What are the most important factors to take into account if you choose a jurisdiction to set up your business? These may include easily accessible trade routes, the probability of obtaining profits from your business, low taxes, minimum red tape, pro-business laws, and many more. If we take Turkey, it will not be surprising that entrepreneurs from all over the world flock here to establish companies as all of these parameters are excellent! This is a very business-friendly country, and if you rely on the help of specialists who know all the ins and outs, you will get your company in no time!
If you are interested in this sunny destination, we will be happy to invite you to our portal where you will read a more detailed article on the advantages of registering in Antalya’s Economic Zone and discover a lot of other articles on Turkey and other top destinations for non-resident entrepreneurs. You are welcome to book a free session with our experts to discuss the issues of doing business in Turkey and make sure this is the country you would like to deal with. And if you do, we will help you easily overcome all the administrative barriers to start conducting business operations in no time (we will open a corporate account for you as well if you need to). Click on the link to explore our portal or contact us straight away!
Free Economic Zones in Turkey
The Turkish government has created a number of free industrial and economic zones to simplify access to the international market for foreign companies, and all of them are located near ports. These territories are excluded from the Turkish customs zone, and products are manufactured and delivered in accordance with foreign economic standards.
If your Turkish LLC is registered outside FEZs, it has to pay taxes at the following rates:
- VAT ranges between 1% and 18% depending on the type of activity
- The dividend tax rate is 18%
- The corporate tax rate ranges between 20% and 22%
- The profit tax rate depends on the amount of income and varies from 15% to 40%
However, companies registered in FEZs may be liable for zero taxes and customs duties if they fulfill all the conditions of the program for non-resident business founders.
Antalya’s Free Economic Zone
Antalya’s FEZ gives non-residents an opportunity to open a company from scratch or make joint investments with the national capital. It is also used as a duty-free import/export zone by other countries.
Company registration in Antalya’s FEZ will help you make your first step into the world market with minimum financial costs involved. This is a zone suitable for different companies, from banking/insurance agencies to manufacturing and trading enterprises. Here are some popular business areas you can choose from:
- Banking and insurance
- Manufacturing of different products, including food and textiles
- Renting out premises and different real estate
- Construction of yachts for recreation
- Equipment assembly and repair
- Trade in different products
Antalya’s Free Zones: Benefits
Let’s look at the main takeaways a non-resident will get by incorporating a company in Antalya’s Free Trade Zone or Free Economic Zone:
- The products from the FEZ can be delivered to international and Turkish markets
- Three major ports (Aegean, Mediterranean, and Black Seas) are located nearby
- The land rent rate is not very high
- Settlements can be made in any convertible currency
- The areas offer lower duties and tariffs
- The activities carried out in the FEZ are subject to zero tax rates, while certain products and transactions are subject to minimum taxes
- Production companies do not pay any income tax
- Turkish free zones are covered by double taxation avoidance treaties
- You will pay zero VAT at all stages, including construction, design calculation, and approval
- The income you obtain from the activities conducted within the FEZ can be transferred to another country without any limitations
The FEZ in Antalya is a great choice, and we are sure you will appreciate it. If you have any questions, do not hesitate to click on the above link and get in touch with us.
Turkish LLC: Benefits
A limited company, or a Limited Sirket in Turkish, is a legal form that can be registered by an individual or a legal entity using the same procedure as local residents do.
Let’s look at the main advantages of a Turkish LLC:
- One-fourth of the authorized capital should be paid at the stage of company registration, while the remaining amount is payable over 2 years.
- Company founders and CEO can be citizens of any country.
- The minimum authorized capital is set at 10,000 Turkish Liras.
- The company can be founded by 1 person, and the maximum number is 50.
- Locals and non-residents have equal rights when it comes to doing business.
You can choose to incorporate your company with a personal visit or remotely if you provide a power of attorney to us. In the latter case, you will still need to come to Turkey for 1-3 days to put a personal signature.
Company Setup: Procedure
Let’s take a look at the main steps you will have to take to incorporate an LLC in Antalya’s Free Economic Zone:
- Register an LLC using our support or independently.
- Submit applications for all the required business licenses.
- If your application is approved, you will need to conclude premises, warehouse, and land lease agreements with FEZ operators in a matter of 30 days.
- As soon as your lease agreements have been registered, re-apply to the Main Department to obtain a license required to engage in business activities in the FEZ of Antalya.
Why Should You Trust Us?
Here are the reasons why you should delegate all the hassle to us:
- We will sign an official agreement that will have legal effect.
- You pay only 50% of our fee at the start, and the remaining amount is payable after you receive the company documents.
- We have been cooperating with our Turkish partners for many years, and we can say that they are absolutely reliable. They work through their office in Antalya, which considerably reduces the time required for company setup.
Interested? Click on the above link to explore our portal or talk to our expert!
