Entity Setup How to setup an entity in Turkiye?

Setting up an entity in Turkey involves several steps and requirements. Here are the general steps you need to follow:

1. Choose your business type: The first step is to decide on the type of business entity you want to set up. The most common types of entities in Turkey are a limited liability company (LLC) and joint-stock company (JSC).
2. Reserve your company name: Once you have chosen your business type, you need to reserve your company name with the Trade Registry Office (Ticaret Sicil Müdürlüğü). You can do this online through the Central Registration System (MERSIS).
3. Draft your articles of association: You will need to draft your articles of association and have them notarized by a public notary in Turkey.
4. Open a bank account: You will need to open a bank account in Turkey and deposit the minimum required capital for your chosen business type.
5. Obtain a tax number: You will need to obtain a tax number from the tax office (Vergi Dairesi) where your company will be located.
6. Obtain necessary permits and licenses: Depending on your business type and industry, you may need to obtain additional permits and licenses from various government agencies.
7. Register your company: You will need to register your company with the Trade Registry Office and obtain a registration certificate (Ticaret Sicil Gazetesi).
8. Register with the tax office: You will also need to register with the tax office and obtain a tax registration certificate.
9. Obtain a work permit (if necessary): If you plan to work in Turkey, you may need to obtain a work permit from the Ministry of Labor and Social Security.

The process for setting up an entity in Turkey can be complex and time-consuming, so it is recommended to seek the assistance of a local lawyer or consulting firm who can guide you through the process and ensure compliance with all relevant laws and regulations.