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What are the advantages of starting a business in Turkey for Foreigners?
Establishing a company in Turkey has many advantages for foreign investors.
According to the Foreign Direct Investment Law;
Companies established by foreigners are provided with the convenience of foreign personnel work permits.
In determining the non-cash capital of foreign investors, the reports of international value institutions are taken as a basis.
Foreign investors may resort to national or international arbitration and other dispute resolution methods due to possible legal disputes.
Foreign investors can freely transfer their profits and some of the income they earn in Turkey, to abroad.
There are tax exemptions or tax incentives for companies established by foreigners. For example, Turkey has signed double taxation agreements with many countries. Turkey also offers many incentive programs for the benefit of foreign investors.
FAQ:
I am a foreign person or legal entity. Can I still set up a company in Turkey?
Yes, every person or legal entity from all nationalities can set up a company in Turkey. Foreigners are allowed to have full ownership of a Turkish company with sole directorship.
Do I need to assign any Turkish citizen as general directors to my company?
No, companies can assign foreigners as a general director to their companies. There is no requirement stating general director’s nationality for Turkish company in local regulations or laws.
Can I employ foreign employees?
Yes, you can. However, companies must employ at least 5 Turkish employees to employ one foreign employee. There are some exceptions but this is valid for most of the cases.
Are there any differences in Turkey for foreigners in terms of taxation?
No, there are not. All companies in Turkey accepted as a Turkish Company. Therefore there is no difference in terms of taxation.
Companies which are owned by foreign shareholders are subject to same taxes as companies which are owned by Turkish citizen shareholders.
How long does it take to set up a company in Turkey?
It takes approximately 2-3 working days to establish a company in Turkey except inspection part. Inspectors of related tax office come and visit your registered address.
Inspection paper can be signed by our team if we can receive required POA from you. You can start to do business after this inspection.
How long does it take to get resident permit in Turkey?
The government Migration office at 81 provinces are available for foreigners nationwide, however appointment wait, process-time and ID card delivery varies, in Istanbul province is 3-4 months, Ankara is 2-3 months, and 1 month or less in Antalya and smaller population towns and beach resorts.
