| LLC | Free Zone Company | JSC | Rep Office | Branch Office | |
|---|---|---|---|---|---|
| Local Name | Limited şirket | Serbest Bölge Firması | Anonim şirket | Temsilcilik | Şube |
| Company Setup Time | 10 days | 20 days | 10 days | 15 days | 15 days |
| Bank Account Opening | 10 days | 10 days | 10 days | 10 days | 10 days |
| Government Grants Available | Yes | Yes | Yes | No | No |
| Government Contracts Bidding | Yes | Yes | Yes | No | No |
| Limited Liability | Yes | Yes | Yes | No | No |
| Client Required to Travel | No | No | No | No | No |
| Inquiry | Inquiry | Inquiry | Inquiry | Inquiry |
Corporate Structure Explained
Turkey Limited Liability Company
- One director and one shareholder are required. There is no need for a resident secretary.
- At least one director and one shareholder must be appointed by a Turkey LLC. There is no need for a secretary residing in Turkey.
- It is required at least one shareholder and one director of any nationality. The minimum share capital is EUR 3,300.
Branch office
- A Turkish branch can operate within the scope of the parent company. The branch office in Turkey is authorized to send invoices to customers in the country, to sign local sales contracts and to receive income from customers.
Representative office
- If a foreign company does not plan to conduct direct commercial activity in Turkey, it can seek to set up a representative bureau.
- The company can only conduct market research and participate in activities that promote the parent company’s business.