We do perform Company formation services in Turkey and provide other company governance services for foreign companies. We have extensive experience on limited liability and joint stock companies, joint ventures, liaison office, and branch office formation and governance in Turkey.
Companixa™ is relatively young, but one with an impressive and respected history. We began from the efforts and dreams of one lawyer, Mr. Selcuk Akkas, and one accountant Mrs. Beyhan Akkas, an accountant & CPA in Istanbul.
Together they and many other talented individuals built an organization around collaboration and mutual respect, and on absolute dedication to providing clients with value.
A limited company requires minimum one partner and it can be a legal entity or a real person. The partner/partners can be Turkish or foreign as well. Foreigners can own 100% of a company and transfer their profit out of Turkey without any problems.
Minimum required capital for a Limited Liability Company is 10,000. -TL (Turkish lira). The capital of the company shall be paid in two years and in four installments.
Establishing an LLC generally requires 3 to 5 days. We also have expedited company formation service in one day. We provide company address and local director services for foreign companies and our rates are very moderate.
An incorporation requires minimum one partner and it can be a legal entity or a real person. The partner/partners can be Turkish or foreign as well. Foreigners can own 100% of a company and transfer their profit out of Turkey without any problems. Minimum required capital for a Limited Liability Company is 50,000. -TL (Turkish lira). The capital of the company shall be paid in two years and in four installments.
Partners can apply for a work permit as the shareholder of the company, however if a partner likes to apply for a work permit then the capital is minimum 100,000. -TL and must be paid in full. We can prepare and file work permit applications.
Establishing a Joint Stock company generally requires 3 to 5 days preparation after we get all the documents from your side. I also get the documents that you send to us translated and notarized. If the partners don’t have a Turkish Tax ID, we need to obtain Tax ID’s for each partner.
There is no income tax or any other tax since the liaison office does not generate any income. There is however, social security tax, if there are employees. Moreover, employees also don’t pay income tax as well.
In which fields a liaison office can be established?
- Representation and Hosting,
- Control, Inspection and Provision of Suppliers in Turkey with regards to Quality and Standard,
- Technical Support,
- Communication and Transfer of Information, and
- Regional Management Center
Turkish Branch Office of a Non-Turkish Company Branch offices have autonomous capital and accounting to carry out commercial transactions with third parties, although they are closely associated with the parent company in respect of internal management. This means that rights, debts, profits and losses of the branch offices are assumed by the parent company.
A branch office can only engage in activities of its parent company. It cannot provide goods and services or engage in any commercial activities that are not specified in the parent company’s articles of association. Although there is no legal capital requirement for branch offices, it is required that the incorporating company maintains a capital sufficient to run the branch office in practice.
A branch office shall use the same corporate name as that of the parent company by indicating that it is a branch office and also contain the location of the head office and the branch office. A fully authorized commercial representative (branch office manager) residing in Turkey needs to be appointed in order to run day-to-day business of the branch office. If the manager is Turkish it will be easier, if he is a foreigner, we must obtain residency for him at first.
There is 5.000 USD application fee for Free Zone companies and it will be refunded, if the application is refused by the Ministry of Economy. However, if the application is accepted and license to operate in Free Zone is issued, the application fee will be kept by the Ministry. After that we continue establishing the company and it can be an LLC, a Joint Stock Company or a branch of the mother company.
Please be informed that free zone company doesn’t mean tax free. There is 22% corporate income tax from your profit for free zone companies as well. If you will not manufacture in a free zone company, then there are not many incentives.