Business in Turkey: Welcome to Sunny Antalya!

Explore the opportunities of setting up a business in Turkey, particularly in Antalya, a thriving hub for tourism, agriculture, and production. Learn about the advantages, business structures, and the company registration process.

Turkey is a well-developed business hub that attracts entrepreneurs from all over the world thanks to its excellent conditions, robust economy, and advantageous geographical location. Set up a company here within a reasonable timeframe to take advantage of international logistics routes and the Turkish market – or move here along with your family in return for investments. Sounds promising? Join in the bustling community of business people from different parts of the globe!

If you need more information on Turkey, please visit our portal to read a more detailed article on Antalya business opportunities and discover other features of the country, such as tax planning, investment in real estate, banking, and so on. Do not hesitate to schedule a free meeting with our consultant to ask any questions about Turkey, make sure you have chosen the right destination for your needs, and maybe look at other options. We will help you set up a company and open a bank account in Turkey without much hassle for a reasonable fee to give you an opportunity to focus on your business rather than the Turkish red tape. Please click on the link to contact us!

Why Register a Company in Turkey?

Turkey is one of the world’s largest markets and strongest economies that remains stable even in the face of crises. It fights hard for its economic interests, which is good news for all entrepreneurs as business works best under stable conditions.

There are a lot of free economic zones in Turkey where you can set up a company from scratch, re-domicile your business, or start a branch of a foreign company to take advantage of low tax rates. Let’s take a more detailed look at the opportunities offered by Antalya for investors:

  1. This is one of the centers of the tourist industry, which means that you can safely choose this niche.
  2. The number of real estate purchases was the second largest in Turkey in 2022.
  3. Antalya is a center of the yacht construction industry.
  4. One of the most viable plans is to establish a production company in Antalya and sell the products to Europe. Thanks to beneficial climatic conditions, there are a lot of greenhouse farms here that produce high-quality fruit and vegetables and export them to Europe and other destinations. In fact, Antalya is the top manufacturer of agricultural products!
  5. There is a free economic zone in Antalya where you can take advantage of tax and customs benefits.

If you need more details on any aspect, do not hesitate to click on the link and book a session. We can help you draft a business plan for your company if you need to.

Best Businesses for Antalya

When we mention Antalya, it is surely associated with two major business spheres: agriculture and tourism. However, that is not all, and the following business activities may be of interest to you:

  1. Organization of production activities
  2. Company that provides consultancy services
  3. Retail sale of light industry products, industrial products, building materials, food, and alcoholic drinks
  4. Real estate agency
  5. Company that provides recruitment services for the tourism industry
  6. Wholesale trade
  7. Hotel accommodation services
  8. Travel agency
  9. Opening a public catering facility (café, restaurant, etc.)
  10. Company that provides entertainment for tourists (diving, excursions, rental service, sea rides, etc.)

Turkish residents and non-residents have the same rights when it comes to company registration. Non-residents can establish a subsidiary, a foreign representative office of their business abroad, an international business company, or a local company. 

There are two most popular company structures in Turkey: Limited Liability Company (LS) and Joint-Stock Company (AS). If you struggle with the choice, please get in touch with us to get expert advice.

Joint-Stock Company: Requirements

If you are engaged (or are going to engage) in a large business, this legal form is preferable. Under Turkish laws, a JSC in Antalya may be registered with one foreign founder and a nominee director, and its authorized capital should amount to at least 50,000 Turkish Liras for OJSC and 100,000 Turkish Liras for CJSC.

Let’s look at some important details:

  1. If the JSC in Antalya will be personally run by the owner, the authorized capital should not be less than 100,000 Turkish Liras and is subject to payment right after the company incorporation procedure is over. The founder will need a work permit to manage the company or will be required to hire an employee to fill the director’s position.
  2. The minimum paid-up capital is one quarter of the total amount, with the remaining three quarters payable over the next two years.
  3. The authorized capital may be contributed in the form of intangible assets or immovable property rather than funds. Such non-financial assets are required to be registered in the Commercial Register within 3 months after the company has been registered (and no later!).
  4. Your company must have a local legal address in the form of a physical or a virtual office in Turkey.
  5. If you form an Open Joint-Stock Company, you are allowed to issue all kinds of shares except for bearer shares.

JSC Director

When you register your company in the Commercial Register, you should specify the name of its director in the Articles of Association. If the company’s founder is a non-resident, there are two available options:

  1. A foreign director who has a Turkish work permit.
  2. A local director.

We can help you by appointing a professional manager to this position if you provide a power of attorney to us.

Company Registration Procedure

Let’s look at the steps that have to be taken by a non-resident investor who wishes to set up a company in Antalya:

  1. First of all, get in touch with us to discuss the prospects.
  2. If you finally decide that Antalya is a great place for your business, we will agree on the list of services you may need.
  3. Collect/draft all the required documents.
  4. Pay 50% of the required amount for our services.
  5. Wait for the results and put the final signature in person.
  6. Pay the remaining 50% of our fee and start your business activities in Turkey.

Do not hesitate to follow the above link – we are just a click away!

 

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