Companies in Turkey are divided into several sections :
Joint stock companies ((small) ).
Limited liability companies ((medium)).
Unlimited liability companies ((larger than middle)).
Limited liability companies (major).
Most investors and small and medium-sized entrepreneurs prefer to establish a limited liability company. However, you can establish your company according to any classification you want, whether it is a joint venture, , or other type of company. In this article we will explain the steps to establish a limited liability company in Turkey where the minimum capital of the company is about 14000 Turkish lira equivalent to approximately 5000 Dollar .
Only one person or legal entity can establish a limited liability company in Turkey. This company can be managed by foreigners (need to obtain a permit and work permit), and the percentage of ownership in the company can be 100% for foreigners.
Establishment of the company: We always ask for help from a lawyer fluent in English or Arabic to conduct transactions and official papers , and we recommend hiring a trustworthy accountant to receive financial matters in the company you establish , generally any company can be established in Turkey within one week.
· The supporting documents required to establish a company in Turkey :
A copy of the passport is translated into Turkish and certified by Notter .
The tax code (vergi numarası) which can be easily extracted from the nearest tax center in your area .
Steps to establish a company in Turkey :
Preparation of documents and investments and ratification of the company’s incorporation by notary.
Deposit of 25% of the capital value of the bank .
Registration of the company in the Commercial Registry Office and Chamber of Commerce .
Submit the original copy in addition to two copies of the company’s Articles of Association to the Commercial Registry Office within 15 days from the date of authentication and certification of Notary .
For limited liability companies , they must comply with Article 279 of the Turkish Commercial Code .
The title of the company should be stated clearly and clearly in the system of incorporation . It should also be noted that the company’s incorporation system will be published publicly in the official commercial registry .
Once the company is established in the Commercial Registration Office, the company must be registered at the local tax office where the tax certificate is received, which must be displayed and clearly placed in the workplace.
The local tax officer will then visit your office or store within a few days to verify the information and tax certificate .
The Commercial Registration Office will notify the Ministry of Labor and Social Security of the establishment of the company and therefore all employees of the company, including the directors of this ministry, must be registered “social insurance”. All official papers of the company must be authenticated and authenticated by notary public on the same day of registration of the company .
Insurance: Social and pension insurance is mandatory in Turkey for all employees in companies, whether managers or employees. The company must pay insurance premiums periodically for every employee or employee in the company, where the value of insurance is 265 Turkish lira per month.
Your accountant must arrange and prepare all official papers and documents. If you do not pay the insurance for any reason, you will have to pay all outstanding amounts from the first day of incorporation (the date of your addition as a manager or employee of the company) Monthly salaries, do not forget to process the lease and hire a reliable accountant to manage the finances of the company.
Sectors with special regulations : The work in some areas or sectors such as banks, financial institutions, insurance, exchange companies and others are subject to the legislation and laws of the Turkish capital markets and must be registered in the Ministry of Commerce and Industry.
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