Tax and Business Law Consultancy

Tax laws require expertise. We are aware of the fact that our customers often encounter some tax-related problems even while doing their daily transactions. We are aware of the difficulty of our customers to focus on their own activities while spending time on tax matters.

Of course, tax laws are vital for our customers. They need to be properly understood and interpreted. As VIP TurkishPass Specialists, most of whom are from the Ministry of Finance and are competent in their field, we produce professional solutions for our taxpayers for the most complex and challenging problems and situations with a tax dimension.

Advantages of Establishing a Company in Turkey

Having a highly experienced and specialized team in Tax, Capital Market, Incentive, Foreign Exchange, Foreign Capital Legislation and other Financial Legislation, VIPTurkishPass enables its customers to perform their transactions in accordance with tax laws and to reflect them on their records, as well as developing effective solutions to the problems encountered, and making decisions. It also provides consultancy services on incentives, protection and exceptions granted to taxpayers by tax and other financial legislation, to be evaluated during the process.

In addition to these, within the scope of today’s financial legislation practices, we develop solutions for the disputes our customers have with the tax administrations, and guide them in all administrative and legal processes related to disputes with our expert consultants.

Foreign Direct Investments are Supported

Today’s business world has a dynamism where borders disappear and differences in local business practices around the world bring various risks along with rapid globalization. Such a rapid change requires businesses operating in the international arena to take into account not only the local commercial and financial legislation, but also the legislation in the foreign countries where they operate, in their decisions and plans.

Insufficient knowledge on these issues exposes businesses to serious legal risks. In this context, we offer consultancy services to eliminate the legal risks that our customers may face in the national and/or international platform and to solve their legal problems.

A New Future

Business life in Turkey was further modified with the introduction of the new Turkish Commercial Code No. 6102 on 1 July 2012, which abolished and replaced the 55-year-old Turkish Commercial Code. [2] In line with European Union harmonization efforts, the new trade law has created a better structured and less complex business life.

Moreover, the law reflected basic EU principles such as free movement of capital. Among all, one of the main developments achieved by the enactment of the new law is the correction of the shareholding structure of companies. Accordingly, the new law allows the establishment of single shareholder joint stock companies or limited liability companies.

Moreover, foreign individuals can set up a joint stock company or a limited liability company. In joint stock companies, the board of directors can be formed by only one person and the board can also meet in an electronic environment. In addition, legal entities can be appointed as board members. Thus, foreign individuals or legal entities may establish a joint stock company and the board members may be foreign persons.

For documents issued outside of Turkey, the apostille annotation must be obtained and approved by the consulate or notary public. For company partners who are not Turkish citizens, a potential tax number should be obtained from the relevant tax office. Apart from these, ¼ of the main capital of the company and the share of the competition institution must be deposited in the bank.

The company will gain legal personality as of its registration by the trade registry directorate. Subsequently, transactions such as issuing a circular of signature for the manager or representative, book approvals, and obtaining a tax plate will be possible. Afterwards, it may be necessary to obtain a work permit for foreign partners.