Legalixa Law Firm is a full service Turkish Law Firm with a long record of excellence and professional leadership in Istanbul, Turkey. Our Turkish company formation team is prepared to handle your liaison office formation in Turkey. Our lawyers are experienced in liaison office formation, branch office formation, free trade zone company formation, joint stock company, joint venture formation, limited liability company formation, holding company formation, and company management and governance. Legalixa Law Firm is a progressive, full-service Turkish law firm comprised of talented and effective attorneys who are dedicated to serving their client’s legal needs in Istanbul, Turkey. Based in Istanbul’s new Atasehir Financial District, Legalixa Law Firm is able to protect its clients’ rights throughout Turkey.
Liaison Office Formation in Turkey
Companies established in accordance with laws of foreign countries can open liaison offices in Turkey provided that those offices do not carry out any commercial activities in Turkey. So as to open a liaison office in Turkey, the relevant company has to apply to the Directorate General of Foreign Investments of the Undersecretariat of Treasury.
Applications for establishment and extension are to be finalized within 5 days following the application provided that the necessary documents are complete and proper. Applications of foreign companies to establish liaison offices so as to operate in sectors subject to special legislation such as money and capital markets, insurance, etc. are assessed by the relevant regulatory and supervisory authorities.
Application Documents for Liaison Office Formation in Turkey
The following documents have to be submitted to the Directorate General for establishing a liaison office in Turkey:
- The original copy of Certificate of Activity approved by the related Turkish Consulate or approved in accordance with the provisions of the Convention on the Abolishing the Requirement of Legalization for Foreign Official Documents Approval Obligation, prepared on the basis of the Hague Conference on International Private Law,
- Operational report or balance sheet and income statement of the main company,
- The original copy of power of authority issued to the name of the person who is appointed to carry out the operations of the liaison office,
- The original copy of power of attorney in case that another person will carry out the establishment transactions of the liaison office.
After an establishment permit is granted by the Directorate General of Foreign Investments, the relevant Liaison office is supposed to register to the local tax office and to send a copy of the tax office registration document to the Directorate General latest within 1 month.
Periodically informing the undersecreariat of Treasury
Liaison offices are supposed to provide the Directorate General with the followings every year latest until end of May so as to inform the authority about their activities of previous years. Documents certifying that the previous years expenses of the office have been covered by foreign currency transferred from abroad have to be enclosed as well.
Duration of operation permits and the extensions
Liaison offices are granted operation permits for 3 years at most. For extensions, successive extensions of maximum 3 years each may be granted by taking into consideration the activities of previous years and plans and objectives for the future.
Termination of Activities
In case a liaison office terminates its activities, the termination and examination of business note to be received from the related tax office has to be submitted to the Directorate General of Foreign Investments. Liaison offices cannot claim any money transfer except the residue arising due to termination or liquidation. The Undersecretariat might cancel the permits of liaison offices in case the offices are found to have violated the legislation.
Turkish Company Formation Procedures
Legalixa Law Firm has one of the preeminent company formation and governance practices in Turkey, drawing upon the expertise of our corporate, securities, governance, litigation, and compensation specialists to provide our clients with the information and analysis needed to respond to a rapidly changing regulatory environment.
We maintain a unsurpassed practice counseling and representing large and small companies and boards of directors regarding entity formation and corporate governance matters. We advise our clients on all matters concerning formation of new entities from corporate formalities to tax issues.
Our services with respect to company formation include advising and drafting documents in connection with the formation of corporations, limited liability companies, and Turkish liaison offices. We provide targeted advice with respect to both the choice of entity and Turkish laws under the entity is to be organized. Our clients range from small private companies with no internal legal staff to large public companies with their own internal compliance teams. For each of our clients we tailor our approach to that client’s unique requirements.
In many circumstances, advice concerning entities relates to larger, more complex transactions, including joint ventures among owners and developers of intellectual property, capital equipment manufacturers and those deploying that equipment, owners and developers of real property or energy interests and developing businesses and those providing capital to them. In all of those situations our attorneys’ ability to call upon the resources of the Firm’s other practice areas is of value to clients. In conjunction with our employee benefits, labor and tax attorneys, we assist clients with employment agreements, stock option, retirement and other employee benefit plans.
Reach us to Liaison Office Formation in Turkey
Since its foundation, Legalixa Law Firm has been the choice of numerous clients in Turkey. We’ve always worked differently than other law firms. We are committed to remaining forward-thinking and preparing for the dynamically changing world of business law. You may reach our law firm for liaison office formation in Turkey by sending an email or through Contact page.