Open a Business | istanbul.com

Startup Permits

Foreign entrepreneurs who want to start a business in Turkey must first fulfil a set of standards before they can start working. The following are the stages: deciding on the type of business they want to form and completing and notarizing the relevant documents in accordance with the Companies Act; Create a bank account for the firm and deposit the required share capital; according to the legislation, nominate the company's directors or management; send the documents for incorporation, together with the identities of the shareholders and management, to the Trade Register; Obtain tax and VAT numbers, as well as social security registration with the tax office.

Turkish Startup Ecosystem

Turkey is experiencing one of its strongest periods, with investments exceeding $1 billion in H1 2021 and all-time high outcomes. Getir and Dream's success stories contributed to a huge majority of investments (94 percent of total investments in 2021), resulting in an x25 increase in investment in H1 2021 compared to the same time the previous year. According to startups, results without the outliers show a rising trend, with a 49 percent increase over the same time period. Observe the data. According to a simple calculation, volume will most certainly approach $1.4 billion in FY 2021, with more than 400 rounds.

Coworking Space

Definition of a Coworking Space A shared office space is what a coworking space is. They are used by digital nomads and remote organizations to get the benefits of having an office without having to rent one or stay in one spot to use one.

How to Start A Business

Clarify Your Ideas If you have the desire to start a business, you probably have already chosen an industry you’d like to dive into, or at least decided what you would like to trade. Do a swift research and find out what other companies or business leaders are doing in the industry that you have chosen, in order to ascertain what you can or should do better than them. If you think that you have something other companies don’t or that you can provide the products better or cheaper, follow the steps below.

Finding Office Spaces

Examine Your Office’s Requirements The first step in selecting an office for your company is to determine your company’s and employees’ needs. Determine how much room you’ll need, your overall budget and the type of office space you’ll need. Before looking for and viewing suitable office locations, figure out your parking needs, office design, and potential company growth.

Work Permits

Work permits differ from country to country since every country has its own laws that people are required to follow. This is why we’ll focus on the work permits of Turkey.

Basics of Employment Law

Status of Employee In the Turkish labour law legislation, no legal distinction is made between “blue-collar” and “white-collar” employees. Both types are regulated by the same general employment regulations. One exception to this principle is that senior managers, who are considered employer's representatives, cannot request overtime wages or benefit from employment security (right to reinstatement). The regulations set out the minimum standards of employment, and they can be increased by individual employment contracts or collective labour agreements.

Accelerators and Incubators

The variety of funding alternatives available to entrepreneurs might be daunting. Do you use crowdsourcing or take out a business loan? Accelerate or incubate?

Registering A Company

Turkey Limited Company Registration A Turkish Limited Liability Company (LLC) must have a capitalization of 10,000TL and 1 to 50 shareholders to be formed. A partnership care is determined for an LLC shareholder based on the nominal value of capital committed to. In some circumstances, regardless of nominal value, each shareholder's whole share is treated as one equity share. Transfers of shares in an LLC are subject to significant limitations (such as approval by other shareholders representing 75% of the capital) and may be prohibited entirely.