What is the process of establishing a business in Turkey as a foreign national?

Answers

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  Burçin Barlas

  Barlas Law Firm

  June 16, 2020

  It is possible to set up a company as a foreigner and the foreigner can also be the only shareholder of the company too.You will need passport copies and two photographs (passport size) of each shareholder/partner (in case the founder is a natural person) and the representative; the draft Articles of Association of the company to be set up, If the appointed representative is also a signature authority, 3 copies of the signature specimen of the company representative under the company seal. You also need a declaration of founders, power of attorney granted to the person who will set up the company; the original rent contract of the company to be set up that shall be drawn up in Turkish; a bank receipt regarding the arrival of the capital of the company; the forms required by the trade registry that have to be filled and ratified by the company. Once the company is established, the shareholder is granted one year of residence permit which can be renewed on a yearly basis as long as the company is active.

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  Fatih Barcin

  Tuncay & Barcın Law office

  June 17, 2020

  The principle of Turkish foreign direct investment law is equal treatment. Because of that, an international investor has the same liabilities and rights with a domestic investor. Turkey has introduced many reforms in foreign investment law with minimized costs and procedures. And after these reforms, you can establish your company within a few days. If you invest more than $500,000, you can directly apply for Turkish citizenship but if you do less, you need to apply for a work permit.

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  Hakan Avci

  UHB International Law office

  June 17, 2020

  Foreign investors are free to directly invest in Turkey. Foreign investors are treated equally with domestic investors. Regardless of having a legal personality, foreign investors may establish any company in Turkey. However, the ministry must approve the establishment of joint-stock companies in some areas of activity. You can also apply for Turkish citizenship if the investment is over $ 500,000 and if the amount is under $ 500,000, you can apply for a one-year residence permit.

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  Ibrahim Aslan

  Aslan Attorney

  July 01, 2020

  Turkey’s FDI Law is based on the principle of equal treatment, allowing international investors to have the same rights and liabilities as local investors. The conditions for setting up a business and share transfer are the same as those applied to local investors. International investors may establish any form of a company set out in the Turkish Commercial Code (TCC), which offers a corporate governance approach that meets international standards, fosters private equity and public offering activities, creates transparency in managing operations, and aligns the Turkish business environment with EU legislation as well as with the EU accession process. There are corporate and non-corporate forms for companies under the TCC. In addition, branches and liaison offices may also be considered as two further alternatives when setting up a business in Turkey. However, branches and liaison offices are not considered to be legal entities. Opening a company gives you the right to apply for a work permit, which allows you to apply for citizenship if you stay in Turkey for five years.