Company Establishment Procedures
No, it is not mandatory. Under the Foreign Direct Investment Law, foreign investors have the same rights as domestic investors. Through a notarized power of attorney and apostilled documents, investors can obtain a power of attorney before they arrive in Turkey. company formation for foreigners operations can be carried out end-to-end by our Ankara-based expert team.
The most significant differences arise in the minimum capital amounts, ease of share transfer and liability for public debts. While the transfer of shares is more flexible in joint stock companies, limited liability company shareholders are liable for public receivables with their personal assets in proportion to their capital shares. Investors with strategic growth objectives are usually offered incorporation of joint stock company structure is recommended, while for a more flexible start limited liability company incorporation is preferred.
Yes, according to the Turkish Commercial Code (TCC) and Tax Procedure Law (TPL) virtual office legal address supply is a legal and valid method. In order for the company headquarters to operate, it is sufficient to have a legal address where official notifications can be received and tax audits can be conducted.
Yes, foreign companies can obtain permission from the Ministry of Industry and Technology to analyze the Turkish market, conduct feasibility studies and establish a communication network. establishment of branches and liaison offices may perform. Liaison offices are prohibited from engaging in commercial activities and generating income, all expenses must be covered by the foreign center in foreign currency.
Investors aiming to expand into global markets should be evaluated within the framework of the tax legislation and commercial law of the target country. Considering the choice of company type and double taxation avoidance agreements, overseas company incorporation operations are implemented through a planned legal strategy.
Accounting & Financial Reporting
The financial records of all commercial enterprises in Turkey are kept in accordance with the Uniform Chart of Accounts (UCA) set by the Ministry of Finance and the provisions of the Tax Procedure Law (TPL). This is the legal process, general accounting services Our unit secures your company's financial memory by meticulously processing the journal, general ledger and inventory books.
E-document applications are mandatory for companies that exceed the annual gross sales revenue limits set by the Revenue Administration (RA) and for companies operating in specific sectors such as e-commerce, real estate or motor vehicle trade. Financial seal integration, application processes and infrastructure installation, e-transformation e-invoicing services is completed by our experts by integrating it into your technical infrastructure.
IFRS is a legal requirement for companies that meet the independent audit criteria set by the Public Oversight Authority (POA). In addition, foreign-based parent companies are required to periodically prepare their financial statements in accordance with international standards in order to integrate their subsidiaries or branches in Turkey into their global financial statements (consolidation). financial reporting services requests data within the scope of.
Accounting reports prepared in accordance with TPL standards provide retrospective, static financial data to calculate the tax payable to the government. Management reports, on the other hand, include the company's immediate cash flow, departmental profitability, budget-actual deviations and future projections (Forecasting), directly guiding the board's strategic decision-making, investment planning and risk management.
Although it varies depending on the type of activity of the business; Value Added Tax (VAT) and Withholding Tax (or Withholding and Premium Service Declaration) must be submitted every month, Provisional Tax on a quarterly basis and Corporate Tax declaration once a year in April of the following year. The timely accrual and cost optimization of all these declarations are monitored by our expert financial advisors.
Human Resources & Payroll
The company must have a minimum paid-in capital of TRY 100,000 or a certain turnover. In addition, for each foreign employee to be granted a work permit, at least 5 Turkish citizens must be employed in the company (5 to 1 rule). Process, work permit consultancy It is carried out by our unit on legal grounds, with complete document management.
The employee's employment declaration must be approved by the SSI system at least one day before the date on which the employee will actually start working. The notice of dismissal must be notified to the organization electronically within 10 days following the date on which the employee is dismissed from the organization. Follow-up of these notifications without penalty and in full payroll services is meticulously managed by us.
Non-resident board member partners of joint stock companies and non-officer partners of limited liability companies are exempt from work permits. However, foreign partners who are official managers of a limited liability company are legally required to obtain a work permit in order to carry out their business activities. To avoid erroneous transactions and administrative fines work permit consultancy is a critical step.
Turkish
English
German
Spanish
Russian
French