Registering a company in Turkey: Company registration steps, online information on how to register and form a company in Turkey. Setting up a corporation/ starting a business in Istanbul & Ankara. Limited company formation documents required and the office/ website where to go to.
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Registering a Company in Turkey

The following text provides a detailed summary of the bureaucratic and legal issues an entrepreneur needs to deal with when incorporating and registering a new company / firm in Turkey. It outlines the process which needs to be undertaken when setting up a commercial or industrial firm with a maximum of fifty employees and start-up capital of ten times the economy's per-capita gross national income (GNI).

1. Complete and notarize articles of association, signature declaration of the managers, copies of all manager’s identity cards or passports and commercial books

The documents listed below are needed:

  • Notarized articles of association (3, 1 original).
  • Notarized signature declarations (2 copies).
  • Notarized identification cards of company / firm managers (2 copies).

The documents for incorporation are not liable to the stamp tax, in accordance with changes to the Stamp Tax Law (as of January 1, 2004). The charge for certification shall be paid to the notary public for completing the articles of incorporation.

The amended charge schedule for notarizing incorporation documents is as follows:

  • Articles of association (3 copies, each consisting of ten pages): YTL 900 (approximately).
  • Signature declarations of company managers (2, each one consisting of 5 signatures): YTL 100 (approximately).

2. Deposit a percentage of capital to the account of Competition Authority
In order to register with the Commercial Registry, company founders need to acquire the original receipt from Ziraat Bankası, showing that 0.04% of the company’s / firm's capital has been paid to the Competition Authority at a public bank or the central bank.

3. Deposit the initial capital in a bank and aquire the certificate of paid-in capital
The total capital of the company / firm can be paid within 3 months after registration, if it is not paid beforehand. Please note the following alternative; 25% of the capital may be paid in the 1st three months after company registration, with the remaining balance of it paid within three years of incorporation.

4. File the notice form of incorporation, commitment letter, and Chamber registration statement at the Trade Registry Office
Founders are required to send the following to the Trade Registry Office: the notice form for incorporation, the commitment letter, and the chamber registration statement. Limited liability company formation does not need a application from court. Founders can start the registration procedure, after obtaining the documents listed below:

  • For every separate shareholder who is not a Turkish citizen, 1 copy of the shareholder’s passport notarized by a Turkish notary.
  • For every separate shareholder who is a Turkish citizen or for a Turkish representative of such shareholder, 2 verified copies of the identification card.
  • 3 copies of a notification form of establishment (kuruluş bildirim formu).
  • 3 copies of the notarized articles of association.
  • Receipt of bank deposit from the Competition Authority Account (0.04% of the company’s / firm's capital).
  • An undertaking (taahhütname) signed by the approved company representatives.
  • For everybody approved to represent the founders of the limited liability company, 2 copies of the signature.

The Commercial Registry Office informs the Tax Office and the District Employment Office of the incorporation of the company / firm. The Registry organizes a declaration in the Commercial Registration Gazette within approximately ten days of registration of the company.

A tax identity plaque needs to be acquired from the local tax authority once the Commercial Registry Office informs the local tax authority. The Registry Office also informs the Ministry of Labor and Social Security, Directorate of the Social Security Institution of company incorporation. A social security number is required from the appropriate Social Security Administration office, and all company employees need to complete registration with that office.

The charge for registration for a limited liability company has grown to YTL 555:

  • Publication or advertisement charge: YTL 0.23 for each word.
  • Start-up notice: YTL 38
  • Trade Registry Gazette charge: YTL 1.50
  • Publication: YTL 90–460
  • Charge for registration of manager’s signature
  • 1st manager's signature: YTL250
  • Every extra manager’s signature: YTL 198.85

Charge schedule for yearly membership in the Istanbul Chamber of Commerce (dependent on capital):

  • YTL 1 - 999 (capital): YTL 70
  • YTL 1,000 - 24,999 (capital): YTL 100
  • YTL 25,000 - 249,999 (capital): YTL 150
  • YTL 250,000 - 999,999 (capital): YTL 200
  • YTL 1,000,000 and more (capital): YTL 225

5. Have a notary verify the legal books
The founders are required to verify the legal books the same day as company registration with the Commercial Registry. The notary public are required to inform the Tax Office regarding the commercial book verification.

Charge schedule for legal book verification:

  • Verification up to 100 pages: YTL 45
  • Verification up to 200 pages: YTL 56

6. Follow up with the tax office on Commercial Registry’s notification
The Commercial Registry Office informs the Tax Office and the Social Security Administration of the incorporation of the company. Generally, to accelerate registration, company representatives must check if the notification has been obtained. A tax officer arranges a determination report at company headquarters, and it is a requirement that there be at least 1 approved signature in this report. In accordance with "The Law Number 4884 Regarding the Amendments on Turkish Commercial Code, Tax Procedure Law, Stamp Act, Labor and Social Security Law” Trade Registry Officers must submit the company establishment form. This form contains notification of the tax number for the tax authority.

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