Turkey Company Formation

Turkish Limited Sirket (LS) Company Formation

A Turkish Limited Sirket (LS) is equivalent to a limited company in the UK or a GmbH in Germany in that it is a legal entity which is separate and distinct from the individuals who run it.

Over recent years the Turkish government has simplified the procedures required to incorporate a company for both foreign and domestic investors.

Company Name

The company name must be derived from the primary business activities of the company and it can be in any language so long as the Registry approves that the Turkish translation is acceptable; certain words are prohibited. We run a company name check on the proposed company name to ensure it is suitable and can often get approval within a few hours, once approved the name can be reserved free of charge for ten days.

Turkey virtual office & telephone number

It is mandatory to have a Turkish telephone number for your Turkish company which we will provide together with the virtual office service. This number is made available to the tax office and other authorities.

No Security Deposit or establishment fees needed
Premium business address in the heart of Istanbul walking distance to metro and metrobus stations
The address is the financial district of Istanbul that is Barbaros Bulvarı, No:102, Beşiktaş, İstanbul
Virtual Office can be registered legally as a full address
Courier received and stored or forwarded
Forwarding charges are extra
Dedicated local telephone number
Calls answered in your company name
Message forwarding by e-mail
4 hours of meeting room usage/month.
Unlimited Tea & Coffee Service
Unlimited Wireless , Cable Internet

Directors

At least one director is required to incorporate and there is no restriction on nationality or residency.

Shareholders

Only one shareholder is required and there is no restriction on nationality or residency; corporate shareholders are permitted. If the shareholder is an individual we will require a copy of their passport and if a corporate entity we will require a Certificate of Good Standing for that company and the directors’ signature.

Share Capital

The minimum share capital is YTL 5,000 (approximately EUR 1,730) with each individual share being worth no less than YTL 25 (approximately EUR 8.70). Upon incorporation at least 25% of total share capital must be paid up in cash and any outstanding capital must be paid within three years.

Filing Requirements

Companies are required to maintain accounts written in the Turkish language and detailed in Turkish Liras. For non-listed companies there is no requirement to file annual financial statements or have accounts audited. All companies must file an annual return and pay the annual government license fee to stay registered.

Timescale

Once all documentation has been received the incorporation process typically takes 10 days.