Process of Joint Stock / Incorporated Company Formation

1-  Service Provider / Certified Public Accountant - CPA


        If you want to establish a joint stock company in Turkey, the first thing to determine is where you will receive support services for company formation and accounting operations. A team experienced in company establishment and accounting processes will ensure that your transactions are fast and lawful. It will also protect your business against financial risks.
  

2 - Information and Documents Required Of Joint Stock Company Formation

 

  1. Photocopy of passport of founding partners

  2. Notarized passport translation in Turkish

  3. The potential tax number to be received from the tax office

  4. Notarized translation of the Procurement Office of the Company

  5. 3 passport photo of the founders

  6. Company title

  7. Company capital (minimum TL 50.000 TRY )

  8. Company's Sector and Concept

  9. Home addresses of founding partners (may be outside of Turkey)

  10. Company address & Tenancy Agreement

 

3-   Preparation of the Company's Articles of Association

       

    Information of the joint-stock company to be established will be entered into the MERSIS system and the company's articles of association will be prepared. This process is made by Accountants / Financial Advisors.

  

   The company's articles of association include:

  • Full title and center address of the company

  • Founding Partners of the Company

  • Sectors in which the company will operate

  • Capital amount, shares, type and conditions of capital payment

  • Share certificates shall be registered to the holder or bearer; privileges given to certain shares; cycle limitations.

  • Same assets other than cash capital, if any, shall be included as capital (business, vehicle, warehouse etc.)

  • Benefits to be provided to the founders, members of the board of directors and other persons from the company profit.

  • The members of the Board of Directors are authorized to sign on behalf of the company.

  • Conditions of call of the General Assembly, voting rights of the shareholders

  • If the company is limited to a specific time, this period.

  • How to make company ads.

  • The types and amounts of the capital shares undertaken by the partners.

  • Appointment of the first board members of the company

 

4 -  Notary Approval of the Joint Stock Company

 

         After the main contract of the company is prepared, it is transferred to MERSIS system and after entering the item item information in related parts of the system, registration number is taken in the approval phase. The registration number is sent to the notary public with the registration number of Mersis and 5 main contracting is signed and approved by the partners. In addition, a registration request (signature statement) is issued in a notary public to be submitted to the Trade Registry Office. A notarized copy of identity must be issued in order to communicate to the tax office during the notification of employment.

 

  • Signature of the company representatives - managers under the company's title - 2 copies

  • Founders signed the founders statement

  • If there is an externally appointed principal, the notarized document that the signatures are accepted.

  • In this document, the place of residence, nationality, T.C. The citizen identification number, foreign nationals and tax number or peculiar to foreign identification number must be specified, while foreign nationals annex a notarized copy of passport and residence approved residence permit for foreign nationals in Turkey should be added.

 

5 - Company Tax ID Number and Bank Process

      

    The potential tax identification number of the joint stock company is formed in the Mersis system. This number is the tax number to be used after the establishment of the company.
       

       A company account is opened from a bank and the capital (at least 25%) is deposited into the account and blocked, along with the potential tax number and the documents received from the notary public. A document on capital blockage is obtained from the Bank. The blocked capital amount can be withdrawn after the company establishment is completed and can by the company official.

 

6 -  Completion of Establishment Documents and Registration of Trade Registry

   

The documents to be given to the Chamber of Commerce for registration of the company;

  • Notarized company main contract - 4 copies for foreign companies

  • Signature of the Company Manager 2 copies

  • Chamber of Commerce registration statement - with photo

  • Company Registration Application Form 3 pieces

  • Founder shareholders information sheet

  • Capital Block Document by the bank

  • Competition Board share payment (will paid to the Chamber of Commerce)

     
      This documents will prepare and send to Chamber of Commerce by accountant - CPA. In this process, the related costs must be deposited during the application. After the registration of the company, registration letter, accounting books, registration certificate and activity certificate should be obtained.
 

7 -  Preparation of Joint Stock Company Signature Circular

     

     After the Chamber of Commerce approves your application, the company becomes a legal entity, officially established. With the company documents obtained from the Chamber of Commerce, authorized to represent the company, the company can issue the signature circular under the title.
 
       For the tax office and insurance procedures, the accountant who will follow the procedures should be given the required power of attorney when obtaining the signature circular.

 

8-  Tax Department Business Starting Notice And Registration. 

      

     After registration of the company in the chamber of commerce, the following documents must be forwarded to the relevant tax office.

  • Notarized company main contract

  • Signature circular of the notarized company manager

  • Lease agreement (or photocopy of title deed)

  • Company certificate and trade registry certificate

  • Accommodation of the founding partners

  • Identity Originals or Approved Surrogates of Partners

  • Business opening notice

  • Tax office password request form

  • Electronic notification form

       After these documents are forwarded to the tax office, a civil servant from the tax office, within 3 to 5 days, goes to control the company and arranges an inspection report and receives the signature of the company official.

 

9 -  MUNICIPAL REGISTRY OPERATIONS:

       

       1- Get workplace and work permit from the municipality.

        2- Deposit the environmental and cleaning tax

        3- Do not forget to take the rental contract. Learn the m2 of your office or workplace.

        4 - Send a copy of the Chamber of Commerce Registry document

        5-  Tax Ceritificate Document

        6-Trade Registry Gazette

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    Joint Stock Companies is the most comprehensive company type in terms of organization process and accounting processes. 

 

    On this page, we will write the processes related to the establishment of the joint-stock company. It can show some changes according to the criteria such as the establishment process of an incorporated company, the characteristics of your business, the size of your business.

Process of joint stock company establish - jsc formation stages in Turkey

03.6.2021 updated

JSC Joint Stock Company Formation Process in Turkey

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     After the completion of these processes, the company may start its commercial activities. You can use official documents such as invoices, shipments, expenses, and receipts to be used in your commercial activities. Staff can run, you can open another commercial account from banks, you can get a checkbook.  Your Accountant - CPA will detail information about accounting process, according to the requirements of your business.