Our specialists in opening a company in Turkey can assist foreign investors interested in setting up a joint stock company and represent them in various legal and administrative procedures. Read this article and then explore our online services at affordable prices.
| Quick Facts | |
|---|---|
| Laws governing joint stock companies in Turkey | Turkish Commercial Law |
Minimum number of shareholders | 1 |
Minimum capital requirement | TRY 250,000 |
| Minimum number of directors | 1 |
| Regulations for capital markets | Turkish joint stock companies with more than 250 shareholders and trades on the capital markets will be subject to regulations imposed by the Capital Market Board. |
| Process of opening a joint stock company in Turkey | – drafting the Articles of Association, – choosing company name, – meeting minimum capital requirements, – filing documents with the Turkish Companies Registry, – contacting our company formation specialists for assistance |
| Required documents for incorporation | – notarized copies of Articles of Association, – letter of application, – incorporation declaration form, – registration at the Chamber of Commerce, – bank letter, – IDs or passports of shareholders and directors, etc. |
| Additional licenses and permits | – food and beverage, – healthcare, – insurance, – import and export, – alcohol and tobacco, etc. |
| Annual general meetings | Required to be held within 3 months from the end of the financial year. |
| Accounting | Joint stock companies must comply with Turkish Financial Reporting standards. |
| Corporate income tax | – 25% (general), – 30% (financial sector) |
| VAT | – 20% (general), – 10% and 1% (reduced) |
| Number of double tax treaties (approx.) | 83 |
| Advantages of establishing a joint stock company in Turkey | – limited liability, – access to capital, – flexible management, – easy incorporation process, – transferable ownership, etc. |
| Assistance | Our company registration agents in Turkey can help you open a joint stock company or other legal entity in the country, according to your preferences. |
How is a joint stock company known in Turkey?
- JSC,
- Anonim Şirket / A.Ş.
What is the legislation overseeing JSCs in Turkey?
The Turkish Commercial Code.
How many shareholders can open a JSC in Turkey?
At least one. There is no maximum number of shareholders who can start a joint stock company in Turkey.
Can entities establish joint stock companies in Turkey?
Yes.
Please explore this infographic about JSCs in Turkey:
Do I need a local partner to open a JSC in Turkey? Is 100% foreign ownership permitted?
There is no need for a Turkish partner to set up a JSC in Turkey. 100% foreign ownership is permitted.
What is the minimum share capital for a JSC in Turkey?
- TRY 250,000 for a private JSC,
- TRY 500,000 for a public JSC.
CRUCIAL: At least 25% of the minimum share capital must be deposited before the registration process starts,
Shareholders of a JSC in Turkey must pay the rest of the amount within 24 months after company incorporation.
Do I need to live in Turkey to set up a JSC as a shareholder?
No. There is no need for residency in Turkey to open a joint stock company here.
We also offer services for company formation in Turkey, in cities like Ankara or Izmir.
What are the main documents & conditions for opening a JSC in Turkey?
Documents:
- Articles of Association,
- Founders’ declaration,
- Specimen signatures,
- Copies of IDs/passports of shareholders & managers,
- Bank certificate with deposited share capital,
- Completed application form, etc.
Conditions:
- Must ensure a business address in Turkey,
- Must open a corporate bank account,
- Must obtain the tax ID,
- Must deposit 25% of the share capital,
- Complete the registration & submission with the Turkish Trade Register.
NOTE: All documents must be translated into Turkish and notarized, including the IDs and/or passports.
Can I open a JSC online in Turkey?
Yes, through the official platform and by the company representative, who can be one of our Turkish agents. However, physical submission is recommended due to various procedures that require attention and time.
What are the benefits of a joint stock company in Turkey?
- No need for more than one shareholder to establish it,
- Rapid incorporation,
- Limited shareholder liability,
- Can be publicly traded,
- Additional investors can be added,
- Great for large business investments, etc.
What taxes must be paid by a Turkish JSC?
- 25% CIT,
- 10% WHT,
- 20% VAT, etc.
NOTE: Various tax incentives are available for joint stock company shareholders in Turkey, complying with specific conditions.
What is the time frame to open a JSC in Turkey?
Around 2 weeks.
For assistance in setting up a joint stock company, please contact our Turkish company formation representatives. We can also provide accounting services for JSCs in Turkey by putting you in contact with our local specialists.