Turkey has a very important geographical location between Asia and Europe, it is like a bridge between the world’s biggest two continents of the world. That is why in this article dear readers, I decided to talk a bit about how you can start your own job in Turkey, what is the conditions and a I will talk a bit about the process of establishing a company in Turkey. Keep up and I hope you can the benefit of this article.
The first main thing that you have to do whether you are a Turkish citizenship in Turkey or a foreigner is to find a financial advisor (Mali Müşavir), you can’t establish a company in Turkey without a certified financial advisor from the government, but don’t worry, there are many of them. You do the agreement with the financial advisor and give him the basic information about the company; The company’s activity whether you want to do trading, export import, or real estate, basically you have to tell him every single activity that you will do under your company’s name. also, you need to specify the capital of the company and you have to complete it in two years in the Turkish banks, the company’s address is required too. and last, provide the company’s name and your personal information. The establishment of the company takes around one to two weeks, at the end of the duration your company is ready to go.
The second main issue that is important to the financial advisor is to provide him your company’s buying or selling invoices, his real job starts here because he needs to calculate your expenses and income in order to let you know how much taxes you have to pay to the Tax Administrations (Vergi Dairesi), that is why the financial advisor will sign a contract between him and your company for a year and he will request a monthly fee from you. The financial advisor can help a lot about every thing related to the company and taxes any time and it is his job to teach you how you can deal with the system here.
Taxes in Turkey
I will talk briefly about the taxes in Turkey because this subject is related to the financial advisor as I mentioned but, in Turkey as a company there is two main taxes, the first one is Value Added Tax (VAT) and I am sure that you heard a lot about it (KDV), and the second tax is the Income Tax (Gelir Vergisi).
- Value added Tax:
VAT is a tax that applied to almost everything you buy in Turkey and it is normally around 18% of the total you buy, when you sell something your customer pay 18% as VAT too, this percentage varies a bit if the good or the service changes.
- Income Tax:
Income tax applies if you buy something and then sell it with profit, and this tax gets calculated by the financial advisor continuously, the percentage of the income tax in average is 22%.
Companies activities in Turkey
You may think what to do work in Turkey and what are the most opened and running companies in Turkey so allow me to enlighten your mind.
- Import & Export
Many companies run their job depending on trading locally and internationally because Turkey has a lot of resources and a very amazing location that makes it ideal to run trading.
- Real Estate
Turkey has a lot of running projects, clean fresh air, colorful nature and modern lifestyle, which make the foreigners attracted to buy house or apartments and start to run their businesses in Turkey, that is why a lot of them start running real estate agencies and businesses in order to keep up with the demand.
At the end of this article I really would like to recommend you to start learning Turkish because as I mentioned there a lot of responsibilities and dues to keep up with, so if you want to be safe and run your business correctly it is very recommended to learn Turkish language too.
So many peoples enroll to a Turkish Language Course before they establish their companies or after it. We suggest you come join to our one to one Turkish Language course or group lessons. Either way we will be here to help you. For more information about courses contact us.