Conexio consulting

CAN FOREIGNERS OPEN A NEW COMPANY IN TURKEY?

Within the scope of the Law No. 4875 on “Foreign Direct Investments”, foreign investors have been provided with the same rights as local investors in line with the principle of equal treatment. According to this law, foreign investors can establish all types of companies included in the Turkish Commercial Code, like Turkish investors.
There is no difference between foreign real persons and Turkish investors in terms of company establishment and share transfer conditions determined within the scope of the Turkish Commercial Code.
The process required for a real person who is not a Turkish citizen to establish a capital company can be examined in two sections as Trade Registry transactions and Tax Office transactions.
Regardless of the type of company to be established before starting the establishment, first of all, the title of the company, the scope of its field of activity, who will be the head office, manager or representative, capital and shares and the board of directors should be determined. In addition, giving a power of attorney through a notary to a lawyer who has worked professionally in this field before the establishment procedures will provide great convenience in terms of transaction security and speeding up the process.
After determining the above, a document showing the mother / father name and residence information of the foreign real person who will establish a company and a notarized passport translation should be obtained, a document showing the partnership structure of the company should be prepared and a list of the documents to be requested from abroad should be prepared accordingly.
Companies must first apply to the Ministry of Commerce’s site MERSIS to make capital out of provider company in Turkey. In this context, before starting the establishment process in MERSIS, real persons must definitely be registered in the system and MERSIS numbers must be established in this way. In order to complete these transactions, a translated copy of the real person’s notarized passport and potential tax number must be scanned and sent to the e-mail address of the relevant chamber of commerce related to MERSIS.
After the establishment application of the company is made and the said application is approved, the establishment and main contract of the company are registered and announced in the Trade Registry Gazette. After that, the necessary action is to issue a signature circular approved by a notary to authorize the executive body of the company to act on behalf of the company, and a power of attorney with general authorization is given to the lawyer, if any. After the company is registered with the Chamber of Commerce, it is necessary to apply to the notary public with a certificate from the trade registry. The person who goes to the notary public must be the Chairman of the Board of Directors and, if any, other Board members who are authorized to perform the operations of the company.
After the completion of these procedures, an officer who inspects the existence of the company is sent by the Tax Office to which he is affiliated to the address specified in the company’s Articles of Association. Among the documents checked by this officer are the power of attorney, if they are audited by a proxy, the “Trade Registry Certificate” issued by the Chamber of Commerce regarding the establishment of the company. After this examination by the Tax Office, the legal existence of the company is completed.
If foreigners want to open a business and work under their own names and accounts, they must apply to the Ministry to obtain a work permit following the completion of the establishment procedures of the said workplaces before the relevant authorities (such as the publication of the workplace in the trade registry or the trade registry office and obtaining a tax number).
As a result of the evaluation to be made by the Ministry, it is obligatory for the foreigners, whose request is found appropriate and who have been granted a work permit, to apply to the relevant municipalities and request a work license and work license.
Issuing business and working license; the Ministry also grants a temporary work permit to foreigners who are business owners or partners, and it is possible for the relevant municipalities to issue a business and work license, taking into account the periods specified in the temporary work permit document. The municipalities do not need to request an Independent Work Permit Certificate from foreigners who have a temporary work permit.

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