Between Europe and the Middle East, Turkey is a land bridge. For its rich cultural legacy, this nation is well-known. There are few prerequisites for company formation in Turkey; nonetheless, it is vital to follow local legislation.
The minimal number of directors and shareholders required to form a corporation in Turkey is one. In Turkey, the minimum capital needed to start a business is 10,000 Turkish Liras. A firm doesn’t need to be physically present in Turkey to be incorporated.
An investor looking to register a business in the Turkish free trade zone may do so. Incorporating in this free zone has several advantages. For a firm formed in a free trade zone, the government would provide several privileges and tax incentives. Aside from that, the Turkish Free Trade Zone allows investors to withdraw their money and return it to their native nation.
The Advantages of a Turkish Company Registration
Company registration in Turkey provides the following advantages:
Economy
Turkey is seen as a fast-growing economy that is open to new ideas from across the globe. This nation is among the 30 best in the world in keeping investors safe from unscrupulous businesspeople.
Free Trade Zone of Turkey
An investor looking to register a business in the Turkish free trade zone may do so. Incorporating in this free zone has several advantages.
Union of Customs
Even though Turkey is not a member of the European Union, it is included in the customs union. As a result of this union, Turkish exports are immune from several trade restrictions and duties.
Direct Investment From Abroad
Turkey gets the most foreign investment in Western Asia from nations like the United Kingdom, the United States, and India. This illustrates that Turkey’s government has opened up several areas for international business.
Affordability and Convenience
In Turkey, forming a corporation is a simple process. With just one shareholder and director, a Turkish corporation may be included. To establish a Turkish corporation, you’ll need at least EUR 3300 in the capital. The incorporation of a business in Turkey does not require the investor’s physical presence. For all of these reasons, doing business in Turkey is a breeze.
In between Europe and Asia, Turkey is a land bridge connecting the two continents. Because of its advantageous position, transporting goods is simple. Tariff exemptions with the European Union are granted to Turkey even though the country does not belong to the EU. Tariffs and customs duties on goods and products are reduced since Turkey has an EU-Turkey customs union.
