Steps to Establishing a Business in Turkey: Legal Address and Support Service with Workon!
Turkey offers a very attractive business environment for entrepreneurs and investors with its strategic location between Europe and Asia. It offers attractive opportunities for both local and foreign investors thanks to its developing economy, large customer base and business-friendly regulations. However, the process of establishing a business in Turkey can be complicated and time-consuming without the right guidance. This is where the virtual office services offered by Workon come into play. With a legal address and other necessary services, it speeds up and simplifies your business establishment process, allowing you, entrepreneurs, to spend more time on other tasks that need to be focused on.
In this blog post, we will discuss the important steps to take in the process of establishing a company in Turkey.
1. Do Market Research
It is very important to do comprehensive market research before starting any business venture. You should consider factors such as market demand, competitors, target market, potential risks and opportunities in your chosen sector. This data will help you guide your business decisions and create a solid business plan that suits your goals.
2. Choose the Right Business Structure
There are different types of business structures in Turkey. These include sole proprietorship, partnership, limited liability company (LTD) and joint stock company (A.Ş.). The most popular option for foreign investors is the limited liability company (LTD), which offers flexibility and limited liability protection.
3. Decide on Your Company Name
Choosing a unique and meaningful name for your company is an important first step in starting a business. Remember that the name you choose must comply with Turkey’s naming laws and must not conflict with another registered trademark. It is also important that your company name is easy to remember by your target audience and reflects the nature of your business.
4. Prepare the Required Documents
You will need to prepare certain documents to set up a business in Turkey. These include:
• Articles of Association: This document includes the company’s objectives, management structure and partnership information, and also includes the company’s bylaws. It must be signed by all shareholders and notarized.
• Passport Copies: Notarized passport copies are required for all shareholders and directors.
• Company Address: You must provide the registered address of your company in Turkey.
• Tax Identification Number (TIN): A tax identification number (TIN) must be obtained from the tax office for each shareholder and director.
• Bank Account: If you are establishing a joint-stock company, you must open a company account in a Turkish bank and obtain a bank receipt for the capital investment.
5. Register Your Company
Once you have prepared the necessary documents, you can start your company registration. You must register your company with the Chamber of Commerce of the province in which it will operate. By submitting the relevant documents and paying the registration fees, you can obtain your registration certificate.
6. Obtain the Required Permits and Licenses
Depending on the type of company you have, you may need to obtain additional permits and licenses. This may include environmental permits, business licenses, and other industry-specific documents. It is important to comply with the legal regulations required by your industry in order to legally do business in Turkey.
7. Complete Your Tax Registration
In order to fulfill your tax obligations, you must apply to your local tax office and obtain a Tax Identification Number.
8. Use an Accounting Service
It is recommended that you use an accounting service to track all financial transactions of your business in Turkey and manage your tax processes correctly. This keeps your business financial structure in order and ensures compliance with tax laws.
The process of establishing a business in Turkey requires careful planning, research and compliance with legal regulations. By following the steps mentioned above, you can manage your business establishment process more efficiently and establish your business successfully. It is extremely important to get support from local experts, lawyers and accountants to ensure compliance with business laws and regulations in Turkey.
At this point, the services offered by Workon guide you through every step of your company establishment process. Meeting all your needs from legal address provision to accounting and consultancy services, Workon is ready to support you on your business establishment journey in Turkey. With the solutions offered by Workon, you can facilitate the entire establishment process of your business. We are with you with our expert team in market analysis, company establishment and more.
Are you ready to benefit from the opportunities offered by establishing a business in Turkey? Meet Workon to grow your business, discover the opportunities offered by Turkey and take your business to the next level!
Where to Start?
Starting a business in Turkey involves understanding local regulations, but with expert guidance, the process can be smooth and straightforward. From company registration to compliance management and virtual office setup, Workon provides all the support you need. Get started with our Business Starter Package and enjoy a free consultation to ensure your company formation goes smoothly.
