This article explains basis of establish a company in Turkey for foreign enterprises without a work permit in Turkey. According to the law, the requirement to obtain work permits has removed for the joint stock company board members not residing in Turkey and limited liability companies non- authorised other foreign partners.
Foreigners are able to establish and take over a company as a %100 shareholder in our country, or providing that it is not less than %40 share (for work permit) they can be a partner for any company.
The company may be a single-partnered joint-stock or limited company, and the authorized person may be a foreign national.
If a limited company is established, it is necessary to have another Turkish partner and make that person authorized. If the company will be established by one foreign partner, the company would be Joint Stock Company. A Turkish citizen must be appointed (not a partner of the company) who has a work permit as the authorized officer.
If the summary is made about work permit,
– Company manager of limited companies and member of the board of directors of joint stock companies must have work permit.
– Member of the board of joint-stock company who is not residing in Turkey and a partner of limited companies that does not have the executive role is exempted from obtaining a work permit.
If the head of the company is a foreigner, he or she has to have the work permit.
In the event that the foreign partner has a residence permit valid in Turkey the work permit application can be made in Turkey; if they do not have a residence permit, then they need to apply for the work permit via Turkish Embassy in their country of citizenship. Work permits are not required for foreign partners during the establishment of the company and applications can be made later. (6 months later)
At least five Turkish Citizens must be employed for each foreign partner in the company requesting a work permit. For foreign company partners requesting work permit, it is required to have five Turkish employees in the last six months of the first year of the work permit. If a work permit is required for more than one foreigner in the same company, after the first foreign employee who receives the work permit, five Turkish Citizens must be employed for each foreigner.
The paid-in capital of the company should be at least 100,000 TL or the gross sales amount should be at least 800,000 TL or the export amount of the last year should be at least 250,000 Dollars.
The insurance of foreign partners can also vary depending on which country you are a citizen of. There are bilateral agreements with some countries.
Not resident in Turkey and foreign nationals from the board of directors meetings periodically to the board members shall not be considered as mandatory insured.
Documents Required;
-Passport
-Document showing the address abroad
-Tax Number
