Within the framework of the European Union adjustment works, “Reform Program of Improving Investment Environment in Turkey” was accepted and started to be implemented in 2001.
Obligation of getting preliminary permission from Foreign Capital General Directorate has been abolished for establishing foreign-capital companies with Direct Foreign Investments Law enacted within the scope of the reform program. Thus, after the date of 17 June 2003 on which the law was published in Official Gazette, establishment procedures of foreign companies are being conducted in the same way as domestic-capital companies. What a foreigner who wants to establish a company in Turkey must do is to apply to the relevant trade registry office and complete the necessary documents.
What must be done during establishment process:
1- Preparation, registration and announcement of articles of association
2- Notification of the establishment to the related authorities
3- Registration to Trade/Industry Chamber
It is a must to prepare the articles of association in written and to provide the signatures of all the founders in the agreement. Trade title to be used in the agreement is determined in a way that it will express the activities of the company and this title must not have been previously registered.