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Legalixa is an award-winning immigration law firm in Istanbul, Turkey with an exceptional success rate in almost every legal matter we have ever handled. Our company formation lawyers are prepared to assist your company formation in Turkey and inform you about the types of companies in Turkey.
We provide services to start your company in Turkey and other company governance services for foreign persons and companies. We’ve assisted clients from Europe, Asia, North & South America, the Middle East, Asia, GCC Countries, Baltic Countries, and Russia to start their businesses and their swift migration to Turkey. We have set up several companies for our clients and know their needs in Turkey very well.
Types of Companies in Turkey
We have established more than 260 companies for our foreign clients including Spain, UAE, Ukraine, Russia, UK, Morocco, Lebanon, Syria, S. Korea, Germany, Italy, Jordan, Vietnam, Poland, France, Pakistan, Brasil, China, Hong Kong, USA, Malaysia, Iran, Portugal, Norway, Canada, Saudi Arabia, Iraq, and Kuwait.
How Many Days Needed for Turkey Company Formation?
We can finish Turkey company formation and open bank accounts and get online banking in 1-2 days if partners are in Turkey and the company formation process will be faster and cost less.
We can complete Turkey company formation remotely if you are not in Turkey, however, the setup process will be longer and cost more.
1. Limited Liability Company
According to the Turkish Commercial Code, a limited company (LLC) requires a minimum of one partner and it can be a legal entity or a real person, there can be a maximum of 50 shareholders. The partner/partners can be Turkish or foreign as well. Foreigners can own 100% of a company and transfer their profit out of Turkey without any problems.
The minimum required capital for a limited liability company is 10,000. -TL (Turkish lira). The capital of the company shall be paid in two years and up to four installments.
2. Joint Stock Company
According to the Turkish Commercial Code, a joint stock company requires a minimum of one partner and it can be a legal entity or a real person. The partner/partners can be Turkish or foreign as well. Foreigners can own 100% of a company and transfer their profit out of Turkey without any problems.
The minimum required capital for a joint stock company formation in Turkey is 50,000. -TL (Turkish lira). 25% of the capital of the company shall be paid in advance and the remaining shall be in two years and up to three installments.
3. Free Zone Company
A Turkish Free Trade Zone is a specially designed production site that aims at increasing export-oriented investment and production in Turkey, accelerating the entry of foreign capital and technology into Turkey. Enhancing productivity and economies of scale and increasing the utilization of external financial sources and trade opportunities.
Although a Free Trade Zone is within the boundaries of the Republic of Turkey, it is treated as if it were a territory abroad. National regulations relating to foreign trade, and financial and economic areas are partially applicable to Free Trade Zones. There are 18 Free Trade Zones in Turkey and their annual trade volume amounted to more than $ 23 billion in the year 2022.
4. Liaison Office in Turkey
Please be informed that liaison offices cannot carry out any commercial activities in Turkey. If your company aims to generate sales, then a limited, joint stock company or a branch office are your options for your company.
In Which Fields a Liaison Office can be Established?
- Representation and Hosting,
- Control, Inspection, and Provision of Suppliers in Turkey with regards to Quality and Standard,
- Technical Support,
- Communication and Transfer of Information, and
- Regional Management Centre
The Director of the liaison office can get a work permit without needing 5 Turkish employees. However, when we file our application there must be 200,000 USD deposited in the liaison office bank account in Turkey. We can prepare and file your work permit application.
5. Company Branch Formation in Turkey
A Turkish branch office or a non-Turkish company branch has autonomous capital and accounting to carry out commercial transactions with third parties, although they are closely associated with the parent company in respect of internal management. This means that rights, debts, profits, and losses of the branch offices are assumed by the parent company.
A branch office can only engage in activities of its parent company. It cannot provide goods and services or engage in any commercial activities that are not specified in the parent company’s articles of association. Although there is no legal capital requirement for branch offices, it is required that the incorporating company maintains a capital sufficient to run the branch office in practice.
In order to set up a branch office in Turkey, we will file our application with the below documents at the Ministry of Trade in Ankara. Once the branch office license is granted, then we will proceed to finalize formation procedures at the local chamber of commerce and the tax office.
Reach us for Types of Companies 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 types of companies in Turkey by sending an email or through the Contact page.