Turkey client case studies in 2024

UK fresh fruit import/export company establishes a subsidiary in Turkey

Background

1. Our client, a British Citizen based out of London with years of experience trading fresh fruits globally wished to establish a Turkish company for import and export of fresh fruit within Asia and Europe;
2. Having found Healy Consultants Group through Google, our Client sent us an email inquiry to obtain more information on the process and timelines to establish a Turkish company;
3. After multiple phone discussions, our Client confirmed they were interested to proceed with company setup but did not need a bank account opening assistance;

Engagement planning

1. Our Client then proceeded to complete and sign our engagement letter and settle the first instalment of our Turkey company incorporation fee with Healy Consultants Group to commence the engagement;
2. Healy Consultants Group prepared the dart of the proposed corporate structure for the Turkish company and emailed the same to our Client for review and approval;
3. Our Client then provided Healy Consultants Group with scan copies of all the due diligence documents as per our Firm’s KYC process requirements;
4. Healy Consultants Group then prepared a detailed project plan for the step-by-step process of company incorporation and tax registration;
5. Healy Consultants Group also drafted a Power of Attorney (POA) and emailed the same to your client for review, signature and apostille in the UK. Thereafter our client couriered the same to Turkey for translation and notarization;

Company incorporation

1. Our incorporation team submitted the proposed company names to Central Trade Registry System (MERSIS) and reserved our Client’s preferred company name;
2. Thereafter the team i) prepared all the company incorporation documents ii) collated all documents including the translated POA and submitted incorporation application to Trade Registry for consideration;
3. Within 1 week of application submission, Healy Consultants Group obtained the i) company certificate of registration ii) memorandum and articles of association and iii) temporary tax and VAT registration number;

Post-company incorporation

1. Our Client then proceeded to settle the last instalment of the outstanding Healy Consultants Group fees;
2. To comply with the Turkish Government legal requirements before commencement of operations, Healy Consultants Group advised our Client to appoint a Turkish CPA in order to activate the tax number with the Tax Office;
3. Our Client requested that we appoint our own CPA temporarily for purposes of tax number activation. Healy Consultants Group proceeded to appoint our CPA for 1 month and notify the Tax Office for activation;
4. Our Client then reverted stating they had appointed their own CPA and consequently Healy Consultants Group email our client the Tax Office login details to complete their own CPA appointment and to update the Tax Office of the same;
5. Healy Consultants Group also advised our Client on liaise with their local CPA to ensure his company abides by the monthly and annual accounting and tax filing requirements for their new company in accordance with the Turkish tax laws and regulations;
6. Healy Consultants Group’s the collated all corporate documents including certificate of incorporation, M&AA, tax certificates and Tax Office login details and couriered the same to our Client’s preferred address in Turkey.