Steps to Establish a Personal Company in Turkey
Personal companies are simple entities with low costs. Their owners can immediately start their business activities legally and lawfully upon establishment, with minimal costs in terms of incorporation fees, taxes, and accounting fees.
- Prepare the companys articles of association, authenticated by a notary public or a notary, including a statement of the companys address, and publish it in the commercial registry newspaper.
- Open a bank account for the company in one of the Turkish banks, where a deposit of 25% of the capital is required.
- Register the company in the commercial registry to have its name listed in the Chamber of Commerce.
- Submit the original copy of the companys articles of association to the commercial registry office, along with two certified copies, within 15 days from the date of authentication by the notary public.
- Register the company with the local tax office, and obtain the tax certificate, which must be displayed at the place of business.
- A local tax office employee will visit the companys office within a few days to verify the provided information and the tax certificate.
Private Company in Turkey
A private company in Turkey is a company wholly owned by one individual (natural or legal), who is responsible within the limits of the companys capital. It is a capital company, not a personal company, and the required documents for establishing a company in Turkey are as follows:
- A copy of the passport in Turkish, certified by a notary public, and (3) personal photos with a white background.
- Obtaining the tax number from any designated place in Turkey.
- Security approval for establishment.
- Authorization of a legal accountant at the notary public office, who establishes and registers the company.
- Personal tax number.
- A real address for the company.
- Enrollment in the social security system.
Conditions for Establishing a Personal Company in Turkey
Turkey has become a leader in the global economy, attracting foreign investors, especially Syrians, to establish economic projects to increase their capital. Many Syrian investors wish to establish companies in Turkey due to their minimal and straightforward responsibilities regarding establishment, closure, and liquidation. Therefore, it is essential to be aware of the conditions for opening a company in Turkey:
- A valid passport.
- Submission and signing of the company establishment application after completing all necessary paperwork.
- Possession of a residence permit in Turkey.
- The company must have an official headquarters within Turkish territory, with the type of company and its name chosen.
- Appointment of a certified legal accountant, responsible for providing all tax-related information to the tax authorities and ensuring payment of all dues.
