TIn Turkey, foreign partnered companies or sharing transfer transaction to foreigner has been rising day by day. The most important issues that foreigners who set up business in Turkey are their allowance to work after setting up the business and habitation or residence permit.

Foreign-capital company, branch and contact office institutions present service to demands of foreign national company suitable for laws and codes of conduct that are applied in Turkey.

BFS Internal Audit evaluates demands of foreign national company according to Turkish laws and practices. It gives information about establishment, responsibilities and right of foreign national company according to Turkish laws. Company, branch and contact office institution provide service in transactions after establishment.

Foreign Partnered or Foreign-Capital Company Establishment Procedures: There is no legal obstacle for foreigners to set up a company or to become a partner with a company that has already been set up in Turkey. Anyone can start the charge or set up limited or stock company putting some finance. They should just provide interpretation and interpreter services during company contract reading as extra.

The most essential issue here to care is the necessity of tax professional’s commanding to topics of foreigner’s law and foreigner’s working and residence permits.

Because if foreigners want to get work permit and to live in Turkey after setting up company, it is must to implement some additional matters during the establishment of company.

Namely, if a foreign national individual sets up a company like regular Turkish citizen with 10.000 TL finance which is the lowest legal amount and shows the only 25 percentage of this amount as capital receipt, his work permit ,which he will apply later, will not be accessed. When foreigners set up company or become a partner with a company, they should care about the followings.

* Capital of company,
* Capital receipt of company,
* Share proportion as percentage,
* For stock company, whether they are in board of management,
* For limited company, he is residing in Turkey or will be,
* For limited company, whether he is manager or not,

As result, it is more detailed for foreigners ,who want to get work permit, to set up a company in Turkey than normal way of setting up a company. Therefore, it is beneficial not only to set up a company with the help of tax professional, but also to set up with the help of counselling. Otherwise, these two matters are ignored by European Union citizens who can get work permit for a long time.

- Foreigners who set up stock company or become a partner to stock company must have the work permit in every circumstances.

- Even if foreigners who is manager at limited company do not reside in Turkey, they must have the work permit.