- March 2, 2023
- Posted by: admin
- Category: Blog
Entrepreneurs and investors who want to take advantage of Turkey’s thriving economy and the prime position may find the nation to be an appealing place to set up businesses. Yet, several legal and bureaucratic hurdles must be cleared to form a corporation in Turkey. Therefore, the question comes up what should you do before company registration in Turkey.
This guide will provide an in-depth summary of the steps in company registration in Turkey, including the available legal structures and necessary processes. However firstly, let’s check out a few advantages of setting up a business in Turkey.
The Pros of Setting up A Business in Turkey
The Free Trade Area of Turkey
Companies may be formed in the Turkish free trade zone if an investor is interested in company registration in Turkey. An organisation in a free trade zone will be eligible for a wide range of government subsidies and tax breaks. Also, investors in the Turkish FTZ may transfer their money back to their native nation.
There is widespread agreement that Turkey’s economy is on the rise and welcomes new ideas from across the globe. When it comes to keeping a business owner’s money safe, this nation ranks among the top 30.
If you look at the numbers, you’ll see that Turkey is among the top 60 countries in the world for doing business. The economy of Turkey is doing well, with a GDP of $649 billion and expanding every year.
Direct Foreign Investment
Investors from the United Kingdom, the United States, and India pour the most money into Turkey among the nations in Western Asia. Turkey’s government has opened up a variety of industries to international investment, as seen by this.
FO-Consultancy is a business advisory company in Turkey that focuses on international law. Therefore, for more info on what Should You do Before Company Registration in Turkey?, you may get in touch with us.
Establishing a Turkish Corporation: Points To Remember
Administrative And Legal Procedure
There are several legal and administrative documents required for company registration. These include getting the appropriate permissions and licenses, registering your firm with the appropriate government authorities, and getting a tax ID number.
Legal Structures for Businesses
Common types of businesses in Turkey include limited liability corporations, joint stock companies, and sole proprietorships.
Employment contracts, working hours, and employee perks must all be by Turkish legislation.
Rules for Taxes, Books, and Reports on the Economy
Businesses also need to follow tax, accounting, and financial reporting rules.
Getting Outside Help
You should get legal or professional assistance when setting up a corporation in Turkey due to the complexity and length of the process involved.
Organising and Preparation
It might not be easy to get a business off the ground in Turkey, but with the appropriate help and planning, it’s feasible.
To legally operate a business in Turkey as a foreigner, one must first register their company with the Turkish government. If you are a foreign national planning to engage in economic and commercial activities in Turkey (such as starting a restaurant or hair salon), you must get a business licence from the relevant authorities.
When starting a business in Turkey, whether for manufacturing, importing, exporting, or anything else, you must first register your firm with the Turkish government. The time and money required for the company registration process will vary greatly from one industry to the next.