Turkey Limited Sirket (LS)

Turkey Key points

• Time – 10 days to incorporate your company
• Directors – only one director of any nationality, is necessary for your company
• Shareholders – Turkish Commercial Code allows limited liability companies to consist of only 1 shareholder
• Share Capital – the Share Capital requirement is €2,500/TL 5,000
• Support – using our 20 years experience we guide you throughout every step of the company formation process
• A four day visit to Turkey will be required by the company director, to sign documents
• 21 free trade zones in Turkey offer a very attractive business climate to companies through tax exemptions
• Registered Office for your company can be provided at our Turkish Office
• There is no restriction placed upon the nationality of the directors or shareholders

Incorporation of a Limited Sirket (LS)

Once we have your company details Formacompany will proceed with:

• Notarised Articles of Association
• Notarised signature declarations
• Notarised identity cards (or passport copies for foreigners) of company managers
• Signature declarations of company managers

Deposit the Share Capital

To register with the Commercial Registry, shareholders must obtain the original receipt which shows that 0.04% of the company’s capital has been paid to the Competition Authority at the central bank or a public bank.

File the incorporation notice at the Trade Registry Office

Formacompany will submit the incorporation notice form, commitment letter and chamber registration statement to the Trade Registry Office. For each individual shareholder who is not a Turkish citizen, a copy of the shareholder’s passport is notarised by a Turkish notary.

• Three copies of an establishment notification form
• Three copies of the notarised Articles of Association
• Bank deposit receipt from the Competition Authority Account (0.04% of the company’s capital)
• An undertaking (taahhütname) signed by the authorised company representatives
• For each person authorised to represent the founders of the limited liability company, two copies of the signature

The Commercial Registry Office will notify the Tax Office and District Employment Office regarding the company incorporation. The Registry arranges for an announcement in the Commercial Registration Gazette within 10 days of company registration.

The accountant will apply for the tax identification plaque from the local tax office and a social security number from the relevant Social Security Administration office.

Two months Accountancy service are included in our service to enable Tax Registration.

Notary certify the legal books

Certification of commercial books:

• Journal
• Ledger
• Case book
• Inventory book

The founders should certify the legal books the day the company is incorporated. The notary public will notify the Tax Office about the commercial book certification.

Certificate of paid-up share capital

1/4 of the initial capital must be deposited within 3 months of company incorporation and the balance of the subscribed capital must be paid within 3 years of incorporation.