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Establishing a company in Turkey

Establishing a company in Turkey

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Due to its fast growing economy , qualified workforce , and the geographical and political importance of domestic and foreign trade in Turkey , which is the result of being linking Asia and Europe , Turkey is achieving , in addition to the fact that almost half of Turkey's population of 70 million people , made up of educated young people , providing as many job opportunities for foreign investors as local ones . At the same time , many governmental and international companies that open branches in Turkish cities play an important role in their acceptance and recognition throughout the world . The capital of Turkey , Ankara , is ranked first among the most invested Turkish cities , and Istanbul comes second , being the most important and crowded city in terms of tourism , social and cultural .

The Turkish economy is one of the most economies around the world , that have a brilliant future . Expectations indicate that during the next ten years it will become one of the fastest growing economies around the world due to its attraction of $ 15 billion in foreign investment annually , and the amount increases every year , and it is the sixteenth largest economy around the world .

According to the opinions of economists , Turkey has developed investment plans for 2020 that will make it compete with the top 10 markets in the world , such as Russia , America , China and India , and it is moving steadily to achieve its goal , and we are now witnessing the beginning of this success of Turkey's investment plans that will see the light by the year 2023 .

 

RH 163 - One of the best projects in Maslak , ready for housing with a view of Belgrade Forest 

Apartments for sale in Istanbul in a huge project like a full-service city , which includes a shopping center , 5-star hotel and integrated social facilities .

The project provides an ideal choice for housing and investment . The project was built in three phases : the units of the first residential phase have been completed and fully sold , the second phase includes shops and a shopping center , while the third and final phase is a mixture of residential and commercial apartments .

The project is located on the European side of Istanbul , specifically in Maslak , one of the largest real estate development areas in the city .

Maslak is one of the main central districts of Istanbul and it is one of the fast-growing areas of the city .

Maslak area is close to transportation links that will take you to all parts of the city in a few moments , and you can easily access the main areas and sights of the city .

Maslak is the ideal area for investment in Istanbul , where it promises high profits and high returns on investment in a few years .

The project is located only minutes away from Taksim and Levent , not more than 5 minutes from Bosphorus , and 25 minutes from  Istanbul's third airport , which gives it strategic and investment importance .

The project is located near the metro station and public transport .

The project is located in the Cendery Valley , among the regions of Istanbul that have gained the highest value .

The project is located next to Maslak and Levent , which provides a pleasant life with transportation opportunities .

The project attracts attention through its location close to shopping centers , arts , health facilities , transportation and education centers .

All the project details in this link : RH 163

 

 What are the necessary steps for setting up a company in Turkey ? 

The first step : determining the company's headquarters in Turkey and determining the company's capital :

As a condition for establishing a company in Turkey , it is required to have a headquarters , i.e. that the founders already have an office address in Turkey , a store , or a building , according to what is necessary to establish the company in Turkey , where the owner of the company will rent or buy it , and the office price or the value of its rent varies according to the region that the owners of the company and the financiers want to start their company in it , and the rental requires paying additional costs such as insurance and the commission of the real estate office or broker .

As for the most important aspect of establishing a company in Turkey is the capital side , as Turkish law stipulates that the minimum capital is 10 thousand TL , but this amount does not give any additional powers , the Turkish law differs in its treatment with companies in Turkey according to the value of the capital , so it is always advisable that the capital be at least 100 thousand TL .

It is not obligatory for the owners of the company in the period of establishing a company in Turkey to deposit the capital in one of the Turkish banks , provided that this amount is deposited before applying to the work permit / residence or within two years from the date of incorporation .

 

This has additional benefits , including :

  1. Obtaining work and residence permits for company owners and employees .
  2. The possibility of the company joining in Turkey to Turkish organizations and commercial groups , such as : TÜRSAB .
  3. The possibility of making large contracts and facilitating the import of goods to Turkey or their export .

 

The second step : preparing the company's founding contract in Turkey

The following is required to sign the founding contract of a company in Turkey :

  1. Legal Accountant : He is an accredited accountant by the Turkish state , where his responsibility lies in representing the company before the state , and his position differs from that of the company’s internal accountant , as the legal accountant at the end of each month receives bills , expenses and purchases of the company and registers them with departments Turkish state .

It is worth noting that Turkish law considers the presence of a chartered accountant a prerequisite , and in the absence of it , it is considered a violation that the penalty may reach the closure of the company .

In addition , the costs of a chartered accountant are at least 400 TL per month , and the amount awarded to the accountant varies depending on the nature and size of the company .

  1. Company books : They are the books in which all the company's accounts are registered in Turkey , and they are delivered to the competent state departments periodically at the end of each year , and the cost of these books annually is about 1,100 TL .

After contracting with a legal accountant for the company , and preparing the company's books , it becomes possible to start preparing the company’s establishment contract in Turkey and move to other stages .

 

The third step : extracting the company tax number

Where the company in Turkey is considered a legal person and has a tax number , and there are companies in Turkey quarterly and other annual taxes , in addition to rental taxes , and their total on average between 1500 and 3000 TL .

After completing the preparation of the company's founding contract and ratification , and the completion of all procedures related to it in cooperation with the agent or mediator , go to the Tax Department in order to register the company in Turkey , and obtain a tax number for the company .

