Company Establishment in Free Zone

Company Establishment in Free Zone

Company Establishment in Free Zone

In order to operate in the Free Zone by obtaining a license, it is necessary to establish a new company with a Free Zone address or to open a branch of an established company.

The company may be established with domestic or foreign capital. In addition to domestic companies, foreign companies can also open a free zone branch.

 

Draft articles of association prepared in accordance with Circular No. 1998/4 by domestic or foreign legal entities wishing to operate in the free zone by establishing a company or branch, license application

At this stage, the Operating License Application form and the documents required to be attached to the form are sent to the Ministry of Trade. Following the preliminary approval of the application by the Ministry of Trade, an application is made to the Trade Registry Authority for the establishment of the company together with other documents related to the establishment of the company. The company to be established shall be subject to the provisions of the Turkish Commercial Code.

In case of operating in the free zone through a branch, the accounting records of the company headquarters and the accounting records regarding the activities of the branch in the free zone must be kept separately.

See also

Circular No. 1998/4 on “Evaluation of Activity License Applications, Company with Branch Address

On the other hand, domestic and foreign companies can buy and sell through the free zone without a license by obtaining a Warehouse Use Certificate within the scope of the 1999/1 circular.