10 steps to incorporating in Turkmenistan in 2024

1. Prior to incorporating the company, our Client i) settles Healy Consultants’ fees, ii) signs and returns our Client engagement letter and iii) provides us all the required due diligence documents;
2. Next, Healy Consultants drafts a detailed project plan, mapping out by week each step to engagement completion, thereby optimizing transparency and setting Client’s expectations;
3. Our Client provides us the proposed company name(s) and the corporate structure. Thereafter, Healy Consultants reserves company name with the State Registration Service of Turkmenistan and proceeds to prepare company deeds of establishment and articles of association;
4. Our Client supplies Healy Consultants with a lease agreement for their office premises. If not possible, Healy Consultants offers our Turkmenistan virtual office services for 6 months until our Client finds their preferred business address. If requested, Healy Consultants may also assist the Client with finding a business address, as the property market in Turkmenistan can be difficult to navigate;
5. Next, Healy Consultants assists our Client open a capital account with a reputable local bank. Our Client deposits 50% of the paid up share capital and supplies Healy Consultants with a certificate of deposit and bank statement;
6. Healy Consultants submits all corporate documents to the companies registrar and applies for a certificate of state registration. Thereafter, the company will be incorporated in Turkmenistan;
7. After completing the incorporation process, Healy Consultants registers the entity with the local tax authority. Our experts also liaise with a local Firm to prepare a new company seal;
8. Healy Consultants arranges for the bank signature specimen cards to be sent to our Client. Once our Client has signed the specimen cards in the presence of a notary and couriered them, a permanent bank account can be opened;
9. If required, Healy Consultants will assist our Clients with hiring employees in Turkmenistan. For more information about our employment services, please refer to this HR services webpage;
10. Following company incorporation engagement completion, Healy Consultants couriers a full company kit to our Client, including the original corporate documents, unopened bank correspondence, and a Client feedback survey;