How you can open a company in Turkey and get incentives from the authorities

March 17, 2014 - PRLog -- Any foreign investor who wants to start doing business in Turkey should know that setting up a company in the special investment zones would be a great asset for his business. He can benefit of incentives offered by the Turkish authorities, such as low taxes or exemptions from payment of different financial obligations.

Firstly, a foreign entrepreneur must choose the type of company he wants to open in Turkey. Our local lawyers in Turkey can offer advice and guidance throughout the whole period of starting a business. If a foreign investor doesn’t know which type of company to choose, he can ask our lawyers for help. They will explain him the advantages and differences between the most important types of firms in Turkey.

For example, the limited liability company is the simplest form of company for which is necessary a minimum share capital of 10,000 TRY, the minimum amount for starting a company in Turkey. This type of company is appropriate for small and medium businesses, but if the foreign investor is interested in large businesses, he can choose a joint stock company. Other main types of companies are: comandite companies, collective companies or commercial partnerships.

For all of these types of companies, the registration doesn’t last more than a couple of weeks. Our lawyers can help the entrepreneurs with the whole procedure, including the submission of the necessary documents at the Turkish authorities.

After the registration of the new firm is done, the foreign investor should hire personnel. If he intends to hire people outside Turkey, he should know that these citizens need a work permit in order to begin working in this country. The procedure can last a month, so the alternative is to hire Turkish people, many of them being very skilled and well-educated.

If the foreign investor insists on hiring foreign citizens, he must wait until they obtain the work permit and only after that, he can start his activity at the new firm.

The foreign entrepreneurs interested in opening a company in Turkey and the special investments zones that offer them the possibility to get important incentives can find out more information at http://www.companyformationturkey.com and http://www.lawyer-turkey.com.

****

BridgeWest is a European Company Formation Agent who offer assistance and guidance to international clients looking to expand to the European market. We are a cost-efficient alternative to multinational consulting companies specialized in company registration all over the world. We offer a wide range of legal services and assistance with issues related to commercial law, debt collection, virtual offices or accounting services.