What is the cost of joint stock company formation in Turkey ? What expenses are paid when JSC company formation , What expenses do I pay monthly after the joint stock company formation in Turkey ? What are the tax liabilities in Turkey , joint stock company set up fees in Turkey ? incorporated INC company establishment charges in Turkey ? what is the total cost for incorporated company formation in Turkey ? Which kind of fees paying for incorporated company formation in Turkey ?
When setting-up a joint stock company, the sample cost work we have prepared for an idea about establishment expenses is for informational purposes. When you seting up the joint stock company, there are expense items that you may encounter. ( Notary Expenses, Tax Office Expenses, Competition Board Expenses, Chamber of Commerce Registration Costs , and Establishment Service and Consulting fees).
For the year 2021, the sample study we prepared based on the least data for the province of Istanbul is as below. Expenses may vary slightly according to criteria such as the size of your business, the city you are in, the employment of insured personnel, and the use of a cash register.
Note ; 1 - The costs increases 310 TRY for each additional partner and 515 TRY for each additional manager. The prices include VAT.
Note ; 2 - In establishing process of business, it’s required to tie up 25% of your capital to bank. After establishing business, the tie up will be cancelled and money will transfer your corporate account.
Note ; 3 - We will send to you the documents of all payments in the process of business establishment , also the invoice will be providing for our consultancy fee.
Note ; 4 - This text is written for information purposes. Expenses may vary depending on the size and sector of the company
Monthly costs incurred after the establishment of a joint stock comany as below. We do not specify amounts for these items. Because these costs will vary according to the volume of work
VAT per month
Social Security fee every month (If you have employees )
Monthly Payroll fee (If you have employees )
Withholding tax per three months
Temporary Tax (Income tax) per three months
Acquisition of accounting books annually
Approve the closing of a legal book annually
Monthly Accounting CPA Service Fee
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Company’s net profit for the year will be subject to corporate tax and corporate tax rate is a flat rate of 22% in Turkey.
Dividends distributed to individuals and non-resident corporations which have interest in Turkish companies are subject to withholding tax at % 15. Non-resident shareholders can benefit from reduced withholding tax on dividends if they qualify to benefit from double taxation treaty provisions that prevail for a lower withholding tax than 15%. Dividend distributions to Turkish resident companies are not subject to withholding tax.
Tax losses can be carried forward for five years as long as they have been shown in corporate tax return separately for each year, but they are not carried back except in the case of liquidation.
Turkey has generated a global network for double taxation relief with 77 countries via signing mutual agreements. Result of that company can easily avoid any double taxation when conducting international trade.
Number of company partners: 1 (Person)
Number of Representative (manager ) : 1
Capital Stock: 50.000 TRY - (minimum)
Sector: Textile Trade - wholesale
Workplace Rent Amount - 1.200 TRY
Preparing and notarizing articles of incorporation ; 251 TRY
Turkish Translation of Founder Passport - Notarized ; 350 TRY
Signature circular of Manager ; 232 TRY (After Company Establishment)
POA - Power of attorney for Accounting ; 244 TRY (After Company Establishment)
Registration,advert, Competition Authority, Articles of Association ,Accounting Books; 1.375 TL
Stump tax of Rental Agreement ; 35 TRY