YENİ BAŞLAYANLAR İÇİN ŞİRKET KURULUŞU

COMPANY FORMATION FOR BEGINNERS

Important points

• Clarify your business idea and conduct market research.
• Select the company type and follow the legal process.
• Create your business plan and identify financing sources.
• Make the right choice of financial advisor.
• After establishing a company, focus on recruiting, marketing and financial planning.

Introduction to Establishing a Company

Establishing a company is a big step in business life. What is a company? A company is a legal structure established by people who come together for a common purpose. This structure is established with capital and organization. Advantages of starting a company include legal status, business expansion and international activities.

The advantages of establishing a company are:

• Limited liability: Company owners take risks as much as capital.
• Corporate identity: Establishing a company gives your business a professional image.
• Access to finance: Companies can get loans more easily than individual businesses.
• Tax advantages: Companies can benefit from more advantageous tax regulations than individual businesses.

Before establishing a company, you should evaluate your business idea in detail and conduct market research. You need to determine the legal structure of your company, prepare your business plan and research financing sources.

"Establishing a company is one of the most effective ways to make your dreams come true. Good planning and solid infrastructure are essential. " Mustafa Koc, Koc Holding Chairman of the Board

There are different types of companies in Turkey. These include Joint Stock, Limited, Collective and Commandite Companies. Each type of company has its own unique partnership and capital structure. When choosing a company type, choose the one that suits your business model and goals.

Types of Companies in Turkey

There are various options for those who want to establish a company in Turkey. According to the Turkish Commercial Code, there are five types of companies. These; They are joint stock, limited, collective, commandite and cooperative companies. Each type of company offers unique features, advantages and disadvantages.

Before establishing a company, it is important to know these types well and choose the one that best suits your business idea.

• Incorporated company

Joint stock companies are companies that are divided into certain capital and shares and are liable for their debts only with their assets. Establishing a joint stock company can be a bit complicated. At least one founder and less than 50,000 TL capital is required.

Şirketin esas sözleşmesi hazırlanmalı, ticaret siciline tescil edilmeli ve ilan edilmelidir.

• Limited company:

Limited companies can be established by real or legal persons. Its capital is fixed and divided into shares. Limited companies are similar to joint stock companies, but have some differences.

The minimum capital is 10,000 TL and the number of partners cannot exceed 50.

• Unlimited company:

Collective companies are companies established for a commercial enterprise. Partners have unlimited liability for the company's debts. Two or more partners required.

• limited partnership:

Limited partnership companies are operated under a specific trade name. Some partners have unlimited liability to the company's creditors, while others have limited liability to the capital. There are two types of partners: Limited and limited partners.

• Cooperative

Cooperatives are established to meet the economic interests of the partners. Partners provide each other with assistance and solidarity. It can be established by real and legal persons.

Those who want to establish a company should consider which type of company they will choose. Each type of company has advantages and responsibilities. It may be useful to talk to experts on this subject.

Steps of the Company Establishment Process

Establishing a company is an important step in bringing your business idea to life. You should be careful about what it takes to start a company. You can find the important steps in the company formation process here.

1. Developing the Business Idea

At the core of every company is a good business idea. You should develop your business idea in detail and conduct market research. Analyze your potential customers and competitors. Make sure your business idea is viable and profitable.

2. Determining the Legal Structure

The legal structure of your company determines how you will manage your business, your taxation method, and your legal responsibilities. This structure affects many important elements, from your company's daily operations to profit distribution. The preferred company types in Turkey are:

• Joint Stock Company: Suitable for large-scale businesses. Shareholders' liability is limited to their capital shares.
• Limited Company: Ideal for small and medium-sized businesses. The liability of the partners is limited to the capital they contribute.
• Sole Proprietorship: It is a simple and low-cost type of company established and managed by a single person.
• Collective Company: It is a structure in which all partners have unlimited liability for the company's debts. It is generally preferred by family businesses.
• Limited Company: It includes two types of partnerships; limited partners (unlimited liability) and limited partners (limited liability).
• Cooperative: They are businesses with a democratic structure, established to protect the economic interests of their members. Members have equal voting rights and dividends are distributed among members.

