LIMITED COMPANY FORMATION EXPENSES IN TURKEY 2023

LIMITED COMPANY FORMATION EXPENSES  IN TURKEY 2023

           Incorporation of a limited company is a process that is completed within 3-4 working days on average, unless there is a specific situation. In this process, many various expense and expense items occur.

           When it is decided to establish a limited company, in case of renting a workplace or having a website or printing business card brochures, the establishment cost of the limited company starts.

        Limited company establishment costs, in order to be easily understandable; We can divide it into two: COMPANY'S SPECIAL COMMERCIAL COSTS and REGISTRATION AND REGISTRATION COSTS.

           While the establishment cost of a limited company is formed, the private commercial costs of the company are formed entirely according to the characteristics and size of your business. To give an example, expenses such as the rental expenses of the workplace you will use for your limited company, the costs of the fixtures to be used in the workplace, the costs of company vehicles or machinery, the costs of building a website, the costs of personnel employment, the costs of printing business cards, business cards, brochures, and advertising costs are completely specific to your business.

      Although the costs of registration and registration with official institutions within the limited company establishment costs show slight differences on the basis of provinces, it can be said that they are the same for every company. However, it is useful to explain; by the same, the costs are the same for companies with similar characteristics. For example, for companies with the same number of partners, the same amount of capital, and the same number of activities, the expenses are the same. On the other hand, the registration and registration expenses of a limited liability company with one partner and a limited company with five (5) partners will be different from each other.

HOW MUCH DOES THE ESTABLISHMENT COST OF A LIMITED COMPANY IN TURKEY?

      Registration, registration and announcement costs in the establishment of a limited company; It consists of registration expenses to the chamber of commerce, limited company capital fee, notary expenses, registration expenses to the tax office, preparation of the accountant articles of association and company establishment service fee, company stamps.

       These costs are the minimum costs required to establish a limited company. In addition, there may be some additional costs specific to your company. For example, if your company will be in the retail sector and in retail, there will be cash register equipment costs.

COST CASE STUDY OF ESTABLISHMENT OF A LIMITED COMPANY IN TURKEY 2023

The minimum establishment expenses of a limited liability company established in 2023 with a single partner, foreign (non-Turkish citizen), non-Turkish speaking, with a minimum capital (ten thousand TL) are as follows.

- Notarized passport translation - 3 copies; 64$

- Registration and announcement expenses to the chamber of commerce: 114$

-Notary Expenses: 42$

- Preparation of the articles of association, translator fees and establishment service fee: 210 $

-Tax office registration and stamp duties: $5

-Limited company stamps: 7$

TOTAL LIMITED COMPANY ESTABLISHMENT COST 442$

Note 1: The cost study has been prepared according to 2023 data, based on the minimum expense items required to establish a limited company.

Note 2: There may be some additional costs depending on the characteristics of your limited company. Buying a cash register POS device, having a high capital, having more than one partner, having more than one manager, having a foreign partner, getting a license from the municipality, registration with the chamber of industry, having more than one activity area, etc. Ask for the price for the current establishment cost specific to your company.

Note 3: If the establishment of a limited liability company is to be made with a power of attorney, add approximately $50 power of attorney notary fee.

HOW MUCH DOES THE FOUNDATION COST OF A LIMITED COMPANY IN THE VIRTUAL OFFICE IN TURKEY?

      It is possible to establish a limited liability company at the virtual office address in Turkey. The use of a virtual office is a very cost-effective solution for limited companies that do not need a physical workplace address for their commercial activities.

        For entrepreneurs who will establish a company in Turkey, we also provide virtual office address services at affordable costs.

        If you buy the virtual office address from us, you can consider the cost of establishing a limited company around $500, together with the virtual office fees.

HOW MUCH MINIMUM CAPITAL SHOULD BE TO START A LIMITED COMPANY IN TURKEY?

      The minimum capital required to establish a limited company in Turkey is ten thousand Turkish Liras. However, we recommend foreign entrepreneurs to establish a company with a minimum capital of one hundred thousand Turkish Liras.

       In the establishment of a limited company, the obligation to block the capital in the bank account has been abolished. That is, when establishing a limited liability company, no capital investment is required.

        So, you can start your company without investing any capital. After the company establishment is done, you can open a bank account for your company. And you can deposit the company capital into the company's bank account within two years.

SUMMARLY;  The cost of establishing a limited liability company in Turkey for a foreign entrepreneur is around $450.

        If you want the virtual office address for your company; We start your company at a cost of approximately $500, including virtual office fees. It is enough to come to our office with your passport. We prepare all the necessary documents.

        You can always contact us to get the updated cost chart for your business free of charge.

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