Company Registration in Ankara, Turkey

Company registration in Turkey is becoming more and more popular among entrepreneurs and investors from all over the world. Today, the Republic of Turkey has become one of the politically neutral countries that is ready to establish economic relations with all jurisdictions on an equal footing. According to the Turkish President, the country will not take any steps that might destabilize its economy in any way (and we see it right now), which means that you can rely on this jurisdiction as a stable place for your business.

If you are looking for a place to register a company in Turkey, pay attention to the city of Ankara, the capital of the Mediterranean state. It is here that the Turkish shopping and logistics centers are concentrated, and you can easily establish foreign trade and personal ties in this hospitable location.

Legal Entity Registration in Ankara

Using a pool of professional lawyers, we at Offshore Pro Group can facilitate Turkish company registration in Ankara for you and provide other related services that you may need: 

• opening a bank account
• selection of a corporate office
• accounting
• legal consulting
• licenses for the business registered in Turkey, etc.

Mind that the opening of a bank account in Turkey is not included in the cost of a standard company registration service package in Turkey. You can order the opening of an account in Turkey and abroad for the company and personal purposes in addition to company establishment in Ankara on a turnkey basis. We will help you select the best option depending on your business needs and partners.

Company Registration in Ankara (Remotely or with the Client’s Personal Participation)

Turkish structure registration with the support of our experts and partners will require of you to come to Turkey for a minimum of three and a maximum of seven days as some procedural points imply the presence of all founders to sign documents. The final registration process can be completed by the accountant, and the mandatory presence of the founders is not required.

We also offer remote company registration in Turkey by proxy, but the price of this service will be much higher than the standard one. In any case, we invite you to clarify all the nuances by writing to our e-mail: info@offshore-pro.info

In the latter case, you will have peace of mind and save on time and financial investments as this option does not require a personal visit at all stages of the company’s incorporation in Ankara. Needless to say, you will save on the cost of flight, accommodation and travel costs for visiting Turkish institutions. If the documents are prepared correctly, the company registration in Ankara will take 3-5 days.

Our Turkish Partners

As we focus on providing high-quality services to our clients, we cooperate directly with a consulting firm in Ankara which has been providing services to foreign and Turkish entrepreneurs for many years in a number of areas, namely:

• Registration of various business structures that allow you to conduct business in Turkey
• Assistance to foreigners in obtaining a residence permit and work permit
• Corporate security in tax, banking, and customs matters
• Registration of property with the state authorities
• Providing accounting and legal services to companies
• Opening an account with a bank in Turkey and much more

Our Turkish colleagues are highly qualified specialists who value their reputation, have only positive feedback from clients, and guarantee reliability and speed in fulfilling contractual obligations to register a company in Ankara.

Legal Forms that Can Be Registered in Ankara

We propose to register the structures in Ankara that are most popular among foreign and Turkish entrepreneurs.

Joint-Stock Company

Joint-Stock Company (JSC) is a legal entity (Anonim Sirket in Turkish) that can be closed (CJSC) and open (OJSC).

Given the potential of the JSC structure, it can be used for businesses of a considerable size, large investors and foreign founders with serious capital. What international founders need to know about JSCs in Turkey:

• You can register a JSC in Ankara with the participation of one shareholder (who can be a founder at the same time), a foreign citizen or a legal entity.
• The maximum number of JSC shareholders in Turkey is unlimited.
• The authorized capital of JSC in Ankara starts from 50,000 TL for CJSC and from 100,000 TL for OJSC. There is no need to deposit the entire amount into the account: you can pay ¼ of the amount and deposit the rest within 24 months.
•  The company’s Articles of Association are executed in Turkish, certified by a notary and registered in the Trade Registry within 15 days after the business registration in Ankara. The text of the document is formed in accordance with Art. 279 of the Turkish Trade Law.
• The company is managed by the Board of Directors with at least one member, but at least one founder should be available.
• According to the type of structures, a JSC can be:
  • An Open Joint-Stock Company (OJSC) that is entitled to trade its shares on the Turkish market, provided that the securities are registered on the Turkish stock market. 
  • A Closed Joint-Stock Company (CJSC) that has no right to freely sell shares on the market but may issue bearer shares.
• The company’s shareholders bear limited liability for the debts of JSC, that is, they are liable with the amount of the contributed authorized capital.
• A JSC has the right to issue nominal and registered shares, while a CJSC is additionally entitled to bearer shares.