Each type of company has advantages and disadvantages. Consult legal counsel when determining your company structure.

3. Business Plan and Financing

A business plan must be prepared to establish a company. The business plan should include goals, strategies, marketing plan and financial projections. A good business plan can attract investors.

Consider options for financing. You can use your own capital, take a bank loan or raise funds from investors. Financial planning is an important part.

4. Legal Processes

A series of legal processes must be followed to establish a company. These processes ensure that the company is legally recognized and operates. Follow these steps to officially establish your company:

• Determining the company name and applying to the trade registry office: You must determine a suitable and unique name for your company and register this name with the trade registry office.
• Preparation of the company contract and approval by a notary: You must prepare the company's articles of association and have this contract approved by a notary. This document determines the operation and structure of the company.
• Applying to the tax office and obtaining a tax number: In order for your company to become a taxpayer, you must apply to the tax office and obtain a tax number. This step is necessary for your company to meet its financial obligations.
• Company registration with the trade registry office: You must officially start operating by registering your company with the trade registry office. This registration ensures that the company is recognized as a legal entity.
• Application for permits and licenses: Depending on the sector in which your company will operate, you may need to obtain the necessary permits and licenses. These permits ensure that your company operates in accordance with certain legal and regulatory requirements.

Completing legal processes accurately and completely ensures that your company operates legally and prevents possible legal problems in the future. Therefore, it is important to follow each step meticulously and carefully.

The process of establishing a company requires careful planning and execution. By following the right steps and getting professional advice, you can be successful.

Documents Required for Company Establishment

The documents required to establish a company may vary depending on the type of company and its field of activity. But in general, the following documents are required for all companies and play an important role at every stage of the process:

1. Memorandum of Association or Articles of Association: It is an official document stating the legal structure, objectives, partners and capital structure of the company.
2. Tax Office Application Form: This is the form required to register the company with the tax office.
3. Identity Documents of Company Founders: Documents such as identity cards or passports required to verify the identities of the founding partners.
4. Signature Circular: It is an official document showing the signing authority of the people who will represent the company.
5. Tax Certificate: It is the document issued by the tax office showing that the company is a taxpayer.
6. Trade Registry Record: It is the document proving that the company has been registered in the trade registry.
7. Partnership Declaration: It is the declaration containing information about the partners of the company.
8. SGK Documents: Documents required for the registration of the company with the Social Security Institution.
9. Notary Approval: Some documents must be approved by a notary.
10. Business Opening Permit: The place where you will operate must be approved by the municipality or relevant institutions.

Ensuring that the documents required to establish a company are complete and accurate helps the process go smoothly. Submitting these documents in a timely and complete manner allows you to legally operate your company. In addition, preparing these documents completely and accurately will minimize the legal and administrative problems you may encounter in the future. The importance of these documents should not be ignored for the successful establishment and legal operation of your company.

Preparing the necessary documents for company establishment may require professional support. Financial advisors and law firms can assist you in this process.

The table below lists the documents required by different company types.:

In addition to company formation documents, additional permits may be required depending on your field of activity. Before establishing a company, you should research and prepare all legal requirements.

Choosing a Financial Advisor to Establish a Company

When setting up a company, it is very important to choose financial advisors who will meet your financial and legal needs. A right financial advisor builds your company on solid foundations.

• The Role of the Financial Advisor

The financial advisor manages your company's accounting and tax transactions. These duties include keeping accounting records, preparing tax returns, and ensuring regulatory compliance. Financial planning, budgeting and recommending strategies for company growth are also among the duties of the financial advisor.

The right financial advisor contributes to the long-term success of your company by protecting its financial health.

• Agreement with Financial Advisor

When choosing a financial advisor, you should consider some points. These points include the financial advisor's area of expertise, experience, references, communication skills and pricing structure.

A good financial advisor is not only a service, but also a trusted advisor and partner of your business.

The agreement you make with your financial advisor should clearly state services, fees, and mutual responsibilities. You should keep track of your financial situation and communicate effectively by having regular meetings.

