How to Start a Business in Turkey: A Step-by-Step Guide

Türkiye is a country with a fast-growing economy, a strategic location between Europe and Asia and great potential for business.

Every year, thousands of entrepreneurs come here to realize their ideas.

In this article, we will cover the key aspects of starting a business in Turkey, as well as how our company Uptrend Homes helps its clients go through the entire process for free.

1. Advantages of opening a business in Turkey

Opening a business in Turkey offers many advantages:

• Access to international markets. Türkiye trades actively with both the EU and the Middle East.
• Preferential taxation. Special support programs are provided for foreign entrepreneurs.
• Obtaining a residence permit through business. Registering a company allows you to obtain a residence permit for you and your family.
• Stable consumer demand. The tourism sector, real estate, services and trade remain promising areas.

2. What types of companies can be opened in Turkey?

The choice of company type depends on your business and goals:

1. Private Limited Liability Company (LTD Şirket): Minimum share capital TL 10,000. At least one founder. Simple management and affordable costs.
2. Joint Stock Company (Anonim Şirket): Minimum TL 50,000 required. Suitable for large companies.
3. Sole proprietor: Minimal registration costs. Limited opportunities for scaling.
4. Branch of a foreign company: Possibility to represent the interests of a foreign organization.

Our company Uptrend Homes will help you choose the optimal form of company based on your needs.

3. Conditions and requirements for company registration

To register a business in Turkey you will need:

• Foreign passport.
• Tax number (can be obtained from your local tax office).
• Legal address of the company.
• Company charter (it must be certified by a notary).

Peculiarities:

• The minimum authorized capital depends on the type of company.
• The legal address must be confirmed (rent or ownership).

We help our clients prepare all documents and go through the process of registering a company in Turkey free of charge.

4. Step-by-step instructions for opening a business in Turkey

1. Obtaining a tax number.
2. Preparation of the company's charter.
3. Selecting a legal address (renting an office or using a property address).
4. Registration with the Chamber of Commerce.
5. Opening a bank account for a company.
6. Contribution of the authorized capital.
7. Registration for tax purposes.

The process takes from 7 to 14 working days.

Our specialists will guide you through every step to avoid mistakes and delays.

5. What expenses need to be taken into account?

When opening a company in Turkey, it is important to consider the following costs:

1. Notary services and translations: from 1,000 to 10,000 lira.
2. Registration at the Chamber of Commerce: about 2500-3000 lira.
3. Payment for accountant services: from 150 euros per month (mandatory).
4. Office rent: from 5000 lira per month depending on the area.
5. Tax contributions: depend on the company's income.

We help our clients optimize costs and select favorable conditions for business.

6. Peculiarities of doing business in Turkey

• Accounting: Turkish law requires regular filing of reports, so having a professional accountant is essential.
• Taxation. Companies are subject to income tax (20%) and VAT (18%).
• Annual update of data. The company must submit data on the current status annually.
• Working with employees: If you plan to hire employees, you will need to register with the SGK social security system.

Why Choose Uptrend Homes?

Our company Uptrend Homes offers its clients a full free service for opening a company as part of after-sales service.

We:

• We will help you collect and prepare documents.
• We will support you at all stages of registration.
• We provide consultations on accounting and taxation.
• We will tell you how to obtain a residence permit through business.

Contact us to learn more about business opportunities in Turkey!