Entrepreneurship in Turkey is one of the issues that are taken into consideration for obtaining a residence permit in Turkey and it has its own conditions and points.

The capital of Turkey is Ankara, a country part of which is located in the continent of Europe and the other part is in Asia.

That is why Turkey aspires to become a member of the European Union.

As a result, the Turkish government is trying to pass the country through the development process as quickly as possible.

It is worth noting that one of the ways to obtain a residence permit in Turkey is entrepreneurship.

Today, immigration to Turkey has become very easy through investment, and many people have been able to obtain Turkish citizenship in this way. Of course, this method of migration has its own circumstances and difficulties.

Below we will discuss the terms and characteristics of entrepreneurship in Turkey.

Previously, the Turkish Immigration Service had strict rules for immigration to Turkey. Even few people were willing to settle in Turkey through investment and other ways.

But in recent years, the rules and conditions for immigration to Turkey have become much easier with the major changes to laws by the Turkish Immigration Service.

Today, immigration to Turkey by investment is one of the first priorities for qualified people.

The importance of entrepreneurship in Turkey in recent years

The Turkish government strongly supports entrepreneurship and entrepreneurs in this country, from offering a special residence visa to tax cuts.

Foreign applicants also have two options for entrepreneurship and a positive impact on the Turkish national economy.

They can either work in their own name and pay taxes as defined by Turkish law, or they can establish a company in Turkey.

It is often said that quality is sacrificed for quantity in job creation processes in countries with developing economies.

This means that the reported increase in jobs is actually an increase in the number of low-paid service jobs. Such criticism was directed at Turkey, especially after the global crisis.

However, the success of the Turkish government in creating jobs in recent years cannot be underestimated.

In the past few years, the quality of jobs created and the level of income also improved, for various reasons, including the following:

• Geographical locations of a number of occupations
• Gender and age of employees and workers

The cost of creating a new job in Turkey

The cost of living and even entrepreneurship in Turkey is much lower than in many other countries, including Hungary, Austria, Germany and France.

At the same time, Turkey has a much stronger economy than other neighboring countries, such as Turkmenistan, Azerbaijan and Armenia.

So by investing in this country, people have a chance to achieve profitability more easily and more quickly.

Of course our suggestion to you is that you live in this country for a while first in order to be more aware of the situation in Turkey and choose the area you want to work in and even the city you want.

In this way, you can finally get a better and more profitable option.

Keep in mind that in order to stay in Turkey, you, as a foreigner, must apply for a residence permit.

Types of Entrepreneurship in Turkey

Entrepreneurship in Turkey, with good and developed economic conditions in Turkey, does not have simple conditions.

The applicants must apply for a residence permit in Turkey by submitting various documents to the Turkish Immigration Office.

But if this goal is achieved, it can be very profitable.

Types of entrepreneurship in Turkey include:

Registering a joint stock company

Joint stock companies are divided into two categories: a public joint stock company and a private joint stock company.

These types of companies require a capital of about 2,800 US dollars.

Entrepreneurs must inform the Turkish Immigration Department of the type of company before starting the registration process.

The number of investors in a joint-stock company must not be less than 5, and there is no limit to their number.

According to the laws in force in Turkey, in the general assembly of these companies, there must be persons from the Turkish Ministry of Commerce.

Limited Liability Company Registration

Entrepreneurs can obtain a residence permit in Turkey by registering a limited liability company.

In limited liability companies, the number of shareholders must be between 1 and 50 people.

These types of companies can be established in the presence of only one person and their starting capital requirement is around 10 thousand TL. There are no other restrictions on this method of registering a company in Turkey.

A group or joint project

In a joint venture company, one or two of the shareholders are responsible for the company’s performance and losses.

But other shareholders are only responsible for their shares and the capital they have invested.

Cooperative company

Another type of company in Turkey is the cooperative company. In this company, the shareholders must be at least two people.

All shareholders and capitalists are responsible for paying the company’s debts and loans.

Registration of companies in free zones in Turkey

People who have the ability to produce certain goods can start a company and a business by purchasing real estate or land to start a business in the areas given to them by the commercial management.

Applicants for entrepreneurship in Turkey can also use the appropriate banking facilities by setting up such companies.

Company registration process in Turkey

As we mentioned, registering a company in Turkey is not easy, but qualified people with good follow-up and information can start their business in Turkey in the shortest possible time.

