When looking for a country with no bans for business expansion and relocation, many business persons prefer to go somewhere south, and Turkey still holds the leading positions. Any foreign national or legal entity who focuses on the international market or plans to localize their business in this country in the long run can open an LLC in Izmir in 2022.
- Business immigration to Turkey in 2022. Basic information
- Why is Izmir, Turkey, so good for investment and business incorporation?
- Open an LLC in Izmir
- LLC formation in Izmir. Information for foreign business persons
- LLC in Izmir. Conditions and requirements for registration
- How do I open an LLC in Turkey? FAQ
Speaking about Turkey as a country for business incorporation, it is important to note its advantageous geographical position, and residence programs which include temporary and permanent residence permits, business immigration and company registration.
Why is business in Izmir attractive to investors? How does one open an LLC in Turkey with the least financial investment? Let’s look into these topics in more detail.
If you are a business person, a freelancer or a wealthy individual interested in moving to another country in 2022, then the choice of a country for business immigration is a very important step. Professional experts, lawyers and economic analysts of our portal will assist you along this way.
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Business Immigration to Turkey in 2022. Basic Information
Today, many people are looking for countries to immigrate to, both for permanent residence and for building a business. In 2022, Turkey is one of the countries that has preserved the same requirements for foreigners regarding setting up an LLC in Izmir or any other Turkish city, as well as for obtaining a business visa, work permit, property purchase and application for Turkish citizenship.
In this situation, the demand for property in Turkey is only growing together with the prices.
Important note. The new conditions of the Turkish citizenship program for property in 2022: the minimum value of the apartment, house or commercial property is 400,000 U.S. dollars. At the same time, you can get a residence permit on the same conditions as before, including the purchase of property at any price.
Izmir is rather affordable compared to Istanbul and Mugla, and it is one of the most promising provinces, both for buying a property with subsequent moving for permanent residence, and for registering a company, be that LLC, JSC, partnership, etc.
Why is Izmir, Turkey, So Good for Investment and Business Incorporation?
Izmir is one of the major cities of Turkey, the second largest port in the region after Istanbul, and the third largest city in terms of population. Izmir is located on eastern coast of the Aegean Sea that includes industrial and agricultural areas of the country.
Here is the list of resources of the Izmir province that allow investors to register new businesses here, relocate their companies from other countries and develop their businesses in different sectors.
- Today, when imports and exports are actively developing, Izmir grows figs exported to Europe, grapes, olives, tobacco, peaches, quince, plum, pomegranate and nuts. Companies registered in this province can be engaged in exports and carry out commercial operations with guaranteed income.
- The Izmir province also produces honey, vegetables and melons.
- Other sectors for large corporations are the processing of oil products, mechanical engineering plants, the production of ferrous metal, steel and pipes.
- Izmir continuously expands such industries as textile and food production which can be of interest not only for experienced investors but also for start-up business persons.
- The most popular lines of business sought after by foreign investors in Izmir are the chemical and electric-power industries, as well as the production of building materials.
- If your goal is to open an LLC with a single founder (shareholder, director) in Izmir after moving to Turkey, you can profitably engage in various public services (make-up artist, stylist, interpreter/ translator, guide, consulting, cleaning and other). You can also open a mini-market, a cafe, rent out your property, grow flowers and vegetables.
Every investor versed in the intricacies of marketing will find a field of activity in Izmir to expand their business and form a new company (local or international). If you need extra support, our experts will go every step of the way with you. In addition to the above-mentioned fields, many foreigners register a company for the purpose of mining and quarrying, investment in real estate and construction, as well as to earn money in hotel business which is very popular.
Open an LLC in Izmir
If you are planning to move to Turkey for permanent residence or just wish to set up a business in this country, Izmir is the city that provides many opportunities for living, leisure and business. Experts of the International Wealth portal together with our Turkish partners are ready to provide comprehensive support on the legal entity formation in Izmir in 2022, including consulting and practical support at every step which covers business licensing, opening a bank account and registration of a Limited Liability Company.
