Why Consider Turkiye?

Engaging in business activities in Turkiye presents several advantages:

• Strategic Location: Turkiye serves as a bridge between Europe and Asia, facilitating trade and access to various markets.
• Growing Internal Market: The country boasts a substantial and expanding domestic market, ideal for launching various business ventures.
• Young, Skilled Workforce: With a predominantly young and educated population, Turkiye provides a pool of talent for various industries.
• Favorable Legal Framework: A supportive legal environment encourages foreign investors and streamlines the process of business registration.

Rules and Step-by-Step Process for Company Registration

Starting a business in Turkiye involves several steps. Below is a concise breakdown of the process:

1. Choose a Legal Structure

Selecting the correct legal structure is crucial. Common options include:

• Limited Liability Company (LLC): Preferred for small to mid-sized businesses.
• Joint-Stock Company (JSC): Suitable for larger enterprises or businesses planning to go public.
• Branch Office: An extension of a foreign company in Turkiye.

2. Prepare Required Documents

Gathering the necessary documentation is essential for smooth registration. Required documents often include:

• Valid passports for all founders
• Residence permit cards (recommended for long-term business operation)
• Business plan outlining operational strategies
• Articles of Association detailing company structure
• Proof of address (lease agreement or ownership)
• Signature specimens from the Board of Directors
• Passport-size photos of company officials

3. Register with the Trade Registry

To officially establish your business, submit all documentation to the local Trade Registry Office. Upon approval, you will receive:

• A Turkish company registration certificate
• A unique registration number

The registration information will be published in the Commercial Register Bulletin within 10 days.

4. Obtain a Tax Number

A tax identification number is critical for all legal and financial transactions. It can be obtained from the Tax Administration.

5. Open a Bank Account

Opening a Turkish business bank account is a necessary step. Be prepared to:

• Deposit the required minimum capital (e.g., 10,000 TRY for LLC)
• Deposit at least 25% of the minimum capital before registration.

6. Register for Social Security

If you plan to hire employees, registering with the Social Security Institution is mandatory. This ensures employee coverage and compliance with statutory contributions.

7. Acquire Sector-Specific Licenses and Permits

Certain business sectors may require additional permits or licenses, particularly in areas like hospitality, food services, and healthcare. Ensure you have all relevant authorizations before commencing operations.

Special Rules for International Graduates

International graduates considering entrepreneurship in Turkiye should take note of these specific regulations:

• Residence Permit: Securing a valid residence permit is necessary to register a company as a foreign national. After establishing the business, owners may apply for business or investor visa status, which enables longer-term residency in Turkiye.
• Equal Business Rights: Foreigners, including international master’s graduates, are entitled to own 100% of their businesses without the need for a Turkish partner.

Final Considerations

Starting a business in Turkiye as an international master’s graduate is both feasible and straightforward, provided that you adhere to official regulations and complete the steps outlined above. Careful planning, thorough compliance with documentation, and obtaining sector-specific licenses are integral to ensuring a smooth launch and successful operation in Turkiye.

If you are contemplating studying in Turkiye to leverage these opportunities or have any questions about the business landscape, please feel free to reach out to us. Study in Turkiye is here to assist you in your academic and entrepreneurial journey, providing comprehensive guidance on navigating the educational landscape and business environment effectively.

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