In the beginning, it is better to get a visa and a short-term residence permit so that you can complete the company registration process in Turkey without any restrictions or pressures.

Steps to register a company in Turkey

• Submit the documents and attestation of the main shareholders to the Turkish Consulate.
• Providing the specific financial means for registering a company in Turkey.
• Presenting the scope of work and business specifications of the company.
• Obtain a tax number.
• Provide the company’s address.
• Employing and introducing a Turkish accountant and consultant with a salary of no less than $200.

Requirements for registering a company in Turkey

• Photograph.
• Passport.
• The name of the company.
• The scope of the company’s activity.
• Determining the share of each shareholder.
• Appointment of the CEO.
• Zip code and company address.
• A capital of not less than 15,000 liras.

It is worth noting that during the company registration process in Turkey, the presence of the CEO in Turkey is mandatory and he must be present at the immigration and company registration offices to implement each stage.

The period of company registration in Turkey is from 4 to 5 days, after which there is no need for the continuous presence of the company’s shareholders.

Company registration fees in Turkey

As we mentioned, by registering a company and starting an entrepreneurship in Turkey, you can obtain a work permit in Turkey.

Turkey has better economic status and prosperity than similar countries and could become one of the largest economies in Asia in the coming years.

However, there is a much lower cost of registering a company, and people can start an active and profitable business in Turkey with minimal cost.

Indicators affecting entrepreneurship and investment in Turkey

One of the most important things that applicants should consider regarding entrepreneurship in Turkey and investing in this country are the economic indicators that affect the investment and entrepreneurship process in this country.

Among the important indicators in this field are the unemployment rate, GDP and tax rates in this country.

The first indicator that affects the attractiveness of investors in a country is the unemployment rate in a country, as the unemployment rate in Turkey is close to 12%.

The size of the GDP also has many effects on investment in a country and actually reflects the dynamism and economic growth of the country.

Another major indicator that affects entrepreneurship and investment in Turkey is the tax rate.

The tax rate in Turkey was around 33% in the past several years and then decreased to 20%, and in 2019 this rate reached 22%.

How to start a business in Turkey

As mentioned, applicants who are entrepreneurs in Turkey must register a company in this country to start a business and start their own business.

The first step in starting a business and registering a company in Turkey is to provide tax and identity documents for the person and his partners according to the type of company.

The applicant must also prove his financial ability to start a business and entrepreneurship in Turkey, in addition to providing for himself and his family, by submitting a bank statement.

According to the type of company, the articles of association of the company must be prepared and the type of company’s activity in it should be determined.

The applicant must also apply to the Turkish Treasury to obtain a tax number, and after locating the company and referring to the inspectors of the Finance Department to verify the location, the company’s address is registered.

After completing these steps, by referring to the Turkish Chamber of Commerce, the company is registered and the announcement of its establishment is published in the official newspapers.

A bank account must also be opened in the name of the company and a person must be identified as a chartered accountant or financial advisor to the company.

Frequently Asked Questions

What is the best way to become an entrepreneur in Turkey?

The best way to start entrepreneurship in Turkey is to register a company.

What is the minimum capital required to register a company in Turkey?

The minimum capital required to register a company in Turkey is approximately 10 thousand Turkish liras.

After how many years can entrepreneurs in Turkey obtain permanent residence in Turkey?

Entrepreneurship applicants in Turkey, after 5 years of starting their work and working in this country, succeed in obtaining permanent residence in Turkey.

Is it necessary to submit a business plan to register a company in Turkey?

Yes, in order to register a company in Turkey, a business plan must be submitted.

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Istanbul is the tourist city and cultural capital of Turkey, which is also located between the Asian and European continents.

Every year, a large number of tourists travel to this city, and it is obvious that when you travel to Turkey, we have to convert your money into Turkish lira.

But sometimes the question is whether you should bring the Turkish lira or the dollar with you when you visit Turkey.

It is better to take into account the fluctuations that all countries’ currencies are exposed to against the dollar.

So When you go to Turkey, try to take the dollar with you.

And then when you arrive in Turkey, go to the exchange offices in that country and convert it into Turkish lira.

The question that arises is where to find a reliable exchange office in the vast city of Istanbul?

So in this article we want to introduce you to the best reputable and reliable exchange offices in Istanbul.

Where are the money changers in Istanbul?

When you walk in the streets of Istanbul, you will inevitably see currency exchange offices with the word “Doviz”.

Like all other major cities in the world, the best places to exchange currency are in crowded areas.

