The establishment process of a joint stock company in Turkey and its costs during the establishment process are among the most curious topics for entrepreneurs who want to establish a joint stock company. If you want to establish a joint stock company for your commercial activities in Turkey and are wondering about the expense items encountered in this process, we have done a detailed study for you.
If you have similar questions like the ones below, we hope that you will find answers to most of your questions in this article we have prepared for informational purposes.
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WHAT IS TOTAL COST FOR JOINT STOCK COMPANY ESTABLISHMENT IN TURKEY?
One of the most curious subjects of many entrepreneurs who prefer a joint stock company to carry out commercial activities and make a prestigious start in Turkey is the establishment cost and expenses of the joint stock company.
Because, in the process of establishing a new company, many various expenses and charges are encountered.
In addition, after the establishment of the joint stock company, since it will take some time for the company to generate revenue with the advertising and marketing sales processes for its commercial activities, knowing the fixed and variable expenses in this time period will shed light on the road map to be prepared and will help the entrepreneurs to create a cautious business plan accordingly.
In order to present an idea to the entrepreneurs who want to establish a joint stock company in Turkey, the total costs of establishing a joint stock company in 2024 are as follows.
However, these expenses are minimum costs. The number of partners in your company may vary somewhat according to various criteria such as the sector of the company, the number of business areas, the amount of capital, the number of words in the articles of association. You can always contact us to get an up-to-date and detailed cost table for your business for FREE OF CHARGE.
The main costs encountered in the establishment of a joint stock company in Turkey are the registration and announcement expenses; of the chamber of commerce, the capital tax, the joint stock company establishment service fee, the passport translation, the sworn translator's fees, signature circular of the company manager , power of attorney for accounting and company stamps.
These cost items are the basic, minimum costs required for the company to be officially registered, to issue the tax plate and for the company to be able to issue invoices. According to 2024 data, these minimum costs are approximately as shown below.
A- Chamber of Commerce registration and announcement expense & capital fee: $182
When establishing a joint stock company, a registration fee is paid for the registration and announcement of the company in the chamber of commerce. In addition, a capital fee of four ten thousandths of the company's capital is paid to the chamber of commerce.
Chamber of Commerce registration, announcement expense & capital fee of a joint stock company established in 2024 with a minimum capital (250.000 TL) starts from approximately 182 USD.
B- Notary Charges; $150
Notarized passport translations are made for non-Turkish entrepreneurs when establishing a company. After the registration and announcement of the joint stock company, the director of the company issues the signature circular showing the signatures that he will use while representing the company from the notary public. It also issues a power of attorney from the notary public. These costs will be around $150.
In addition, if the establishment of a joint stock liability company is to be made with a power of attorney, the company establishment power of attorney is also issued. This will cost an average of $88
C – Company Establishment Service And Sworn Translator Service Fee; $248
It is the fee for preparation of the joint stock company articles of association, completion of the company establishment procedures on a turnkey basis, sworn translator service, chamber of commerce and tax office registrations and consultancy services.
Our highly experienced and dynamic team establishes your company on a turnkey basis within 3-4 business days. All necessary documents are prepared by us, and all official records and notifications are made.
Note 1: The joint stock company establishment costs that we shared above show the minimum establishment costs of a joint stock company established with a single partner and minimum capital (250.000 TL).
Note 2: In the establishment of a company with more than one partner, the establishment expenses will vary somewhat, as foreign partners will have additional costs such as passport translations and sworn translators.
Note 3: When establishing a joint stock company, it is obligatory to open a bank account and block at least twenty-five percent of the capital. For this reason, the capital value to be blocked must be ready.
Note 4: The minimum cost items we shared above have been prepared for informational purposes based on 2024 data, and may be updated over time depending on any updates in chamber of commerce registration expenses and notary fees. Please ask for prices for current costs.
Companies registered in Turkey have various variable and fixed expenses/expenses that occur in monthly, quarterly and annual periods.
Even if the joint stock company has no activity, the following expenses occur every period
a - Stamp Tax Of VAT decleration; 10$ around - every month
b- Witohilding Tax - Stoppage ; It starting 40$ around for every THREE month.
c - Stamp Tax Of Corporate Tax; 20$ around for every THREE month
d - Accounting Books Approval Expenses ; It starting 120$ around for EVERY YEAR.
e- Accounting & Bookkeeping Service fee; It is starting 120$ around . It is determining according to company business volume and needs. Please ask offer.
