Here are the questions our clients ask themselves before doing business in Turkey.
To establish a company in Turkey for foreign citizens or companies of a legal obstacle, is there? (A local partner/manager etc.)
There are no legal obstacles for foreign citizens or companies.
Corporate Tax in Turkey / What is the Income Tax Rate?
Corporate Tax: %22
Income tax: 15% up to 18,000 TL, 18,000 TL-40,000 TL 20%, 40,000 TL-98,000 TL 27%, 98,000 TL and 35%
What is the VAT rate?
VAT rates: 1%, 8% and 18%
Is it possible to start a business in Turkey with Virtual Office service? Do you have a partner for this service? Please provide the sample prices.
We have such facilities and that these services are widely available in Turkey. We have a partner that we work with. The average virtual office price is $50 per month.
What is the minimum wage in Turkey?
In Turkey the minimum wage is 2,020.59 TL (Net)
Is there a restriction on the transfer process in Turkey?
Turkey has no restrictions on this process.
Is there a government incentive for foreign investors in Turkey?
Turkey has a variety of incentives for foreign investors both during the incorporation of a company and after the incorporation of a company.
Do you provide services (accounting and other tax obligations) after the operation of the business in Turkey? Or do you have a partner for these services?
We work with experienced accountants in our company. We offer this service at an average of $200 + 18% sales tax on a monthly basis.
Do you need a work permit for partners and managers? What are the requirements for obtaining a work permit?
Under the new law, joint-stock companies are not incorporated in Turkey and their overseas partners of the limited liability company will eliminate the requirement for a work permit if there is no authority in those companies.
The paid-up capital of a company is 100,000 TL. For each foreign partner (6 months after founding), 5 Turkish employees must be employed in order to obtain a work permit.
Do partners/managers need to be present in Turkey to open a bank account and start a business in Turkey?
To open a bank account, shareholders or managers must come to Turkey.
We usually work with foreign trade and construction companies. Is there a regulation for these sectors?
For the foreign trade sector companies must register with the Union of Exporters. There are no special requirements for construction companies.
If you would like to add something about foreigners starting a company in your country, please specify.
We recommend foreign companies to set up limited liability companies.