>>Procedures

Preparation and approval of the company’s main contract

For Limited Companies:
 
For Joint Stock Companies:
 
>>Time Period 
1 /2 day(s)   1 /2 day (s)

>>Cost
Articles of Association: 900 YTL

Signature Verification: 22 YTL
(per person, 2 documents)

Copy of Identity Card: 11 YTL (Per person)
Articles of Association: 200 YTL

Signature Verification : 22 YTL
(per person, 2 documents)

Copy of Identity Card:
11 YTL (Per Person)
 
>>Other Organizations involved
Notary Public

>>Required Documents
Originals of the Identity Documents
Draft of the Articles of Association
 
Clarifications
The first step required to set up a company is the preparation of the articles of association stating the obligations of partners against each other. This articles of association must not contradict in any way the provisions of the Turkish Commercial Code. The articles of association must be athenticated by the Notary Public.

The company’s articles of association contract must contain the items mentioned in Article 279 of the Turkish Commercial Code. It must be in written form, and it must be authenticated by the Notary Public after it has been signed by the founding partners.

Real Persons: Before approaching a notary, an application must be made to the Registrar of Companies. At least two copies of each individual’s Identity Card and the Commercial Title Certificate must be obtained from the Notary Public.

Legal Persons: At least three copies of the articles of association, copies of the identity cards of the partners, and the verified signature of authorized persons must be obtained from the Notary Public .

Authorization from the Ministry of Industry and Commerce is required in the event of the drawing up of or the making of any changes to the articles of association of banks, private finance institutions, insurance companies, leasing companies, factoring companies, holdings, exchange offices, companies involved in operating general stores, companies that are subject to the Capital Markets Code and that are open to the public, and companies that establish and operate free zones.

The authorization of the Ministry (General Directorate of Domestic Trade) must be sought in  setting up of the above-mentioned companies before formal registration. However, where changes are to be made to the articles of association, the authorization must be sought before the general meeting in which the decision concerning the changes will be made.

 Source:www.investinturkey.gov.tr