Read the guide for foreigners on How to open a JSC in Turkey step by step in 2022 and what requirements will have to be met.

Documents Required for JSC Registration in Ankara

The requirements for documents differ depending on the Ankara corporation founder’s status.

Documents for JSC registration in Turkey submitted by an individual:

• A foreign passport that should be valid for at least 6 (six) months after the date of the Turkish company registration
• Availability of 4 color passport-size photographs. There are no exact parameters, the approximate size of the photo is 3×4
• Apostilled proof of the foreigner’s residence (residence permit available in the applicant’s civil passport)

Note: if you have a residence permit in Turkey, you do not need to confirm your residence using a civil passport. All JSC founders have to be present at the procedure for signing registration documents in the Trade Registry of Turkey. If the founder of the Turkish JSC is the sole founder – a natural person, his signature should be notarized for company registration purposes.

Documents for JSC registration in Ankara submitted by a foreign legal entity:

• A resolution approved by the Board of Directors that authorizes the incorporation of a Joint Stock Company in Ankara on behalf of a foreign company (apostilled)
• If an authorized representative acts on behalf of a foreign company, he must have a signed resolution and statement on behalf of the members of the Board of Directors
• Details and name of the specific tax authority in Turkey that will supervise the registered JSC
• A completed application form (in 3 copies) on company registration in Ankara, Turkey
• A copy of a foreign passport of the person authorized to represent the foreign company
• Sample signature of an authorized representative of a foreign company
• Power of Attorney in the name of the authorized representative granting him the right to use the corporate seal of a Turkish JSC
• Registration declaration on the establishment of a JSC in Ankara, Turkey, signed by all founders and authorized persons, and registered by the Chamber of Commerce and Industry. You will also need to attach photos of all document signatories (photo size 3×4, 4 pcs. for each)
• Registration certificate of a foreign company, as well as an agreement between an authorized representative and the company (translated into Turkish)
• Official extract from the authorities of the country where the foreign company is registered on the state of its financial and material funds, as well as the text of the company’s Articles of Association. Apostille certification is required.

The entire list of foreign corporate documents must be translated into Turkish by a sworn translator and then submitted to the authorities. All resolutions of the Board of Directors of a foreign company on the appointment of an authorized person, the Memorandum, and Certificate of Incorporation of a foreign company should be notarized and apostilled in the Turkish Consulate in the country of the founder’s origin.

Note: The power of attorney on behalf of the foreign company in the name of the authorized person must be executed according to the data of the foreign passport, not the civil passport.

Registration of a Limited Company in Ankara

This entity is called Limited Şirket in Turkish and is a legal entity that can be registered by one person who can be a foreigner. This structure is more suitable for medium and small businesses with a capital limit of up to USD 1,000,000. As an alternative for micro businesses, you can register as a self-employed entrepreneur in Turkey, which has its advantages and corporate nuances.

Reference: the basic requirements for the Articles of Association of a Turkish LLC are the same as for the Articles of Association of the Joint-Stock Company described above. The only difference is that the LLC’s authorized fund is not divided into shares. 

Characteristics of a Limited Company (Limited Şirketi)

• The total number of LLC participants is limited to 50 founders
• Individuals and legal entities may act as founders
• The amount of the LLC’s authorized fund should not be less than 10,000 TL
•  The LLC founders are personally liable with the funds invested in the authorized capital, while each of them is not liable for unpaid debts of the distributed shares of the authorized capital owned by the other founders
• Free transfer of equity assets of the LLC’s authorized capital is prohibited. The decision on the capital transfer is made by the consensus of the majority of the founders
•  The LLC may not conduct banking or insurance activities
• The LLC is governed by the manager who is authorized and appointed by the consent of the founders

There may be more than one authorized person, and each of them can make individual decisions or implement decisions agreed with all managers.