After that , the taxes imposed on the company can be paid periodically in the relevant tax departments .

 

Fourth step : Opening the company's bank account :

The importance of the bank account is to deposit the capital in it , where the company obtains a paper with a value of the capital from the bank , and after this step it becomes possible for the company manager and with the assistance of the intermediary company responsible for the conduct of his company's papers to obtain approval from the Chamber of Commerce in Turkey to establish the company , termination of the real estate registry , and any other procedures .

It is worth noting that the capital can be deposited in full before the approval of the Turkish Chamber of Commerce to establish the company in Turkey , provided that the capital is paid within a period of 24 months starting from the date the company was established in Turkey , and that the company cannot grant work permits / residence before deposit the entire capital .

 

Step five : Approving the signing of the Memorandum of Association :

After completing all the previous procedures , especially obtaining the company’s commercial registry in Turkey and completing the procedures of the Turkish Chamber of Commerce , it remains before the company’s manager to approve the signature , where he is appointed as the authorized signatory in the name of his company , and the signature of the company’s manager is approved before the notary .

After this step , we can say that the shareholders have become actual owners of the company and were approved in Turkey .

 

 Advantages of investing in Turkey : 

  1. Turkey usually treats the foreign investor in a way that is close to the local investor at a rate that may reach 100% , which is one of the most important advantages of investing in Turkey .
  2. The Turkish economy is among the most economies around the world that have a brilliant future . Expectations indicate that during the next ten years it will become one of the fastest growing economies around the world , because of its attraction of $ 15 billion in foreign investment annually , and the amount increases every year , as it is the sixteenth economy around the world .
  3. The population of Turkey helps to invest money , as the population of Turkey is 77.7 million , and Turkey is the largest in terms of youth in relation to the European Union , not only that , but also that its population of young people enjoys a high degree of culture and education .
  4. The infrastructure in Turkey has advanced high technology in all the things that a successful investment requires from transportation , remote means of communication and advanced marine transportation facilities and is characterized by its low cost .
  5. Low corporate income tax from 33% to 20% , and technological development areas and free and industrial areas are characterized by incentives and tax benefits, there is a total or partial exemption from corporate income tax , Turkey is characterized by laws that support innovation , research and development .

 

RH 80- Apartments with Bosphorus view and suitable payment plans in Sisli 

A first class residential and investment project in the center of Sisli , specifically in the fast growing Bomonti area .

The project is located in one of the most famous areas on the European side of Istanbul , Bomonti district , a growing area that attracts the attention of investors at the moment , which is characterized by easy access to the most vital places in the city , and its proximity to shopping centers , airports , hospitals , universities and schools .

The project location is just 8 minutes away from Taksim .

This project has been designed in line with the highest quality standards in real estate in Turkey .

All apartments have private balconies with views of Istanbul or the Bosphorus .

The project includes special facilities that provide residents with comfort and entertainment and meet all their needs such as swimming pools , gym, walking paths , sport courts and restaurants , in addition to surveillance cameras and security .

Invest in this project today and benefit from its prices which will increase by 40% after the completion of the project .

All the project details in this link : RH 80

 

There are many reasons that make real estate investment in Turkey with a view to obtaining Turkish citizenship one of the most important investment opportunities , as the laws do not require investment in a specific type of real estate , meaning that the foreign investor is free to choose what he wants within a wide range of options , such as houses and lands and commercial buildings , etc .

It also gives family members of the foreign investor the right to obtain Turkish citizenship with the investor , and the only exception is the children of the investor who are over the age of 18 years .

This is in addition to tax exemptions or reductions on foreign investment , which have given additional incentive to invest in Turkey .

The governmental facilities for foreign investments are huge and attractive to investors , which comes in the row of the foreign investor , for example , the investor no longer needs to provide the title deed ( Tabu ) as a condition to start the application for citizenship through real estate investment , as the sale contract is sufficient to apply for citizenship , and thus the investor can buy the property based on the engineering scheme , or from projects under implementation that trade at significantly reduced prices , providing the investor with cost-effective options and feasibility of future profits .

Real estate experts agree that most types of real estate investment in Turkey are always written for success and profit , and their argument is that the need for housing , office , and other real estate goods is constantly increasing without stopping , and the need for real estate in all its forms is not for current moment or season that ending at a specific time .

 

RH 180 - Ready luxurious homes with direct sea view in Zeytinburnu

The project was built on a land area of 63.500 square meters . It consists of 6 residences blocks plus 1 hotel block , with its green spaces of 51.500 square meters .

The project offers apartment options ranging from 1+1 to 5+1 , in addition to garden duplex and penthouse .

The project located on the European side of Istanbul , in Zeytinburnu district , on the shore of the Marmara Sea ,  just outside the walls of the ancient city .

The project located at the very intersection of all new transportation systems , road , sea and rail systems of Istanbul right beside the Historical Peninsula .

In this project , the sea will become part of your daily life . You can reach the marina with only one minute’s walk from your home over the footbridge directly connecting the project to the shore .

The project includes many services and facilities that meet all your needs , such as parking for cars , video intercom system , gardens , playgrounds , swimming pools , sauna and others .

The project also offers security and surveillance cameras 24/7 .

The project is ready for delivery , and for more details please visit the project link here : RH 180 

Eresin Project