DOING BUSINESS IN TURKEY
A foreign individual investor can make investments in Turkey without any barriers. To do business activities, only thing to do is obtaining a work permit and apply to the tax office. But, If the foreign individual investor is a shareholder of a company, a work permit and tax registration isn’t needed.
Establishing a new company
Generally, it is the easiest and smoothest investment method we recommend to our corporate customers. If the necessary documents and the authorized person are present, the installation procedures, trade registry procedures, tax office and SGK transactions are completed within 7-10 business days and the company starts its operations.
Being a partner of an existing company
It is the riskiest among the investment ways to be chosen. In order to become a partner in an existing business, a detailed preparatory work is required before the process is initiated in public institutions. In the enterprise to be invested, it must be done clearly that of detailed examination of financial statements prepared in accordance with IFRS, analyzing current or potential taxation risks with the determination of balance sheet assets and liabilities, legal and financial risks that may arise later.
Unfortunately, some of our foreign clients, they met us because of the difficulties experienced afterwards, as they only made bilateral relations and company acquisitions based on commercial trust. The solution of such problematic situations both takes a long time and causes legal processes to reach undesirable points.
Establishing a branch or representative office
It is an alternative to establishing a new company. For foreign corporate companies, there isn’t restrictions to open representative or branches offices in Turkey, except for specific sectors. The establishment process of a branch or representative office takes a little longer than establishing a new business and leads to more procedures. It may take at least 15 working days if all documents and authorized persons requested to be ready by the branch or representative office are ready. At least one of authorized people has to be resident in Turkey.