Akkas CPA is a globally recognized Turkish Accounting Firm with a long record of excellence and professionalism for your Turkish free zone company formation. Our accountants provide all kinds of accounting services in Turkey required to run your company in Turkey.
Table of Contents
- Turkish Free Zone Company Formation
- Steps for a Turkish Free Zone Company Formation
- How many Free Trade Zones are in Turkey?
Akkas CPA offers the best accounting services, at competitive prices to foreign businessmen who already established or getting ready to establish a company in Turkey.
After the Turkish free zone company formation, you will need to hire an accountant & CPA to manage the financial issues and offer solutions to lower the costs for your business. A good accountant will help you save money and make your company more efficient in terms of costs. If your company is managed well from all points of view, the profit will increase in a short time.
Turkish Free Zone Company Formation
We Can Finish the Turkish Free Zone Company Formation within 20-30 Days
We can complete Turkish free zone company formation within 3 weeks, we have established more than 260 companies for our foreign clients from Spain, UAE, Ukraine, Russia, UK, Morocco, Lebanon, Syria, S. Korea, Germany, Italy, Jordan, Vietnam, Poland, France, Pakistan, China, Hong Kong, USA, Malaysia, Iran, Portugal, Norway, Canada, Saudi Arabia, Iraq, and Kuwait.
If the Partners are not in Turkey, We Can Complete the Turkish Free Zone Company Formation Remotely
We can complete the Turkish free zone company formation remotely if you are not present in Turkey, however, the setup process will be longer and cost more.
Moreover, we have established more than 260 companies for our foreign clients including Spain, UAE, Ukraine, Russia, UK, Morocco, Lebanon, Syria, S. Korea, Germany, Italy, Jordan, Vietnam, Poland, France, Pakistan, China, Hong Kong, USA, Malaysia, Iran, Portugal, Norway, Canada, Saudi Arabia, Iraq, and Kuwait.
Steps for a Turkish Free Zone Company Formation
According to the Turkish Commercial Code, a joint stock company requires a minimum of one partner and it can be a legal entity or a real person. The partner/partners can be Turkish or foreign as well. Foreigners can own 100% of a company and transfer their profit out of Turkey without any problems.
The minimum required capital for a Joint Stock Company is 250,000. -TL (Turkish lira). 25% of the capital of the company shall be paid in advance and the remaining shall be in two years and up to three installments.
Roadmap for Turkish Free Zone Company Formation
- Partners’ passport translation and notarization
- Obtaining tax ID numbers for the partners
- Getting Power of Attorney from the partners for company formation before the Notary Public
- Determining and reserving the company title
- Signing a lease contract for the company address
- Preparing online company establishment procedures
- Filing company details at the Istanbul Chamber of Commerce online
- Filing company Articles of Incorporation online and getting it approved
- Filing all the documents at the Istanbul Chamber of Commerce and paying official company registration fees
- Obtaining a company registration certificate from the Istanbul Chamber of Commerce
- Getting signature circular notarized at Notary Public
- Giving Power of Attorney to an accountant on behalf of the company
- Opening company bank account
There is a 5.000 USD application fee for free zone companies and it will be refunded if the application is refused by the Ministry of Trade. However, if the application is accepted and a free zone operating license is issued, the application fee will be kept by the Ministry. After that, we continue establishing the company and it can be a limited company, a joint stock company, or a branch of the mother company.
Documents Needed for Turkish Free Zone Company Formation;
From Real Persons;
- 2 Translated and notarized passport copies
- 2 Passport photos
- Power of Attorney to us for incorporating the company from each shareholder.
From a Legal Entity, If One of the Partners is a Company;
- The foreign shareholder company’s “Certificate of Good Standing” from the Registrar of Companies. This certificate should contain information about the current active status of the company and its signature executives.
- The foreign shareholder company’s “Articles of Incorporation”
- The foreign shareholder company must get a resolution for incorporating a company in Turkey.
- If the foreign shareholder company will be appointed as a company director in Turkey, it must appoint a real person to do this task. We need signature samples from this person and he must also accept this appointment. We must get his/her passport translated and notarized and we will get a Turkish tax id number.
- Power of Attorney for establishing the company.
- The above-mentioned documents shall be notarized and apostilled.
How many Free Trade Zones are in Turkey?
A Turkish Free Trade Zone is a specially designed production site that aims at increasing export-oriented investment and production in Turkey, accelerating the entry of foreign capital and technology into Turkey. Enhancing productivity and economies of scale and increasing the utilization of external financial sources and trade opportunities.
Although a Free Trade Zone is within the boundaries of the Republic of Turkey, it is treated as if it were a territory abroad. National regulations relating to foreign trade, and financial and economic areas are partially applicable to Free Trade Zones. There are 18 Free Trade Zones in Turkey and their annual trade volume amounted to more than $ 23 billion in the year 2022.
Reach us for Free Zone Company Formation in Turkey
Akkas CPA & Turkish Accounting Firm is one of the globally recognized Turkish Accounting Firms with a long record of excellence and professional leadership in Istanbul, Turkey.
Thanks to its nationally recognized accounting services, our accounting firm is now one of the leading accounting firms in Istanbul, Turkey. You may reach our accountants for Turkish free zone company formation by sending an email to us.