Overview of Location
If your business aims to enter a location with a reliable and business-friendly environment and linking opportunities between Europe and Asia – you should definitely consider Turkey as a place to incorporate a company there. This country offers a strategic location, a thriving economy, a stable legal and political framework, and other opportunities to trade in goods and services effectively.
It is also about a business-friendly environment, secured protection for foreign direct investments, serving as a financial and R&D Hubs, and having modern civil and tax legislative frameworks (many laws are adopted based on Swiss and German national practice while being periodically updated to stay in line with the EU legislation).
The most popular and the most widespread type of legal entity is LLC or Limited Şirket. Turkish businesses are subjected to a flat corporate income tax at a rate of 25% while companies in the financial sector have a tax burden of 30%. There are the following WHT rates:
- 10% dividends,
- 10%interest, and
- 20% royalties.
Turkey has entered into around 75 double tax treaties with other countries to ensure the avoidance of double taxation of profits. In particular, these treaties are concluded with countries from Europe, Asia, the Middle East, North America, and others.
Company formation in Turkey is simple and a straightforward process and can be done within 10 business days approx. To proceed the below steps shall be followed:
- Definition of the suitable type of entity to be formed in Turkey;
- Selection of the business name and business activities;
- Registration of a limited liability company or Joint Stock company with the local Trade Registry; and
- Registration with tax authorities in order to acquire a TIN or Tax identification number.
Turkish incorporated companies are usually subjected to particular reporting requirements ensuring their compliance with the local regulatory framework and good legal standing before the Registry. There are several types of such reports that can be divided into Annual, Quarterly, and Monthly submissions. Our team at Corpheroes assists our clients with all matters associated with company formation and subsequent maintenance irrespectively of the complexity of the case.
Nowadays Turkey provides businesses and investors with a strong legal framework and broad opportunities for choice on banks or other financial institutions. This allows them to attract international investors and ensure their businesses can seize a number of benefits from operating through a locally incorporated limited entity. Company incorporation in Turkey is a gateway to a strategic location between European, Middle East, and Asian regions together with direct access to the Black Sea and Mediterranean Sea.
Corpheroes definitely recommends this location to be considered as a place to domicile business there. Contact us today to get the details on how to incorporate a limited company in Turkey.
Required Documents
List of files necessary for setup.
- Certified copy of passport;
- Certified copy of proof of address;
- Bank reference letter.
Features and Benefits
Peculiarities associated exactly with this jurisdiction.
- Annual maintenance of company: renewal of registered address, and state fees;
- Assisting with filing annual, quarterly and monthly reports and returns;
- Opening a bank account with a local bank;
- Rental of an office space;
- Accountancy services;
- A range of legal services;
- Assitance with residence permits;
- Maintenance and annual review of the UBO register.
Formation package includes:
- Our genuine daily support;
- Name availability check and reservation;
- Completely ready-to-use company;
- Tax Authority Registration and Tax Number Acquisition;
- Notary expenses (associated with notarization of documents).
Formation Steps
Define your business activities and choose a name that suits your brand.
Name check and reservation. Preparation of the KYC (Know-Your-Customers) and other due diligence files.
Registering an entity with the local registry. Acquisition of the corporate files.
Corporate account opening.
Need more details?
Inquire now to get all information about this jurisdiction.
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