Working with the right financial advisor allows you to leave accounting and tax matters in professional hands. This way, you can devote your time to growing and developing your business.

Benefits of Working with Ifatürk

When you choose Ifasturk as your financial advisor, your financial and legal transactions are secured thanks to our expert team. Ifasturk ensures that your accounting records are kept in an orderly and accurate manner and prepares your tax returns in a timely and accurate manner. Additionally, it contributes to the growth of your company by providing strategic consultancy on financial planning and budgeting.

By working with Ifastürk, you can minimize the financial and legal risks your business may encounter, protect your financial health and lay solid foundations for long-term success. Ifasturk is not only a service provider, but also a reliable partner of your business.

Things to Consider in Establishing a Company

There are many important points when establishing a company. Choosing the right type of company is very important for the future of the company. Each type of company has advantages and disadvantages. You should choose the company type according to its field of activity, goals and financial structure.

Preparing the company's articles of association is very important. This contract must specify the company's name, address, capital and management structure. Getting help from a professional legal advisor ensures that the contract is correct.

When establishing a company, completing the legal processes completely and correctly is extremely important to prevent future problems.

It is also very important to prepare documents and permits completely. These documents include the tax office registration certificate and the trade registry record. Submitting these documents on time and accurately is essential for the process to be smooth.

These are the things to consider when establishing a company:

• Choosing the right company type
• Complete preparation of the company's articles of association
• Completion of necessary documents and permits on time
• Seeking help from professional legal counsel
• Determining a name appropriate to the company's field of activity

Things to consider when establishing a company are very important for the success of the company. Making the right decisions and fulfilling legal requirements ensures that the company rises on solid foundations.

Mistakes Made in Company Establishment

Mistakes made when establishing a company can negatively affect the future of your business. Being aware of these mistakes and avoiding them is important to building a successful company. Below is information about some common mistakes when starting a company and how you can avoid them.

1. Inadequate business plan: One of the most common mistakes made when starting a company is not creating a comprehensive business plan. The business plan should include your company's goals, strategies and financial projections.
2. Choosing the wrong company type: Each company type has its own advantages and disadvantages. Choosing the type that best suits your company's needs is critical to long-term success.
3. Ignoring legal requirements: When establishing a company, all relevant legal requirements must be met. It would be beneficial to get professional support from a lawyer or financial advisor during this process.
4. Insufficient capital: Many entrepreneurs start their businesses without sufficient capital. This can lead to cash flow problems and even the early failure of the company.

When establishing a company, you should clearly define your goals and carefully plan the steps required to achieve these goals. It is also very important to establish the right team and have enough capital to meet the needs of your business

Other common mistakes made when starting a company include:

• Not separating personal finances from company finances
• Insufficient analysis of competitors and market conditions
• Failing to choose a suitable location
• Implementing wrong pricing strategies
• Not giving due importance to marketing and promotional activities

Being aware of and avoiding mistakes made when starting a company is critical to the long-term success of your business. With comprehensive planning, correct legal steps and sufficient financing, you can put your company on a solid foundation and minimize possible risks.

Cost of Establishing a Company

Establishing a company is one of the important steps of entrepreneurship. This process brings various costs. In Turkey, costs vary depending on the type of company and the amount of capital.

Establishing a limited company is cheaper. Because it requires less capital. The minimum capital for limited companies is 10,000 TL and for joint stock companies it is 50,000 TL. However, the capital may be more depending on the size and sector of the business.

Company formation costs include:

• Notary expenses
• Registry registration fee
• Book certification fees
• Stamp duty
• Chamber of commerce registration fee

Establishing a limited company costs an average of 2,000-3,000 TL. For joint stock companies, the cost is around 5,000-6,000 TL. These figures may vary depending on the sector and amount of capital.

Calculating company establishment costs correctly puts your business on solid foundations.

The table below provides information about the costs of establishing limited and joint stock companies:

To reduce company formation costs, plan the process well. Getting professional support can help you reduce costs. Financial advisors and legal advisors can offer the best solutions.

