Investment

Start-up Expenses of Limited Company

Limited Company Start-up Cost will vary according to the business you will conduct, number of partners, number of managers, capital and rental price, etc.

Limited Company Start-up Cost is calculated for 2016 as follows. Work permit cannot be taken for the partners or foreign employees of the companies established with the following data; capital should be 100 thousand Turkish Liras for work permit. Following calculation is standard start-up company.

Example Data:
• Number of partners: 1
• Number of managers: 1
• Capital: 10.000 Turkish Liras
• Rent: 1.000 Turkish Liras (Gross)
• Sector: Wholesale Textile

Expenses
• 2 Statements of Signature for manager: 64,00 Turkish Liras
• 1 Power of Attorney for Start-up: 80,00 Turkish Liras
• 3 Copies of Birth Certificate for each partner: 67,00 Turkish Liras
• 3 Copies of Certified Articles of Association: 450,00 Turkish Liras
• 2 Specimen of Signature for each manager: 161,00 Turkish Liras
• Accounts Book Certification Fee (50 Pages): 320 Turkish Liras
• Stamp Duty for Rent; without bail: 1.000 x 12 = 12.000 x 1,89/ 1000 = 22,68 Turkish Liras
• Stamp Duty for Rent; with bail: 1.000 x 12 = 12.000 x 11,37/1000= 136,44 Turkish Liras
• Registration: 1.000 Turkish Liras
• Certificate of Activity: 10 Turkish Liras
• Competition Authority Payment: 10.000 *4/10,000 = 4 Turkish Liras
• Blocking ¼ of the Capital at bank: 10,000 / 4 = 2.500,00 Turkish Liras (This amount can be retrieved after the company is established.)
• 2 Company Stamps: 30 Turkish Liras
• 1 volume Consignment Invoice: 100 Turkish Liras

Titles and total amounts of the abovementioned expenses are as follows:
• Printing Expenses: 130,00 Turkish Liras
• Financial Consultant Start-up Fee: 3.481,00 Turkish Liras
• Bank: 4,00 Turkish Liras
• Chamber of Commerce: 1.010,00 Turkish Liras
• Tax Office Expenses: 22,68 Turkish Liras
• Notary Public Expenses: 1.142,00 Turkish Liras
TOTAL: 5.789,68 Turkish Liras

Note:
• Capital blockage amount is not included in cost.
• Please add average 300 Turkish Liras for each additional partner and 500 Turkish Liras for each additional manager.
• Total amount may change slightly according to the total number of words in the articles of association.
• Cash register is not included since the business is wholesale (Average 500 Turkish Liras).

Please contact us for more information about Limited company start-up expenses.

Expenses after the company is established are as follows. We cannot indicate prices for these items, prices will vary according to the business volume of the company.
• VAT each month
• Insurance premium each month, if you have an employee
• BAĞKUR premium each month for managers
• Withholding tax in every three months
• Temporary tax in every three months
• Annual Corporate Tax
• Annual legal book certification
• Annual legal book closing certification
• Annual trade chamber membership fees
• Municipal taxes
• Financial consultant fee each month

Ata Kurumsal

Ata Institutional Consulting is a leading consultancy company in its field, with expert personnel, with 12 years of experience, providing residence permit, work permit, Turkish citizenship consultancy and corporate consultancy services to foreigners. Ata Instiutional Consultancy

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