How Can Foreigners Establish a Company in Turkey?
Establishing a company in Turkey has been highly preferred by foreigners in recent years. Among the most important reasons for company formation in Turkey, the effect of facilitating legal regulations is quite high. Foreigners who want to move to Turkey and expand and develop their business within Turkey must first establish a company. In this article, we will explain in detail what foreign people should be able to open a business or company in Turkey and what they should do afterward.
According to the laws, there are certain legislation and resources that regulate the establishment of a business and company in Turkey by foreigners. According to the Law No. 4875 of the Constitution, which is related to Foreign Direct Investments; The situations of foreigners related to opening a business and company are guaranteed by two points. These are:
- "Foreign direct investment in Turkey by foreign persons is free."
- “Foreign people who want to invest in Turkey are treated equally with local people who invest.”
According to these articles of law, international investors or, in other words, foreign persons can establish all types of business and companies specified in the Turkish Commercial Code (TTK) and the Constitution.
In most business and business areas, opening a business and establishing a company are not included in any pre-approval. However, the following types of companies in Turkey, which will operate, have pre-approval conditions from the ministry before they are established, and their articles of association are determined:
- Independent audit companies
- Companies dealing with general warehouse
- Commodity exchange companies
- Companies engaged in licensed storage and distribution of agricultural products
- Financial leasing companies
- Insurance companies
- Factoring companies
- Technology development zone management companies
- Joint-stock companies established as holdings
- Consumer finance and card services companies
- Companies that operate exchange offices
- Companies that establish and operate their free trade zone
- Asset management companies
- Surveillance companies
- Banks
We can say that a foreign person is subject to the same procedures as Turkish people in terms of company registration in Turkey as a partner. In addition to the documents requested from foreign persons, unlike Turkish persons, the sworn translation of the foreigner's passport must be notarized.
Business and Company Establishment with Foreign PartnersThe path that local and foreign persons must follow to establish a company and business in Turkey is largely the same. Company and business establishment can be started electronically via MERSIS. The person who will establish a company or business or the representative authorized by that person can start the establishment of the company by creating a free and online membership to MERSIS.
Advantages and Disadvantages of Foreign Partnerships and CompaniesThanks to its fast-growing young population, qualified workforce, and geographical and geopolitical location, Turkey is frequently preferred by foreigners for investment. Foreign investors making direct investments can equally benefit from the opportunities provided to domestic investors and the facilities provided by the state. In addition, it can benefit from tax deductions and similar government incentives.
Due to its geopolitical location, Turkey is an extremely good choice for private and legal persons who want to invest and expand their business. Turkey is a very popular investment center with many different advantages such as climatic conditions, agricultural opportunities, rapid development of industry, and the increasing prevalence of technology companies. Not only that, but also with its historical sites, holiday resorts and tourist attractions, Turkey is one of the most distinguished cultural centers of the Middle East and Europe. If you want to benefit from the various privileges and advantages of opening a company in Turkey, you can contact us immediately.
