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Sema Özbek Yay : Turkey

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  1. Discovery Investment LOANS

    I have been trying to get a loan for some time now due to the large sum amount of the money to expand my business in Canada but i was unable to get a loan due to my credit score All other corporation/bank turned me down.Till i was introduced by start up overseas to Discovery Investment LOANS and i was able to get a loan from them without any delay. So i am using this opportunity to inform

    Total Posts: 1 Last post by halcyonnhadley

  2. Discovery Investment LOANS

    I have been trying to get a loan for some time now due to the large sum amount of the money to expand my business in Canada but i was unable to get a loan due to my credit score All other corporation/bank turned me down.Till i was introduced by start up overseas to Discovery Investment LOANS and i was able to get a loan from them without any delay. So i am using this opportunity to inform

    Total Posts: 1 Last post by halcyonnhadley

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Ask the Experts: Sema Özbek Yay

Turkey Accounting Expert

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Sema Özbek Yay

Turkey Accounting Expert

Sema has been helping International entrepreneurs to set-up new business within Turkey for the last 15 years. With an educational & working knowledge of Turkish systems, Sema's company Ozbek Independent Audit and CPA Inc & Ozbek Employment and Consultancy Inc are able to offer the services as below ;




Accounting & Financial Management Services

Bookkeeping, Financial Consultancy and Reporting, Tax Consulting (tax compromises, tax opinion), Independent Auditing

Business Start-Up Services

Company Establishment; Joint Stock, Limited Liability, Branch Office, Liaison Office...etc

Human Resources

Payroll, Resident Permit, Work Permit,opening bank account

Management Consulting Services

Director Appointment, Change of Registered Address, Capital Increase & Decrease

Legal Services

Trade Law (Joint Stock, Limited Liability, Branch Office, Liaison Office) Labour Law, Tax Law

Ozbek Independent Audit and CPA Inc &Ozbek Employment and Consultancy Inc 's portfolio of clients is 95% international.

Sema was graduated as an economist who worked in the finance and accounting industry ,she has over 24 years of experience and in 2002 she set up her own company Ozbek Independent Audit and CPA Inc & Ozbek Employment and Consultancy Inc. She has also worked as an executive board member at İstanbul tax and accounting association. Over the past 15 years, Sema and her team have successfully assisted more than 500 companies from all around the World to run their business and to market their products in Turkey. Since forming Ozbek Independent Audit and CPA Inc &Ozbek Employment and Consultancy Inc as founder/manager in 2002, she has been supporting and consulting investors during their process of business expansion towards the greater İstanbul region(Turkey) . Sema is fluent in Turkish and English. Sema seeking a solution to a challenge and looking to add value in each client engagement.

www.ozbekcpa.com

00 90 212 356 80 00

  1. Find clarification below; Company type; LLC Please can you clarify the following statement you wrote " .Partners can apply for a work permit as the shareholder of the company, however if a partner likes to apply for a work permit then the capital is minimum 100,000.-TL and must be paid in full" Do you mean that if any of the shareholders or if the two of us decides to apply for work permit that instead of the company's minimum share capital being 10,000 that it has to be increased to 100,000 TL? Also where is this money to be paid (100,000 TL) in our bank account? Can we trade or access this money for business? We do not have a registered office address in Turkey. Can you provide your charges for the virtual office if that is an option. The proposed company name is Agro News & Investments Nig Ltd. This is already the name we are using in Nigeria. We will be registering four shareholders. Is it ok if only one person is around in Turkey during the company registration? Please send cost of your fees and service charge inclusive of the work permit processing. Looking forward to your response. Warm Regards, Chika Emmanuel Okeke Question from Emmanuel Okeke on 05/06/2018

    Sema says:

    Dear Mr. Chika Okeke,

    Firstly of all can you please contact us through email mustafa@ozbekcpa.com ,

    Regarding your questions; yes you need to have at least 100.000 TL share capital in the company to get work permit for a shareholder. The capital must be deposited in the company bank account, after capital is registered at chmaber of commerce you can use in your trade that money surely, you do not need to keep the amount there in the account.
    Basically one of the shareholder do not have to come to Turkey, we can manage the company formation by PoA. However after company registration it would be better if company director comes to Turkey for tax office registration, because we will nee other necessary documents for tax office registration

    Regardsing the fee stuructures for LLC establishment and work permit pleae contact us or share your email address to have direct communication.

    Looking forward to hear from you,

    Best Regards,

    Mustafa İmat

    +90 212 356 80 00

  2. Hi Sema, We are interested in setting up a new business and office in Turkey for sesame seed trading and import into Turkey. Our company - Agro News Nigeria is into agro commodities farming, sourcing and trading in Nigeria. We will be needing your services to register our business in Turkey Question from Emmanuel Okeke on 04/06/2018

    Sema says:

    Dear Sir/Madam ,

    Thank you very much for being interested in our company. I can provide some brief details about the company establishment in Turkey but I will need more information in order to provide a quotation for you. As ÖZBEK CPA, we would be pleased to provide our services for you.

    If you could let me know which company type you would like to establish and answer the questions at the below I would be grateful .

    The legal forms of company as below;


    Limited Liability Company(LLC)
    Joint Stock Company
    Sole trader
    Branch Office
    Liaison Office


    I would like to give the detail of LLC since it is the most common type in Turkey
    Limited Liability Company :
    Limited liability company that can be opened by only one shareholder and one director, who can also be foreign citizens. At least one shareholder (legal entity or natural person) needs to be appointed as company manager .in case the sole shareholder of Turkish company is a legal entity then the legal entity needs to be director and a natural person needs to be assigned as the representative of the legal entity company director. Minimum capital requirement is 10.000 TL .Partners can apply for a work permit as the shareholder of the company, however if a partner likes to apply for a work permit then the capital is minimum 100,000.-TL and must be paid in full.

    Establishing an LLC generally requires 7 days preparation after we get all the documents from your side. I also get the documents that you send to us translated and notarized. If the partners don't have a Turkish Tax ID, we need to obtain Tax ID's for each partner.

    *A registered office addres is required for formation of a LLC (There is an option that you can use virtual office)

    *In order to be able to start process ,we need required information as company name, details of directors and shareholders of company and registered office address.

    Firstly We need a company name, please inform a name to me then we will check it if it is workable or not, so that we will add some legally required title into company name . Please share if there will being in additional activites done by your company herewith we can prepare certificate of Assocation.

    How much will be the capital?

    Shareholder of company will be the only one person / more persons or legal entity? How many share holders will be ? Will they be travelling to Turkey during the establishment procedures ( It is not a compulsory requirement .I just need to know this in order to provide you the approx . expense figure. ) This is important to be able to submit our proposal since expenses change depends on this information .

    Best regards
    ÖZBEK CPA

  3. Hi Sema, My name is Peter and I work for a small startup here in Austin Texas. We are currently looking into expanding into the market for sUAS operations in Turkey with one of our clients and have just started looking into the logistics of doing this. While the rules and regulations look to be quite strict, I was wondering if you could provide any insight into how we best go about expanding into Turkey. Let me know if you have any questions about what we are trying to do, etc Thank You Question from peter Sanderson on 21/11/2017

    Sema says:

    Dear Peter,

    Thank you very much for your email and I apologize you for the late answer since we had some problems in logging in our account.

    The best way to expand in Turkey is to open a company preferably limited liability company which requires minimum one shareholder and director with 10.000 Tl share capital, also foreigners can be shareholder and director at LLC. Please for the further details and communication I kindly ask you to address mustafa@ozbekcpa.com or let me know your email address.

    Looking forward to hear from you, Thanks Mustafa İmat

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