Starting your own business is always an intense experience. On the one hand, there is the excitement of seeing your project come alive, along with the expectation of financial gain; on the other hand are the somewhat burdensome administrative requirements. Turkey is no exception and you will have you go through a number of bureaucratic procedures, but the country’s significant business opportunities definitely make it worth the effort.

The shareholders are the founders of the company, or better said the owners of the business. These can be natural persons or companies and have various rights, but also duties in the company. The minimum number of shareholders a Turkish company can have is one in both private and public companies. These can be Turkish citizens or residents; however, foreigners can also act as sole shareholders when opening a company in this country.

Foreigners interested in immigration to Turkey and business development can get in touch with our local agents at Inception estate.

One of the most important steps in opening a company in Turkey is the preparation of the documents needed to register the business with the Trade Registrar. The main set of documents which need to be drafted and notarized is the Articles of Association which need to contain all the details of the shareholders – their names, their places of residence, their contribution to the share capital of the company and the number of shares they own in the business. The Articles of Association must also contain information about the managers of the company, including their name, the way in which they are appointed and can be revoked and their duties and obligations.

The same document must clearly state the Turkish company’s trade name, its address in this country and a description of the object of activity. The Articles of Association can also contain other clauses, related to the amendments which can be brought to the company and dispute resolution methods if any problems appear between the shareholders. It is very important for the Articles of Association to be drafted in accordance with the provisions of the Commercial Code.

If you are a foreign entrepreneur and want to open a company in this country, Inception estate can help you with the preparation of these documents.