Therefore, in Istanbul, the best exchange offices are located in the famous neighborhoods such as the Grand Bazaar, Sultanahmet, Sisli, Taksim and Istiklal Street.

In Turkey, post offices also offer currency exchange services in dollars, euros and pounds sterling.

Additionally, if you have a check, you can convert it to another currency for a 9% fee.

This traveller’s check fee rate is the same at all other exchange offices in the city.

Note!

Do not rush to convert your currency at all, first go to a few exchange offices in this city and sell your dollars after you get a glimpse of the rates.

Exchange offices located in the famous neighborhoods of Istanbul

Exchange offices in the Grand Bazaar area

1- Doviz Merkezi

• Phone number: +902125204034
• Opening hours: Monday to Saturday from 8 to 18
• Address: Beyazıt Mh., Kesiciler Cd. 105-107, 34126 Fatih, Istanbul, Turkey

2- Kur Borsa Döviz

• Phone number: +902125112256
• Opening hours: Monday to Saturday 9 to 17
• Address: Molla Fenari Mahallesi, Çuhacı Han Sokak No 8, 34126 Fatih, Istanbul, Turkey

3- Haznedar Doviz

• Phone number: +902125142474
• Opening hours: Monday to Saturday 9 to 18
• Address: Mollafenari, Çuhacı Han Sk. No: 8, 34120 Fatih, Istanbul, Turkey

4- Gazi Doviz

• Phone number: +902125115868
• Opening hours: Monday to Saturday 9 to 18
• Address: Mollafenari, Ç. Nuruosmaniye Cd. No:28, 34000, Fatih, İstanbul, Turkey

5- Yazici Altin Doviz

• Phone number: +902125148282
• Opening hours: Monday to Friday from 9:00 to 18:00 and Saturday from 9:00 to 16:00
• Address: Kapali Çarsi Kavaflar Sk. No: 61 Beyazit, Istanbul, Turkey

Exchange offices in Sultanahmet area

1- Aydin Gold

• Phone number: +902125138698
• Opening hours: Monday to Sunday from 9 to 21
• Address: Divanyolu Caddesi Divan Center No:56/38, 34122, Fatih, Istanbul

2- Arkent Doviz

• Phone number: +902125204121
• Opening hours: Monday to Friday from 9 to 19
• Address: Sultanahmet Mh., Divan Yolu Cad. No:32, Fatih, Istanbul

3- Ser Kıymetli Madenler

• Phone number: +902125229303
• Opening hours: Monday to Friday from 7 to 17
• Address: Molla Fenari Mh. Şeref Efendi Sk. Şener Center No:28/5 Nurosmaniye, 34120, Fatih, Istanbul

4- Dadas Doviz

• Phone number: +902125145958
• Opening hours: Monday to Saturday from 8 to 18
• Address: Mollafenari, Vezirhan Cd. No:36, 34120, Fatih, Istanbul

5- Agaoglu Doviz

• Phone number: +902126381717
• Opening hours: Monday to Saturday 9 to 18
• Address: Yeniçeriler Caddesi No: 25-b Beyazit, Istanbul

Exchange offices in the Egyptian Bazaar area

1- Muteber Doviz

• Phone number: +902125221212
• Opening hours: Monday to Saturday 9 to 18
• Address: Hamidiye Cad. Doğubank İş Hanı No:29 D:33, Fatih, İstanbul

2- Angun Doviz

• Phone number: +9021252211111
• Opening hours: Monday to Saturday 9 to 19
• Address: Hobiyar Mh. Yenicami Cd. 2/1 Sultanahmet Meydanı Eminönü, 34112 Fatih, İstanbul

3- Zeki Doviz

• Phone number: +902125203232
• Opening hours: Monday to Saturday 9 to 19
• Address: Sabuncu Hanı Sokak, Tahtakale, 34116, Fatih, İstanbul

4- Narin Doviz

• Phone number: +902125284980
• Opening hours: Monday to Saturday 9 to 19
• Address: Sabuncu Hanı Sokak, Tahtakale, 34116, Fatih, İstanbul

Exchange offices in Taksim and Istiklal Street

Taksim Square, which is one of the most famous tourist attractions in the city and contains a large number of exchange offices in Istanbul.

There are many hotels and restaurants in this area and many exchange offices are located at the end of Istiklal Street and near Taksim Square.

