At the last years, many people started to ask the issue of opening a branch office in Turkey. We can say many foreign investments has started to make to Turkey in globalizing world conditions by different people from all over the world. The demand of establishing a branch in Turkey by foreign companies increased so much recently. The process is so easy under today’s legal regulations by Turkish government.
The Turkish labor market showed a serious development at the last years. Accorting to many international investors, Turkey is one of the biggest enlarging markets of the world. There are some basic reasons of that, Turkey has a young population, developed infrastructure and transportation network. The Turkish Market is the second productive economy of European Union. It’s the main reason of the interest of foreign investors. With emerging economic conditions, Turkey will have many opportunities in the field of foreign investments and opening a branc office in near future. Many foreign investors are following closely Turkish market today.
Opening a Branch Office in Turkey
First of all, any foreign company must deputise somebody who are residing in Turkey. The person can be a Turkish citizen or anyone residing in Turkey with legal permission. The first application must be made to Ministry of Industry and Commerce by deputy. The required documents are below :
1) Petition (written by the company or the Attorney, containing the following information)
- Corporate name
- Date of establishment
- Name, surname, address and nationality of Turkish deputy
- The representative within the borders of Turkey to uphold the provisions of the legislation law and for commitment in the work that you do
- The address of the branch
- The branch’s activity
- The capital of the branch
2) Decision of opening the branch of the company’s executive bodies (the original and a translated copy)
3) The articles of incorporation of the company (original and a translated copy)
4) Company’s establishment documents and certificate of activity (original and a translated copy)
5) Substitute power of attorney (that will be needed, among other things, cover the following points in particular to two copies of the original and the translation)
- Performing operations that have been shown in the articles of association
- Representing the company
- The warrant of company for representation in all courts acting on behalf of the defendant and the third party.
- In the case of a temporary leaving from Turkey, don’t appoint proxies with the power and authority of
- Secondary branches that will be opened depending on the central branch that is authorized to appoint a proxy to specifying
The process is explained above and we can say the process has became so easier than the past times. If you have a foreign company and if you decide to open a branch office in Turkey, you have to follow the procedures. If your company fulfills the conditions, your permission will be granted by related authorities of Ministry.