Limited Company Registration on a Turnkey Basis in Ankara in 2022

The Republic of Turkey is one of the largest countries attractive to foreign business thanks to its economy, favorable tax rates and advantageous geographical position. Foreign nationals who decide to open a business in Turkey have the opportunity to choose the region for their business activities, and benefit from the local advantages.

Setting up a Limited Company in Turkey will not be an issue, and the attitude of the Turkish government towards the foreign investors is clear. It’s a friendly attitude, combined with an attractive environment in terms of climate, standard of living, banking sector, and economic indicators. All this opens the way for businesses and natural persons.

If you decide to register a Limited Company in Turkey, it is important to determine the right business location, a niche, and prepare your business project. In 2022, Ankara will remain the second-largest city of the country where the local and foreign businesses are concentrated.

Ankara, a City for Permanent Residence, Investment and Leisure

Ankara as the capital of Turkey and the city with a well-developed infrastructure is one of the country’s most advantageous regions for business, residence and leisure. The capital is located in the northwest of Central Anatolia, and is the second largest city of the Turkish state. 

Thanks to the large number of technology development zones, industries and business sectors, Ankara with its highly diversified structure attracts foreign investors who register international companies in the capital every year and start their business in the local market. It is worth noting that the Turkish capital is also very popular with foreign companies from Eastern Europe, the Middle East and North Africa which is also confirmed by the well-established contacts among the countries and good business connections.

If we talk about moving to Ankara for permanent or temporary residence, today the Turkish capital has one of the top positions in terms of demand in the real estate market. However, the immigration program conditions have been changed towards increasing the requirements for the minimum property value from 250 to 400 thousand dollars which should be taken into account in advance.

Economy of the Turkish Capital in 2022

Currently, there is some economic unrest in Ankara caused by dissatisfaction with the overall situation. However, this does not affect the republic’s foreign commercial relations with cross-border territories and world powers. Also, the positive dynamics within the state is still there which is reflected in the foreign investment inflow and enhanced interest in Turkey shown by foreign companies.

If we consider the domestic standards, Ankara ranks second after Istanbul in terms of population and economy. In recent years, more than 3 thousand foreign companies, representative offices and branches were opened in the city.

Here’s the list of some key investment areas in Ankara:

• Industrial zones and technological areas;
• Scientific centers and research parks;
• Industrial groups of products;
• Logistics as a separate niche of business activity.
• Construction and real estate which is due to the large influx of tourists into the country, as well as an advantageous investment program under which one can acquire Turkish citizenship with the purchase of property from 400,000 dollars.

Limited Company in Ankara for Foreign Investors in 2022

Why do foreign business persons invest in businesses and property in the capital region, setting up new companies and representative offices of foreign firms? There are several reasons why Ankara retains its status as the best city for business with great prospects.

It is the capital which is a matter of prestige. It is the central city of the country where the most important administrative and industrial institutions are located, where life is bursting and direct access to the international market is provided. According to studies, it can be noted that the cost of living in Ankara is lower than the average for the European Union.

Ankara enjoys a good geographical position between Europe and Asia, with three continents nearby, and the intersection of highways and air routes. The city is the international trade routes hub where the logistics component is pro-actively developed and more than 2,500 vehicles are dispatched daily to domestic and foreign markets. The sea routes serve as the corridor from European countries to the Middle East and Asia.

Affordable prices and the cost of living in Ankara in 2022 look very competitive compared to such countries as the UK and the US. This applies both to moving for permanent residence and business registration. 

Here you will find skilled professionals, a young workforce ready to work in serious companies. The high-tech industry is especially advanced in Ankara, and university graduates are happy to develop new ideas and bring them to life.

There is a wide variety of Organized Industrial Zones (OIZ) in Turkey, 7 of which are located in Ankara. Company registration in an OIZ provides a number of opportunities:

• buying land in the OIZ, the investor is exempt from VAT;
• discounts in terms of the public utility payments;
• zero tax rate for the period of construction and operation of the facility.

Also keep in mind tax discounts for first-time business persons, as well as lucrative investment programs, the choice of which can be trusted to professional experts.

Turning to us, you get guaranteed support of lawyers and company registration in Turkey by a foreign national with opening a bank account in any jurisdiction.

How Do I Register a Limited Company in Ankara in 2022?

Many business persons from foreign jurisdictions start a business in Ankara without calculating the prospects and possible losses. It is this approach that is fundamentally wrong and can lead to the bankruptcy of the company in Turkey. It is also worth keeping in mind possible fraud that one can come across when talking to consulting agencies and intermediaries.

How Much Does It Cost to Set Up a Company in Ankara?

