Starting your own business in Turkey is not difficult at all! Foreigners who want to invest in Turkey have the same rights and liabilities with Turkish citizens. That is, there is no difference between foreigners and citizens when it comes to start a business. Enterprises established by foreigners in Turkey are liable to Turkish Code of Commerce in the same way.
Types of companies determined by laws are as follows:
- Collective (Multi-Partnered) Companies: joint-stock companies, limited (limited liability) companies and cooperative companies.
- Non-Collective (Non-Multi-Partnered) Companies: collective companies, commandite companies.
What Do I Need to Do to Start a Business in Turkey?
- First of all, you should decide what type of company, for instance, ‘private’, ‘limited’, or ‘joint-stock’ company, that you want to establish.
- Just after you determine the type of your company, you must prepare The Articles of Association. Most of important information about your company must be stated in it. Information that must be included in The Articles of Association are as follows:
- Corporate name
- Shareholders and share amounts
- Company address
- Company manager/representative
- Company capital and shares: Capital amount must be enough to cover the need for cash to the point where the company earns income enough to live on.
- Company interests
- Details about leaving the company, about whether privileged stockholder will be or not, and about profit distribution.