1- Ye-Ye Doviz

• Phone number: +902122527358
• Opening hours: Monday to Saturday from 9 to 20
• Address: İstiklal Caddesi 131/B, Beyoğlu, Istanbul

2- Nizam Doviz

• Phone number: +902122526428
• Opening hours: Monday to Saturday from 9 to 18:30
• Address: Katip Mustafa Çelebi, İstiklal Cad. No:31, 34433, Beyoğlu, Istanbul

3- Cetin Doviz

• Phone number: +902122526428
• Opening hours: Monday to Saturday from 9 am to 7:30 pm
• Address: Katip Mustafa Çelebi, İstiklal Cad. No:31, 34433, Beyoğlu, Istanbul

4- Cozum Doviz

• Phone number: +902122446271
• Opening hours: Monday to Saturday 9 to 19
• Address: Katip Mustafa Çelebi, Meşelik Sk. No:1, 34433 Beyoğlu, Istanbul

5- Aral Doviz

• Phone number: +902125303554
• Opening hours: Monday to Saturday 9 to 18
• Address: Gümüşsuyu, Sıraselviler Cd. No:17, 34437, Beyoğlu, Istanbul

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Foreigners who intend to immigrate or invest in Turkey can open a bank account so that they can enjoy its various advantages.

In this article, we will provide comprehensive information about banking interests in Turkey and how to get them, interest tax on deposits, bank interest earnings, as well as a comparison of banking benefits for different Turkish banks, so stay tuned!

How do you get banking interests in Turkey?

In order to get a bank interest in Turkey, you must first open a bank account in one of the banks in this country.

You can open an account in Turkey in less than half an hour, and attendance in person when opening a bank account is mandatory in Turkey.

After the end of the agreed contract term with the bank in Turkey, it is possible to obtain bank interests in cash and non-cash.

In other words, you can request to transfer the interest to your bank account card, or receive it in cash by visiting the bank.

If you add your interest to your bank card, you can easily use it to make purchases from the internet, however some people who live in Turkey may prefer to get their earnings in cash.

Information about banking interests in Turkey

Banking interest is one of the safe ways for people who want to deposit their money in banks to invest in Turkey.

First, you should know that all public and private banks in Turkey are subject to the financial laws of the Central Bank of Turkey.

This means that in the event of any change in the rules, updates will be applied to all banks in Turkey.

In other words if the bank interest rate changes, this change will include all Banks in Turkey.

Another point worth noting is that short-term deposits are the fastest and most profitable in Turkey, so if you want to get your bank interest on a monthly basis, you can open a one-month deposit.

Bank interest rates in Turkey in 2020 decreased significantly compared to banking interest rates in 2019.

In recent years, Turkey was one of the countries that attracted a large amount of investors through bank deposits, and before some changes took place in 2020, the bank interest in Turkey was above 20%.

But in 2020, the Turkish government cut the bank interest rate sharply after 10 months of controversy, and the interest rate currently ranges between 10 to 15 percent.

The interest rate in Turkey varies according to the customer’s deposit amount, and in cases where the investment amount is high, the head of the bank branch can raise the interest rate.

The interest rate in Turkey on 3-month deposits is about 10%, and the longer the deposit period, the higher the amount, as the bank interest rate can reach 15%.

Types of bank interest in Turkey

Variable bank interest

The variable bank interest may vary based on the rate announced by the Central Bank of Turkey every month, for example in one month it may be 10% and in another month it may reach 13%.

Fixed bank interest

When obtaining fixed bank interest, a specific interest rate regulation will be set in your contract with the bank, which will be added to your deposit at the end of the contract period, the term of deposit and interest contracts for banks can be 3 months, 6 months or a year.

Note that there is no concept of daily earnings in Turkish banks, as banks do not pay interest on undeposited amounts.

How are bank interests calculated in Turkey?

If you intend to invest and profit from banks in Turkey, you should know how the bank interest is calculated in this country.

For example, suppose there is interest on a bank deposit of 8%, your minimum balance is taken into account, then the number obtained is multiplied by 8%, and the total is divided by 365 days.

Note that this number will be only in the event that you have not withdrawn funds from your account until the end of the contract.

If you withdraw funds from your account before the end of the term of the deposit agreement, the relevant bank has the right to reduce the bank interest from your account balance.

Comparison of bank interest earnings in different Turkish banks

You can use the following website to find out the banking interest rates in different Turkish banks and compare them with each other.

https://www.hesapkurdu.com/mevduat

All you have to do is enter the site, enter the amount you want to deposit and specify the deposit period, after that a table will be displayed containing several options for Turkish banks and the banking benefits for each of them.

