Start-up Expenses of Lımıted Company

Limited Company Start-up Cost will vary according to the business you will conduct, number of partners, number of managers, capital and rental price, etc.

Limited Company Start-up Cost is calculated for 2016 as follows. Work permit cannot be taken for the partners or foreign employees of the companies established with the following data; capital should be 100 thousand Turkish Liras for work permit. Following calculation is standard start-up company.

Example Data:
• Number of partners: 1
• Number of managers: 1
• Capital: 10.000 Turkish Liras
• Rent: 1.000 Turkish Liras (Gross)
• Sector: Wholesale Textile

Expenses
• 2 Statements of Signature for manager: 64,00 Turkish Liras
• 1 Power of Attorney for Start-up: 80,00 Turkish Liras
• 3 Copies of Birth Certificate for each partner: 67,00 Turkish Liras
• 3 Copies of Certified Articles of Association: 450,00 Turkish Liras
• 2 Specimen of Signature for each manager: 161,00 Turkish Liras
• Accounts Book Certification Fee (50 Pages): 320 Turkish Liras
• Stamp Duty for Rent; without bail: 1.000 x 12 = 12.000 x 1,89/ 1000 = 22,68 Turkish Liras
• Stamp Duty for Rent; with bail: 1.000 x 12 = 12.000 x 11,37/1000= 136,44 Turkish Liras
• Registration: 1.000 Turkish Liras
• Certificate of Activity: 10 Turkish Liras
• Competition Authority Payment: 10.000 *4/10,000 = 4 Turkish Liras
• Blocking ¼ of the Capital at bank: 10,000 / 4 = 2.500,00 Turkish Liras (This amount can be retrieved after the company is established.)
• 2 Company Stamps: 30 Turkish Liras
• 1 volume Consignment Invoice: 100 Turkish Liras

Titles and total amounts of the abovementioned expenses are as follows:
• Printing Expenses: 130,00 Turkish Liras
• Financial Consultant Start-up Fee: 3.481,00 Turkish Liras
• Bank: 4,00 Turkish Liras
• Chamber of Commerce: 1.010,00 Turkish Liras
• Tax Office Expenses: 22,68 Turkish Liras
• Notary Public Expenses: 1.142,00 Turkish Liras
TOTAL: 5.789,68 Turkish Liras

Note:
• Capital blockage amount is not included in cost.
• Please add average 300 Turkish Liras for each additional partner and 500 Turkish Liras for each additional manager.
• Total amount may change slightly according to the total number of words in the articles of association.
• Cash register is not included since the business is wholesale (Average 500 Turkish Liras).

Please contact us for more information about Limited company start-up expenses.

Expenses after the company is established are as follows. We cannot indicate prices for these items, prices will vary according to the business volume of the company.
• VAT each month
• Insurance premium each month, if you have an employee
• BAĞKUR premium each month for managers
• Withholding tax in every three months
• Temporary tax in every three months
• Annual Corporate Tax
• Annual legal book certification
• Annual legal book closing certification
• Annual trade chamber membership fees
• Municipal taxes
• Financial consultant fee each month

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