Turkey employment visas
All foreign individuals must apply for a residency permit for employment in Turkey. However, due to relatively liberal laws, it is easier and cheaper to obtain a Turkish work permit. A visa can be purchased on arrival to Turkey for €15, which entitles the applicant to stay in and leave/re-enter the country for a maximum of 90 days. In this time, a residency permit for working in Turkey can be applied for.
There are a few exceptional cases where foreigners are automatically eligible for a work permit of any nature (independent, definite or indefinite). These cases include:
- European Union citizens: an individual (and their spouse and children) who is a citizen of the European Union are exceptionally eligible for work permits that may also be granted for longer than standard periods;
- Foreigners married to Turkish citizens: a foreign individual who has a Turkish spouse may apply for exceptional work permits which may be granted for longer than standard periods. However this right is lost if the couple separate within the first three years of marriage. In the case of a divorce after three years of marriage, the foreigner may be classed as “having settled down” and retain the right to work.
Healy Consultants assists our Client obtains employment and residence visas from the Immigration Department of Turkey to allow them to live and work in Turkey. We are proud to say that our approval rate is still 100%. Healy Consultants’ fee to assist our Client obtain a work permit is €3,950.
The two important visas associated with registering a business in Turkey are:
Independent Work Permit (Entrepreneur visa)
An independent work permit applies to a foreigner setting up a business operation, and is only available if they have lived legally and uninterrupted in Turkey for at least five years, and can show that their business will create employment opportunities or contribute to local economic development. If they qualify, a Certificate of Application for Independent Work Permit is issued. This is valid for three months, during which time the business is set up and the trade register record submitted to the department. The approval process takes around 8 weeks and the visa allows you to work in Turkey for a 1-year period.
Work Permits for employees
A Work Permit is an employment pass best suited for individuals who wish to work in Turkey as an employee. The Turkey employment visa is split into two categories dependent on the length of time the applicant intends to work in Turkey:
- Work Permit for a definite/fixed time: This is a work permit that allows an individual to work in Turkey for up to a maximum of one year. After the year, once the permit has expired, it can be extended up to three years provided it is for the same job with the same employer. It may then be extended for a further three years and is valid for work with any employer provided the profession remains the same;
- Work Permit for an indefinite time: Foreigners who have been resident in Turkey for at least eight years without interruption, or have worked in the country for at least six years, qualify for a work permit of unlimited term with no restrictions. Time spent in education does not contribute to the eight year period.
The employer application and employee application must be submitted within 10 days of each other. The approval process takes around 8 weeks and the applicant is required to go to the Turkish Consulate to obtain the visa. The visa is then valid for the time specified by the visa (if any).
Corporate banking options
|International banks in Turkey||Local banks in Turkey|
|Citibank||Türkiye İş Bankası|
- To receive the best Internet banking and customer service, Healy Consultants recommends international bank Citibank for most corporate bank account solutions. Local banks can be used where appropriate for the Turkey business;
- Healy Consultants Compliance Team can open an international corporate bank account within 3 weeks from the date your Company is registered. Our Client may need to travel to meet the Turkey Bank;
- Where possible, Healy Consultants bank account opening team will liaise with the Turkish bank to prevent our Client having to travel for an account opening interview;
- Healy Consultants assists our Client open a Turkey corporate bank account. Our Client deposits the paid up share capital of capital of €3,300 and supplies Healy Consultants with a certificate of deposit and bank statement;
- There is no limitation on the inflow or outflow of funds for remittances of profits, debt service, capital, capital gains, and returns on intellectual property or imported inputs. The Turkey currency is the lira and the exchange rate is TRY$2.02 = US$1.
- Turkey Banks will provide finance to Turkey registered companies provided the following conditions are met i) good Business-plan ii) availability of security iii) experience of business owners iv) last 3 years audited financial statements v) realistic feasibility study vi) project strength and weaknesses analysis (SWOT);
- To support their new business, Healy Consultants assist Clients with trade finance tasks including i) bank guarantees ii) letters of credit iii) finance against trust receipt iv) document against payment and against acceptance;
- Securing corporate finance in the form of a loan, overdraft or simply preferential credit terms are other corporate banking related aspects of doing business in Turkey.
- Turkey has a poor reputation with the Financial Action Task Force. Turkey is currently on the FATF blacklist, though it is not on the OECD ‘blacklist’ of tax havens. Consequently, Turkey banks are not obliged to share customer information with international Governments;
- Business banking in Turkey provides access to a full range of corporate bank account facilities including multiple currencies, internet banking, telephone banking, checking accounts, savings accounts, debit and credit cards, and wealth management services.
Frequently asked questions
Will I be required to register the details of my new Turkish company for public viewing?Yes. When our Clients start a Turkey company, they must enter the business details in the public register.
I am looking for professional Turkey company formation services. Can your firm help me?Yes. Over a decade, Healy Consultants’ experts are Turkey company formation specialists and have been assisting our Clients for over a decade.
How to open a company in Turkey?In order to form a Turkey company, our Client will need to i) reserve the company name ii) supply the Turkey office lease agreement iii) sign the company setup forms iv) register for tax and social security and v) obtain a business license.
What will be the corporate tax rate if I form a Turkish LLC?A business formation in Turkey is required to corporate tax rate at 20%.
What is Healy Consultants Turkey company formation fees?Our fees to assist our Clients start a new company in Turkey is €10,960. Please refer to the attached invoice for more information.