Bank interest tax fees in Turkey

Tax laws in Turkey are very strict, and one of the prerequisites for opening a bank account in Turkey is to pay tax fees.

It is necessary to obtain a tax number when opening a bank account in Turkey in order to pay the bank interest tax fee to the tax office in Turkey.

The bank interest tax fee rate in Turkey in 2020 is about 3% to 10% of the gross profit.

Obtaining banking benefits for foreigners who do not have a residence permit in Turkey

If you are a foreign citizen of any country and you have not obtained permanent residence in Turkey, you will only be able to open an account at Ziraat Bank.

Ziraat Bank is one of the oldest and most prestigious banks in Turkey, the bank was founded in 1863 and is ranked 115th in the world.

In this bank, in addition to having a bank account in lira, you can also have a bank account in Dollar and Euro and get banking interest.

However, it is better to know that bank interest rates in Turkey are lower for euro and dollar accounts than for Turkish lira accounts.

Banking interest at Ziraat Bank in Turkey is determined based on the deposit method and the amount that the customer deposits in the bank.

For example, if you have a 3-month deposit in Ziraat Bank in Turkey, you will receive interest from 9 to 10 percent, and it should be noted that the longer your money stays in Ziraat Bank and you do not withdraw it, the more profit you will get.

Bank interest rates in Ziraat Bank in Turkey have decreased significantly with the changes that occurred in 2020.

The bank interest rate in Ziraat Bank in 2019 was about 20 to 24 percent annually, while in 2020 it decreased from 10 to 15 percent annually.

And about 3 to 10 percent of the gross profit rate is deducted as a tax fee annually.

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A virtual office is a corporate virtual workplace that allows business owners and employees to work outside a physical office via the Internet or mobile phone.

Virtual offices continue to expand with a new understanding of the company in the form of home office, shared office, standalone, and turnkey office.

People can easily do their work due to the various opportunities that these types of offices provide.

Virtual offices, which are increasingly being used today, save entrepreneurs from the cost of setting up a physical office and offer many benefits to their users.

With the change in working life, working conditions have also changed.

That is why large and small companies that want to set up a branch in Turkey prefer to set up virtual offices.

The easy and short process of setting up virtual offices is another factor that makes entrepreneurs choose this type of office for their activities.

People who do not need an office or people who travel a lot prefer virtual office services.

One of the main benefits of this type of office is the provision of an official address.

The virtual office also provides company and client meeting services in a high-quality location.

Many entrepreneurs, due to their activities outside the company, need to receive and send regular mail and answer customer calls.

Virtual offices make the most of these requests by their professional staff.

Virtual office services save entrepreneurs time and money.

International Virtual Office in Turkey

Turkey is a beautiful Eurasian country, part of which is located in Europe and the other part is in Asia.

But this beautiful country, not only for tourism, but also a link between Asian and European markets, which is an important point for those who want to establish a company in this country.

Foreign companies can operate in Turkey by opening branches or subsidiaries.

But it is better to test the capacity of the market first by opening an agency or virtual office.

In the first four months of 2020, 31,181 new companies were established in Turkey.

Most of these companies are known as small businesses in terms of the number of employees.

One of the most important issues for these companies is having a corporate address.

Virtual offices are a good option for people who want to work without attending the company and at the same time have a valid work address.

This important issue has become the focus of many new entrepreneurs today.

For example, people starting a new business need an address in order to operate legally. Virtual offices allow them to do this.

This address can be used to receive company correspondence and meet clients or business partners in Turkey.

Many foreign companies decide to set up a virtual office in Turkey, in order to bear lower costs for repairs and setup, or to be able to better study the market.

Steps to create a virtual office in Turkey

In the first step, you must determine the type of company you intend to start and choose the subject of your activity according to the type of company.

There are three types of companies in Turkey:

•  private companies
•  Limited companies
•  joint stock companies

People who are planning to start a company for the first time usually prefer private companies.

Companies that are incorporated by at least two people with a larger capital can be established as limited liability companies or joint stock companies.

The next steps are as follow:

• Registration in the Chamber of Commerce.
• Announcement of the virtual office address of the relevant tax office.
• If you plan to register a private company, you must also obtain a business ownership certificate from a notary public.

