FURNITURE STORE COMPANY FORMATION COST IN TURKEY
FURNITURE STORE COMPANY FORMATION COST IN TURKEY
If you are wondering the answers to similar questions about establishing a Furniture store company in Turkey, you are at the right place.
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From our entrepreneur friends who want to establish a Furniture store company in Turkey and who want to engage in commercial activities in this field, from the questions sent to our company, the establishment process of the Furniture store company, its costs, permissions, monthly expenses, etc. We have written the following article to guide you on these issues.
If you are considering establishing a Furniture store company in Turkey and want to engage in commercial activities in this field, we think you will find answers to most of your questions on this page. If you need more information about establishing a Furniture store company other than the information on the page, you can always contact us. We will be happy to assist you.
STEP BY STEP FOUNDING A FURNITURE STORE COMPANY IN TURKEY
1. Determining the Correct Address to Get Service
The first thing that entrepreneurs who decide to establish a Furniture store company should determine is to determine the right address to get support for the establishment and subsequent accounting processes of the company. A team experienced in the establishment and financial processes of the Furniture store company will ensure that your company is established on a legal basis, guide you correctly and protect your business against financial risks.
2. Determining the type of Furniture store company
In order to establish a Furniture store company in Turkey, one of the first things you need to determine is the legal type of the company. In order to carry out commercial activities in this sector, you can choose a Limited company or an Incorporated company.
The most preferred company type in Turkey by foreign entrepreneurs is limited liability company. In addition to being prestigious, a limited company is easier to establish than a joint stock company. Also, the costs of a limited company are less than a joint stock company.
3. Determination of Furniture store company address
It is not possible to establish a company without a workplace address in Turkey. For this reason, when establishing a company, you must determine the legal business address where your Furniture store company will be established.
If you do not need a physical office or workplace for your Furniture store company, you can also establish a virtual office address at affordable costs.
Using a virtual office address is a very cost-effective solution, so Real Estate is preferred by many entrepreneurs engaged in Furniture store activities.
4. How much is the establishment cost of a Furniture store company in Turkey?
The cost of establishment of a Furniture store company varies according to the type of company to be preferred.
If you prefer a limited company, the cost of establishing a limited company in Turkey for a foreigner starts from approximately 420 USD, according to the minimum data of 2023. This cost includes the registration of the limited company in the chamber of commerce, notary expenses, company establishment service fee, translator costs, tax office registration, company stamps, etc included.
Even if you prefer an Incorporated /Joint StockCompany for your Furniture store activities, there will be establishment expenses starting from 610 USD according to the minimum data of 2023. This cost is the establishment expenses of the company and does not include the capital to be blocked.
5. How long does it take to establish a Furniture store company in Turkey?
We complete the establishment of Furniture store Limited company in Turkey within 3 or 4 working days on average.
The establishment process of the joint stock company is completed within an average of 4 - 6 working days.
6. What are the documents required to establish a Furniture store company in Turkey?
In order to establish a Furniture store company in Turkey, the documents that the founder must prepare are as follows;
- Notarized Turkish translation of the passport - 3
- Three photos
-Personal tax number obtained in Turkey
Note : If you come to our office, we prepare all the necessary documents.
7. What are the monthly expenses of the Furniture store company in Turkey?
After the establishment of your Furniture store company in Turkey, EVEN IF THE COMPANY HAS NO COMMERCIAL ACTIVITY, there will be some monthly and periodic expenses. While some expenses are fixed every month, some expenses are based on criteria such as your company's activity volume, employee employment, number of invoices and income and expense status.
The fixed expenses of the Furniture store company every month are as follows.
- STAMP TAX of value added tax declaration; 194.60 TL - Every month
- STAMP TAX of provisional tax/income declaration; 393.90 TL – Quarterly
- Withholding Tax and STAMP TAX on the declaration; You can think of it around 650 TL – Quarterly (Declaration is given every month if there is a worker)
- Accounting service fee; Determined by company type and business volume – Paid monthly.(ask for price)
- Ledger confirmations & Expense Contribution ; It varies according to the type of company. Once a year.
IMPORTANT NOTE; These expenses are the monthly fixed expenses of a Furniture store company registered in Turkey, which has no activity. Apart from these, there will be expenses according to the size of the company's activity volume, which are formed according to criteria such as the size of the company, turnover, employment of insured workers.
FOR EXAMPLE ; If you employ a minimum wage employee in your Furniture store company, a SSI premium payment of 3,753 TL will be incurred every month in addition to the salary of the personnel. SSI Premiums vary according to the salary of the personnel.
8. What are the necessary permits to open a Furniture store company in Turkey?
In the establishment processes of the Furniture store company in Turkey, we are registering with the trade registry, registering with the tax office, and registering the workplace with the social security institution (SGK) if workers are to be employed.
If you are going to operate in a physical workplace/shop for your Furniture store company, you must apply to the municipality you are affiliated with after completing the establishment procedures of your company and obtain the license to open and operate a business. We do this too.
9. Can foreigners open a Furniture store company in Turkey?
Yes. Foreign nationals can establish a Furniture store company in Turkey with their passports. There is no legal restriction.
10. Is a Turkish partner required to establish a Furniture store company in Turkey?
In order to establish a Furniture store company in Turkey, a Turkish citizen partner is not obligatory. With your passport, you can establish a company in your own name in Turkey. And you can be the legal representative of the company yourself.
11. Do I need to employ workers after establishing a Furniture store company in Turkey?
Once you set up a Furniture store company, it's entirely up to your business whether to hire staff or not. If you don't need it, you don't have to employ staff. You can set up your own company and engage in commercial activities.
12. Is capital required to establish a Furniture store company in Turkey?
It is not necessary to deposit capital in a bank account while establishing a Real Estate Real Estate Limited company in Turkey. That is, there is no need for capital when establishing the company.
After establishing a limited company, you can open a bank account in your company. And within two years, you can deposit the capital into the company's bank account.
If you choose an Incorporated company for your Furniture store activities, at least a quarter (25%) of the company's capital must be available when establishing the company. The minimum capital that joint stock companies can be established in Turkey is 50.000 TL. An A.Ş. with a capital of 50,000 TL. In order to establish a bank, at least 12,500 TL must be blocked in the bank account at the institution.
13. I want to establish a Furniture store company in Turkey. Where should I start?
When you decide to establish a Furniture store company in Turkey, you can always send us your request via e-mail, phone or whatsapp application.
In the first place, we prepare the current and detailed cost table for your Furniture store company for FREE. We send our service offers together with the cost table.
If costs and service offers are suitable, you can always visit our office to start the establishment process, to meet and to conduct detailed consultations.
If you do not want to come to our office, wherever you are in the world, we establish your company on a turnkey basis, without even having to come, with a company establishment power of attorney that you will send from the notary public or the Turkish embassy.
If you want, we also provide a virtual office address in Istanbul for your business. We complete all official records and procedures quickly.
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