Establishing a Company in Turkey in 6 Steps

Establishing a Company in Turkey in 6 Steps. Establishing a company in Turkey offers many opportunities! Turkey is an attractive place for entrepreneurs due to its strategic location, growing economy, and large domestic market. You can follow the steps below to set up a company:

1. Choosing the Company Type

The choice of which type of company to select is determined by its purpose, managerial differences, and product/service commitment. There are five different types of companies in Turkey: joint-stock company, limited liability company, collective company, commandite company, and cooperative. Sole proprietorship, limited liability company, and joint-stock company are the most commonly used types of companies. Sole proprietorship is a type of company that can be established and managed by a single person. A limited liability company is a type of company that can be established by at least two partners and where the partners have limited liability. A joint-stock company, on the other hand, can be established by at least five partners and the partners have limited liability. It is recommended to consult with an accountant to make a decision on which type of company to choose

2. Determining a Company Name

To determine a company name, factors such as the company’s purpose, management differences, and product/service relevance should be taken into consideration. The company name should be memorable and easy to spell. It should reflect the company’s corporate identity and provide information to customers about the product/service. Factors such as the company’s target market and tone should also be considered in the process of naming the company. Professional companies can be consulted for assistance in choosing a company name. The process of choosing a company name should be carried out with great care to find a name that will contribute to the company’s recognition.

3. Applying to the Tax Office

Applying to the Tax Office is a necessary step to complete the registration of your company with the tax authorities. By applying to the Tax Office, you can utilize the easier services available at this stage and expedite the operation of your company. The steps required to apply to the Tax Office are as follows:

1. Enter Your Tax Identification Number and T.C. Identification Number: You need to enter your tax identification number and T.C. identification number.
2. Download Application Forms from the Internet Tax Office Application: You can apply by using the application forms available on the Internet Tax Office Application.
3. How to Apply for Online Tax Certificate and Track Your Application: You can apply for a tax certificate and track your application online.

4. Applying to the Trade Registry Office

You can create or update your company’s registration by applying to the Trade Registry Office. The Trade Registry Office keeps commercial records of businesses and ensures the official registration, notification of changes, and monitoring of commercial activities of companies. Before applying, you can follow the steps below:

Prepare the relevant documents: To apply to the Trade Registry Office during the establishment phase, you will need certain documents. Generally, documents such as establishment certificate, company agreement, founders’ identification cards, and signature declaration are required. You should prepare these documents accurately and completely.

Fill out the application form: Obtain the application form from the relevant Trade Registry Office’s website or local office. It is important to provide complete and accurate information when filling out the form.

Pay the necessary fees: Application procedures are usually carried out for a fee. By paying the required fees, you can complete your application.

Submit your application: After preparing the application form and relevant documents in a complete manner, send your application to the Trade Registry Office. It may take some time for your application to be reviewed and your registration to be created.

Remember, it is important to comply with the legal requirements of applying to the Trade Registry Office and registering your business. Additionally, to verify the accuracy of the documents and avoid any issues during the application process, we recommend accessing up-to-date information from the local Trade Registry Office or seeking professional services for easier company establishment in Turkey.

5. Tax Registration and Estimated Declaration

Tax registration and assessment statement are the procedures that taxpayers need to follow to fulfill their tax obligations. Here are some basic information about these topics:

Tax Registration: Tax registration is the process of officially recognizing a business or individual as a taxpayer. Taxpayers are obligated to pay taxes to the government, and without tax registration, they cannot submit tax returns or make tax payments. Tax registration marks the beginning of the taxation process and is typically done by applying to the local tax authority. During the application process, specific documents and information may be required based on the type of business and local tax laws.

Assessment Statement: An assessment statement is a document used to declare the estimated value of a good or property for the purpose of taxation. Assessment statements are commonly used in real estate transactions and are presented during title deeds procedures. They are used to determine the actual value of the good or property and calculate taxes based on that value. The value stated in the assessment statement is used in tax assessment processes after approval by the tax authority.

These procedures are subject to tax laws and local tax regulations. The required documents and processes for tax registration may vary depending on the country and the type of business. Assessment statements are important for accurately declaring the value of property and fulfilling tax obligations correctly.

However, tax systems and regulations may differ in each country. Therefore, it is recommended to seek advice from local tax authorities or professionals for the most up-to-date and accurate information regarding tax registration and assessment statements.

6. Social Security Institution (SGK) Application

If you want to apply to the Social Security Institution (SGK), you can follow the steps below:

Apply to SGK Provincial Directorate: First, as an employer, you need to apply to the SGK Provincial Directorate or an authorized SGK service center. The relevant SGK units will assist you with workplace registration and enrolling employees in social security services. Prepare the Required Documents for Employer Registration: When applying to SGK as an employer, remember that the following documents are generally required: Copy of ID card or identification document Workplace registration newspaper (for companies) Workplace announcement and declaration Company’s activity document or trade registry newspaper record (for companies) Copy of workplace permit or lease agreement Prepare the Required Documents for Employee Registration: If you are employing workers, their social security records need to be established. The following documents are usually requested for employee registration: Copies of employees’ ID cards or identification documents Entry declaration to work SGK entry declaration form Employment contract for the worker.

About Establishing a Company in Turkey

Establishing a company in Turkey is an important investment tool, as it offers a favorable environment for foreign investors due to factors such as Turkey’s developing economy, strategic location, qualified workforce, and large market. Setting up a company in Turkey ensures that foreign investors receive equal treatment as local companies. The significance of establishing a company in Turkey lies in providing foreign investors with a suitable environment to operate in the country. It facilitates foreign investors to invest in their businesses in Turkey and gain access to the Turkish markets.