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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