Costs of establishing a new company in Ankara depend on the authorized capital of the company and the field of activity. For example, you will have to pay for a license in the case of a legal entity engaged in construction or commercial operations. The main payments also include:

• contribution to the antimonopoly institution of the jurisdiction;
• deposit to the bank account in the amount of 25% of the share capital;
• services of a translator and a market expert (if necessary);
• purchase of equipment and staff salaries;
• tax payments;
• advertising campaign; 
• office rental or purchase of property.

There is no definite answer to the question of how much it costs to register a company in Ankara. However, we know for sure that opening a company in the Republic of Turkey will cost 1.5 to 2 times cheaper than the registration of similar business in Cyprus or any of the European countries.

Where Exactly Do I Register a Limited Company in Ankara in 2022?

Just like last year, in 2022 company registration in Ankara will be carried out by the Turkish Chamber of Commerce and Industry. The scope of the Chamber includes:

• international relations, including foreign trade;
• trade in the domestic market;
• commodity classification;
• publishing business;
• industrial sector;
• trade registry and registration of LCs, JSCs and companies of other organizational forms;
• statistics and B2B;
• research by sectors inTurkey;
• consulting, etc.

For more information on the Ankara Chamber of Commerce please visit the institution’s official website.

Step-by-Step Guidelines to Setting Up a Limited Company in Ankara

The general approach to establishing a Limited Company in Turkey includes the following steps:

1. Obtaining an individual taxpayer number.
2. Translation and notarization of all documents such as signatures of the founders, Articles of Incorporation, the Minutes book, the Power of Attorney, seal, passports of the founders/shareholders, etc.
3. Submission of an application for LC registration to the Registration Chamber and payment of the mandatory fee.
4. Opening a corporate bank account for the company in Turkey.
5. Antimonopoly fee (0.04% of the capital size). 
6. Registration of the company with the municipal office.
7. Payment of the environmental tax.
8. Renting an office in Ankara (home office and virtual office are allowed).
9. Payment of share capital to the account. For a Limited Company in Ankara, 25% of the company’s capital must be paid first, with the balance to be paid within 2 years.
10. Publication on the legal entity formation in an official newspaper.

For more detailed information on each item please refer to our experts. They will provide comprehensive information in case you make a contract for the foreign founder LC registration in Ankara.

Professional Assistance with Company Registration in Ankara in 2022

As it was mentioned above, when choosing a consulting company for professional assistance with setting up a legal entity in Turkey, it is important to make the right choice. Our Turkish partners are a team of professionals including lawyers, marketing experts, accountants and former high-ranking officials from various business structures in Turkey. 

We offer a comprehensive set of services for company registration in Ankara at the rate starting from 3300 USD. You do not need to come to the country, just send us the documents by mail and arrive at the specified time to sign the certificate and obtain it.

Documents Required for Registration of a Limited Company in Ankara in 2022

You can launch a business in Ankara, Turkey as soon as possible by contacting the experts of our portal. The shortest possible time we need to register a legal entity in Turkey is 5 working days. 

Here is the list of documents to be prepared for registration of an LC in Ankara by a foreign resident. They must be translated into Turkish and legalized at the Consulate/apostilled:

• information about the founder and shareholders, including their residence addresses;
• proof of financial standing (bank account statement);
• a bank account opened with a Turkish bank (our experts will tell you how to open it safely and promptly);
• Articles of Incorporation and the approved name of the future company;
• payment of 0.4% to the Antimonopoly Committee (bank receipt);
• signatures of authorized persons certified by a notary;
• application from each founder;
• photographs of the company owners

Upon registering your company with the Trade Registry, you will receive a certificate for doing business in Ankara, as well as the salary journal, the general ledger, the inventory journal, the share register and the general meeting minutes book.

LC Registration in Ankara. What Does It Cover?

Paying for company registration in Turkey, our clients receive:

• payment of the state duty;
• legal address for your LC in Ankara and services of registered agent;
• free consultation on the choice of the organizational form of business and the field of activity;
• preparation and registration of constituent documents, including the Articles of Incorporation;
• services of a notary, certified translator and apostilles;
• general power of attorney for one year;
• all books and journals required a foreign founder to conduct business in Ankara;
• issuance of company share certificates.

This list of services is not final and may be expanded at the request of the founder of LC in Ankara.

Set Up a Limited Company in Ankara Promptly and Remotely

In addition to the standard procedure for registration of an LC in Ankara, Turkey, we offer the following services, the cost of which will be included in the contract with our portal:

• lease of an office, actual or virtual;
• opening a bank account in Turkey for a non-resident legal entity or natural person;
• offshore account opening;
• accounting services;
• legal advice and legal defense in international arbitration;
• business planning;
• customs clearance, and dispute resolution;
• purchase of property and registration of property rights with subsequent receipt of residence permits and Turkish citizenship;
• interpreting and translation services, etc.

We work on a contractual basis and provide services to all foreign nationals, with the exception of blacklisted persons.