Setting up a company in Turkey
Over the past 16 years, the Turkish economy has undergone a remarkable growth due to the government’s vision of implementing sound macroeconomic strategies and prudent fiscal policies and private sector reforms, Turkey is becoming one of the major investment destinations around the region.
The Turkish government’s commitment to attracting foreign direct investments can be evidenced through the ease of forming companies in the country, as there are no restrictions on the ownership of companies in the country.
Establishing a business may seem like a tedious task, but Turkey offers one of the simpler routes worldwide for company establishment.
- The first step is to obtain a tax identification number, this must be done for non-Turkish individuals and/or legal entities that will act as shareholders and directors of the establishment. The tax number can be obtained by the Turkish tax authority, and it is a simple and straight forward process.
- Then comes registering information on the MERSIS, which is the central governmental registry number system. In order to compile the information required a tax number must be obtained beforehand. Once registration is complete, and auto-generated initial MERSIS number will be given to the non-Turkish individuals and/or legal entities.
- Once the initial MERSIS number is obtained, further information must be entered into the MERIS system, such as the company name, activities, shareholders, and shares, as well as any important documentation such as articles of association and/or shareholder certificates.
- Once all the information is entered and deemed valid, a unique MERIS number will be auto-generated. This number will be obtained in order for the company to be legally incorporated in the Turkish Chamber of Commerce.
- Articles of association must be then certified by a public notary, once certified, they are delivered to the trade registry along with with with all other documentation (signature declaration of directors, a bank statement showing that at minimum a quarter of share capital has been deposited and blocked in Turkey, etc.). Other documents may be requested by the trade registry.
- Once the trade registry certifies all the submitted documentation and deemed it valid, a registration certificate is granted. The trade registry will also provide mandatory documentation along with it such as financial books.
This is all it takes to register a company in the Turkish market, simple, elegant, and quick.
You can contact us for more information regarding obtaining the residency through business establishment in different countries such as Australia, Canada and the Netherlands.
Investment Office in the Republic of Turkey