Turkey is known and well-recognised as a significant economic hub at the crossroads of Europe and Asia, giving a suitable environment to all foreign investors. Turkey offers numerous advantages to investors looking to establish a company there. All nationalities are accepted and can own companies with 100% ownership, enabling company incorporation in Turkey to be relatively quick, simple, and easy.
The requirements for company formation in Turkey are as follows.
Meeting of Shareholders
Shareholders’ meetings must be scheduled no later than three months after the end of the financial year.
Additional General Meeting
If additional general meetings are required, the Shareholders will organise them.
Meeting of the Board of Directors
It is mandatory to follow the company’s statutes at board meetings.
The Company is required to file tax returns in coordination with the relevant taxing authorities. The tax rate for companies in Turkey is 20%.
Register the Company
Companies that have been registered in Turkey must file the first yearly registration.
Turkey Regulations and Rules
The primary code that applies to companies is TCC. Companies that work in regulated areas are subject to additional laws. The Insurance Code governs both banks and insurance companies. The major decisions of relevant regulatory authorities also impact how businesses are regulated.
General Conditions for Turkish Company Formation
- A Turkish company’s directors or shareholders can be of any nationality or residence
- A Turkish-registered company may have either natural or legal individuals or entities as shareholders
- In Turkey, a company must maintain a local registered office
- A 10,000 TL share capital must be inserted for a limited company to be registered, of which 1/4 (2,500 TL) must be put in a bank account at the time of registration
- Following the New Turkish Commercial Code, a limited liability company must have at least one shareholder and one director
Investors might consider setting up a company in Turkey for a variety of reasons, including its ideal location, massive domestic market, thriving economy, welcoming investment environment, and decent infrastructure. Contact Fo-Consultancy with any inquiries about company registration in Turkey. They can surely help you with your goal.