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ESTABLISHING A COMPANY FOR FOREIGNERS IN TURKEY

consultoría en turquía

Why is it Advantageous for Foreigners to Establish a Company in Turkey?

There are several advantages for foreigners to establish companies in Turkey. Foreign investors can freely transfer the income they earn in Turkey abroad. They can easily obtain work permits for the employment of foreign personnel for the companies they establish in Turkey. Company owners can also benefit from tax advantages thanks to special tax regulations.

Among the advantages of foreigners establishing a company in Turkey is that the reports of international value institutions are considered when determining the non-cash capital of the company. There are restrictions on the direct expropriation or nationalization of foreign investments. In addition to all these, Turkey provides legal assurance to investors as it is a party to many international agreements on the protection of the rights of foreign investors.

State support for foreign investors to establish companies in Turkey continues to increase day by day. In recent years, the procedures for foreign entrepreneurs to establish companies in Turkey have been reduced and the processes have been made easier. Foreigners can start their business life in Turkey by establishing different types of companies such as collective, joint stock and cooperatives in Turkey, collecting the relevant documents and completing the legal procedures.

Advice for foreign investors looking to invest

– In recent years, Turkey has succeeded in attracting new investments in many important sectors such as international logistics, tourism, agriculture and software. If you are planning to invest in Turkey as a foreign entrepreneur, you should research the legal procedures, company types and investment incentives in detail. For this, you can get help from a professional consulting firm to make the process easier.

– There are three different special investment zones in Turkey for foreign investors wishing to establish a company. Free zones, technology development zones and organized industrial zones

– Incentives available to foreign entrepreneurs include Double Taxation Agreements and Free Trade Agreements. These agreements allow trade between Turkey and many countries such as Albania, Croatia, Macedonia, Montenegro, Morocco, Norway, Palestine and Serbia. When trading with countries such as Switzerland, Syria, Tunisia and Korea, you can benefit from the advantage of not being subject to customs duties.

– In 2012, the Turkish Commercial Code reorganized the types of companies. Foreign entrepreneurs were only entitled to establish limited liability and joint stock companies. However, with the new laws, the restrictions on this issue have been eliminated.

– According to the content of the General Investment Incentive Practices program, the Turkish Government provides VAT exemption, customs duty exemption, investment space allocation and insurance premium support. You can benefit from these incentives for your company.

– Foreign investors are required to utilize a certain amount of capital before the company starts its commercial activities. While the capital required to establish a limited liability company is at least 10,000 TL, this figure should be 50,000 TL for joint stock companies.

– Foreign entrepreneurs may need to open a branch due to the growth of their business volume over time. In such a case, opening a company from scratch is easier than opening a branch due to procedures. By establishing a legally sound company, problems that may arise in the future can be avoided.

– You do not need to come to the country to establish a company in Turkey. You can solve all your company incorporation processes in Turkey through an authorized consulting firm.

– If you are going to establish a company in Turkey, you must have a legal address. For this, you can rent a physical office or contact companies that provide virtual office services.

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