Turkey Company Registration Services
Turkey has an economy that is expanding rapidly in the world and is projected to be one of the fastest growing economies in 2017 and moving forward. The country has an institutionalized economy that has been boosted by foreign direct investment and today, Turkey is ranked as the 13th most attractive destination globally when it comes to foreign investment, according to the FDI Confidence Index.
What Are the Advantages of Registering a Company in Turkey?
One of the reasons why investors are becoming keen on investing their new ventures in Turkey is because of the ease of the process. A Turkish limited liability company can, for example, be incorporated in the span of a week with the help of the right company registration services enlisted. A company in Turkey is also allowed to be fully foreign owned, and a company can be registered and incorporated with a minimum of one director and one shareholder of any nationality, which is a big advantage for foreign investors who may not necessarily want to relinquish control of their company yet.
Company registration in Turkey under the Free Zone is a company that is fully exempt from all taxes, and this includes corporate tax, VAT and customs duty. Free zone companies in Turkey can have free repatriation of their profits back to the parent company, which is another reason why Turkey is appealing as an investment destination.
With its young population, Turkey is in a prime position to offer the necessary labour skills that are needed by companies who choose to set up a base here. Entrepreneurs will have their pick of top-quality candidates as many students in Turkey graduate annually from top local universities.
Ranked as the 20th best country in the world when it comes to the protection and privacy of investors, Turkey is able to boast of a strong legal system that enforces property rights throughout the country. Investors who choose to register a company in Turkey will not be required to submit their personal details for public record, reinforcing the desired privacy levels that some companies may be seeking.
The Company Registration Process in Turkey
Hiring the help of professional company registration services who specialize in establishing companies in Turkey will provide you with the best possible guidance to navigate this aspect smoothly. The company registration process in Turkey can be summarized into the following steps:
- Step 1 – Investors will be required to submit the memorandum and articles of association online at MERSIS so that they will be able to obtain a TIN.
- Step 2 – Investors would need to execute and notarize all required company documentation
- Step 3 – A percentage of the capital will need to be deposited to the account of the Competition Authority
- Step 4 – 25% minimum of the startup capital would need to be deposited in the bank and proof provided thereof
- Step 5 – Registration at the Trade Registry Office
- Step 6 – Get the legal books certified by a Notary Public
- Step 7 – Conduct a follow up with the tax office on the Commercial Registry’s company establishment notification.
Need guidance on registering a company in Turkey successfully? Contact us at 3E Accounting today and let our panel of experts guide you through the incorporation process so you can be on your way to business success.