Turkey is attractive to foreign investors, since the state provides all kinds of support to start-up entrepreneurs, does not set restrictions on the residence of citizens, organizational forms of business and much more. However, Turkey is not an offshore company in the standard sense. It will not be possible to completely get rid of the obligation to keep records and not pay tax fees.
Types of companies in Turkey
Most often, the creation of a company in this jurisdiction is carried out in any of the following forms:
- LTD. The initial capital for such a society is 5 thousand lire. At a minimum, a company must include 2 shareholders and 1 director. There are no requirements regarding their residency. At the moment when the signing of the relevant documents takes place, the director must be present in person.
- AK. The amount of not less than 50 thousand liras is set for the capital. It must be paid at registration. Shareholders’ liability is limited to their contribution. Composition of the company: at least 1 person. The board of directors and the general meeting must be formed without fail. It is allowed to use a nominee service.
Registration of a Turkish company
In accordance with the latest amendments to Turkish law, the procedure for registering a company has been greatly simplified. This has led to a significant increase in the attractiveness of this jurisdiction. Turkey does not prohibit the establishment of companies on its territory, the capital of which is 100% foreign investment. In order to start the business registration process, you need to be checked by the relevant authorities, choose a name, acquire a local account and deposit capital on it in full.
Taxation
The system under which a company will pay taxes depends on the status of the company. There is a significant difference between an organization and a partnership. The standard corporate duty is 33% and VAT is 18%. Gifts and inherited property are taxed at a rate of 4-30%. Stamp duty is paid for letters of credit, contracts, bills of exchange and other documentation. The amount of this payment is determined based on the percentage of the value of certain securities. Transactions relating to the sale of property are also taxed at a rate of 4.8 percent of its price.
If you need to register a company in Turkey, our specialists will help you register a company quickly and efficiently. Also, you can buy a ready-made company in Turkey. Write to us in the CRM form and we will help you register a company.
Eternity Law International specialists will provide you with qualified advice on the acquisition of an offshore company, opening a bank account in any jurisdiction, as well as further support of your company’s activities at any stage.
We offer ready-made European and offshore companies. It takes 2 days to reissue documents for new owners.
If you have any questions or need advice on registering or buying a company, call us at the phone numbers listed on the website, or write to us in the CRM form located at the bottom of the page. Our specialists will answer you online.