Establishing a Company in Turkey with Foreign Partners

Establishing a Company in Turkey with Foreign Partners

Establishing a company in Turkey with foreign partners is completed as a result of the transactions made through the Central Registry Registration System (MERSIS), which are specially introduced for company types. Turkish citizens can log in with their identity number information. Unlike, foreigners can log in to the system with their passport numbers. Foreigners must first obtain a tax number from the tax offices in order to carry out the company transactions to be established on the system. In addition, they should apply to the trade registry offices and register themselves in the MERSIS system. After all stages are completed, the necessary transactions are carried out through the system. They can complete these transactions in person or through a representative authorised by a power of attorney. 

 

In case the Foreign Shareholder is a Real Person 

• Translated notarised passport copies of foreign real person partners, 
• A document from the tax office showing the tax number or foreigner-specific identification number 
• Notarised residence permit if residing in Turkey.
• For Turkish citizens residing abroad; a document obtained from the relevant authorities of that country stating that they work or reside abroad,

 

In case the Foreign Shareholder is a Legal Person 

If the shareholder is a foreign legal person, the document containing the current registry records of the legal person (This document must be certified by the notaries in the country where the company is subject to and in the Turkish Consulate in that country or in accordance with the provisions of the Convention on the Abolition of the Obligation to Certify Foreign Official Documents and submitted to the Directorate with a notarised Turkish translation).

 

Types of Companies Subject to Authorisation to Establish a Company with Foreign Partners

Law No. 4875 on Foreign Direct Investment states that foreign persons may establish any type of company in the Turkish Commercial Code. However, if a company with foreign partners is to be established, in addition to all the necessary processes, some types of companies require authorisation from the Ministry of Trade. In this context, the types of companies that are subject to permission to establish a company with foreign partners are as follows

• Banks, 
• Financial leasing companies, 
• Factoring companies,
• Consumer finance and card services companies, asset management companies, insurance companies, 
• Holdings established as joint stock companies, 
• Companies operating foreign exchange kiosks, 
• Companies engaged in public retailing, 
• Licenced warehousing companies for agricultural products, 
• Commodity specialisation exchange companies,
• Independent audit companies, 
• Surveillance companies, 
• Technology development zone management companies,
• Companies subject to the Capital Markets Law dated 6/12/2012 and numbered 6362,
• Establishment of free zone founder and operator companies,