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The process in Turkey of increasing the minimum wage in Turkey in 2024 has concluded, as announced by Minister of Labor and Social Security Vedat Işıkhan. Following a meeting in Ankara with workers and employers convened by President Erdoğan, Minister Işıkhan addressed the media, stating, “In July, the net minimum wage stood at 11,402 liras.…
Establishing a sole proprietorship in Turkey involves several steps. Here is a guide on how to register a sole proprietorship in Turkey. 0 Steps to establish a sole proprietorship in Turkey 1. Determine Your Business Activity First, decide on the type of business activity you intend to pursue as a sole proprietor. Ensure that your…
Cooperatives in Turkey are legal entities formed by individuals or legal entities (including businesses and associations) who come together voluntarily to collectively address their economic, social, or cultural needs and aspirations. Cooperatives in Turkey are regulated by the Turkish Cooperative Law, which provides a framework for their establishment and operation. Here are some key features…
In Turkey, a Partnership Limited by Shares (Komandit Anonim Şirket or K.A.Ş.) is a business entity that combines elements of both limited liability companies (Anonim Şirket or A.Ş.) and limited partnerships (Komandit Şirket or K.S.). This unique form of company allows for a flexible business structure where certain partners have limited liability (shareholders) while others…
In Turkey, a Simple Commandite Company (Kollektif Şirket) is a type of partnership structure that combines elements of both general partnerships (Kollektif Şirket) and limited partnerships (Komandit Şirket). A Simple Commandite Company in Turkey is a business entity formed by two or more individuals or legal entities (natural persons or corporations) who come together to…
Running a Limited Liability Company (LLC) in Turkey comes with various financial responsibilities, one of which is managing payroll taxes. Payroll taxes are a crucial part of every business’s financial obligations, as they contribute to social security and other government programs. This article provides an overview of payroll tax rates, conditions, and definitions specific to…
The decision of how many employees it is profitable to employ when creating a company in Turkey depends on several factors, including your business model, industry, long-term goals, and financial resources. There is no one-size-fits-all answer, but here are some considerations: Type of Business If your business in Turkey requires a physical presence, such as…
Creating a formal business entity in Turkey for just one employee is not necessary in all cases. The decision to establish a business entity depends on various factors, including the nature of the work, your long-term goals, and your compliance preferences. Here are some options to consider: Employer of Record (EOR) Services in Turkey If…
No, it is not obligatory to create a company in Turkey to recruit a Turkish employee. There are alternative methods for employing Turkish employee without establishing a company in the country. Here are a couple of options: While it’s not obligatory to create a company in to hire Turkish employees, the specific approach you choose…
Expanding your business to international markets can be an exciting endeavor, but it also involves making critical decisions regarding the best approach to establish your presence in a new country. When considering entering the Turkish market, two common strategies are to use Employer of Record (EOR) services or create a Turkish subsidiary. In this article,…
