A sole proprietorship is a popular and well-known type of business license in Turkey, enjoying widespread popularity and preference among small business owners and traders across the country. These sole proprietorships constitute the primary and most prevalent option on the list of business licenses, especially for individuals who engage in small commercial and professional activities. In this article, we will explain the establishment of private companies in Turkey according to the following table of contents:

Overview of companies in Türkiye:

What are the types of companies in Türkiye?

Personal or private company, required documents, details and costs (the cost is approximate and may increase or decrease)

- Notes regarding the personal company:

- Can a personal company be closed?

Why should I choose Tayf Türkiye Services to establish my company and start my business in Türkiye?

Articles related to taxes and companies in Türkiye

Overview of companies in Türkiye:

Licensing and establishing various types of companies in Turkey, obtaining all the necessary licenses to legally start your business in Turkey, registering products, obtaining the global coding code for your products, and everything related to legal matters related to companies and the commercial registry. This article is a reference in itself for you to draw from all the information you need before starting your commercial or industrial business. There may be some differences depending on the city or municipality where the business is located, but the overall principle is the same and indivisible.

What are the types of companies in Türkiye?

There are many types of companies in Türkiye, including the most common and widely used in Türkiye.

1- The private company, or what is called a personal company, is the simplest, easiest, least expensive and least complicated. It is recommended for people who own simple businesses that do not require a large number of employees or workers.

2- The limited liability company, or limited company, is the second class of companies that includes more employees than the sole proprietorship, and includes multiple businesses, such as import, export, manufacturing, etc., and includes multiple partners.

3- The joint-stock company, also known as an anonomy, is a type of multinational corporation and can include an unlimited number of companies. It includes an unlimited number of shareholders, not partners. It is the most complex and costly in terms of establishment and procedures.

There are other special types that need not be mentioned due to their low demand and prevalence. They can actually be included under one of the previously mentioned types: private company, limited liability company, or joint stock company.

Personal or private company, required documents, details and costs (the cost is approximate and may increase or decrease)

The documents required for establishment and starting an official license in Turkey with Tayf Turkey. The required documents are very simple, which are a lease contract for the place, whether it is an office, shop, commercial store, warehouse, or residence if the company is based on the home office principle.

Note:

The license, in brief, is based on three basics or three sections, which are:

-The tax department or what is called the tax board

- The commercial department, which is the commercial register or the chamber of commerce or profession to which the activity is affiliated.

- The municipal department or municipal license, which is the final stage -

The above mentioned stages are carried out in the following order:

First, the commercial register or the professional chamber to which the activity belongs, followed by the tax department or the procedures of the tax chamber to obtain the tax plate, and then the work residency or work permit is obtained (to know the papers required to obtain a residency or work permit, you can see the article on our website) to complete the municipal license.

After completing the above procedures, you can start your business without any problems. Anything less than the above will consider your license inoperative and expose you to financial penalties, which are extremely high compared to the cost of the entire license. In other words, a single violation is more expensive than the actual cost of the license.

Costs range from $300 to $900 depending on location, rental value, area, type of activity, and company details. Completion time ranges from three days to a month and a half, depending on the municipality in which the company is located. Monthly costs are divided into financial consultant fees, which range from $40 to over $150, depending on the company's activity and the amount of work required. Rental tax is calculated at approximately 30% of the monthly rental value and is paid once every three months.

Basic taxes range from $10-30 per month. Value-added tax (VAT) is based on the quantity and type of invoices issued monthly and has no fixed amount. It is the largest monthly amount paid. Social security starts at $100 per month and increases and is related to the employee's pension. For business owners, it is roughly fixed at $100 per month.

- Notes regarding the personal company:

1- If the item is mentioned as retail, one-off, or sectoral sale, a special device for the account called (Yazar Kasa) will be required. This is the same device for the account via bank cards, and it is not required if the sale is wholesale.

2- There is capital for the personal company and a commercial bank account can be opened in the company’s name.

3- Information related to any type of company: A capital turnover must be made in the company’s account at least once within the first two years of establishment.

4- It is not required to deposit the capital directly into the company’s account unless otherwise requested. This may be requested when applying for a residence permit or work permit. In that case, it is sufficient to deposit a quarter of the capital registered in the official documents.

5- It is required to purchase a fire extinguisher of a size appropriate to the area of the licensed property (fire extinguisher). This may not be required if there is a fire extinguishing mechanism in the property for which the license is to be obtained.

- Can a personal company be closed?

Yes, it is possible, and the procedures are simple. The debts are paid and the company headquarters is inspected to confirm that it has been closed.

Why should I choose Tayf Türkiye Services to establish my company and start my business in Türkiye?

-Turkey's spectrum of services is the oldest and most experienced in the field of services and consulting. We summarize years of experience.

All sufficient and comprehensive information before incorporation, including taxes, operating procedures, and the allocation of a financial advisor, whether Turkish, Arabic, or English-speaking, for ease of communication.

- Follow up with the client after licensing and completing all procedures related to work permits, work residency permits, or registration in the social security program for Turkish employees.

- Helping clients get started and understand the target Turkish or foreign market through our knowledge and experience, and providing all necessary recommendations for getting started.

- Assistance in finding workers or employees to work for him, whether foreign or Turkish.

- Supporting the client to complete the procedures and requirements required by some municipalities to grant the necessary licenses to start industrial or commercial activities.

Providing all logistical support in terms of online presence through special recommendations regarding the website and some well-known online sales sites.

- Support in terms of preparing the necessary headquarters to start work, whether the necessary modifications and decorations, printed materials, or even securing the necessary supplies for the work.

By choosing Latif, you are choosing a package of distinguished services, not just a service.

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