By Justin Mays:
Turkey’s economy is expanding at an unprecedented speed, and it will soon become one of the leading in the world. Turkey’s geographical position also possesses one of the main advantages for foreign investors not just to limit their business to Turkey but go beyond.
Starting a business in Turkey as a foreigner can provide investors the opportunity to connect with the European, Asian and Middle-eastern markets.
If you are a foreign investor who wants to establish a business in Turkey, this blog post can help you know all the steps needed to register the company smoothly. Let’s dive in.
How to Register a Business in Turkey
There are three types of company registration: personal, cooperative, and limited liability. Here is a step-by-step guideline to register a business in Turkey.
- You need the translation of the passports of the business’s partners and the notarization.
- Hire a certified accountant and make changes to the business’s charter.
- Acquire tax id numbers for all the shareholders.
- Acquire POA (Power of attorney) from the company’s shareholders for its establishment in the presence of the Notary Public.
- Reserve the title, sign the company’s lease contract and submit your company’s information on the Istanbul Chamber of Commerce platform.
- Next is to acquire the approval of the Articles of Incorporation.
- Submit documents and registration fees to the Istanbul Chamber of Commerce.
- Receive the registration certificate.
- The next step is the notarization of the signature circular from the Notary Public.
- Grant POA to the accountant.
- Open a company bank account.
Note: The information in this blog post is intended for information purposes and shouldn’t be taken as legal guidance.
For more details, please visit the investment guide at invest.gov.tr.
How Long Does the Company Registration Process Take?
This process can take anywhere from one to ten days to complete.
Reasons to Start a Business in Turkey
Turkey is one of the most profitable destinations for foreigners to invest in establishing a business. The local legislations here promote foreign investments and allow foreigners to own their businesses wholly.
As a business owner, you can benefit from connecting with the global market and expanding your reach. Furthermore, since the cost of starting a business in Turkey is much lower, you can establish your company faster and without any hassle.
The local population also has high spending potential since people love to follow what’s in and the current trends. So if you have the perfect marketing strategy to boost your business’s visibility, success becomes inevitable.
To top it off, this country's educated and dynamic young population makes for an efficient and multi-lingual labor force for companies. Establishing a business in Turkey can give you a chance to make your company a global name. And that’s not all; you can make an investment in Turkey to gain Turkish Citizenship. Read more about it by visiting our Turkish Citizenship by Investment page.
About Prime Property Turkey
We at Prime Property Turkey have various types of commercial properties available for foreign investors to check out. We offer everything from office units with smart features to commercial units at prime locations, commercial options for mixed-use, and much more.
We offer professional guidance to our clientele throughout the property purchasing procedure and also extend our after-sales services to ensure their full satisfaction.
So don’t wait any longer and contact our expert team now so we can help you find the perfect commercial property for your needs.
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