Turkey is an attractive choice for investors looking to start a new venture or expand their business. The favorable investment environment, strategic location, and supportive policies all make Turkey a promising destination for entrepreneurs. If you’re considering establish a company, here are the key steps involved in the process.
Choose the Type of Business Entity
While establishing a company in Turkey, you can choose from different types of business entities. Each business structure comes with its own set of legal requirements and implications. The most common options include Limited Company, Collective company, Cooperative company, and Joint Stock company. Choosing a business entity depends on a number of factors such as business goals, liability, capital, and management.
For Instance: Joint-stock Company is a better choice. For a large business with multiple shareholders due to its higher capital requirements and stringent reporting standards.
Choose a Company Name and Get it Approved
After deciding the type of entity to establish, you need to prepare the necessary documents to start the registration process. You also need to select a unique and appropriate name for your company. Get it approved by the Trade Registry Office. To ensure the desired name is available conduct a search on the Turkish Trade Registry Gazette.
Drafting Articles of Association (AoA)
It is the key document that defines the internal regulations, rights of shareholders, and overall structure of the company. The Articles of Association also hold information about the name, purpose, shareholders directories, and capital of the company.
Company Registration with Relevant Authorities
To register your company, you need to submit documents. Such as Notarized Articles of association, passport copies of shareholders, residence addresses of shareholders, proof of company address, chamber of commerce registration form, and bank deposit receipt to the local trade registry office. After reviewing the submitted documents. You will receive a registration certificate. Which is the document proving the legal existence of your company.
Obtaining licenses and Permits for your Company
Depending on the sector or industry. You are operating you need to obtain certain permits and licenses. For each industry such as tourism, education, manufacturing, energy, and health. You need to get specific licenses. You can get in touch with a law firm to exactly know the licenses. Permits you need to obtain for the smooth functioning of your company.
Open Bank Account for Your Company in Turkey
You also need to open a bank account to establish a company in Turkey. For your company bank account, you can choose any bank that operates in Turkey that offers corporate services.
These are the key steps to establish a company in Turkey. For help in establishing your company. You can hire company lawyer in turkey or a consultancy that will assist you in all aspects of the process. A legal firm can help you prepare all the documents for set-up your company in Turkey. They will also obtain the required licenses for your company to function smoothly. With the right planning, adaptability, and persistence establishing a company in Turkey can be a rewarding experience.