Establishing a company in Turkey is not a very difficult process courtesy of the well-designed foreign policies framed by the government. The local government is highly supportive of foreign investments and encourages investors from different countries to set up companies or businesses here.
Before taking the first steps towards a company established in Turkey, you should do some research and consult a reliable consultancy like Foreign Operation Consultancy to ensure you do not make any mistakes along the way.
How To Establish a Company in Turkey?
Globally, the market has opened up in a big way. In such a situation, most investors are interested in establishing companies or creating franchises out of local companies in foreign territories. Turkey is greatly preferred by investors who expect a certain ease while conducting their business operations and want things to roll quickly. The government has taken several effective steps to make the country investment-friendly.
Countries, too, benefit in a huge way by attracting foreign investments. Turkey has put together a bunch of important political and legal initiatives that are designed to encourage investors who want to explore Turkey and set up companies here. The initiatives taken by the government are an important reason behind Turkey becoming a hub for foreign investments.
Legalities Involved in Establishing a Company in Turkey
There are several legal procedures involved in establishing a company in Turkey or any other country, for that matter. Because of this, it is very important to seek the advice and consultation of a highly qualified lawyer or well-established law firm as soon as you make the decision to invest in a company establishment in Turkey.
When you want to have a company formation in Turkey, you have to refer to law number 4875 pertaining to foreign direct investments. The current legislation based on foreign direct investment is based on two very important principles. While one principle says that foreign investors have the freedom to establish a company in Turkey, the other important principle categorically states that foreign investors will have all the rights that local investors have.
The modification brought in the shareholder structure of a business organization or company has also contributed greatly towards making things easier for foreign investors. Limited companies and joint stock companies can be set up with a single shareholder.
As far as joint stock companies are concerned, just one individual can put together a board of directors. The different stakeholders or directors can consult each other or have elaborate meetings through digital means. There is also an option to appoint legal entities as board members. To put it simply, foreign investors can establish a company in Turkey and get foreign nationals to run it as well.
If you invest $250,000 or more in Turkey or establish a company with a valuation of $500,000, you can apply for Turkey citizenship. Applying for citizenship, of course, is a matter of personal preference. What is a must, however, is to get in touch with a law firm like Foreign Operation Consultancy when you plan for company establishment in Turkey. Apart from helping you establish a company in Turkey, they will take care of your legal issues as well.