• +90 212 438 0464

How to Establish a Foreign Partnership Company?

How to Establish a Foreign Partnership Company?

There is no legal obstacle for foreign natural or legal persons to establish a company in Turkey. With the recently published laws, changes have been made to support foreign investors.

Establishment of a Foreign Real Person Partnership
Real persons can establish a capital company on their own, or they can establish a company by partnering with Turkish real or legal persons. The following documents are required for foreign nationals in establishment procedures.

Notarized passport translation
Tax identification number
If there is a residence permit, notarized copy of the residence permit
Other than that, the required documents are the same as those required for Turkish partners.

Company Establishment with Foreign Legal Entity Partnership
Foreign legal persons can establish a company, open a branch, a representative office, and become a partner with another real person or legal person in Turkey alone. The following documents are required for foreign legal entities in establishment procedures:

Trade registry certificate of the central company
General assembly resolution to be prepared by the central company for the establishment
Tax identification number
Power of attorney
Documents must have an apostille approved and notarized Turkish translation. Other than that, the required documents are the same as those required for Turkish partners.

Foreign Capital and Work Permit
When Turkish citizens living abroad want to establish a company in Turkey, a notarized Turkish translation of the document of residence or work permit they have in the country they live in is required.

The biggest problem that can be experienced in the establishment of companies with foreign partners may be the issue of opening a bank account. Banks may cause problems when opening accounts to foreign nationals who do not reside in Turkey or have not worked with their banks individually before. In this regard, it can create a waste of time in the organization.

Another big problem for companies with foreign partners is the issue of work permit. No work permit is required during the establishment of the company. Applications can be made after establishment. There are some conditions in this regard.

The company's paid-in capital must be at least 100,000 TL, its gross sales must be at least 800,000 TL, or its export amount in the last year must be at least 250,000 USD.
It is obligatory to employ at least 5 (five) citizens of the Republic of Turkey for each foreign partner in the company for which a work permit is requested. If it is a foreign company partner requesting a permit, the employment requirement of five persons is required for the last six months of the one-year work permit. If a work permit is to be obtained for more than one foreigner in the same company, the employment of 5 (five) Republic of Turkey Citizens is sought for each foreigner after the first foreigner who is granted a work permit.
A work permit cannot be obtained without fulfilling these conditions.

blog resim

Copyright @2022 PMDTR Designed By EYTSOFT