Starting a company in Turkey as a foreigner can be a complex and time-consuming process, but it can also be a rewarding opportunity to tap into the country’s growing market and diverse economy. In this blog post, we will go over the steps you can take to register a company in Turkey as a foreigner, including the required documents, processes, and any special considerations you should be aware of.
Why register a company in Turkey?
Turkey is an attractive destination for foreign investors due to its strategic location, skilled labor force, and favorable business climate. The country has a diverse economy that ranges from traditional sectors such as agriculture and manufacturing to emerging industries such as technology and tourism. By registering a company in Turkey, you can take advantage of these opportunities and establish a presence in the country’s market.
How to register a company in Turkey?
There are several steps you can take to register a company in Turkey as a foreigner:
- Choose a legal structure: There are several legal structures you can choose from when registering a company in Turkey, including a limited liability company, a joint-stock company, or a branch office. Each structure has its own advantages and disadvantages, so it is important to choose the one that best fits your needs and goals.
- Prepare the required documents: Before you can register your company, you will need to prepare a set of documents that will be required by the authorities. These documents may include a business plan, articles of association, proof of address, and identification documents for the founders.
- Register with the Trade Registry: The next step is to register your company with the Trade Registry, which is a government agency responsible for registering and regulating businesses in Turkey. You can do this by submitting the required documents and paying the registration fee.
- Obtain a tax number: After registering your company with the Trade Registry, you will need to obtain a tax number from the Tax Administration. This number will be used to identify your company for tax purposes and is required for various business activities in Turkey.
- Register with social security: As an employer in Turkey, you will also need to register with the Social Security Institution and provide coverage for your employees. This process involves obtaining a social security number for your company and making contributions to the institution.
- Obtain any necessary licenses and permits: Depending on your business sector, you may need to obtain additional licenses and permits to operate in Turkey. For example, if you are operating a restaurant or a hotel, you will need to obtain a license from the relevant authorities.
Work permit through registering a company in Turkey
As a foreigner, you may also need to obtain a work permit to operate your company in Turkey. One way to do this is through the “1-5 Rule,” which allows foreign investors to obtain a work permit if they own at least 51% of a company that employs at least five Turkish citizens. Alternatively, you can appoint a Turkish managing director to obtain a work permit on your behalf.
Conclusion
Starting a company in Turkey as a foreigner can be a complex and time-consuming process, but it can also be a rewarding opportunity to tap into the country’s growing market and diverse economy. By following the steps outlined in this blog post and preparing the required documents, you can successfully register a company in Turkey and start your business journey.
