FAQ

I. International Standards “Foreign direct investment” and “Foreign investor” terms are defined within international standards inorder to clarify the field of application of the Foreign Direct Investment Law. Within this scope:a) Foreign Investor is defined as :

Setting up a company in Turkey by following basic steps; 1- Power of Attorney for the forming of the company.2- Approval of the companies name from Commercial Registration Office3- Obtaining personal tax numbers for each of the shareholders4- Obtaining circular letter from the notary public for the share holders

Turkey requires for imports of second hand goods – old, used or renovated – an import license. . According to Article 7 of the Turkish import regime, the importation of old, used, renovated, faulty and obsolete goods is subject to permission by the Under-secretariat for Foreign Trade. Some second hand …

Foreigners who intend to work in Turkey as an employer, employee, freelancer, or as an official, are required to declare this circumstance at least 15 days before the start of their work and have it registered in the Ikamet Tezkeresi (Residence Permit) Foreigners are required to submit their ID card, …

Turkey has been implementing an export-oriented strategy since 1980. The basic objective of this strategy is to constitute an outward oriented economic structure in the framework of free market economy and to be integrated with world markets. With this new strategy, export intensive measures consisting of various supportive components, arrangements …

The tax system in Turkey is progressive. -In other words, the higher your income, the higher the rate at which you will pay tax. -The 2010 individual tax rates vary from 15% – 35%. -in 2010 the standard rate of Turkey corporate tax is 20%.

According tothe Labor LawNo. 4857,weeklyworking hour regulation is appliedas45 hours. If weeklyworkinghours exceed45hours(except when Article 63of the lawon the basisofthe principle ofequalization is applied), it is considered asovertime. The worker who exceeds the 45 hours of weekly working ceiling,  will be entitled to earn 50% of normalhourlywageforeach extra hour.

A business with employees must file a business declaration with a business declaration form accompanied by other required documents at the latest on the date when insured workers are employed. An employer who has taken over a business with insured employees must file a business declaration at the latest in …

An employee who works full time for six days shall be allowed to take a rest for a minimum of twenty-four hours (weekly rest day) without interruption within a seven-day period. For the unworked rest day, the employer shall pay the employee’s daily wage, without any work obligation in return.

The tariff applied in 2010 related to taxation of fees was rearranged with law dated August 1, 2010 and numbered 6009 in a manner to be executed as month of January. With the amendment, tax in rate of 35% will be withheld from the fee incomes above TL 50000 and …