- August 10, 2020
- Posted by: admin
- Category: Blog
Due to the increasing volume of the business between Turkey and India, opening a company in Turkey by Indians are increasing.
As world’s most trusted 6th economy, giant companies from India particularly show interest to energy and infrastructure projects in Turkey. India Ambassador Sanjay Bhattacharyya also pointed out that the trade volume between two countries will reach 20 billion dollars in 2025. Ambassador Bhattacharyya further stressed that “in order to establish a comprehensive free trade agreement between the two countries negotiations should continue. Turkey and India have great potential for mutual investments.”
According to the data of Indian Embassy in Ankara, India has 150 companies in Turkey, employing five thousand people in Turkey. About 40 of these companies operate in the production, service and agriculture sectors. The relations between India and Turkey improved after the official visit of President Recep Tayyip Erdoğan. Indian companies focus on mining sector, steel and copper, pharmaceutical-pharmacy, hotel management, bridge-highway construction, railways, automotive and information technologies. The Indian entrepreneurs also establish local partnerships with Turkish companies.
As a result of the above developments, opening a company in Turkey by Indians became very attractive.
Do Indians Need Local Turkish Partner to Open a Company in Turkey?
Recently, after the gigantic growth of Indian economy, the Indian entrepreneurs wish to expand their skills to the world. However, majority of the countries have some barriers for international entrepreneurs when opening a company.
In Turkey Indians can open a company without the requirement of any Turkish Partner. In the article of Can I open a company in Turkey without Turkish Partner the details can be clearly seen.
Which documents are required for opening a company in Turkey ?
The documents required for foreigners including Indians and Turkish local investors are the same. However, due to the official language difference between the countries some translations are required for the documents.
The documents required for opening a company in Turkey is defined in detail at our home page. Since the documents are one of the most crucial part of the company formation process in Turkey please do not hesitate to consult us when you have an inquiry.
Do Indians Require to Visit Turkey for Opening a Company ?
In the article should I come to Turkey for company registration the information is given in detail. As it is explained if the investor is not visiting Turkey, the required documents should be either apostilled or notarized by Turkish consulate.
The contact details of Turkish Consulates in India is below
Mumbai: Maker Chambers IV, 10th Floor, 101, Nariman Point, Mumbai 400021 E-mail
[email protected], 0091 22 22040365 / 0091 22 22040366
Can Indians Open a Bank Account in Turkey ?
After the company is incorporated the commercial bank account can be opened easily with the corporate documents of the company. Additionally, the investors can open a personal bank account in Turkish Banks.
In conclusion, opening a company in Turkey by Indians is very easy. Indians do not have any barrier when opening a company in Turkey. They can open a company in Turkey without the requirement of Turkish partner.
For further questions please do not hesitate to reach us.