Anonymous Beneficiary

Company owners who do not want to disclose their name can use our Anonymous Company Ownership service.

Thanks to the correct structuring of the Turkish company, the beneficial owner’s name will not be present in the statutory documents, extracts issued by state bodies, or the lists of founders.

Contact our experts using the contacts above to take advantage of this service. The minimum cost starts from USD 5,000, excluding state fees and duties.

Advantages of Limited Şirketi Registration in Ankara

Since Ankara is a modern metropolis with good infrastructure, it can be called a major international logistics and transport center at the intersection with Europe, Asia and the Middle East. There are about 3,000 companies with foreign capital registered in the capital, which operate in Turkey.

Ankara is proud to be a capital of Turkey, but it is also the second largest city after Istanbul, which is located in the very heart of the country.

For example, 7 of the 11 special industrial investment zones in Turkey organized by the Turkish Government are located in Ankara. Foreign investors in these Special Industrial Zones (SIZs) benefit from:

• Exemption from VAT in case of land purchase
• During a facility construction, the investor is exempt from property tax for 5 (five) years, starting from the date of facility commissioning
• Preferential rates for the use of gas communications, water supply and other energy resources
• Investors do not pay municipal operating, construction and land taxes when they unite or divide a plot. If the investor in the SIZ does not need to use municipal services to remove or process solid household waste, he does not pay these tax charges

Ankara also has special technology development zones where investors can develop modern high-tech projects. The income received by investors in these zones until 2023 is exempt from income and corporate tax.

What is Included in the Cost of Company Registration Services in Ankara?

The cost of the company registration service in Ankara costs from 2750 USD and includes:

1. Payment of the state fee in the Chamber of Commerce and Industry and receipt of documents in the tax authority
2. Preparation of the company’s Articles of Association and corporate documents
3. Legal and corporate consulting on all emerging issues

The agreement with the customer on the company registration in Turkey is considered completed when the Principal or his representative is provided with a package of the following documents:

• Log (Yevmiye Defteri)
• Share Accounting Book (Pay Defteri)
• Book of Minutes of Meetings of the Board of Directors (Genel Kurul Toplantı ve Müzakere Defteri)
• General Corporate Book (Defteri Kebir)
• Inventory Book (Envanter Defteri).
• Document on JSC Registration with the Tax Inspectorate (Vergi Levhası Çıktısı)
• Certificate Authorizing to Operate in Turkey (Faaliyet Belgesi)
• Certificate of JSC Office Registration (Oda kayıt sicil sureti)

Additional services provided for a separate fee along with company registration in Ankara include representing the founder’s interests in all Turkish authorities by proxy, opening an account, renting an office, hiring full-time employees, nominee service (shareholder, director), accounting, registration of a residence permit and much more. Please contact the experts of our portal for more precise information on the cost of services and their list.

How to Quickly Open a Company in Ankara Using Professional Assistance

The first thing you have to do is to contact us using the specified contacts and tell us that you want to register a company in Ankara, Turkey.

After that, our managers will contact you, answer all your questions, and appoint a meeting place in Turkey.

1. We will start the company registration procedure in Ankara after you pay at least 50% based on the total cost of the standard package of services (from 2750 USD).
2. After that, we begin the process of preparing the documents for the corporate structure you have chosen.
3. You will have to pay the remaining 50% upon arrival in Turkey. The period of company registration usually takes 3-5 days, so you should plan your arrival in Turkey for about 7 days.

Please note that the information we provided should not be taken as legal advice and is intended for guidance purposes only. The situation may sometimes change on a daily basis, so please contact us to get updates on the business registration in Turkey!