open a business in turkey
TRANSCRIPT
Open a Business in TurkeyA presentation brought to you by ourlaw firm in Turkey
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Opening a company in Turkey
Turkey is an important gateway between three major markets: Europe, the Middle East and Central Asia.
This geographical position makes it an ideal location to open a company and base a foreign business.
The first step, after deciding to open a business in Turkey, is choosing the right company type.
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Types of companies in Turkey
The types of companies in Turkey are:
the limited liability company;
the joint stock company;
the comandite company;
the collective company;
the commercial partnership.
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The company incorporation process in TurkeyThe company registration process in Turkey is straightforward and takes about one week.
Each company must be registered with the Trade Registry Office. The articles of association must be notarised and the minimum share capital must be deposited in a bank account.
The final step is to register the new Turkish company with the Turkish Tax Office.
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The Turkish workforce
The Turkish workforce is well-educated and skilled. Foreign investors can find candidates for their available positions in a wide range of business fields.
Those who prefer to hire foreign personnel must make sure that they obtain work permits for the new employees before they arrive in the country.
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Hiring personnel in Turkey
Any work agreement in the country is governed by the Labour Law. Its provisions apply both for local and foreign entrepreneurs.
Employment contracts in Turkey can have a definite or indefinite term.
Business owners who want to hire foreign employees must submit the necessary documents for work permits with the Ministry of Labour and Social Security.
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The Turkish Free Zones
The free zones are 20 areas within the country specially designed to increase the number of export investments. They allow for exemptions on:
custom duties;
corporate income tax for manufacturing
companies;
VAT;
income tax on the personnel’s salary.
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The Organised Industrial Zones
The organized industrial zones are more than 220 zones that offer:
low costs on natural gas, water,
telecommunication;
no real estate tax, waste water taxes, building
construction duties and many others.
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The Technology Development Zones
The technology development zones are over 30 areas that provide:
income and corporate tax exemptions;
VAT exemption for certain application software;
wages for researchers, software and R&D
personnel, under certain conditions.
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Legal assistance for company formation in Turkey
Our attorneys in Turkey can help you throughout the company incorporation procedure and afterwards, during the employment procedure and signing contracts with other companies.
You can request our legal services if you are a foreign investor who wants to open a company in Turkey.
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For more information please contact us at:
Thank you for your attention!
(+44)203-287 0408 (for international clients)[email protected] http://www.lawyer-turkey.com