test – ÖZ İSTANBUL GROUP – WORLD BUSINESS POINT

COMPANY INCORPORATION IN TURKEY
GENERAL INFORMATION

Turkey’s impressive growth performance and structural reforms implemented over the past decade and a half have landed it on the radar of many international investors. According to FDI Markets, Turkey became the 9th most popular FDI destination with 160 projects in overall Europe in 2020, retaining its ranking in 2019, while increasing its share in overall Europe from 3 percent in 2019 to 3.1 percent in 2020, despite the severe effects of Covid-19. In addition, within its peer countries in emerging Europe, Turkey was ranked as the 2nd most popular FDI destination after Poland, with a 16 percent share in 2020, up from the 3rd spot in 2019.

ADVANTAGES OF OPENING A COMPANY IN TURKEY

Robust economy – One of the fastest growing economies in the world with an average annual GDP growth rate of 5.4% during 2003-2021;
Large domestic and regional markets – Sizeable domestic market, plus regional markets with FTAs allowing access to 1.3 billion consumers;
Strategic location – Regional HQ for multinationals with seamless global connectivity;
Favorable demographics – Young and dynamic population with half under 33.1 years old;
Skilled and competitive labor force – Well-educated, competitive labor force with high productivity;
Continuous reform process – New-generation reforms owing to an open public-private dialogue;
Liberal investment climate – No barriers for FDI, strong protection for investors;
Lucrative incentives – Tailored and comprehensive incentives schemes;
Advantageous R&D ecosystem – Perfect spot for technology development with generous supports;
Sectoral opportunities – Diversified economy with lucrative opportunities in many sectors..

STEPS OF ESTABLISHING A COMPANY

1. We prepare the company Articles of Association according to the following information:

a. Define the Type of Company.

Limited Liability Company (LTD)

b. Define the Scope of Activity.

At least need one main activity

c. Define the Company Shareholders.

Minimum 1 shareholder

d. Define the Company Directors.

At least 1 director

e.Define the Company Capital.

Min. 100.000 TL for LTD

Min. 500.000 TL or AS

f. Define the Company Address.

Each company must have an office address.If you do not need an office, we can provide you the office address.

Define the Company Name.

Company Full Name Format: Name + Scope of Activity (In Turkish Language) + Structure (LTD or AS).

2. We make your application in Company Registration Office and get the appointment date for the shareholders to sign the company Articles of Association in Company Registration Office withauthorized translators if the shareholders do not speak Turkish (If shareholders can provide us ÖZ İSTANBUL WORLD BUSINESS POINT Power of Attorney with Apostille, we can sign the Company Articles of Associations on the name of the shareholders without their existence).

3. Your company will be ready within 3 working days after signing the Power of Attorney for Company Registration And simultaneously in the next day after the company registration appointment date, company directors can visit the Turkish Notary to prepare the Company Representation Document called “Signature Circulars”. This document will allow the directors to represent the company in banks, in legal offices and against 3rd party companies and individuals. Also, in the same time, directors should authorize an accountant in notary to represent the company in tax authorities. (We do also provide accounting services)

4. The accountant applies to the Tax Office for Tax registration of the company. Tax Office will make a final check in Company Legal Address and company will become fully operational.

REQUIRED DOCUMENTS TO ESTABLISH A COMPANY

1. If the shareholders are individuals.
Passport Copy for shareholders and directors
Turkish Tax Number for shareholders and directors (we provide)
2 passport size photos for shareholders and directors.
2. If the shareholders are foreign companies (branch).
Turkish Tax Number for the foreign company (we provide)
Turkish Tax Number for directors (we provide)
The Certificate of Activity (certificate of good standing) of the company prepared by the relevant authority in the investor’s home country. This certificate should contain information about the current active status of the company and its signature executives *
Company Resolution (the draft will be provided by us) *
Power of Attorney for the establishment process by the shareholders (the draft will be provided by us) *
Signature Statement of the directors to be submitted to Trade Registry (the draft will be provided by us) *
*The abovementioned documents should be notarized and Apostilled or approved in any Turkish Consulate.