The Federation of Turkish Chambers and Exchanges announced the establishment of more than 12 thousand and 600 companies in Turkey during the year 2019 with joint Turkish and foreign capital amounting to 5.7 billion Turkish liras, equivalent to approximately one billion US dollars.
The data published by the Federation of Turkish Chambers and Exchanges indicated that one thousand and 149 companies among the total companies established are classified in the list of "joint stock companies", while the rest of the companies are included in the list of "limited liability" institutions.
Regarding the percentage of foreign capital in Turkish foreign companies that were established last year in Turkey, a statement of the same source stated that it reached 83.25 percent.
The capital of these companies has been pumped by investors from many countries, mainly Iran, Saudi Arabia, Syria, Iraq, Jordan, Egypt, Germany, the United Arab Emirates and Libya.
On the most attractive cities for foreign investment, the statement said that Istanbul advanced the list of Turkish states in terms of hosting joint-stock and limited liability companies that were established with Turkish and foreign capitals, with a record number of 8 thousand and 828 companies.
Istanbul ranked next to the following Turkish cities: Antalya ranked second with 705, Ankara ranked third with 589, and Gaziantep ranked fourth with a total of 504 companies.
Learn about the most important conditions for establishing a company for foreigners in Turkey
Statistics for the establishment of 12,634 companies with Turkish foreign capital in Turkey during the year 2019 were not arbitrary numbers, as they reflect the growing interest of foreigners and the large demand for establishing companies inside Turkey, given the government provides an appropriate environment for investment and its emphasis on the continuous updating of laws related to establishing companies For foreigners in order to legally protect the foreign investor from all forms of fraud and even to ensure the success of his project after the shortest period of establishment.
Below, we will show you the most important requirements for a foreigner in Turkey in order to establish his company successfully and systematically, away from any problems that might lead him to the courts or cause him to lose his capital instead of doubling it.
Turkish law allows foreigners the right to establish a company in Turkey and even to be a manager thereof, provided that the work permit is issued.
A foreigner can possess all the company’s shares, that is, 100% of the shares are registered in his name.
Those wishing to establish the company must prepare the statute and certify it from an accredited notary office "Notary" or what is known as "Noter" in the Turkish language. The articles of association must also be attached to a statement on the company address, to be tracked after that forcing the process of depositing at least a quarter of the capital in The bank, and in addition to submitting the original copy of the company's articles of association, two certified copies shall be submitted to the Land Registry Office within a maximum period of two weeks from the date of ratification with the notary.
Those wishing to establish a company in Turkey must document all the documents related to his project in the office of the "notary" provided that they are authenticated on the same day the company is registered, so that there is no contradiction in the dates of the papers, that is, in order to maintain a unified date for all of them at the time of deposit.
The company founder must publicly publish its articles of association in the Official Gazette of the Turkish Real Estate Register, which is issued periodically.
It is desirable that the owner of the company suspend the Vergi Levhasi tax certificate in the management office or in a clear place in the company in order to give a serious picture of the company's regular functioning within the framework of the legal frameworks of the Turkish state.
The founder of the company must register all the workers in his company, including the company’s directors in the Ministry of Labor so that the real estate registry office will later inform the Ministry of Labor and Social Security in Turkey of the information of the company’s establishment.
Insurance or “Sigorta”: The company’s founder has to register all the employees of the company in the social and pension insurance system according to what is required by Turkish law on the founders of the companies, i.e. the company must pay the insurance premiums regularly for every worker in the company, regardless of his status from the manager To the receptionist, where heavy fines are arranged in the event of late payment of insurance amounts for their appointments, which may cause great harm to the owner of the modern institution instead of collecting profits.