The commercial register of the company in Turkey

The commercial registry of the company in Turkey is a file with the Ministry of Commerce in which the names of merchants and all the details of their industry or trade, whether they are people or institutions, are registered. The commercial registry is a prerequisite for establishing a new company in Turkey, and it can be obtained from the Chamber of Commerce office.

The commercial register of the company in Turkey

• The commercial registry of the company in Turkey is a record in which all the company’s details and data are recorded, such as the company’s headquarters, information about the directors, employees and workers of the company.
• The commercial register is extracted within ten days only from the date of submitting the required papers and documents to the Chamber of Commerce.

How to get a merchant card in Turkey

• A trader's license can be obtained from the Chamber of Commerce of the Turkish states.
• The application is submitted through the company's chartered accountant.
• The application form is filled out and signed.
• Submit all required papers to the responsible worker.
• The trade license will be sent to the company's headquarters within 10 days.

Commercial Registry Jobs

• Statistical functionality: identifying the volume of commercial, economic, agricultural and other activities, so that the state can accurately set its development plan.
• National job: the person whose name is registered in the commercial register is called a merchant, while the person who is not registered is not considered a merchant.
• Informational function: The commercial registry is a record located in the Ministry of Commerce that is concerned with recording the names, activities, addresses and all information related to merchants, so that any merchant can know any data about another merchant, and banks can easily inquire about merchants dealing with them.

Persons obligated to be registered in the commercial register

• A merchant person who owns a commercial store.
• All commercial establishments except for “joint stock companies” because they are a hidden company that does not disclose its business and commercial activities.
• Some companies should also be registered in the commercial registry, such as joint liability companies, limited partnerships with shares, joint stock companies, and simple partnerships.
• All commercial agencies as well as commission agency and distribution agencies.
• All agencies of foreign companies.
• Cooperative societies operating in commercial activity, such as the Agricultural Society and the State Employees Association.

Documents required to obtain a commercial register

• A copy of the tax card.
• A copy of a valid ID.
• A lease contract for the premises of the commercial activity notarized by the real estate registry.
• A copy of the electricity receipt.
• Bring a certificate of good conduct attested by the Ministry of Interior.
• Attach the original company contract or a copy of it.
• Submit a request to the Chamber of Commerce to issue a certificate to practice commercial activity.
• Submit a notarized power of attorney.

Steps to extract a commercial registration

• The applicant fills in a commercial registration application form and sends it to the employee at the Chamber of Commerce in your area.
• The employee records the applicant’s data and directs the company owner to the Chamber of Commerce’s representative in the commercial registry.
• Send the application form with all required data, papers and documents to the representative.

• The representative undertakes the task of examining and reviewing all papers, and setting a specific date for receiving the commercial register.

What are the types of companies in Turkey and the differences between them?

There are 4 types of Turkish companies, and they are as follows:

Joint Stock Companies SA

• The company's capital is divided into shares to be distributed to the participating shareholders, and their position and obligations in the company are determined based on the percentage of shares they own.
• The number of founders of the company should be five individuals with a capital of at least 50 thousand Turkish liras, equivalent to 9 thousand dollars.
• A person is required to pay a quarter of the amount before starting to register the company.
• Joint stock companies can practice any commercial activity in them except for activities that require permissions from the Ministry of Commerce, and this is in accordance with the Turkish law issued.
• These companies include a supervisory board and a board of directors.

Limited Liability Companies

• This type of company is referred to as small and medium enterprises.
• The number of shareholders in the company should not exceed 50 shareholders.
• The company's capital must not be less than 10 thousand Turkish liras, or approximately 2000 dollars.
• But if the company consists of shareholders, the capital of this company must not be less than 12,500 Turkish liras.

Companies with special legislation

• In most cases, obtaining a license for these companies is very difficult, due to the multiplicity of their conditions and also the difference in the administrative reference for obtaining the license.
• These companies include: holding companies, insurance companies, banking companies, debt collection companies, and others.

joint ventures

• These companies are created to set up a specific business with a specific trade name.
• The liability of all participants is limited. Each shareholder has his own obligations in the company.
• It does not require a certain amount of capital, but all participants should be real individuals.
• The company incorporation system is used to determine the responsibilities and rights of shareholders in the company.

Procedures for establishing a company in Turkey

• No more than one individual is required to set up a Turkish limited liability company.
• The company is owned and managed by foreigners with a permit.
• If you want to establish a modern Turkish company, in this case it is necessary to appoint a competent lawyer who has experience and is fluent in the language spoken by the owner of the company.
• It is also required to appoint an honest chartered accountant for government transactions and to manage the company’s capital by receiving all company bills and costs and registering them in the state departments in Turkey.
• The establishment of the company does not require more effort and time, as you can open a new company in less than 7 days.

 Documents required to establish a company in Turkey

• A copy of the passport translated into Turkish, it must be notarized and stamped, and its validity period should not be less than six months.
• The tax number card can be obtained from the Turkish Tax Authority.
• 3 new personal photos.

Work permit and health insurance for workers in Turkish companies

• After all the procedures for officially registering the company are carried out, the Ministry of Social Security is informed of the opening of the new company in Turkey by the Commercial Registry.
• Requires registration of all employees and workers of the company in social insurance, including managers.
• Social insurance is mandatory for all employees, workers and managers of the company.
• The company is obligated to pay all insurance fees and premiums on a permanent basis for each worker and employee working in the company, and insurance fees are estimated at about 750 pounds per month.
• The company's chartered accountant must also prepare all the documents relating to the employees, and pay the insurance amount.
• In the event of a delay in payment for a specific reason, the company will be required to pay all required insurance fees in addition to paying a late tax for each month.

Steps to establish a company in Turkey

• A incorporation system must be prepared and signed by a notary, as well as attaching the company’s headquarters, in order to establish a new company in Turkey.
• It requires a deposit of about 25% of the amount of bank capital.
• It is preferable that the amount of capital exceed the value documented in Turkish law, so that it is not less than 100 thousand liras, to benefit from all the powers provided by Turkish law, the most important of which is the issuance of a work residence permit for the company’s owners, employees and employees of the company.
• It is not required to deposit the capital during the establishment of the company, provided that the amount is deposited within two years from the date of the establishment of the company and before submitting a Turkish work permit.
• A company bank account must be created to deposit the capital, to facilitate the company’s transactions, and to extract a commercial register from the Chamber of Commerce with ease.
• Submit an original copy of the company's articles of incorporation, along with 2 identical copies of it.
• The papers must be submitted to the Commercial Registry within 15 days of being signed by a notary public.
• Limited liability companies are required to comply with Article 279 of Turkish law.
• The articles of incorporation of the company must explicitly include the company’s headquarters, and it must be noted that the articles of association will be publicly published in the official trade gazette.
• After the establishment and opening of the company and its registration in the Commercial Register, the company should be registered with taxes, and a tax officer will be sent within several days to verify the company’s tax card.