How Much Does It Cost to Open a Company in Turkey?
How Much Does It Cost to Open a Company in Turkey?
How Much Does It Cost to Open a Company in Turkey?
Opening a business in Turkey can be a great opportunity for international entrepreneurs. However, understanding the costs involved is essential for making informed decisions. At OZM-CONSULTANCY, we offer a comprehensive service to help you set up your company in Turkey without the need to travel. In this guide, we break down the cost of opening a company in Turkey and the services we provide to ensure a smooth and successful company formation process.
OZM-CONSULTANCY’s Business Setup Services in Turkey
OZM-CONSULTANCY makes the process of opening a company in Turkey straightforward and efficient. Our expert team handles everything from company registration to opening a corporate bank account. Below is an overview of the services and associated costs for setting up a company in Turkey.
1. Company Formation Fees
When setting up an LLC (Limited Liability Company) in Turkey, the initial company formation fees are an important consideration. Here's the cost breakdown:
| Service | Year 1 (€) | Year 2 (€) |
| Company formation fees | €5,900 | €2,950 |
| Legal registered office fees | €2,250 | €2,250 |
| Government registration fees (estimate) | €1,200 | €210 |
2. Bank Account Opening Fees
Opening a corporate bank account is a key step in the company formation process. OZM-CONSULTANCY secures a multi-currency corporate bank account for your company, all without requiring travel to Turkey.
| Service | Cost (€) |
| Corporate bank account opening fees (without travel) | €4,950 |
3. Tax and VAT Registration Fees
All companies in Turkey must register for corporate tax and VAT. OZM-CONSULTANCY can assist you with these registrations for a one-time fee.
| Service | Cost (€) |
| Tax and VAT registration | €950 |
4. Annual Accounting and Tax Services
In addition to the company formation, you will need to comply with Turkey’s accounting and tax regulations. We offer annual accounting and tax services to handle these obligations:
| Service | Cost (€) |
| Annual accounting and tax fees | €4,950 |
For inactive or dormant companies, this fee is reduced to €1,200.
5. Project Management Fees
At OZM-CONSULTANCY, we provide comprehensive project management services throughout the company setup process. Our project management fee covers everything from planning to document management and weekly updates.
| Service | Cost (€) |
| Project management fees | €1,850 |
Additional Costs and Considerations
Apart from the core services, there are additional fees that may arise during the company setup process. These include:
Translation and Notarization Fees: Shareholder and director documents may need to be translated and notarized for registration with the Turkish government and banks. The cost for translation and embassy attestation is typically around €150 per document.
Government Inspection Fees: The Turkish Tax Office may conduct an inspection of your company's registered address before activating your tax and VAT numbers.
CPA Services: A resident tax agent (CPA) is required to handle your company’s tax filings. OZM-CONSULTANCY can provide a local CPA for a monthly fee of €1,250.
Why Choose OZM-CONSULTANCY for Your Business Setup in Turkey?
If you're considering opening a company in Turkey, OZM-CONSULTANCY offers a seamless process with expert guidance. Here’s why you should choose us:
Expert Guidance: Our team ensures that you understand every step of the process, from company formation to tax registration and bank account opening.
No Need to Travel: We help you set up your business without the need to visit Turkey, saving both time and money.
Fast Setup: We aim to complete your company formation within 5 weeks, allowing you to start your business in Turkey as soon as possible.
Transparency: All our fees are clearly outlined, so you won’t encounter any unexpected costs or surprises.
Conclusion: The Cost of Opening a Company in Turkey
Setting up a company in Turkey is an exciting opportunity, and with OZM-CONSULTANCY, the process is efficient, transparent, and cost-effective. The total cost of opening a company in Turkey varies depending on the services you require, but with our expert assistance, you can be sure that your company formation will be completed on time and without unnecessary complications.
Contact Us Today
To get started with your company formation in Turkey, reach out to OZM-CONSULTANCY. We provide full support throughout the process, ensuring a smooth and successful setup. Visit our website for more details: info@ozmconsultancy.com
