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Company EstablishmentEasy Company Establishment in Istanbul

Easy company establishment in Istanbul is an exciting venture for entrepreneurs looking to tap into the vibrant Turkish market. Istanbul, a city that bridges Europe and Asia, offers a myriad of opportunities for businesses across various sectors. However, navigating the legal and bureaucratic landscape can be complex. This guide aims to simplify the process of company formation and provide insightful information to ensure a smooth and successful Easy Company Establishment in Istanbul.

WhyIstanbul for Easy Company Establishment?

Istanbul’s strategic location, rich history, and cultural diversity make it an easy hub for international business who seek Easy Company Establishement. The city boasts a robust economy, a large and young workforce, and a favorable business environment supported by government incentives. Moreover, the Turkish government has implemented laws that provide equal treatment to foreign and local investors, and there are no restrictions on foreign ownership of companies in Turkey.

Benefits of Starting a Small Business in Istanbul

Starting a small business in Istanbul has several advantages:

  1. Ease of Doing Business: The Turkish government has simplified the process of setting up a business, making it a straightforward and efficient process.
  2. Access to a Large Market: Istanbul provides access to a large domestic market and serves as a gateway to Europe, Asia, and the Middle East.
  3. Government Incentives: The Turkish government provides numerous incentives for small businesses, including tax breaks and grants.
  4. Strong Consumer Spending: Istanbul boasts a high level of consumer spending, which is beneficial for businesses.
  5. Skilled Workforce: The city has a large pool of skilled and educated workers.

Understanding the Legal Landscape

Before starting the process of company establishment, it is crucial to understand the legal landscape in Turkey. The Turkish Commercial Code (Law no 6102) and Foreign Direct Investment (FDI) law regulate the procedures and requirements for establishing a business in Istanbul.

Types of Companies in Istanbul

The Turkish Commercial Code allows for the establishment of several types of companies. Here are the most common types:

  1. Joint Stock Company (JSC): Suitable for large businesses, a JSC requires a minimum capital of 50,000 Turkish Lira. It is governed by a board of directors and the liability of shareholders is limited to their share in the capital.

  2. Limited Liability Company (LLC): An LLC is popular among small and medium-sized businesses. It requires a minimum capital of 10,000 Turkish Lira, and the liability of shareholders is limited to their share in the capital.

  3. Branch Offices: Foreign companies can establish branch offices in Istanbul. These branches are not separate legal entities but part of the parent company.

  4. Liaison Offices: These offices are not allowed to engage in commercial activities in Turkey. They are mainly used for market research or as a representative office.

    Step-by-Step Company Establishment

Step-by-Step Guide to Company Establishment in Istanbul

Starting a business involves several steps, and working with experienced Company Establishment Lawyers in Istanbul can help ensure a smooth process. Here is a step-by-step guide directly from İstanbul Chamber of Commerce:

  1. Acquisition of Potential Tax Number: The first step is to acquire a potential tax number from a tax office. This number is used for all official procedures related to the company.

  2. Selecting the Company Type: Based on the nature and size of your business, you need to decide the type of company to establish.

  3. Preparation of Articles of Association: The Articles of Association is the main document for the company. It includes details about the company’s operations, management, and share capital.

  4. Deposit of Minimum Capital: The minimum capital for the chosen company type needs to be deposited in a Turkish bank.

  5. Registration of the Company: The company is registered with the Trade Registry Office. This includes submitting the Articles of Association, proof of payment of the capital, and other required documents.

  6. Obtaining Licenses and Permits: Depending on the nature of your business, you may need to obtain certain licenses and permits.

  7. Tax Registration: After the company is registered, it needs to be registered with the tax office.

  8. Opening a Bank Account: A bank account needs to be opened for the company’s financial transactions.

  9. Registering for Social Security: If the company has employees, it needs to be registered with the Social Security Institution.

Assistance of Legal Professionals

The process of company formation in Istanbul may seem challenging, but with the assistance of experienced Company Establishment Lawyers in Istanbul, it can be made significantly easier. At Istanbul Law Office, we provide comprehensive legal assistance for company formation in Istanbul. Our team of bilingual lawyers is well-versed with the Turkish legal system and can guide you through every step of the process.

FAQ Section

  1. Can a foreigner open a company in Istanbul? Yes, foreign investors can fully own a company in Istanbul.
  2. What is the minimum capital required for an LLC in Istanbul? The minimum capital required for an LLC is 10,000 Turkish Lira.
  3. How long does it take to establish a company in Istanbul? The process of company establishment in Istanbul typically takes 1-2 weeks, depending on the type of company and the completeness of the required documents.
  4. Do I need to be in Istanbul to start a company? No, with the assistance of a legal representative, you can start a company in Istanbul remotely.

Conclusion

Starting a business in Istanbul offers numerous opportunities. However, navigating the legal and bureaucratic landscape can be challenging. At Istanbul Law Office, we provide comprehensive legal services to simplify the process of Easy Company Establishment in Istanbul. Whether you’re in Turkey or anywhere else in the world, our team of experienced lawyers can assist you every step of the way. For more information or to start your company formation process, contact us today.