Turkey is an investment hotspot due to its geographical location, advanced infrastructure, and educated population. The government encourages investors by simplifying business policies. Over the years, the business registration hassles in Turkey have been minimized through consistent government efforts.
A business that wants to register in Turkey should keep a few crucial factors in mind. In the following section, you can find a detailed discussion of those factors involved in company registration.
Company Registration Law and Investment Law Reforms
The company registration and investment laws have undergone multiple reforms in Turkey. The reforms aim to create a friendlier business ecosystem and reduce the hassles in business registration. The registration cost often becomes challenging for small-scale enterprises. Therefore, the administration has reduced the registration fee and simplified the process to facilitate a better experience for the investors.
The country is also keen on accepting foreign direct investment, and the FDI law treats all foreign investors equally. Moreover, the administration further ensures that overseas investors enjoy the same rights as local investors.
Steps for Registering Your Business in Turkey
The company registration process in Turkey comprises multiple steps, which are discussed below. Following the steps properly is crucial for seamless company registration.
- Understand the Law According to Your Company Type
The Turkish government allows foreign investors set up their companies in the country with 100% foreign capital. Businesses operating in the country are open to receiving foreign funding. Companies with limited or joint stocks often search for international investors.
Startup businesses in Turkey mostly register themselves as limited companies and seek investors to grow their businesses. On the other hand, registering your company as joint stock also has multiple benefits. For example, such companies enjoy tax-free transfer of shares.
Foreign Operation Consultancy is a trusted Turkish company that assists foreign investors in registering their businesses in the country. The company will provide the necessary guidance on choosing the right company type according to your business goals.
- Decide a Company Title
Besides the documents required company registration, you should have a business title ready to register your business in Turkey. Typically, the company title should end with the type of company to want to register. For example, your company title is ABC. Therefore, the full company name of a joint stock company will be ABC Joint Stock Company. Similarly, the full name of a limited liability company will be ABC Limited Liability Company.
- Company Address Is Essential
Every company in Turkey should have an authentic physical address. Without a proper address, you cannot register the company. The registered office address should be a rented or owned property. You must have a document to prove that you are a legal property owner. In the case of a rented property, you must show the rental agreement during company registration.
The final step to company registration in Turkey is preparing the Article of Association. You need a legal consultant to create such an important document. Moreover, finding a good consultant ensures the entire process gets conducted in an effortless manner.