By establishing branches that may be incorporated through registration in the Central Registry System (MERSIS) and the trade registry, foreign companies can take advantage of commercial opportunities in Turkey. This enables foreign persons to do business in Turkey without having to set up a new corporation or change their company’s registered office to Turkey. The incentives and opportunities that Turkey avails to foreign investors makes this process very interesting.
How is The Process of Branch Opening Done?
Application Process:
Forebears begin the process by creating an account opening application through MERSIS online platform. Such applications are made by smoking request for a number followed by submission of completed files to the specific Chamber of Commerce.
Registration Procedures:
When such application are favorably considered, the registration initialied at the trade registry office is completed. This exercise needs someone who is a fully authorized representative living in Turkey to be appointed.
What are the Requirements for The Branch Opening?
The managers must comply with the branch opening conditions mooted by the laws of the country of registration. Establishment of Branches in Turkey
The managers must designate a fully authorized representative,
The managers must ensure that the branch is entered in the relevant trade register.
Necessary papers
A branch-opening procedure requires such papers as the trade name, capital, and area of business plus particulars about the authorized officers of the company. Those papers should be filed to the concerned chamber of commerce.
Expenses and Time Frame
The expenses associated with establishing a branch differ according to company structure. Approximately 20,000 TL for joint stock companies and about 4,000 TL for sole proprietorships. The whole procedure usually take approximately two weeks.
Remote Branch Opening Facility
Foreign investors are able to open branches without travelling to Turkey. Instead, in such instances, a representative in Turkey, cross-authorization through a granular power of attorney, takes care of the transactions.
Steps Forward for Foreign Firms
After the branch is set up, it is expected to appoint a branch manager, go through the employment law process for foreign workers, and adhere to tax, contract, and other legal requirements
Why Open a Branch? – Advantages
Turkey is a market that has a lot of possibilities as it is one of the developing markets. Establishment of a branch provides foreign entities with not only the opportunities for investment but also for business growth.
For more detailed information and professional legal support, you can contact CCS Law. We assist in everything and provide guidance and assistance to enable foreigners to commence business operations in Turkey without any hindrance.
Disclaimer: This article is intended for informational purposes only and does not constitute legal advice.
#BranchesInTurkey #ForeignInvestmentTurkey #MERSIS #TradeRegistryTurkey #BusinessOpportunitiesTurkey #EstablishBranchInTurkey #CCSLaw #TurkishCommercialLaw #InvestInTurkey #TurkeyBusinessSetup