Before registering a company in Turkey, it is advisable to decide on the legal form of business. If JSC (joint-stock company) is of relevance for large companies, LLC in Izmir will be sufficient for first-time business persons.
A Limited Liability Company has no requirements for a large initial capital and can be registered by a natural person and a legal entity, including non-residents of the Republic of Turkey.
LLC formation in Izmir. Information for foreign business persons
Here is the information for those who wish to open their own business in Izmir and officially declare themselves as sole proprietors (LLC). Turkish law provides a wide range of opportunities for foreign investors who are ready to invest and earn.
Limited Liability Company is a form of business that covers both LLC and sole proprietorship. In 2022, company registration in Turkey will be carried out via a single window at the Chamber of Commerce where all documents are submitted.
The time required for registration of a new company in Turkey with the support of our partners is from 3 to 5 days. In the case of opening a bank account. This period may sometimes be extended up to 30 days due to numerous requests for account opening.
Important note. Both residents and non-residents of the jurisdiction can open a bank account in Turkey. It is always possible to order extra services such as opening of a bank account together with the company formation.
LLC in Izmir. Conditions and Requirements for Registration
In 2022, it is possible to register a company in Turkey regardless of city and region, rapidly and without issues, knowing all the subtleties of the legal framework.
- The number of LLC founders in Izmir is limited to a maximum of 50 persons and a minimum of 1 person (natural person or legal entity.
- The company’s authorized capital cannot be less than 10 000 Liras. It should be credited to the account within two years.
- Among the fees that form an integral part of the limited liability company registration process in Turkey is the contribution of 0.04% of the authorized capital stipulated in the founding documents to the country’s anti-monopoly authority.
- All LLC founders are solely responsible for their part of the investment.
- Managing staff of the company in Izmir should include at least 1 director. A resident of Turkey or a non-resident of the country may be appointed.
If a foreign national is appointed to the position of the LLC director in Izmir, they are required to obtain a work visa or citizenship which is possible under the investment program, including Turkish citizenship by investment.
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How Do I Open an LLC in Turkey? FAQ
In conclusion, we will try to answer the most pressing questions of our potential customers wishing to register an LLC in Turkey, including Izmir, Bursa, Istanbul, Ankara, Antalya and other cities of the Mediterranean region.
How do I open a company in Izmir or another city in Turkey remotely?
In order to register an LLC without visiting the country in person, it is sufficient to prepare the required documents and submit them to the Chamber of Commerce via an authorized representative. All you will need to do is come to the country for the final signature to open a bank account (sometimes remote opening is allowed) and to obtain your Business Activity Certificate.
What documents should I submit to the Turkish Chamber of Commerce to register a company?
Here is the standard list of documents required for a limited liability company registration in Turkey in 2022:
- IDs of company founders;
- Articles of Association;
- proof of contribution to the antimonopoly authority;
- company’s tax number;
- registered address confirmed by an office lease or purchase agreement;
- confirmation of the local address of the LLC.
What services do the International Wealth experts provide?
In addition to the LLC formation in Izmir or another Turkish city, we can assist you with the following:
- open a bank account offshore or in any country;
- obtain a residence permit and citizenship by investment;
- choose property both for life and leisure and business activities;
- advise on any related issues.
How can I contact you and make a contract?
Sign up for a preliminary consultation by emailing to: firstname.lastname@example.org.
We will discuss all the details and make a contract for the LLC registration in Izmir with your presence or by power of attorney. The list of documents required from the applicant will be sent to you as soon as all the details are clarified.
Important note. We work only on the condition of partial prepayment (50%) and guarantee compliance with all terms of the contract made with our customers.
If you are interested in starting a company in Turkey, business immigration, citizenship by investment in 2022, or should you have any other questions, you can find the relevant information in our articles or contact our experts directly.