Guidance for Foreigners Starting a Business in Turkey
Foreign business people will find fewer obstacles and less red tape when they opt for company formation in Turkey. In this post, we’ve covered the standard operating methods for establishing various business structures. In this article, we will discuss the business environment in Turkey and the steps necessary to set up a firm there.
Pick the Right Business Structure for You!
A Turkish firm may be set up with no involvement from Turkish nationals in terms of funding or management. Foreign investors may choose to shop in any legal structures available to corporations, whether a limited liability company, a branch office, or a joint stock company.
In particular, new enterprises often choose to organise as limited liability companies (Ltd.). On the other hand, joint stock corporations offer a few key benefits, such as the ability to transfer shares tax-free under certain circumstances.
Turkey’s Special Economic Zones
Turkey’s new investment incentive system aims to boost exports while decreasing imports, provide more investment aid to less developed regions, increase the number of support elements, promote clustering activities, and encourage investments in the future that will result in a transformation to more advanced technologies.
Get Creative with Your Business Name
When starting a business, the owner must choose a name for the enterprise. The company’s name must include an appropriate suffix for the business’s legal status (such as Limited Liability Company or Joint Stock Company). In addition, the name must be unique among all already operating businesses and may not violate any laws or regulations.
Initial Investment Requirements
It won’t take long to get your business up and running after you’ve decided on the best business structure for your needs. Before beginning commercial operations, a firm may also need a particular amount of cash, which is of great value to foreign investors.
Company registration in Turkey might be daunting because of all the conflicting advice you may have received. Fo-Consultancy is the place to go if you need expert guidance in setting up your business in Turkey. Please do not hesitate to contact them for any assistance you may need.