Other Services

Companies, shareholders and directors may freely open any type of bank accounts in Türkiye and they can transfer their profits and salaries abroad freely. Necessary documents for the opening of a company bank account are:

• Articles of association of the Company.
• Turkish tax ID number for each shareholder 
• Signature circular
• Company stamp.
• Powers of attorney by Shareholders and Directors

We are happy to assist you in bank account opening process and offer this service for net XXX Euros (excluding VAT and expenses). Within this proposal, through proxy, we obtain the Turkish tax ID number for the shareholders, contact to various banks, collect, and provide documents they request, answer questions they ask, and visit the banks if necessary. 

Companies whose legal or business headquarters are located in Türkiye or whose operations are centered and managed in Türkiye are subject to corporate tax on their worldwide income. 

• The corporate income tax is 20% for 2023. 
• The profit distribution tax rate is 10%. 
• The taxation of capital gains: 75% of the profit is exempted from corporate income tax if the shares are held more than two years.

We can assist you with obtaining a tax ID number for your company through proxy. 

Foreign companies can set up liaison offices in Türkiye provided that those offices do not conduct any commercial activities in Türkiye. 

Permitted Activities 

• Market research
• Promotion of the products and services of the parent company
• Representation and hosting 
• Control, inspection, and provision of suppliers in Türkiye in terms of quality and standards
• Technical support 
• Communication and transfer of information 
• Acting as regional management headquarters 

So as to establish a liaison office in Türkiye, the parent company should apply to the General Directorate of Incentive Implementation of the Ministry of Industry and Technology.

Applications for establishment and extension are to be finalized within 15 days following the application provided that the necessary documents are complete and proper. 

Post-establishment formalities

• registration with the tax office and the social security institution
• submission of the lease agreement to the Ministry
• preparation of annual reports.

Foreign companies may incorporate branch offices in Türkiye. Characteristics of a branch office are:

• The branch's trade name must include the parent company's name and the parent company’s home country.
• The branch is restricted to complete the same activities of the parent company
• The branch must have a separate capital
• The branch will be taxed on the incomes generated in Türkiye alone
• A fully authorized commercial representative is assigned for these branches whose residential is in Türkiye.

The branch must be registered with the Trade Registry Office. The process is as follows:

• Obtaining a potential tax identity number for the branch
• Opening a bank account in order to deposit the capital of the branch
• Obtaining the bank's letter including the name of the branch and the parent company and the amount deposited as the capital of the branch
• Preparing other necessary documents
• Application to the Trade Registry Office