4 Tips for Establishing a Company in Turkey
If you are planning to establish a company in Turkey, you should seek for a professional advice. You may heard so many advices and tips for establishing a company in Turkey and choosing among one of them can get very confusing. As professional advisors, we suggest you to follow these key steps:
1. Choose the Legal Entity Type Appropriate for Your Business
A Turkish company can be established with 100% foreign capital without any capital or management contribution from Turkish participants. All corporate forms are open to foreign investment; joint stock or limited liability companies are generally preferred by international inventors, along with branches and liaison offices.
A limited liability company (Ltd.) is a popular company type for especially startup businesses. However, joint stock companies have some significant advantages such as tax free transfer of shares under some conditions.
You can find more detailed information about types of legal entity in our guide’s related part or you can contact with our team for further assistance.
2. Pick a Title of Your Company
Every business owner needs to pick an available title for the company. The title of the company needs to end according to the legal entity’s type (such as Limited Liability Company or Joint Stock Company). The title must be distinguishable from all active companies and cannot contain some terms that are prohibited by laws.
Our team can help you to check availability of the company title that you are planning to pick.
3. Have an Address for Your Company
Office address is a must for company establishment. Rent contract is one of the most significant document that is asking by tax authorities for company establishment. Apart from legal obligations, your company’s registered address is important in terms of trust and confidence. You can use virtual office for your company’s address.
We can help you to provide registered office address for your company in a cost effective way.
4. Prepare the Articles of Association
Article of Association must be prepared for every type of legal entities. Although more or less minimum requirements are similar, contents of article of association are different for each legal entity. A proper article of association should minimum include followings:
- Title of the company
- List of shareholders
- Address and business purpose of the company
- The amount of capital and the amount subscribed by each shareholder
- The amount of share capital
- The nominal value of each share
- The mode and terms of payments
- The mode of convening the general meetings
- Dates and times of meetings and conditions concerning voting