Company Formation in Turkey
BudakCPA provides a quick and easy process to set up Limited Liability Company in Turkey. We are able to complete the process within 7 working days. The entrepreneurs who want to start a business in Turkey, mostly aim to open a limited liability companydue to its more flexible structure.
Limited Liability Company Formation
Opening a limited company in Turkey requires minimum 1 shareholder and the number of shareholders cannot exceed 50 real persons or legal entities. The liability of the shareholders is restricted only to the capital subscribed by the shareholder. A minimum capital of 10.000 TL is mandatory. Unlike Joint Stock companies, no stock certificate is issued.
Our services include managing every step of the company formation process. Below is the steps that are required for us to begin the process. Once we have all the required documentation, we will begin the process and after 7 days your company would be ready to conduct business in Turkey.
The Steps of Company Establishment in Turkey
1. To manage the documents will be provided from abroad.
2. Preparation of draft documents, to make explanation to clients for notary apostille process abroad.
3. Translation and notarization of the documents in Turkey.
4. Preparing Article of Association
5. Company Registry in Chamber of Commerce
6. Preparation of Official Books for new company
7. Obtaining Tax Number
Liaison Office Set Up
One of the legal services that we offer is setting up liaison office. As public accountant company in Turkey we offer liaison office set up service for the foreign companies, which would like to take place in Turkey to conduct market search. Companies, located abroad can open liaison office in Turkey, on contrary branch office, liaison offices can’t conduct any commercial activity and can’t get any earning.
For the liaison office, permission of Directorate General of Incentive Application and Foreign Capital is required. Liaison Office permit is granted maximum three years. After three years for extension, previous years activities and plans for future are considered. Generally after 3 years the main company abroad would like to establish limited liability or joint stock company. In that point we assist our clients to set up the company and offer accounting services. By our experience in setting up liaison office we offer quality services and deal with accounting and payroll matters of liaison offices monthly basis.
Liaison Offices offer some advantages;
• To get information about new market
• Performing promotional and market seach activities before starting commercial business in future
• To conduct feasibility studies
• Following up business opportunities
• Liaison Offices employees’ salary is exempt from income tax.