This certificate contains information such as the name and surname of the owner of the company and the address of the place of work. In joint stock companies and limited liability companies, an establishment permit must also be obtained from the competent ministry.

• Hire a financial advisor to create a virtual office lease and do the appropriate financing.
• Getting the tax number by the financial advisor from the competent tax office and the registration document from the Chamber of Commerce.
• After completing all the steps, the tax office inspectors visit the company and confirm the address of the company.

The cost of setting up a virtual office in Turkey

In physical offices, in addition to the cost of office rent, hidden costs can double the office rent.

But virtual offices save you a lot of money like infrastructure investments, security, cleaning, kitchen, secretary and monthly bills.

The average cost of renting a virtual office with standard services ranges between 300 and 400 liras per month.

Services provided by virtual offices

• Office secretary.
• Send and receive mail, letters and faxes.
• Answer customer calls.
• Provide an official address.
• Provide a real local phone number.
• If you need a meeting room, you can also use it by making a reservation. In the meeting room there are facilities like projector and TV and during the meeting you will enjoy unlimited catering, tea and coffee.

Disadvantages of creating a virtual office

• Difficulty in teamwork due to lack of physical presence in a shared environment.
• Lack of proper team management system.
• Lack of motivation to work in an office environment.
• Avoiding social activities.

Benefits of creating a virtual office

• Virtual offices cost less than regular offices.
• You don’t need to be in the office.
• You can schedule your appointments with clients in professional meeting rooms.
• By presenting your clients with the right business address, you will create a professional image of yourself.
• You will meet professional business owners and be able to partner with them, provide or receive services from them.

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Many people who settle and immigrate to Turkey may need multiple loans to finance different activities such as starting a business or buying real estate.

In this article, we will explain how to get a loan in Turkey, its terms and what are the facilities offered to foreign nationals, so stay with us.

Getting a loan in Turkey

People with foreign citizenship can apply for a loan in Turkey to buy a house, start a business, or meet some of their needs.

Previously, there were many obstacles for foreigners applying for bank loans, but since 2007, the Turkish government has put in place laws supporting foreign investment, allowing foreign nationals in Turkey to easily obtain a bank loan.

One of the most important terms for obtaining a bank loan in Turkey is to prove the financial ability of the borrower, as the repayment of your monthly loan should not exceed 45% of your monthly income.

Note that rental income from private property is not taken into account when calculating the income and financial capacity of an individual who wants to obtain a bank loan.

The interest rate on bank loans in Turkey has been set from 8% to 13%, and the loan repayment period ranges between 10 and 15 years.

But the repayment period has age conditions, where the age of the recipient must be less than 80 years at the end of the term.

In other words, you must be approximately between 25 and 70 years old when you get a loan in Turkey, and almost all foreign nationals can get a loan in Turkey at a fixed rate to repay it.

Real estate loans in Turkey

Buying ready to move property in Turkey

The Turkish real estate market has been an active market that attracts the attention of many foreign investors.

When deciding to buy a property in Turkey, financing is the first thing to consider, suppose you decide to buy a ready to move property in Turkey but you do not have the full price, in this case, you can apply for a loan in Turkey so that you can buy it.

Due to the increase in the number of immigrants and foreign nationals living in Turkey, if certain conditions are met, Turkish banks will provide loans to foreigners who want to get real estate loans, in order to attract foreign investors and encourage them to buy real estate in Turkey.

First, you need to know which banks can lend to foreigners in Turkey, then you must determine the value of the property and the amount of money you need to borrow.

But note that most banks in Turkey will lend you between 50% and 70% of the value of the property you intend to buy.

However, few financial institutions lend larger percentages, and some limit the value of loans to 65% of the property value.

The minimum loan amount is usually around $75,000, and this amount varies depending on the bank and the value of the property you intend to purchase.

After about 3 to 4 days of submitting the required documents, the applicant will get the “initial approval” and the bank will send a specialized employee to evaluate the purchased property. 

After the experts’ assessment, the “mortgage” is approved and the applicant can submit a request to transfer the title deed.

Buying an under construction property in Turkey

In addition to what we mentioned above, there are other ways that can replace the purchase of a ready-made property in Turkey, for example you can buy a property under construction in this country.

In the process of buying real estate under construction in Turkey, the buyer pays only 20% to 30% of the property value as a down payment and the rest is paid in installments according to the project schedule and in agreement with the project owner.

In this way, there is no need to pay interest on bank loans and this is a great advantage, and the title deed document is signed in the name of the customer after full settlement of the payment terms.

