Turkey’s strategic location at the crossroads of Europe, Asia, and the Middle East, coupled with its thriving economy and business-friendly environment, makes it an attractive destination for entrepreneurs seeking to set up a free zone company in Turkey.
Table of Contents
Among the many avenues available, forming a Free Zone Company in Turkey offers unique advantages that can significantly enhance a company’s competitive edge and growth potential.
How to Setup a Free Zone Company in Turkey?
Our team guides you in setting up a Free Zone Company in Turkey, the incentives for manufacturing and trading entities, the list of Free Zones in Turkey, and the step-by-step formation procedures, along with associated requirements, duration, and costs.
Advantages of Free ZoneCompanies in Turkey
Free Zones in Turkey provide several key advantages that make them a preferred choice for international investors:
Tax Benefits: Free Zone Companies enjoy generous tax incentives, including exemption from corporate income tax, value-added tax (VAT), customs duties, and other taxes for goods and services destined for export.
Customs Advantages: Goods imported and exported from Free Zones are exempt from customs duties and procedures, providing significant cost savings and efficiency for international trade.
Ease of Doing Business: Free Zones offer a streamlined bureaucratic process, making it easier and faster to establish and operate a business.
Access to Markets: Turkey’s Free Zones provide easy access to regional and global markets, making it an ideal location for companies seeking to expand their international reach.
Infrastructure and Support: Free Zones are equipped with state-of-the-art infrastructure, logistics facilities, and comprehensive support services, fostering a conducive environment for business growth.
Incentives for Manufacturing and Trading Companies in Free Zones
Manufacturing Companies: Manufacturing entities in Free Zones benefit from reduced production costs, access to skilled labor, and the ability to import raw materials and intermediate goods without customs duties, enhancing their competitiveness in the global market.
Trading Companies: Trading companies can leverage Free Zones to establish distribution centers, benefiting from simplified customs procedures, tax exemptions, and efficient logistics, enabling them to handle international trade more effectively.
List of Free Zones in Turkey
As of the current date, Turkey hosts several Free Zones, each strategically located to cater to specific industries and business needs. Some prominent Free Zones include:
- Mersin Free Zone
- Izmir Free Zone
- Antalya Free Zone
- Istanbul Ataturk Airport Free Zone
- Trabzon Free Zone
- Kocaeli Free Zone
- Kayseri Free Zone
- Gaziantep Free Zone
Formation Procedures and Requirements
Establishing a Free Zone Company in Turkey involves several key steps:
Investor Eligibility: Foreign investors and Turkish companies are eligible to set up Free Zone Companies.
Choose a Free Zone: Select the most suitable Free Zone based on your business requirements and industry focus.
Business Plan: Prepare a comprehensive business plan detailing your company’s objectives, activities, and projected financials.
Company Registration: Register your company with the Free Zone Administration and obtain the necessary permits and licenses.
Share Capital: Deposit the required share capital in a bank account.
Lease Agreement: Secure a lease agreement for a physical office or industrial space within the chosen Free Zone.
Hiring Employees: Hire local or foreign employees as per Turkish labor laws.
Customs Registration: Register with the customs authorities to commence import and export activities.
Duration and Cost of Setting up a Free Zone Company
The duration and cost of forming a Free Zone Company in Turkey can vary depending on the complexity of the business and the Free Zone chosen. Generally, the process takes around 6 to 8 weeks to complete. Costs include company registration fees, legal and administrative expenses, and share capital requirements, which typically range from USD 5,000 to USD 10,000.
Benefits of Establishing a Free Zone Company in Turkey
Forming a Free Zone Company in Turkey presents a compelling opportunity for global investors seeking tax advantages, streamlined customs procedures, and access to regional and international markets.
With its strategic location, world-class infrastructure, and supportive business environment, Turkey’s Free Zones offer a strong platform for companies to thrive and expand their operations. By following the step-by-step guide and understanding the advantages and incentives, entrepreneurs can make informed decisions to successfully set up a Free Zone Company in Turkey.
Contact us for Establishing a Free Zone Company in Turkey
Akkas & Associates Law Firm is a solution-oriented law firm that empowers clients to meet the diverse and changing demands of today’s global market. Since 1992, our lawyers have been helping clients with complex legal challenges and maximizing opportunities for success.
Our law firm is now one of the leading company formation law firms in Istanbul, Turkey. You may reach us to setup a free zone company in Turkey through our Contact page.
