2024 LIMITED LIABILITY COMPANY ESTABLISHMENT COST IN TURKEY
2024 LIMITED LIABILITY COMPANY ESTABLISHMENT COST IN TURKEY
The establishment process of a limited company in Turkey and its costs during the establishment process are among the most curious topics for entrepreneurs who want to establish a limited company. If you want to establish a limited 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 COMPANY ESTABLISHMENT IN TURKEY?
One of the most curious subjects of many entrepreneurs who prefer a limited company to carry out commercial activities and make a prestigious start in Turkey is the establishment cost and expenses of the limited company. Because, in the process of establishing a new company, many various expenses and charges are encountered.
In addition, after the establishment of the limited 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 limited company in Turkey, the total costs of establishing a limited 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.
COSTS OF ESTABLISHMENT OF A LIMITED COMPANY IN TURKEY IN 2024
The main costs encountered in the establishment of a limited company in Turkey are the registration and announcement expenses ; of the chamber of commerce, the capital tax, the limited 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: $165
When establishing a limited 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 limited company established in 2024 with a minimum capital (50.000 TL) starts from approximately 165 USD.
B- Notary Expenses; $135
Notarized passport translations are made for non-Turkish entrepreneurs when establishing a company. After the registration and announcement of the limited 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 $135.
In addition, if the establishment of a limited 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 $90
D – Company Establishment Service And Sworn Translator Service Fee; $180
It is the fee for preparation of the limited 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.
LIMITED LIABILITY COMPANY ESTABLISHMENT TOTAL COST $480 USD IN TURKEY – 2024
Notes on limited company establishment expenses in Türkiye
Note 1: The limited company establishment costs that we shared above show the minimum establishment costs of a limited company established with a single partner and minimum capital (50.000 TL).
Note 2: In the establishment of a company with more than one partner, the establishment expenses will vary somewhat, as foreign partners will have additional costs such as passport translations and sworn translators.
Note 3: The minimum cost items we shared above have been prepared for informational purposes based on 2024 data, and may be updated over time depending on any updates in chamber of commerce registration expenses and notary fees. Please ask for prices for current costs.
Note 4: In establishing a limited company, the issue that is as important as the establishment expenses, or even more important, is determining the correct address to receive service. A team experienced in these matters will help you establish your company in a healthy way and guide you in the right financial matters. Because mistakes made during the company establishment process can lead to unnecessary waste of time and extra costs.
You can always contact us to get an up-to-date and detailed cost table for your business for FREE OF CHARGE.
2024 WHAT ARE THE MONTHLY EXPENSES OF A LIMITED COMPANY IN TURKEY?
Companies registered in Turkey have various variable and fixed expenses/expenses that occur in monthly, quarterly and annual periods.
Even if the limited company has no activity, the following expenses occur every period
a - Stamp Tax Of VAT decleration; 10$ 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.
HOW MUCH DOES IT COST TO ESTABLISH A LIMITED COMPANY IN TURKEY?
IN SUMMARY; The cost of establishing a limited company in Turkey in 2024 starts from $480 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 $150 each month for monthly accounting fees and stamp duty payments on tax returns.
You can always contact us to get an up-to-date and detailed cost table for your business for FREE OF CHARGE.
MOST ASKED QUESTIONS REGARDING LIMITED COMPANY OPENING COSTS IN TURKEY;
QUESTION 1; What is the total cost of establishing a single-partner limited company in Turkey?
The total establishment cost of a single-partner limited company in Turkey in 2024 starts from 480 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 limited 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 limited 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 limited company establishment cost, including virtual office provision, will be around $520.
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 limited company with legal entity partners in Turkey?
To establish a limited 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 limited company with a legal entity partner in Turkey will be approximately $1.100.
QUESTION 5; How much are the monthly expenses of a limited company in Turkey?
According to 2024 data, even if your limited company has no activities, you can think that it will have fixed expenses starting from approximately 150 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 limited 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 $600.
QUESTION 7; Do you provide limited company establishment services in cities other than Istanbul?
During the establishment process of a limited company, company founders must go to the chamber of commerce and a notary once for signature. 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 limited 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 limited company in Turkey?
We have established hundreds of companies so far. With our experienced and dynamic team, we establish your limited 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.
You can always contact us to get an up-to-date and detailed cost table for your business for FREE OF CHARGE.
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