Lots of entrepreneurs around the world thinks that Turkey is a great place to immigrate. However, all foreigners may have some requirements when the relocate to new country. They need to afford their living costs, they may wish to find a place to live basically they want to create a new life in the country where they hope new life.
In this post we will talk about some basic requirements after immigration to Turkey. Please consider those as the most simple requirements to live in a foreign country. Surely, after you settle down in Turkey your needs may increase and you may demand further options.
Bank Account Opening in Turkey
Either company bank account opening in Turkey or personal bank account opening in Turkey may require some formalities. It is far more difficult for foreigners compared to people in Turkey. Foreigners at first will either new residence permit in Turkey or at least potential tax number to initiate the bank account opening process. Please keep in mind that each bank in Turkey may require different documents or conditions to open a bank account for a foreigner. Therefore, we suggest you well research before taking action.
Company Formation in Turkey
Some immigrants come to Turkey to do business. To do a legitimate business a person must have a registered company in Turkey. For opening a company in Turkey we suggest you obtain professional service. Since, it is even not an easy process for local Turkish people. Opening a company in Turkey though completely free for foreigners the formalities might be difficult to fulfill. Types of companies in Turkey, shareholding structure of the company and the capital are important elements do determine. Before setting up a company in Turkey we advise you to discuss field of the activity with the relevant expert as well. Because some types of business can only be done by local Turkish people. Also, you will need a legal address in Turkey to register your company. Such address can either be real address or virtual office. Furthermore, the company accounts must be kept by an official accountant after the company in Turkey is active.
Residence Permit İn Turkey
Some foreigners only come Turkey for a short term to discover the potentials of Turkey. Residence permit in Turkey is the best option for those people who are not sure about their long term plans. Ther are certain types of residence permit application in Turkey. However, the most common one is residence permit for touristic purposes. Though the name of permission is touristic the applicants must provide certain documents to the relevant authority. One of the most important and difficult part of those documents are proof of residency. Such documents also need to be notarized by notary public in Turkey to be usable. Since the order of the documents and their sufficiency is quite crucial it is better to seek professional advice. Otherwise your application for residence permit in Turkey might be rejected.
For some countries residence permit in Turkey can be renewable for some other it is not.Therefore, before making the application we advise you to make this point clear.
Conclusion
In this post we explained three important elements for living in Turkey as a foreigner. These are, opening a bank account in Turkey, residence permit in Turkey and opening a company in Turkey. Each are independent process from each other. However, a foreigner whom planning to live in Turkey may require all or some of them. We advise you to follow the legitimate options while living in a foreign country. If you stay or work illegally in a country you may face some serious penalties.
