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TURKEY

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Image by Meriç Dağlı

TURKEY

The Republic of Turkey is located partly in southwestern Asia & southern Europe & borders on 8 countries of Eurasia & the Middle East (Bulgaria, Georgia, Syria, Iran, Armenia, Greece, Iraq, Azerbaijan).
This is a progressive state, which is characterized by the rapid development of the economy, the presence of a favorable environment for creating any type of business - from small to large, as well as attractive taxation conditions. Such a territorial location is one of the key advantages that attracts the attention of a considerable number of foreign investors. The most popular Legal Forms - Limited Liable Company (LTD) & Joint Stock Company (AS)

Benefits of registering a business in Turkey:

  • The strategic location of the country

  • High level of GDP

  • Income tax is lower than in many European countries

  • Simple import / export of goods from European and Asian countries

  • The government is interested in attracting foreign direct investment

  • The presence of a large number of free and investment zones

  • A fairly quick and simple procedure for creating a business

  • You can register a company in Turkey remotely

  • Non-residents can obtain a permanent residence permit

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Companies and individuals in Turkey are required to pay the following taxes:

  • Corporate tax - 22% (reduction of the rate up to 4% is available for mining companies)

  • VAT - 18% (reduced rates are available - 8% and 1%)

  • Personal income tax 20-35%

  • Tax on dividends 0-20%

  • Tax on interest and royalties 10-20%

Image by Meriç Dağlı

Requirments:

By registering company You must follow such requirements:

  • Minimum of 1 director and 1 shareholder who may be foreign citizens (maximum 50 shareholders is permitted)

  • Capital requirement TRL 10,000 for LTD and TRL 50,000 for AS

  • No local director requirement implied

  • Legal address with correspondence service for a year (renewal 970 USD/year + VAT)

  • Registration in all necessary authorities and obtaining tax and identification numbers

  • Submission of mandatory tax returns and applications to the register of beneficiaries

  • Consultation on the chosen direction of activity

  • All registration fees

Prices:

  • Company registration (LTD) - 2300 USD (each shareholder increases this cost by 250 USD) Notary and translator services are not included in the price.

  • Company registration (AS) - 2900 USD

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If you need to register a company in Turkey with additional services (open a corporate
account, business license), check the total price individually with our lawyers.

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