Company/Branch Office Formation
Foreign companies not resident in Turkey may perform their commercial activities in Turkey by means of branch offices or local companies which they will establish in Turkey for reasons such as getting access to developing markets or satisfying their need for new markets.
Unlike Liaison Offices, branch offices and companies may engage in commercial activities.
Branch offices are characterized in that they:
- are affiliated to the head office,
- are independent,
- engage in activities at a different location,
- have a joint or separate accounting,
- are able to engage in commercial activities on their own.
The activities to be performed by the branch office must be identical or similar to those of the head office. In contrast, if a separate company is formed, such company may engage also in activities that are beyond the parent company’s field of activity.
Branch offices have to be registered both at the commercial registry and chamber registry. This obligation is stipulated by the Turkish Commercial Code with a provision reading as “The branch offices of business corporations, the head office of which is located in Turkey, must be registered and promulgated in the commercial registry of the place they are located at”.
A foreign-capital company may be formed, in which the parent company is a shareholder as legal entity.
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In either case, you can get support from Mioseta in order not to lose time with the legal procedures and bureaucracy of a different country.
Mioseta will be in direct contact with the foreign employer through its English-speaking accounting staff in order to keep the relevant accounting records.