- June 23, 2020
- Posted by: admin
- Category: Blog
For the entrepreneurs around the world time is one of the most important assets. Therefore, the question “Should I Come to Turkey for Company Registration?” one of the most frequently asked questions. As it is explained in earlier articles company registration in Turkey requires some procedures to be followed. In this article we will evaluate whether is it possible to accomplish those procedures remotely.
In terms of the physical visit of client for company registration in Turkey the milestones can be listed as below
1- Company registration in Turkey process
2- Tax opening and signature circular process
3- Commercial Bank Account Opening in Turkey Process
The crucial point about the above in order to start latter step the prior step should be completed. Which means, without company registration in Turkey the tax opening cannot be made. Similarly without completing company registration and tax opening, commercial bank account cannot be opened in Turkey.
For the requirement of the physical visit to Turkey, each step should be analysed separately.
Should I come to Turkey for Company Registration?
The important elements for the company registration are;
1– The required documents for company registration in Turkey
2- The notarization of the such documents to be used in the process
The documents required for company registration in Turkey are basically (i) the passport copy of the shareholder (ii) the power of attorney for company registration in Turkey. ( Such documents are for real persons LLC formation in Turkey)
The above documents for company registration in Turkey should be either notarized or apostilled. The notarization can be either made by notary public in Turkey or Turkish Consulate in the city where the client based.
If we are looking for the answer of should I come to Turkey for company registration, the options are Turkish consulate and apostille authority of the country of the client.
As a result, if the client apostille the relevant documents or notarize them in Turkish consulate and send the original of those document s/he doesn’t need to come Turkey for company registration.
Should I Come to Turkey for Tax Opening and Signature Circular of the Company
When the company in Turkey is registered it does not become automatically active. A director should be appointed and tax opening of the company should be made. As can be seen in the above item, a Power of Attorney is send to a lawyer/accountant in Turkey for company registration. However, such Power of Attorney gives right on behalf of the natural person shareholder. Company and natural person are different legal persons. Therefore, the previously given power of attorney is not sufficient for post company registration process in Turkey. The below steps should be followed for tax opening in Turkey and appointing company representatives;
1- Lawyer/accountant should send a draft power of attorney on behalf of the company for tax opening in Turkey
2- Lawyer/accountant should draft an article association for appointing a company director
3-Lawyer/accountant should send the registration documents of the company in Turkey to the client.
4-The client should at first sign and then notarize the article of association along with the power of attorney for company
5- Lawyer/accountant can do tax opening/registration of company director after receiving the original notarized documents.
Should I Come to Turkey for Commercial Bank Account Opening
Even though the power of attorney granted by the client gives an authority, the banks require to see the clients when first opening a commercial bank account in Turkey. Therefore, without physically visiting Turkey it is not possible to open a commercial bank account.
In conclusion both company registration in Turkey and tax opening is possible without visiting Turkey. However, if you can have chance to visit Turkey the process for company formation will be faster. On the other hand, commercial bank account opening in Turkey under current circumstances is not possible remotely.