Guide to Establishing a Company

Starting your own business and becoming an entrepreneur is one of the most exciting ways to realize your dreams. The process of establishing a company consists of many steps and requires proper planning. This guide will guide you to a successful company establishment by explaining the steps of establishing a company step by step.

The first step in the process of establishing a company is to determine the area in which you will operate and develop your business idea. Conduct market research, analyze your competitors and define your target audience. In this way, you can ensure the sustainability of your business and develop the right strategies.

The next step is to determine the legal structure of your company. The most common company types in Turkey include joint stock company, limited company and sole proprietorship. Each type of company has advantages and disadvantages. It is important to choose the type of company that best suits your needs and goals.

When establishing a company, getting professional support on financial and legal issues ensures that the process goes smoothly. Working with an experienced financial advisor and legal advisor will help you minimize possible risks.

Documents required for company establishment include::

• Company articles of association
• Identity documents of the founding partners
• Tax plate
• Signature circular
• Trade registry record

Once you have prepared all these documents, you need to apply to the chamber of commerce to officially establish your company. Then, you fulfill your legal obligations by registering with the tax office and SSI.

By following the steps of establishing a company step by step, you can turn your dream job into reality. A planned and disciplined approach is key to setting up a successful company. By maintaining your determination and determination to work, you can achieve your goals and be the boss of your own business.

Steps After Establishing a Company

The newly established company must take some important steps before starting its operations. These steps ensure that the company grows successfully and achieves its goals. Recruitment process, advertising and marketing strategies, and financial planning are among these steps.

1. Recruitment Process

Creating the right team is very important for the success of the company. During the recruitment process, it is necessary to select the right people. The important points of this process are:

• Selecting people with qualifications appropriate to the job requirements
• Using the right recruitment channels
• Effective conduct of interviews with candidates
• Carrying out reference checks meticulously


2. Advertising and Marketing Strategies

The newly established company must develop effective strategies to reach its target audience and increase brand awareness. These strategies should be determined according to the characteristics of the company's products or services, the expectations of the target audience and the position of competitors. The following steps can be followed for advertising and marketing activities:

• Determining and analyzing the target audience
• Creating brand identity and message
• Selecting appropriate advertising channels (digital, print, outdoor, etc.)
• Active management of social media accounts
• Developing strategies for customer relationship management


3. Financial Planning

Financial planning must be done correctly to ensure the financial health and sustainability of the company. Financial planning aims to balance the company's income and expenses, manage cash flow and achieve financial goals. Things to consider when doing financial planning:

• Setting realistic financial goals
• Creating and following the budget correctly
• Monitoring cash flow regularly and taking precautions when necessary
• Timely and accurate preparation of financial reports
• Timely fulfillment of tax obligations

These steps, which are among the things to be done after the company is established, ensure the successful growth of the business. Carrying out these processes meticulously and taking the necessary precautions supports success in the long term.

 In conclusion;

Establishing a company is one of the important steps of entrepreneurship. You can realize your dreams by starting your own business. This step is very important to achieve your financial freedom.

The process of establishing a company starts from developing your business idea. Next, you need to determine the legal structure, make your business plan, and research financing sources. After completing all these steps, you must follow the legal processes and prepare the necessary documents.

There are points to consider when establishing a company. To avoid common mistakes, follow the process step by step. It is also important to get professional support. After establishing a company, you must manage the recruitment process, create advertising and marketing strategies, and make financial planning.

Founding a company requires courage and determination. With proper planning and execution, you can start your dream business. We wish you success in your entrepreneurial journey!

 Get Support in Company Establishment with Ifasturk

The process of starting a company can be complex and time-consuming. However, thanks to Ifastürk's expert staff, you can make this process easier and faster. Ifasturk helps you establish your business successfully by providing professional support in company establishment, legal processes, financial consultancy and financing. Choose Ifasturk to realize your dreams and take the right steps in your entrepreneurship journey. You are safe at every step with Ifasturk!

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Mesut SENEL | Ifasturk CEO

Independent Accountant Financial Advisor