On legal matters such as the articles of association, the shareholding structure and share transfers, we work together with our specialist partner lawyers. This way the formation documents are prepared in line with the legislation and the risk of future disputes between shareholders is reduced from the outset.
Which type of company suits you?
The company type that suits you depends on expected turnover, the number of shareholders, the limit of liability, the need for access to finance and your profit distribution plans. In the meeting we assess these points with your own figures.
- Sole proprietorship: quick and inexpensive to set up; profits are subject to personal income tax, and the owner is personally liable for the business's debts.
- Limited company (Ltd. Şti.): can be formed with a single shareholder; profits are subject to corporate income tax. As a rule, shareholders' liability is limited to the capital they have committed, but shareholders may become liable for unpaid public debts.
- Joint stock company (A.Ş.): can be formed with a single shareholder; share transfers are more flexible, and it is better suited to growth plans such as taking on investors or going public.
What we do in the formation
- Determining the company type, trade name, field of activity and capital structure
- Preparing the articles of association with our partner lawyers
- Filing the trade registry application and following up the registration
- Tax registration at the tax office and commencement of business formalities
- Chamber registration, e-notification (e-tebligat) and the necessary e-document applications
- Opening the statutory books and setting up the accounting routine for the first month
Documents we need from you
In general, the identity details of the shareholders and directors, the lease agreement or title deed details of the business premises, the capital and share distribution and the field of activity are sufficient. Additional documents are required if there are legal entities or foreign nationals among the shareholders; in that case the steps on our company formation for foreign investors page apply.
Since minimum capital amounts and formation costs change from time to time under the legislation, we share the current figures in the meeting based on the amounts set for the relevant year.
After the formation
After registration, your company should be ready to issue invoices and employ staff. As the team that handled the formation, we can move seamlessly to the monthly accounting and bookkeeping service and keep your records in order from the first filing period.
Who is it for?
- Entrepreneurs setting up their first business
- Owners who want to convert a sole proprietorship into a company
- Partners who will start a business together and want to put their partnership in writing
- Existing businesses that will open a branch or a new company in Bursa
How does the process work?
- Step 1
Choosing the type
We determine the most suitable company type based on your expected turnover, shareholding structure and plans.
- Step 2
Preparing the documents
The articles of association and formation documents are prepared with our lawyers and submitted for your approval.
- Step 3
Registration
The trade registry application is filed and the signature and registration formalities are completed.
- Step 4
Tax and chamber registrations
Tax registration, chamber registration and e-document applications are made.
- Step 5
Start of accounting
The books are opened and the recording and filing routine for the first month is set up.
Frequently asked questions
How long does company formation take?
When the documents are complete, registration with the trade registry is usually completed within a few working days. Together with tax registration, chamber registration and e-document applications, it can generally take a few weeks for the company to actually start operating. If there are foreign individuals or companies among the shareholders, certifying and translating the documents extends the timeline.
Should I set up a limited company or a joint stock company?
If you will operate alone or with a small number of partners, a limited company is often sufficient. If you plan to take on investors, transfer shares frequently or build a large-scale structure, a joint stock company may be more suitable. Before deciding, we recommend comparing the differences in capital, liability and cost between the two types for your situation.
Which documents are required to set up a company?
The basic documents are the identity details of the shareholders and directors, the lease agreement or title deed details of the business address, the capital and share distribution and the field of activity. Authorisation documents are required for corporate shareholders, and certified and translated documents for foreign shareholders. We prepare a complete list for you and do the preparation together.
Can I convert my sole proprietorship into a limited company?
Yes. A sole proprietorship can be converted into a company by transferring the business with all its assets and liabilities, and under certain conditions this can provide tax advantages. Since the timing and method of the transfer affect the outcome, it should be planned in advance.