IN SUMMARY; The cost of establishing a joint stock company in Turkey in 2024 starts from $580 for foreign investors. The total establishment cost will be clarified according to criteria such as the number of partners of your company, the number of areas of activity, and the number of authorized/representatives.
Even if the company has no activity, there will be fixed costs of around $160 each month for monthly accounting fees and stamp duty payments on tax returns.
QUESTION 1; What is the total cost of establishing a single-partner joint stock company in Turkey?
The total establishment cost of a single-partner joint stock company in Turkey in 2024 starts from 580 USD. This cost is TURN-KEY ESTABLISHMENT COST. Chamber of commerce registration and announcement, tax office registration, sworn translator, notary expenses, articles of association preparation service fee, etc. All establishment expenses are included.
QUESTION 2; Will the cost increase if the number of partners of the joint stock company to be established in Turkey is more than one?
Since partners' passports will be translated, the total cost will vary slightly depending on the number of partners. Additionally, if more than one manager is appointed, notary and chamber of commerce costs increase slightly.
QUESTION 3; What is the total cost of establishing a joint stock company at a virtual office address in Turkey?
It will vary depending on the features of the virtual office to be rented and the rental period. Roughly, you can add virtual office costs to the total establishment cost we explained above.
If you want to rent a virtual office from us, the monthly fee is 20 USD for the monthly rental period. In the establishment, a contract fee of 40 USD is charged as one rent in advance and one rent deposit. In this way, the total joint stock company establishment cost, including virtual office provision, will be around $620.
Optionally, rentals can be made with 6-month or annual payment periods at more affordable costs.
QUESTION 4; What is the total cost of establishing a joint stock company with legal entity partners in Turkey?
To establish a joint stock company with legal entity partners in Turkey; Registry documents in the country where the legal entity company is registered must be notarized and apostilled. Documents also should have notarized Turkish translations in Turkey. The cost increases slightly due to the additional costs of legal entity documents.
Additionally, since the establishment of a legal entity is a little more complicated, the establishment service fee will be slightly different. With additional costs, the cost of establishing a joint stock company with a legal entity partner in Turkey will be approximately $1.300.
QUESTION 5; How much are the monthly expenses of a joint stock company in Turkey?
According to 2024 data, even if your joint stock company has no activities, you can think that it will have fixed expenses starting from approximately 160 USD every month. Fixed costs will vary slightly depending on criteria such as the characteristics of your company, the number of invoices, the number of workers, import-export.
QUESTION 6; How much does it cost to establish a joint stock company with power of attorney in Turkey?
In order to establish a company in Turkey with a power of attorney, you must obtain a power of attorney in your own country and in your own language. The power of attorney must be notarized and also apostilled.
If you cannot get apostille approval, you can get approval from the Turkish embassy instead. When the power of attorney reaches us, we will make notarized Turkish translation.
The cost of having a notarized Turkish translation of a power of attorney will be approximately $110. In this way, you can think that the cost of establishing a company with power of attorney is approximately $680.
IMPORTANT: When establishing a joint stock company in Turkey, a bank account must be opened during the establishment process and at least one quarter of the capital must be blocked.
Power of attorney may be a problem when opening a bank account. That is, the bank officer may not accept the power of attorney. Therefore, before establishing the company, it will be useful to talk to your banker and confirm that there will be no problems in opening the bank account.
If you have problems with the process of opening a bank account, we recommend that you establish a limited company instead of a joint stock company. It is not necessary to open a bank account when establishing a limited company. You can open your bank account after establishing the company.
QUESTION 7; Do you provide joint stock company establishment services in cities other than Istanbul?
During the establishment process of a joint stock company, company founders must go to the chamber of commerce and a notary once for signature and a bank for capital payment. All other transactions are electronic. In this way, we can follow and complete the entire establishment process of our customers in different cities. We prepare all the necessary documents and provide the necessary guidance.
In this way, we have many customers that we serve in cities other than Istanbul.
For entrepreneurs who do not need a physical workplace for their commercial activities, we provide a virtual office address in Istanbul, if they wish. We establish joint stock companies on a turnkey basis with a power of attorney sent by a notary.
QUESTION 8; Why should we work with you to establish a joint stock company in Turkey?
We have established hundreds of companies so far. With our experienced and dynamic team, we establish your joint stock company on a turnkey basis within a few days, without any problems.
We offer cost-effective package solutions for all your needs in Turkey such as company establishment, accounting, financial consultancy, tax, payroll, virtual office, residence permit, work permit, trademark registration.
To establish a company and do business in Turkey, it is sufficient to come to our office with your passport. We take care of everything else.
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