Company registration is the state registration of an organization planning to carry out business activities in Turkey. Any individual and legal persons have the right to register a company in Turkey. You, yourself can apply for company registration in Istanbul, Turkey directly, or through your lawyers. As ACON Law Firm, we are pleased to provide you with our professional legal services related to company registration in Istanbul, Turkey.
We hope that this blog post, we will inform you properly about the current requirements and procedures for company registration in Turkey. Feel free to write to us if you will have any questions.
I. Requirements for company registration in Istanbul, Turkey.
We have good news for you! In Turkey, there is no any minimum authorized capital requirement for the Company Registration. That is, you can state register your company with any minimum authorized capital. To register a company in Turkey, you simply need to prepare the required documents, pay the fees and apply accordingly. What documents do you need to submit for company registration in Turkey? Well, for company registration in Turkey, it will be enough for you to simply submit your passport, registration application, the decision on the establishment of the company, and the charter of your company. You should take into account that the founding documents of your company should be in the Azerbaijani language only. Drafting documents in Turkish and all these formalities is a factor that creates difficulty for foreigners. Therefore, it will be beneficial for you to entrust the legal proceedings related to company registration in Turkey to our lawyers. In such a case, you simply submit a power of attorney and the entire process of company registration is carried out professionally by our lawyers.
II. The process of company registration in Turkey.
We can say with certainty that the process of company registration in Azerbaijan is a very easy and time-saving process. Initially, you or your lawyer prepare the founding documents of your company in accordance with the law. After that, you pay the fees and apply for state registration of your company in Azerbaijan. State registration of a company (for the Limited Liability Company) in Istanbul, Turkey takes only 2-3 working days. The registration of companies in Azerbaijan is carried out by the State Tax Service.
How to register a company in Turkey?
Step 1: Prepare your company’s constituent documents.
When you apply for company registration, you must submit your identity document (passport, ID card, etc.), application and your company’s founding documents. When we say founding documents, we mean the Charter of your company and the decision on its establishment. You must also fill out the application form for the registration of your company.
Step 2: Pay the state fees and the authorized capital.
After preparing the incorporation documents for the registration of your company in Turkey, you need to pay the required state fees and authorized capital. As we mentioned above, in Turkey, no minimum authorized capital is required for the state registration of the company. This means that you can determine the authorized capital of your company in any amount.
Step 3: Apply for the Company Registration.
You can apply for the State registration of your company in Turkey online or offline. However, you should take into account that for online registration, you must have an ASAN IMZA (Digital Signature). In order to obtain an ASAN IMZA (Digital Signature), you must have a temporary or permanent residence permit in the Republic of Turkey. If you do not have a residence permit in Turkey, you cannot apply online. However, there is nothing to worry about. After preparing the constituent documents and paying the fees as mentioned above, you can apply offline through paper carriers. Your company will be registered in just 2-3 working days after applying.
Do not hesitate to contact us if you need legal services related to all these processes.
Step 4: Start Business Activity.
So, after your company is registered, you can apply for opening bank accounts for your company. Also, you can rent space and hire employees. In short, your business is ready to operate. However, be sure to keep in mind that although most business areas do not require any permits, for some business areas, obtaining licenses is necessary to start operations. If the business area you want to start requires obtaining a permit, you can start operating only after obtaining a license.
The legislation of Turkey requires companies to have the appropriate licenses and permits to engage in certain business activities. In other words, state registration of a company is not enough to operate in some areas of business in Turkey. Companies are also required to obtain licenses and permits. In case of engaging in business activities without obtaining appropriate permissions creates legal liability under the law.
So, we do not recommend ignoring this necessary step, even if the activity of obtaining a license is a legal procedure with relative difficulty. It is substantial in insuring your business from legal risks and financial losses.
The ACON team would be pleased to be with you in all legal processes related to company registration in Turkey!
- ACON – Law and Investment, Doing Business in Azerbaijan – How to start a business in Azerbaijan: https://acon.az/doing-business-in-azerbaijan/
- ACON – Law and Investment, Registration of Branch and Subsidiary Company of Foreign Company, https://acon.az/registration-of-branch-of-foreign-company-and-subsidiary-company/ (2022).