General Information About Invest in Turkey

General Information About Invest in Turkey

  1. Turkey any legal barriers during the establishment for foreign citizens or companies? (Such as a local partner/manager required)
  • There are no legal barriers for foreign citizens or companies.
  1. What are the rates for corporate tax / income tax inTurkey?
  • Corporate Tax: % 20
  • Income Tax: Up to 12.600 TL %15, 12.601 TL – 30.000 TL %20, 30.001 TL – 110.000 TL %27, 110.001 TL and over %35
  1. What is the rate for VAT?
  • VAT Rates: 1%, 8%, and 18%
  1. Is it possible to setup a company with a virtual office service? Do you have a partner for this service? Please note example rates.
  • It is possible and also a common choice in Turkey. We have a partner. And the average price for a virtual office service is 150,00 USD / monthly.
  1. What is the minimum wage in Turkey?
    – Minimum wage in Turkey is 1.300,00 TL. ( Net )
  2. Are there any restrictions on bank transfer in Turkey?
  • We dont have any restrictions in Turkey.
  1. Are there any government incentives for foreign investor in Turkey?
  • Turkey has incentives for foreign investors both in establishment of a company and afterwards.
  1. After the setup process do you offer a service (bookkeeping and other tax related obligations) ? Or do you have a partner for that? What is the average rate?
  • Our company has accountants in our team also. We offer this service for average 250 USD / Monthly  + %18 VAT
  • Do partners and managers need a work permit? What are the terms of getting a work permit for them?
  • In Turkey partners or managers need a work permit. In order to get one company should have 100.000 TL pain-in capital and for every work permit company should have 5 Turkish employees for every foreigner (in 6 months).
  1. Do you need the presence of partners/managers to open a bank account and establish the company?
  • In order to open a bank account partners or manager have to come Turkey.
  1. We usually work with foreign trade or construction companies. Do you have any regulations regarding these business?
  • For foreign trade business comapanies need registration from Exporters Association. Average registration fee is 250 TL. There is no special condition on construction companies.
  1. If there’s something you want to add about foreigners establishing a company in your country, please specify.
  • We recommend Limited Company for companies with foreign partners.