How to open a company in Turkey
The Turkish government issues legislations that are very comfort to foreign investment. There are many government programs for the development of small and medium-sized businesses, and usage of these programs enterprises not only local capital, but also foreign. Today in Turkey there are more than 15 000 companies with foreign capital. Here there are major companies of the world market: the Japanese Toyota, Honda, American Ford, P & G, Philip Morris, the French Renault, Cement Fransaise, German Bosch, Mercedes, Siemens, Italian Pirelli, Fiat and others.
Moreover while the opening of business the foreigner gets the same rights, privileges and subsidies as a Turkish counterpart: you need only remember that the responsibility is the same as of a Turkish citizen.
To open a Ltd Company you need at least 1 foreign citizen, registration lasts about 2 weeks:
1. 2-3 days you need for the collection of primary documents: translation of documents from a licensed translator, notary, obtaining a certificate of registration of a foreign citizen at the place of residence.
2. 2-3 days registration of the LTD Company in the Chamber of Commerce.
3. Within 8 days comes the answer from the Trade Registry Office after applying with the required documents.
Types of companies:
Joint stock companies, such as:• Joint Stock Company A.Ş.
• Limited Liability Company Ltd. Şti.
• Commandite company
• Collective Enterprise
• Cooperative society
Joint stock company
Company's share capital is divided into shares, the liability of shareholders is limited to subscribed capital and paid shareholder. At least one shareholder (natural or legal person) and a minimum capital of 50,000 YTL are mandatory. A prerequisite for the company is the general meeting and the board of directors.
Limited Liability Company
This is a company in which there is at least one shareholder (natural or legal person), and shareholders' liability is limited to subscribed capital and paid shareholder. Minimum capital of YTL 10.000 is imperative.
Limited company
This is a company organized for the implementation of business management under the brand name. The responsibility of certain shareholders is defined as a dedicated and paid their share of the capital, and for some shareholders limitation of liability is not provided. The minimum capital is required. Rights and obligations of shareholders are determined by the articles of association of the company.
Collective company
This is a company organized for the implementation of business management under the brand name, and the responsibility of all shareholders is not limited only by the size and dedicated to their paid share capital. The minimum capital is required. All shareholders must be individuals. Rights and obligations of shareholders are determined by the articles of association of the company. Procedures for the establishment of the company
You need to prepare three copies of the notarized articles of the company (the original one copy). Not later than 15 days after the notarization Charter company must submit an application to the appropriate representation of the Bureau of the trade register with said further set of documents.
