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COMPANY ESTABLISHMENT IN TURKEY AND SERVICES TO BE TAKEN

1-COMPANY ESTABLISHMENT IN TURKEY

There is currently model of free market economy in Turkey and  foreign, real or legal persons can establish companies and take part in commercial activity. From 1954 to 2003, foreigners or Turkish citizens living abroad could establish company under the scope of the Code on Encouraging Foreign Investments dated 18/1/1954 and numbered 6224. After 2003, company establishment procedures have been performed within the scope of the Foreign Direct Investment Code No. 4875 dated 5/6/2003. Apart from this, there are many laws and regulations.

Establishing a company in Turkey and commercial enterprise are voluntarily but the establishment of the company is subject to a series of bureaucratic procedures, after which it is possible to operate within the scope of Turkish Tax Legislation and Turkish Commercial Code. For this reason, it is necessary to receive service in several areas during the establishment of the company.

A-Legal Support

Since 1986, Önal & Önal Law Office, which has been dealing with numerous lawsuits, especially the Commercial Law, has assumed the establishment consultancy and afterwards of hundreds of companies, with all the necessary legal support, long years of experience and professional perspective. A unique feasibility study will be established for the company to be established as a result of the reporting process, which is formed by preparing the company's main contract, examining the existing legislation in the sector to be engaged, determining the advantages and disadvantages, and evaluating the necessary incentives and supports. In addition to legal difficulties or advantages can be faced in Turkey, our experts will also help you about the current status of the Commercial Law and the functioning of the legal system in Turkey

B-Trade Name and Trademark-Patent Registration Support

As well as the company's legal support, possible problems that may arise related to the trademark such as whether it is possible to use it in Turkey, the presence of similar trademarks, ensuring the protection on the registration brand's trademark, while retaining the company name, can be prevented from the very begining. After the brand and company name is determined and registered, all services such as tracking, detecting and preventing the registration of similar or counterfeit brands will be provided by Önal & Önal IP. Since 1986, Önal & Önal IP, which provides consultancy services in the field of all intellectual and industrial property rights, especially with its trademark-patent registration, will ensure that the trademark and the company name are used safely without any problems at the establishment stage of the company.

C-Tax and Financial Support

All the tax processes in the establishment and current position of the company are followed by the financial advisors who have been serving in our company for many years. Benefiting from all the services necessary for financial support and tax benefits originated from the legislation in force in Turkey are presented. In order to take full advantage of these, it will be sufficient to get service from our financial advisor team consisting of experts.

2-WHY SHOULD YOU WORK WITH US IN COMPANY ESTABLISHMENT?

In addition to three reasons we mentioned above,  working with our company, which can offer all services within its organization during and after the establishment, afterwards, instead of getting services from three places such as law office, financial advisor office, trademark patent office, will provide you with a great profit both in terms of time and money. The most important of all is the support to be obtained by the experience of our company, which has been operating in this field for 35 years. The solution-oriented and reliable way of working, will prevent important damages that may occur from the beginning.

If you work with us, you will not deal with bureaucratic obstacles, think about legal procedures, get rid of financial uncertainties, so you will  focus only on your commercial work.

 3-WHAT ARE THE DOCUMENTS REQUIRED AND THE WAYS TO BE FOLLOWED FOR THE FOREIGNERS 'COMPANY ESTABLISHMENT?

A-Company Type Determination

There are two major types of company to be established in Turkey. One of them is limited company, the other is joint stock company. It is possible to establish both companies with one person or more partners. It does not make any difference to the organization. It is possible for the person who will establish the company to be a real person as well as a legal person.

Capital (monetary fund) of the company has to be 10.000 TL in limited companies and 50.000 TL in joint stock companies. However, it is not compulsory to invest this capital during the establishment of the company. It is possible to block ¼  of it in the joint stock companies during the establishment of the company and to pay the remaining portion within 24 months after the establishment. In limited companies, it is sufficient to make a commitment to establish the company directly and to pay the capital without any blocking.

Limited company partners are fully responsible for public claims (insurance premiums and tax debts)  with their personal possessions whereas in joint stock companies, only members of the board of directors are responsible with their personal assets. Joint-stock company partners, who are not members of the board of directors, are not responsible for public debts. According to the company's field of activity and goals, which type of company will be suitable will be determined in accordance with our company's suggestions and opinions.

