Turkey

We assist global clients looking to do doing business in Turkey with the A to Z of business setup without the need for the client to personally travel to the territory. Some of our services include:

Company / Branch registration

Tax registration and obtaining PIN

Regulatory licenses across all sectors

Personal and corporate bank account opening

Accounting and tax support services

Provision of nominee directors and shareholders

Recruitment and employee hiring

Virtual/Physical Office space solutions

Employment and residency visas

The most common corporate structures preferred by foreign investors setting up in Turkey i) Limited Liability Company (LLC), and Joint-Stock Company (JSC).

Advantages and disadvantages of setting up business in Turkey:

  • The country’s strategic location. Turkey is a strategically located connecting Europe, Asia, and the Middle East, offering foreign entrepreneurs unparalleled opportunities.
  • Presence of young and dynamic workforce;
  • Turkey has affordable operational costs;
  • Government incentives make it an attractive destination for business establishment.
  • Turkey has growing economy with a GDP exceeding $900 billion and strong trade ties to Europe, the Middle East, and Central Asia which is provides a large consumer market.
  • Excellent infrastructure, telecommunications and energy industries that are all technologically developed and receive large amounts of government investment.
  • Turkey’s Free Trade Agreements and Customs Union with the EU make it a gateway to international markets, reducing export and import duties to 0%.
  • Business in Turkey can facilitate residency and work permit opportunities for entrepreneurs and their families
  • Company Registration. Foreigners can register companies without needing a local nominee director or having a residence/work permit
  • There is tax breaks and various financial supports especially for foreign investors
  • Virtual office services are also one of the solutions that provide advantages when establishing a business in Turkey.
  • Turkey has a large leading agricultural sector and a fast-growing steel economy prime for investments and development.
  • The complexity of bureaucracy. Preparing the legal regulations and necessary documents correctly and completely can sometimes take a long time. Girimba consultancy will be glad to help navigate the process for the incorporation.
  • Strong competition in some sectors in Turkey. There is intense competition especially among companies operating in areas such as tourism, technology and finance. This can make it difficult for newly established businesses to find a place for themselves in the market.
  • It is a requirement for any Turkish business to have a legal address either virtual or real
  • There is language barrier in Turkey which can be resolved by using professional translation services.
  • Economic fluctuations. Turkey is a market open to economic fluctuations that can affect entrepreneurs’ long-term business plans. High inflation rates and occasional exchange rate fluctuations require businesses to be careful in their financial planning.

Important links:

Company incorporation steps in Turkey:

  1. Choosing a company name and establishing a legal business address. Girimba Consultants shall ensure the name is unique and complies with the Turkey regulations and shall reserve the name with the registration office the team will also offer support for virtual office for securing legal address.
  2. Prepare incorporation documents: We shall draft the Memorandum and Articles of Association and other documents and translate and have them notarized and have the Client append their signatures. The MAA is required to be signed by visit in person to turkey or grant our team the power of attorney to do it on your behalf.
  3. Submission of documents to the Ministry of trade: Girimba Consultants shall submit the incorporation documents to the Chamber of commerce.
  4. Certificate of Incorporation: The Certificate of Incorporation shall be Issued by the Chamber of commerce.
  5. Trade Licenses and Permits: Our Team shall obtain the requisite industry specific licenses and permits for the company.
  6. Registration for Payroll Tax: Our Team will also register the Company with the Ministry of Treasury and Finance.
  7. Opening a bank account: Our Team shall help our Client open a Bank Account with a top tier bank in Turkey.

    Seek specific business information:

    Let us know more about your business needs by completing the form below. Our team will get back to you within twenty four hours.

    All information provided to Girimba via this form remains confidential, Girimba shall not sell, share or transfer any details to any authority or third parties except as may be required by law. If you however prefer not to fill up the form, you are welcomed to contact us by email or phone directly.

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    Girimba Consulting conducts business with openness, transperancy and honesty.We respect and uphold our Clients’ confidentiality, we offer quality service at affordable rates. Contact us for professional solutions.

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    Clarence S. Carlos

    Regional Cordinator

    Clarence is our regional cordinator and head of business setup secretariat.