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Establishing companies in Turkey – costs, conditions and secrets that you do not know about establishing companies in Turkey

QThe issue of establishing companies in Turkey is one of the most searched topics on the Internet in the past recent years, and one of the most different topics with the information provided by the publisher, so in this article you will be full of information about long experience and expertise in all topics of establishing companies in Turkey and other legal matters affiliated with it.

Establishing companies in Türkiye, general information

Limited Company: It is the best option because you can specify a name for the company and also choose from 4 basic activities for the company in case you want to work on more than one activity and also its cost is small.

While a personal company does not provide us with all the benefits and is often used for very simple activities, an unlimited company is required only for very large businesses.

The cost of establishing companies in Türkiye (limited company)

The cost of establishing a limited company: It is approximately estimated between 7,000 to 10,000 Turkish liras, including all basic and subsidiary expenses, along with legal office fees to facilitate the procedures for establishing the company.

After completing the establishment of the company, it is necessary to extract the company’s budget, which is approximately 500 Turkish liras, and we need it only in order to obtain a work permit or renew a work permit.

The cost of obtaining a work permit is estimated at approximately 4,670 Turkish liras in 2023.

Note: In the event that the establishment of the company is through an office, you will receive official government receipts for all amounts paid.

Note: All costs vary at the beginning of each year.

How much capital must be put into the company in order to obtain a work permit after establishing companies in Turkey?

A complex issue between the law and the truth, but in a simple way, the more the capital is raised, the greater our chance of agreeing to obtain a work permit now, preferably 150 thousand Turkish liras or more. Of course, we can set a lower amount, but it is possible to delay the response to the residence permit request, or to reject the request and re-apply.

How many partners can be added to the limited company?

In the event that a limited company is opened in Turkey, you can add partners to up to 5 partners, so that the percentage of each person is 20%.

What are the monthly amounts that must be paid after opening a limited company in Turkey?

  • To have a personal office or put a joint office address and pay about 700 TL per month
  • The presence of a chartered accountant for the company, and you pay him for his monthly fees, approximately between 700 and 1,500 TL
  • Employment insurance is currently estimated in the year 2023 at a monthly amount of 2.179,86 TL
  • Basic taxes, whether you work or not, and are estimated at 350 TL

Note: All of the above are mandatory and not optional

Actual monthly payments: taxes, social security, fees, violations and their details

Important information regarding the establishment of companies in Türkiye:

The previous costs change every year, and also the cost of establishing the company can change more than once a year, and also the cost of establishing the entire company is high, as we mentioned previously, if it includes all expenses, while in the advertisements of legal offices on the Internet, there is manipulation in terms of the basic cost, and when it ends, you find a lot Some of the papers are incomplete and you have to pay them on your own, and the cost will be greater. But in the end, remember that you will receive all the official invoices for establishing your company along with the office fees

Is it true that establishing companies in Türkiye is beneficial to obtaining Turkish citizenship?

Yes, the establishment of the company in Turkey may benefit us by obtaining Turkish citizenship, but it is not certain unless it meets the conditions stipulated in Turkish law, which is the existence of a work permit for a period of 5 years without interruption for more than 6 months.

Close the company in case of bankruptcy:

In the event that we want to close the company later, we must pay the closing fees currently estimated between 4,000 and 8,000 Turkish liras, and appoint a liquidation manager for the company, provided that he is of Turkish nationality, and enter the liquidation stage. From 3 months to 6 months until the issuance of the closure decision in the Official Gazette. In this method, you are required to pay all monthly expenses until the end of the liquidation period, such as taxes, office fees, and the fees of the chartered accountant.

Note: Limited companies can be closed in one week without waiting for the full period of liquidation by issuing an official decision to convert the limited company into a personal company and then start closing. In this case, the company is closed in one week at the same previous value, but without making any payments to the chartered accountant.

Establishing a company in Türkiye – Opening and closing companies in Türkiye

What are the benefits of establishing companies in Türkiye?

  1. Facilitate complex work matters in other countries.
  2. Obtaining Turkish citizenship.
  3. Obtaining a work permit that enables us to enter Türkiye at any time we want.
  4. The lowest cost among many Arab and foreign countries.
  5. Obtaining a merchant card, which helps us with invitations and trade business in other countries.
  6. Real estate ownership on the company’s name for some nationalities who are not entitled to own property in Turkey, such as the Syrian, Greek, Cuban, North Korean and Armenian nationalities.
Establishing companies in Turkey – costs, conditions and secrets that you do not know about establishing companies in Turkey

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