Turkey’s Foreign Direct Investment Law is allowing International investors to have exactly the same rights and liabilities same as local investors.
Foreign investors may establish any form of company set out in the Turkish Commercial Code (TCC) which meets with international standards. Turkey has made some reforms in order to increase the investment environment with minimizing costs and procedures. Setting up a company is now carried out at Trade Registry Offices locates in Chambers of Commerce.
When establishing a company in Turkey, one needs to comply with the following rules and regulations:
• Pursuant to the Trade Registry Regulation, trade registration transactions must be fulfilled through MERSIS (Central Registry Record System)
• Execute and notarize the company documents
• Obtaining a tax identity number
• 0.04 percent of the company’s capital must be paid to the account of the Competition Authority via Trade Registry Office pay office.
• 25 percent of the subscribed share capital must be paid prior to the new company registration
• Apply for the registration at the Trade Registry Office
• Certify the Legal Books
• Follow up with the Tax Office on the Trade Registry Office’s company establishment notification
• Issuance of signature Circular
If you are planning to establish your business in Turkey, please call our Turkish lawyers based in our Head office (London) to get further information. Our Turkish solicitors are all based in the United Kingdom and would be happy to help.