0212 290 62 77 (pbx)

Address: Giz 2000 Plaza, Ayazağa yolu, No:7 Kat:12 34398 Maslak - İSTANBUL

Telephone: 0212 290 62 77 (pbx) - E-Mail: lawyers@basalan-law.com.tr

Process To Establısh An Enterprıse In Turkey

The legal arrangements in Turkey which is offered to the investors, make the environment convenient for establishing a business. It is possible to establish a business in one day whether you are Turkish or not or living in Turkey or not. The registration and foundation processes can be completed in one day in Turkey. 

These processes are conducted by a ministry which coordinates all the official authority. The initial step for setting up a business in Turkey is possible by filling “Business Registration Form’’ in the Trade Registry Office which is included by Local Chamber of Trade. 

The Following steps will be taken:: 

•  Submission of Notarized ‘‘corporation charter’’
•  Depositing the 0.04% percent of the company capital to Turkish central bank or State bank.
•  Filling the ‘‘corporation form’’ and registration in Trade Registry Office. International corporations can be initiated their activities in Turkey in several ways accordance of their strategy of investment enhancement. 
The most common business types in Turkey: 
•  Limited company 
•  Incorporated company 
•  Branch company 
•  Liaison office 

Why doing investment in Turkey?

The scope of foreign investor in Turkey includes the companies and organizations registered out of Turkey, the person who is not a Turkish citizen and Turkish citizens who have the domicile document or work permit that shows they residence out of Turkey. 

New investment approaches

Direct Foreign Investment Law was enacted in 2003 in order to encourage the foreign investors which brought structural changes but the fundamental changes are achieved by changing from the elimination regime to tracking system and from obligation of prior authorization to obligation of informing. Investment advisory of council and coordination committees are established for the purpose of supporting and coordinating the foreign investment. 

These structural changes increased appealing for the investment potential of Turkey which have population of enormous 70 millions ,dynamic and growing economy, broad internal market, qualified labor force, advanced liaison and banking sectors, EU customs union ,elevating international investment and the interview for the full membership of the European Union. Turkey has also unique tourist facilities and the potential of being spot to store and distribute the international trade of Caucasus, Central Asia and Middle Eastern countries. .  

Investment incentives Improvements introduced by new law 

•  All the rights and obligations for domestic corporation is validated to the whole foreign investors recognized as Turkish company by disable the obligation of prior authorization for investment and establishing a corporation .

•  Existing investment rights continues to be vested.

•  Adjustment to the International standards, International Arbitration.

•  The scope of foreign investor includes Turkish citizens who residence out from Turkey additional to corporations and organizations which is registered out of Turkey and the person who is not a Turkish citizen.

•  The exemptions from custom tax and value added tax that iş issued for some machines and materials. 

•  The exemptions from income tax and social security tax of employer.

•  The exemptions from the custom taxes of imported goods with corporation and revenue taxes from the exportation fields of Free Trade zones and disable the obligation about the ages of imported machines 

•  Protections against the condemnation, providing real property right except from the conditions included in the local law and international agreements related with the constitution 

•  Foreign investor can be transferred the revenues of the activities in Turkey from Turkey to abroad easily.

The Advantages of the Investment in Turkey can be generated as Follows:

•  Turkey is a country which has growing Gross National Product approximately 122% in recent 4 years 

•  A big market that has the population of 70 million with the age average is approximately 29 years old.

•  Domestic market growing rapidly

•  Having the potential of labor force which is the largest in the Europe, in quality 4 and with cost advantage.

•  Located in the crossroads of the continents as a strategic location.

•  An energy bond between the East and the West 

•  Membership of the Customs union since 1996.

•  One of the most appeal country that is available for investment according to the result of an international survey conducted in 2006.

• Liberal ve reformist bir yatırım iklimine sahip olması.

•  Having liberal and reformer investment region

•  Tourism country which have the convenient climate and the potential. 

•  Popular country which is preferred by approximately 25 millions of tourist as destination

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