How to start a limited liability company in Turkey?

In Turkish law foreign investors are subject to the same rules as Turkish citizens. Foreign nationals and foreign companies may freely start limited liability companies, become shareholders and/or directors of Turkish companies.

Before you start a company in Turkey, it is recommended that you contact a Turkish corporate attorney in Istanbul or a corporate attorney in Antalya. If you wish to incorporate a company in Antalya, then you can contact an Antalya lawyer, an Antalya attorney or an Antalya law firm. If you wish to establish a company in Kemer, then you can contact a Kemer lawyer, a Kemer attorney or a Kemer law firm. If you wish to form a company in Alanya, then you can contact an Alanya lawyer, an Alanya Attorney or an Alanya law firm.

Turkish limited liability companies are created with minimum 10,000 TL capital. This capital can either be paid prior to the incorporation or within 2 years from the date of the incorporation. Turkish limited liability companies may have 1 or more shareholders and 1 or more directors. However, at least one of the directors of the limited liability company started in Turkey must also be a shareholder of the company.

After your attorney who is in charge of starting the company procures all the document, you can apply to the trade registry and incorporate a limited liability company. If you wish to incorporate the company in Antalya, then you need to apply to Antalya trade registry. If you wish to establish the company in Istanbul, then you need to apply to Istanbul trade registry. Corporate tax for Turkish limited liability companies is 22% of the annual income. You will also need to hire a certified public accountant due to the reason that Turkish taxpayers may only submit tax declaration through a certified public accountant. Tax declarations are made monthly, quarterly and annually.