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Company Registration in Turkey

Company Registration in Turkey

In order for a company to be legally registered in Turkey, the law requires a specific incorporation procedure to be completed with the local Trade Register. While company registration is the most important function of the Turkish Trade Register (Central Registry Record System (MERSIS)), this authority has multiple roles. This article will discuss the main aspects and the Trade Register in general. Our lawyers in Turkey can represent international and local investors in business incorporation in this country.

Short Facts
The Turkish Trade Register is known as Central Registry Record System (MERSIS) or Ticaret Sicil Gazetesi (TTSG)
Main roles of the Trade Register in Turkey – company registration,
– maintaining business records,
– registering company updates,
– verifying & reserving trade name,
– serving as official correspondence with other public agencies, etc.
Documents for business registration – Articles of Association,
– Memorandum of Association,
– standard application forms,
– proof of capital deposit,
– proof of business address, shareholders’ IDs, etc.
Business location registration With the Turkish Trade Register
Legal protection offered (YES/NO) YES
Issuance of the Certificate of Registration (YES/NO) YES
Public transparency provided (YES/NO) YES
Examination of documents By the Turkish Trade Register when the business registration process starts
Precautions Incorporation documents must be translated into Turkish.
Business updates with the Turkish Trade Register When the business changes its name/structure/management/capital, etc.
Appointments Mandatory for business registration at the Istanbul office and other locations
The Turkish Trade Register is overseen by The Ministry of Commerce in Turkey
Other roles of the Turkish Trade Register Keeping/archiving company records
Official announcements Made through the Turkish Commercial Registration Newspaper
Working with our Turkish agents For:

– business registration in Turkey,
– notification in case of company changes,
– preparation of documents, etc.

How to incorporate a business with the Turkish Trade Register

If you want to register a business with the Turkish Trade Register, you must consider the following formalities:

  • verification and reservation of business name;
  • preparation of company incorporation documents, depending on the chosen business structure in Turkey (e.g., limited liability company, joint stock company, sole trader, etc.);
  • filling the standard forms provided by the Turkish Trade Register.

Once all these steps are completed, the Trade Register in Turkey verifies the documents. If certain papers are missing, the institution in question will send notifications. Otherwise, the company will issue a Certificate of Registration. In order to benefit from specialized support in the formalities imposed by the Turkish Trade Register, we recommend our team. You can collaborate with our lawyers in Turkey for business registration. Here is an infographic that explains some of the roles of the Turkish Trade Register:

turkish-trade-register1.png

Documents requested for company registration in Turkey

These are some of the most important documents required by the Turkish Trade Register when opening a business:

  • application form offered by the Turkish Trade Register, which must comprise details about the business owners, directors, representative agent (if it is the case), business address, etc.;
  • Articles of Association and Memorandum of Association;
  • proof of minimum share capital according to the type of entity;
  • signature declaration.

Please note that the documents related to company registration in Turkey must also include information about the company's activities. It is also necessary that these formation documents be translated into Turkish before submission. Keep in mind that our Turkish lawyers can represent you with a power of attorney when you want to incorporate a firm with the Trade Register in Turkey.

Main functions of the Turkish Trade Register

Apart from the business registration formalities & procedures, the Trade Register in Turkey also deals with:

  • keeping company records;
  • allowing public access to the company information of forms registered in Turkey;
  • registration of business modifications when changes occur in the firm;
  • serving as official correspondence with other Turkish public institutions;
  • ensuring all companies comply with the business laws and regulations in Turkey.

Please explore the following video presentation with details about the Turkish Trade Register:

Altering business information for a company in Turkey

As mentioned above in this article, the Turkish Trade Register has other roles too. For example, all changes made to an already existing company must also be found in the records of the Trade Register in Turkey. For example, the institution must be notified of changes in the shareholding or business structure, capital modification, business name, etc. Also, if a private limited liability company turns into a public one, this must be submitted to the Turkish Trade Register. In such cases, certain documents will be completed and registered.

Legal support for starting a business in Turkey

Even if the incorporation process of a firm in Turkey is not that complex, particularly bearing in mind the formalities imposed by the Turkish Trade Register, it is recommended to have in place the legal advice and guidance of a specialized lawyer in company formation. The registration of a company in Turkey must respect the Commercial Code and the Company Act, so the legal advice of a Turkish attorney is needed. All the necessary documents and approvals can be successfully handled by one of our experts, who can start the registration process of your company with the Turkish Trade Register. Our lawyers can also help you start a business in Turkey  in approx. 2-3 weeks

Number of active companies in Turkey

Here are some statistics about the number of operating companies in Turkey:

We invite you to learn more about the roles of the Turkish Trade Register by contacting our law firm in Turkey. We can represent you in company registration in Turkey.