EryılmazCPA - Accounting Servicess / 2024-05-31




        Turkey is a country preferred by many entrepreneurs in the world to do business, with its advantages such as qualified personnel, geographical location, large economy and lower cost labor supply compared to European countries.


        In Turkey, company establishment procedures for foreign investors are easy and very low-cost. Foreign entrepreneurs can easily establish companies and engage in commercial activities with their passports.



Where should I start to establish a company in Turkey?


1- To establish a company in Turkey, you must first meet with a certified public accountant (CPA)experienced in foreign investors. You should receive an offer for the company's establishment process and monthly accounting services.


2-  You need a workplace adress to company formation in Turkey. If you don't need a real workplace you can rent a virtual business adress witl low charges.


    Note: Our company providing turnkey packed company formation service. We are helping you for all business needs in Turkey; company establishment, accounting & bokkeeping, tax services audit service, virtual business adress, payroll outsurcing , trademark registration service and consulting services.


    So, if you come our office with your passport enough. We are preparing necessary documents. We are making all legal process. We are establishing your company as turnkey.


   Since our services are offered in package form, they are very cost-effective.



Can a foreigner start a company in Turkey?


Yes. Foreign country citizens can establish company in Turkey.  Turkish government supporting of foreigner entrepreneurs. The company establishment procedures for foreigners in Turkey are kept easy and simple.


The minimum legal requirements for a foreigner to establish a company in Turkey are as follows;

1- Passport

2- Company/business address

3- Agreement with a certified public accountant (CPA) for bookkeeping process - minimum one year



What is the minimum capital to establish a company in Turkey?


       For limited liability company LLC ; 50.000 TL . Minimum.  No capital is required in the first stage to establish a limited  company. After establishing the company, you can open a bank account. And according to the law, you can deposit it into the company's bank account within two years.


        For joint stock company JSC - INC ; 250.000 TL . Minimum.  During the establishment of the company, at least twenty-five percent of the capital (62.500 TL) must be ready and blocked in the bank.



Can a company (legal entity) registered in another country establish a company in Turkey?   


Yes. Companies (legal entity) registered in another country can establish a limited company in Turkey.


In order for a company registered in a foreign country to establish a company in Turkey, it is necessary to appoint a real person representative. The real person representative is authorized to carry out business and transactions on behalf of the legal entity.


On the other hand, it is a bit complicated and a bit expensive for a company registered in a foreign country to establish a company in Turkey. Because, all approved official documents are obtained from the country where the company is registered, and these documents are translated into notarized Turkish.


You can write to us on WhatsApp for current cost and price offer.


How much company formaiton cost in Turkey 2024 ?


Türkiye'de şirket kurmak için oluşan gider kalemleri ; Ticaret odası kayıt giderleri , noter giderleri, tercüman giderleri ve profesyonel servis giderleridir.


1- Trade registry charges ;  These expenses are paiding to the chamber of commerce and can vary based on the company type and capital. What is the trade registry charges of setting up a company in Turkey in 2024 ? The total amount of the trade registry of establishing a company in Turkey is   ₺7.600  = 240$ around.


2- Notary Charges; There will be notary expenses for documents such as passport translation, company manager signature circular, accountant's power of attorney. These costs vary depending on criteria such as the number of documents and translation.


3- Company establishment service fees: The company establishment service fee is determined according to the total transaction volume and criteria such as the number of partners of the company, the status of the partners, the number of managers, and the type of the company. Please ask offer.


4- Virtual office service fees (If you need) : It is determined according to the services to be received and the characteristics of the service.


You can always contact us to find out the current costs specific to your business.



Which Country Citizens Can Set Up a Company İn Turkey ?


     Turkey supports foreign entrepreneurs and facilitates company establishment procedures. Citizens of all countries can establish a company in Turkey with their passports.


      In general, there are no restrictions on foreign entrepreneurs' countries or commercial areas in which to operate.


      On the other hand, there may be special regulations and requirements for foreign investors in sectors such as banking transactions, insurance transactions, energy sector, healthcare sector, security sector and telecommunications. In addition to establishing a company in these sectors, it may be necessary to obtain a license or authorization certificate from the relevant authorities.


     Therefore, when establishing a company in Turkey, it is important to work with an experienced certified public accountant (CPA).



Can a bank account be opened for the company after establishing a company in Turkey?


        Yes. According to the law, a company to be established in Turkey is a separate legal person. And the company manager can open a bank account for the company.


       But, some banks may require some additional procedures from foreign entrepreneurs, due to their internal policies. Or, busy bank branch employees may be reluctant to open accounts for foreigners.


     On the other hand; There are approximately 50 -60 registered banks in Turkey.  There are many banks that can assist foreign entrepreneurs in opening accounts.


      We are preparing all documents for open bank account for company after company establishment.



How long does it take to company formation in Turkey ? 


      Company establishment procedures in Turkey are a process that takes an average of three or four business days unless there is a special situation.


       In order to complete the company establishment process smoothly and quickly, working with a team experienced in these matters is one of the most important issues.


       We have previously established companies of more than a hundred foreign entrepreneurs in Turkey.


    It is sufficient for the entrepreneur to come to our office with his passport. We prepare all the necessary documents. We ensure that the company is fully established within three or four business days.  We help you with all your needs with our package solutions.



Can I establish a company in Turkey without going to Turkey?


Yes. It is possible to establish a company in Turkey without going to Turkey.


However, company establishment costs will increase slightly due to the issuance of documents in your own country, their Turkish translation and notary approval.


We can establish your company in Turkey without your arrival, with a power of attorney that you send along with the necessary documents.


The documents required for this are as follows:

1- Passport copy - Notarized and aposstilled.

2- Power of attorney - Notarized an apostilled.

3- Three picture - Background white.


    If there is no apostille approval in your country, you can have the documents approved by the embassy of the Republic of Turkey instead.


     Establishing a company with this method is a bit long and costs are a bit high. The easiest and cheapest way to establish a company is to come to Turkey.



What are the monthly expenses of a company in Turkey?

After establishing a company in Turkey, the company will have some expenses every month, even if it has no operations.


 Some of the company's monthly expenses are as follows:

1- Stamp duty on VAT declaration - every month

2- Stamp duty on income tax return - every three months

3- Withholding tax - every three months

4- accounting & virtual office service fee - every month

5- certification expenses of company books - once a year.




You can always contact us to complete your company establishment process in Turkey smoothly and safely.