Company registration in Turkey is gaining immense popularity among entrepreneurs and investors worldwide. The Republic of Turkey stands out as a politically neutral nation, fostering economic relations with global jurisdictions. Ankara, the vibrant capital, emerges as an ideal location for business registration due to its strategic position, housing Turkish shopping and logistics centers. This guide offers insights into company registration in Ankara, recounting legal peculiarities, procedural intricacies, and the advantages of establishing a business in this dynamic city.
Company Registration Services
In collaboration with Turkish partners, Offshore Pro Group provides turnkey business registration services in Ankara. Beyond Turkey, the company offers remote corporate account opening services, encompassing offshore and European countries. While the standard package covers essential services such as preparing Articles of Association, legal consulting, and accounting, additional services like opening a bank account are optional and customizable based on business needs.
Legal Entity Registration in Ankara
Offshore Pro Group employs a team of expert lawyers who facilitate Turkish company registration in Ankara. Their services encompass opening bank accounts, selecting corporate offices, and obtaining licenses.
The procedure of registering a business in Ankara typically includes 3-7 days and requires the presence of all founders. Offshore Pro Group offers the option of remote company registration by proxy for a reasonable fee. This option eliminates the need for a personal visit at all stages, which saves time and financial resources. With accurate document preparation, the company registration process in Ankara can be finalized within 3-5 days.
Registration with the Assistance of Our Turkish Partner
Our strategic collaboration involves a direct partnership with a reputable consultancy firm based in Ankara. With a longstanding track record of assisting both foreign and Turkish entrepreneurs, our associates specialize in various key areas, including:
- Registering diverse business structures to enable smooth operations in Turkey.
- Facilitating the process for foreigners to secure residence permits and work permits.
- Ensuring corporate security in tax, banking, and customs affairs.
- Handling the registration of property with relevant state authorities.
- Providing comprehensive accounting and legal services to companies.
- Facilitating the process of opening bank accounts in Turkey and more.
Our Turkish counterparts are distinguished experts who prioritize their professional reputation. They have garnered exclusively positive feedback from clients, assuring reliability and efficiency in fulfilling contractual obligations related to company registration in Ankara.
Legal Business Forms in Ankara
We recommend our clients register business structures in Ankara that have gained significant popularity among foreign and Turkish entrepreneurs. Opting for these well-received structures ensures a favorable environment for business operations in the capital city.
Joint-Stock Company (JSC)
A Joint-Stock Company (JSC), referred to as Anonim Şirket in Turkish, serves as a versatile legal entity and can take the form of either a Closed Joint-Stock Company (CJSC) or an Open Joint-Stock Company (OJSC). Well-suited for large companies or investors, JSCs in Turkey offer the option to register with a single shareholder, be it a foreign citizen or a legal entity. There is no limit for the number of shareholders. It is possible to make an initial payment of ¼ of the registration fee, with the remainder deposited within 24 months. The company’s Articles of Association, drafted in Turkish, are notarized and registered in the Trade Registry within 15 days of registration, following Art. 279 of the Turkish Trade Law. Governance involves a Board of Directors, requiring at least one member, with the condition that at least one founder must be available.
The following two forms of JSCs exist in Turkey:
1) An open Joint-Stock Company (OJSC) – permitted to trade shares on the Turkish market upon stock market registration, and
2) A Closed Joint-Stock Company (CJSC) – devoid of the right to freely sell shares while being able to issue bearer shares. Shareholders’ liability for JSC debts is limited to the contributed authorized capital. JSCs have the right to issue nominal and registered shares, while CJSCs can additionally issue bearer shares.
Documents Required for JSC Registration in Ankara:
For registering a Joint Stock Company (JSC) in Ankara through a foreign legal entity, the necessary documents include an apostilled Board of Directors resolution, a signed resolution by an authorized representative, details of the overseeing tax authority in Turkey, a triplicate application form for company registration in Ankara, Turkey, a copy of the representative’s foreign passport, a sample signature, Power of Attorney, registration declaration, photos of document signatories (3×4 size, 4 pcs. each), registration certificate of the foreign company, agreement translation, official extract indicating financial status, and Articles of Association text. Translate all foreign corporate documents to Turkish, ensuring notarization and apostille at the Turkish Consulate in the founder’s origin country.
Limited Company (LLC) Registration
- Suitable for medium and small businesses, particularly for those with a capital limit of up to USD 1,000,000.
- Similar requirements to JSC registration, with the key difference being that the LLC’s authorized fund is not divided into shares.
Advantages of LLC Registration in Ankara
Ankara’s status as a major international logistics and transport center offers advantages, including industrial investment zone benefits such as VAT exemptions, property tax waivers, and preferential rates for utilities. The city also boasts technology development zones with tax exemptions until 2023.
Costs and Fees for Company Registration
The cost of company registration in Ankara starts from 2750 USD and covers essential components like state fees, Articles of Association preparation, and legal and corporate consulting. Additional services, such as representing the founder’s interests, office rental, and accounting, come at separate fees.
Steps to Quick Company Registration
Engaging professional assistance expedites the registration process. The payment is divided: 50% to initiate document preparation and the remaining 50% upon arrival in Turkey. The registration is completed within 3-5 days.
Conclusion
Registering a company in Ankara opens doors to a politically stable and economically thriving jurisdiction. Strengthened by strategic partnerships, Offshore Pro Group’s expertise ensures a seamless registration process. For the latest information and personalized guidance, prospective entrepreneurs are encouraged to contact Offshore Pro Group for a comprehensive understanding of business registration in Turkey.