B-Determining the Company Name, Trademark and Domain Name

After the company type is determined, it is vital to determine the company name, brand and internet domain name. At this stage Onal & Onal IP  will carry out a detailed search whether the name and the title is in use in or whether considered names is appropriate. Because acquiring a brand or company name that is the same or similar with the existing registered trademarks may lead you to not use these names with appeals or lawsuits to be filed later. This will cause your company recognition and brand value to disappear and cause serious damage. Önal & Önal IP will investigate the company name, brand and domain name, and if it is deemed appropriate, it will be kept under constant protection and effective tracking of the protection of your trademark with the company name.

Considering that the trade is transformed into e-commerce on the internet, it is a known fact that the internet domain name is as important as the company name and trademark. You will also be able to receive effective service from Önal & Önal IP on registration and protection of the domain name.

C-Establishment Stage of the Company, Necessary Documents and Company's Operation

After determining the type and name of the company, some operations are needed for the organization. First of all, the company main contract should be prepared. The main contract of the company is a standard for many companies, which is often not considered during the establishment phase, but can cause serious problems later. Önal & Önal Law Office will prepare a special contract for you, taking into consideration the structure, management style and characteristics of the company you want to establish, and possible management problems will be overcomed.

D- Preparation of Company Articles of Association

Before the company main contract is prepared, it is necessary to clarify the management issues such as the name of the company, trademark, who will be the partner, who will be the manager, the share rates of the partners, the majority of the decisions to be taken, how the company management will be made. Accordingly, the company main contract will be prepared. With the start of the company, the main issues such as how to make decisions, how to carry out other operations related to administration will be determined entirely by the articles of association. Therefore, the articles of association of the company is an important text that concerns the entire field of work of the company. Therefore, it is very important to find the right main contract to prevent commercial and legal problems from the beginning.

After determining the company and brand name, partners and managers, it is necessary to determine where the company headquarters will be and its address. If the company has more than one partner, all of the important issues such as the conditions of leaving the company, the transfer of shares and how the partnership structure will be shaped can be determined by the articles of association.

When the main contract of the company is determined, after application to the chamber of commerce of the city and receiving the relevant approvals, the company is signed by the partners of the company in the chamber of commerce.

Establishment Application Documents Required by Chamber of Commerce

The Chambers of Commerce requires the following documents for the company establishment.

• Signature declaration of the person to be authorized by the company

• Chamber registration statement

• Company establishment application form

• Foreign partner application form

• Foreign partner's copy of the passport translated, ID number given to foreigners and tax number, approved residence permit.

• If necessary, bank receipt of the blocked capital amount

In addition to these documents, there may be documents to be specifically requested by the chamber of commerce in each province.

Subsequently, after the application is made, the tax number will be obtained from the tax office for the company. The signature declaration will be taken from the notary public and the commercial books required to be kept in accordance with the Turkish Commercial Code will be registered.

E- Registration in E-Tax Office and Submitting the Notice for the Start

After the company registration is made to the Chamber of Commerce, it will be the stage of registration to the Tax Office. For registration to the Tax Office;

• Company main contract

• Signature circular

• Lease agreement or land registry record of the company headoffice

• Company registration certificate

• Certificate of residence or residence permit of the founders of the company

• Identity document or certified copies of company partners

 

After the application is made with these documents, an officer from the tax office goes to the company's specified address and checks whether the company is operating at the address. The application process is completed after the company is established in this way.

At this stage, it is possible to make the necessary applications to benefit from the existing incentives and supports. Process required for getting your company's currently available support and encouragement in Turkey will be made by us.

F- What are the Taxes and Insurance Premiums to be Paid After the Company Starts Operation?

After the establishment of the company, some taxes will have to be started with the insurance premiums of the company partners and employees.

The tax types and periods to be paid are as follows.

• Value Added Tax (Every month)

• Insurance premium for employees (every month)

• Insurance premium of company shareholders and board members (every month)

• Withholding (every 3 months)

• Temporary Tax (every 3 months)

• Annual Corporate Tax (annually)

Apart from this, there may be municipal deductions that must be paid to the relevant Municipality due to the activity documents, according to the facility or working center or branches opened at the place of operation.

Turkey has many tax advantages and reductions in the taxation system. The determination and implementation of discounts to be made according to the expenditures made every month and the taxes to be paid according to the profitability status are carried out by the accounting department of our company, which monitors the company's monthly invoices and expenditures.

It is possible to say that there will be no big public burdens on the company in the first years following the establishment since there are incentive and support policies for employment and holding the company in the first year when the company was founded and started its operation. Of course, it will be possible to achieve this result by obtaining correct and professional support in many different areas we have explained above.

If you work with us, your company will not face any legal obstacles  and your company will benefit from all the financial benefits and professional support.