Can Foreigners Open A Company In Turkey?

The first question comes up to the mind of foreigner insvestors is “Can Foreigners Open A Company In Turkey?” The shortest and simplest answer to this question is yes. According to the FDI law of Turkey, there remains no difference between a Turkish citizen and a foreigner when it comes to investing in the country.

Establishing a company in Turkey is not a hassle for foreigners. With several tax exemptions and benefits, opening a free zone company in Turkey is possible. Company formation in Turkey, remains a matter of a several days and moderate expense.

Due to the expanding market and growth opportunities of Turkey, many investors find Turkey particularly suitable for investments. The followings are a few steps that the company has to follow if it wants to invest in Turkey.

Smart answers for the question”Can Foreigners Open A Company In Turkey?

Before opening a company in Turkey, make sure to understand the economy, its opportunities and the procedures associated with the establishment process.

•         Market research is a must for every investor.
•         Look for special business zones in Turkey such as organised industrial zones, free zones, and technology development zones.
•         Look for investment incentive zones in Turkey
•         Learn about the business structures like Limited Companies, Joint Stock Companies, Commandite Companies, Cooperative Companies, and Unlimited Companies.
•         A mass information about incentive schemes available for foreign investors and the minimum capital requirement.
•         Get to know about the tax laws of the country and the company setting up process in detail.

Ways To Form A New Company In Turkey

Much like any other country, Turkey, too, has its set of rules and regulations for opening a company in the country. Turkey welcomes foreign investors with open arms and much of the country’s economy needs FDI support to grow rapidly.

Therefore, the rules and regulations are not complicated and time-consuming. The following is a rough outline of how you can open a company in Turkey.

•         To begin with, you must choose a business structure from the available options. Whether you choose a joint stock company or an LLC, you need to get a notarization certificate for the company as per the Companies Law.
•         The next step would be to open a corporate account in a bank in Turkey. After opening the account, the investor has to deposit the required capital amount.
•         After depositing the capital amount, the entrepreneur may start appointing executives for the enterprise following the legislation. 
•         The next step involves the submission of relevant information to the Trade Registry Office about the establishment and its managers and stakeholders.
•         Then the company should obtain VAT and tax numbers for starting operations. Getting the company registered with the tax office also remains an indispensable part here.

The best part about forming a company in Turkey remains that you do not have to visit the country for the task even a professional company formation consultancy can help you from your company in Turkey.

However, you must have a local address for your company in Turkey. With the various exemptions and facilities available for foreign investors, forming a company in Turkey remains a low-cost affair. This is another reason why investors find Turkey one of the best choices for investments.

The entire process of opening a company in Turkey does not take more than couple of days in general. If you have followed every rule and provided the relevant authorities with the necessary documents, the process remains quite smooth and hassle-free. However, for additional assistance, you can always seek the help of professionals for company formation in Turkey.