How can I start a business in Turkey?

A company is established by notarial deed. An application must be made to the relevant trade federation within 15 days of the notarial deed. Three copies of the statutes, one of which are original, are required.

To set up a company, 0.04 percent of the company's capital must be deposited into a bank account of the Turkish competition authority. This must be done at the Central Bank of the Republic of Turkey or a state bank.

You need the following documents to submit the application in a trade register:

• Three copies of the articles of association, as well as the original copy

• A petition from the company with a completed notification form

• Notarial signatures of the persons authorized as representatives of the company

• A letter of commitment in accordance with Article 29 of the Trade Register Regulation

• A bank certificate as proof of payment of the 0.04% of the company's capital to the Turkish competition authority

• If there are foreign founders of the company, they must show their passport or a notarial copy and submit a copy thereof

• Turkish citizens must have the photocopies of the identity documents of all the founders of the company, their possible residence permits

• If a foreign shareholder is a legal person, an original proof of activity must be approved by the competent Turkish consulate or mediator of an apostille.

• An expert report is required on all rights, movable and immovable assets that want to be used as capital to set up the company

For more questions, contact ILBE.BE Via or by telephone: 0032478934121

written by ILBE staff

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