Business in Turkey

Company structures, commonly used by foreign investors in Turkey, and business organizations available to foreigners, are:

Limited Liability Companies (and anonym companies)

There are two main types of legal entities:” Limited Sirket” (limited company) and “Anonim Sirket”(anonymous company). They have the same establishment procedures such as registration with the trade registry and publication in the Trade Registry Gazette.

The directors of the company and any changes in the articles of association are also published.

Anonymous companies are the widely preferred types of legal entity. For banks, financial leasing companies and some other specific fields of activity, this type is required. Anonymous companies are also used to place capital with the public through the stock exchange or otherwise.

Branches of Foreign Companies

Branches are treated as fully established companies. Their commercial transactions, all routine matters and returns, expenses, salary payments etc., are subject to commercial, social and tax procedures similar to an independent legal entity.

Representative offices

Representative offices should not have any commercial activities. The salaries of the employees should be paid from abroad. A simple permission from the Treasury is required to set up a representative office.

Joint Ventures or Consortia

A joint venture or a consortium may be set up for international contracts to be carried out in Turkey. A joint venture can be freely established based only on the international contract signed. Without any obligation to establish a company, the joint venture or the consortium can carry out the business activities. The only requirement is the registration of the joint venture with the tax office and the Social Security Institution. When the contract is completed, the Turkish joint venture dissolves.