Opening an import and export company in Turkey

 

The steps for opening an import and export company in Turkey are the most prominent thing we highlight in this article, as we will provide you with a clear guide that includes the stages and steps that will help you establish your company of any kind.

At the outset, we must mention what privileges Arab and foreign investors can obtain when establishing an import and export company in Turkey.

  1. Privileges of opening an import and export company in Turkey

The Turkish government will grant foreign investors, regardless of their nationality, many privileges, which will facilitate work and housing procedures in the Turkish state, and the most important of these advantages are:

  1. Prices commensurate with the quality of the goods:

Turkish goods are of a quality commensurate with their prices, which provides many job opportunities for investors, in addition to the increased demand for Turkish goods by many Arab countries.

  1. Unlimited Support:

The Turkish government pays great attention to the export sector due to its role in supporting the Turkish economy. The government grants Turkish citizenship to owners of major export companies, in addition to granting them special passports that are treated as diplomatic passports, but these privileges are not granted to all export companies, but only to exceptional companies that have proven their strength. And its activity in the field of export.

And if the value of exports in your import and export company is more than 800,000 Turkish liras, the Turkish government will exempt you from the requirement to employ Turkish workers to obtain a work permit, and Syrian investors are also exempted from this condition.

Note: The Turkish government is seeking to achieve its goal of reaching $500 billion in exports, so it will support all companies and institutions that will help it achieve its goal for 2023.

  1. Tax exemption:

You can recover a part of your taxes that are paid at the end of each year within the tax exemption provided to you by the Turkish government, through a lawyer you hire, and you can also consider this amount as profits added to your business.

  1. You can work as a broker:

The Turkish government does not require you to be the manufacturer, but rather it can be a commercial intermediary, as it gives you a golden opportunity by marketing the goods of other companies and exporting them under the name of your company.

 

What are the steps to follow when opening an import and export company in Turkey?

The Turkish government allows you to establish 4 different types of companies, and the type of company you decide to establish determines the size of your company and the capital you need, and you have to select the type of company you want in order to go through the establishment steps correctly.

Among the types of companies that Turkish law allows you to establish are:

 

 

 

  1. Limited Liability Company (LTD).
  2. Shareholding company.
  3. Simple recommendation company.
  4. The joint venture.

As for the steps that must be followed when opening an import and export company in Turkey, they are as follows:

First Step: Securing the required papers and documents.

Establishing a company in Turkey, you need to provide all the documents and documents required for this project, which are:

  1. A copy of your passport, certified and translated into Turkish.
  2. Extract your tax number.
  3. Obtaining a security approval that gives you permission to establish your company in Turkey.

 

Second Step: Choose your company's headquarters in Turkey.

You must choose the headquarters of the company according to the articles provided for by Turkish law, and you have two options for the headquarters of your company:

  1. Either your real company headquarters is located on the ground so that you rent it to carry out your activity, and the average cost of this headquarters is between 1500 and 2000 Turkish liras, but one of the negatives of this option is that it is a little expensive as you have to pay 4000 Turkish liras as a security amount for the company, and an amount 2000 TL for the broker, plus the fee.

 

  1. Or that the headquarters of your company be virtual so that the headquarters is present but fictitious, that is, you cannot conduct your company's activity there, and this matter is recognized by Turkish law.

 

The third step: the company's capital in Turkey.

The capital that you specify when opening an import and export company in Turkey is an important point, as Turkish law sets the minimum amount for establishing your company, which is 10,000 Turkish liras, but this amount does not entitle you to obtain any privileges from the Turkish government, so we advise you to start your project with 100 thousand tl, this will entitle you to get these privileges:

  1. Obtaining a work permit or residence in Turkey.
  2. The ability to join trade organizations, corporate and business groupings in Turkey, such as TÜRSAB or MUSIAD.
  3. The privilege of enabling you to make large contracts by facilitating the process of importing and exporting Turkish goods.

Note : You do not have to deposit the capital in the bank during the stage of establishing your company in Turkey, and you can deposit the amount before you apply for a work permit, or within two years from the date of establishing your company.

 

 

What are the executive stages that must be followed when opening an import and export company in Turkey?

 

  1.  Writing the Memorandum of Association of the company in Turkey

A meeting is held with the specialists to determine the commercial activities that you will practice in your company, and you will also announce through this meeting the capital that you have allocated for the establishment, in addition to determining the shares of the partners.

The name of the company, its official address and all the information and powers related to the company are chosen for the individuals who work in it.

  1. Finalizing the procedures of the Chamber of Commerce in Turkey.

After writing the contract, you must go to the notary to register your company, extract your commercial registration and event certificate, and then go to the tax department to extract your tax plate after you registered your company, and you can assign a specialist to complete the procedures or do them personally.

  1. Approval of the signature of your company in Turkey.

The stage of approval of the signature comes after you obtain your commercial register, and all the necessary papers from the Chamber of Commerce.

  1. Agreement with a chartered accountant in Turkey and writing a contract between you.

After you have completed all the previous implementation stages, you must search for a chartered accountant to conclude a contract between your company and the accountant, through which the accountant will inform you about the dues that you must pay, which include monthly and annual taxes, and the rest of the obligations of the company.

  1. Opening the company's bank account and depositing the capital

You have to find a strong bank that is good at dealing with Arab and foreign investors in Turkey to open an account for your company, and you will deposit the capital that you declared in your company’s founding contract, and then you will get a paper proving that you deposited your capital in the bank account that you established for your company in Turkey.

By following these stages, you will have completed the process of opening an import and export company in Turkey, and you can start your business legally without any obstacles.

Thus, we have provided you with everything you need to complete the process of opening an import and export company in Turkey, as we mentioned the steps and presented you with the stages you will go through, in addition to mentioning the privileges granted by the Turkish government to exporting companies.