association.
4) Once the company is up and running, you can pay the taxes to your local tax office or even on the internet.

The whole process can take as little as a week.

geroll
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residence permit not necessary

Post by geroll » Sun Feb 18, 2007 12:58 pm

To create a company you do not need a residence permit except of course if you want to ask for a work permit after. But just for setting up a company it is not necessary. ( I have created my own limited company without residence permit)

A local partner is not necessary, you can set up a company with only foreign stockholder. I own my turkish company together with my wife, and w are both french.

For accounting fees I think it must be more expensive in Istanbul, but for my small businees in Finike I pay 150 YTL per month. (accounting, tax and SS formalities)

Gerard


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