CAN CHINESE REGISTER A COMPANY IN TURKEY ?
With its population of 1.4 billion and a gross domestic product (GDP) of $ 10.5 trillion, China has steadily increased in the world economy over the past 20 years and has become the largest power after the USA. Economic relations between China and Turkey are increasing every day. Therefore, can Chinese register a Company in Turkey, an important questions nowadays.
Finally, Yavuz Sultan Selim Bridge and the North Marmara Motorway from 51 percent of sales agenda with the Chinese consortium of Chinese investment in Turkey has exceeded $ 2.6 billion in 2019.
With the introduction of the new era of China as well Belt Road project in direct investments in Turkey it is expected to reach $ 4 billion. The areas where Chinese companies are likely to invest are listed as infrastructure, industry and technology.
Trade Volume Between China and Turkey
The foreign trade volume between Turkey and China amounted to about $ 20 billion in 2019. However, China has an overwhelming advantage in mutual trade.
Exports to China in 2019 amounted to $ 2.5 billion, while imports exceeded $ 17 billion. This unbalanced picture is tried to be compensated by trade agreements made in recent years.
Especially the Chinese capital to Turkey last few years, an important step was thrown through direct investments. This investment process started in 2015 with the purchase of 24.5 percent of Tekstilbank by the Industry and Trade Bank of China (ICBC).
In the following years, Fina and Kumport ports continued with the acquisition of Demirer Kablo, Netaş Telekom, Boyracı İnşaat and Trendyol by Chinese companies at certain rates.
Finally, in the last days of 2019, it was revealed that the majority share of Yavuz Sultan Selim Bridge and North Marmara Motorway was purchased by a Chinese consortium.
Such development lead the Chinese entrepreneur to establish a company in Turkey.
Thoughts on the Trade Between China and Turkey
China Consul General Cui Wei, says they expect to exceed $ 4 billion by the end of 2020. Investment in Turkey with the parties noted that they are open to cooperation in all areas. Wei declared that, “China is a country with all the skill in manufacturing”
Such motivation of the Wei, attracted businessmen in China to register a company in Turkey.
Turkey EY Corporate Finance Partner İlhami Aries, explains that in China a serious accumulation of reserves that performs a rapid growth based on exports over the past 30 years.
Are There Any Restrictions on Chinese to Register a Company in Turkey
There are no any sort of restriction to any nationality on opening a company in Turkey. Quite the opposite, Turkish Government promotes foreign investment to Turkey. As a result of the above developments the answer of the question “CAN CHINESE REGISTER A COMPANY IN TURKEY?” yes.
What are The Steps of Company Registration in Turkey by Chinese?
You can find the more comprehensive information on our main page. However, briefly, the steps are as follows;
- Obtaining Potential Tax Number
- Draft of Article of Association and Apply over Mersis
- Going to trade registry for the registration
- Generating Signature Circular
- Opening Bank Account
The above steps are might be difficult for foreigners.
Conclusion
The answer for the question CAN CHINESE REGISTER A COMPANY IN TURKEY ? is definitely yes. Moreover, it is a rising trend as you can see. The steps might be confusing for a foreigner to complete by himself. Therefore, we strongly suggest the assistance of an expert.