But note that if you want to get a bank loan to buy a property under construction in Turkey, it must be after about 90% of the construction of the project is completed.

If you are planning to buy a house or apartment in Turkey, you can contact our real estate consultants to get the best possible offer and advice.

We will accompany you during the process of buying a property in Turkey, until you obtain Turkish residency or citizenship.

Conditions for applying for a loan for foreigners in Turkey

• Obtaining a work permit in Turkey.
• Obtaining residence in Turkey.
• A guarantor holding Turkish citizenship.
• Proof of ability to pay loan installments (salary statement for the last 3 months).
• Cash deposit in a Turkish bank. (Read about opening a bank account in Turkey)

The applicant must submit the loan application directly to the bank or appoint a lawyer/person in Turkey to sign the loan agreement.

One of the prerequisites for obtaining a loan for a foreign citizen in Turkey is to obtain a work permit and a residence permit, so you cannot get a loan without working in Turkey.

However, in some limited cases, you can apply for a loan in Turkey by sending a financial statement of your bank account in your country of origin to the bank in Turkey.

Types of loans and documents required to obtain a loan in Turkey

The documents in each of the above cases may differ depending on the bank or the current circumstances, and more documents may be requested,

For this reason it is better to check the list of required documents from the official website of the bank.

Documents issued outside Turkey must be certified and stamped by the authorized authorities in the source country.

Documents must also be translated by Turkish translators and their translation must be certified by the notary.

What are the Turkish banks lending to foreigners?

Among the banks and financial institutions operating in Turkey, the following banks lend to foreign nationals under certain conditions:

• Ziraat Bankası
• Vakıfbank
• İş Bankası
• Garanti Bankası
• QNB
• Akbank
• Halkbank

In addition to the above mentioned Turkish banks, almost all foreign banks located in Turkey lend to foreign nationals.

Frequently Asked Questions

What are the loans granted to foreigners in Turkey?

According to Turkish law, foreigners in Turkey can apply for a consumer loan, a car loan, or a property purchase loan in Turkish banks.

What is the interest rate on bank loans in Turkey?

Interest rates on bank loans in Turkey range from 8% to 13%.

Can unemployed foreigners get a loan in Turkey?

No, it will be possible to obtain loans for unemployed foreign nationals, only in special cases that have been fully covered in the previous sections.

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Due to its privileged location between the European and Asian continents, Turkey is a good destination for people who want to work abroad to earn more money.

Working in Turkey is a great opportunity for people who want to establish new business relationships due to the trade and economic openness of this country.

Looking for work in Turkey and working in this country requires a Turkish work visa.

So if you are not familiar with how to get a work visa in Turkey and find a job in Istanbul and other provinces of this country, follow this article to the end.

General description of work visa in Turkey

In order for a work permit to be issued in Turkey, you must submit your application to the Turkish consulate or embassy in your country.

You must also apply for a work permit at the Turkish Ministry of Family, Labor and Social Services at the same time.

Work visas in Turkey are usually issued on a six-month basis.

However, after three months of residence in Turkey, you must apply to the General Directorate of Immigration of Turkey and apply for a short-term residence permit.

After that, the duration of the work permit in Turkey will be increased to about one year.

But after one year you can extend it to two or three years.

After living and working in Turkey for eight consecutive years, you can apply for a permanent work permit. This license does not need to be renewed.

Types of work permits in Turkey

Depending on the type of residence of the foreign worker in Turkey, there are two different ways to obtain a work permit:

Foreign workers with a valid residence permit: This permit can be issued in the form of tourist visas, medical treatment, sports activities and the like.
This permit must be valid for at least 6 months.

Important note: People who have a residence permit for educational purposes cannot use this facility and must apply directly to the Turkish Ministry of Labor.

If the foreigner does not have a valid residence permit: he/she must go to the Turkish Consulate and obtain a valid permit.

Conditions for obtaining a work visa in Turkey

The process of applying for a work visa in Turkey is slightly different from the process of applying for other visas to enter this country.

Because in this process, you are not the only person involved in the matter, the employer should also participate in the process and provide employment documents and other necessary documents when needed.

Important Note: You must have received a job offer or a work contract from an employer in Turkey before applying for a work permit in Turkey.

Without a specific job offer in Turkey, you cannot start the process of obtaining a Turkish work visa.

Eligibility for a work visa in Turkey depends on your goal of finding a job in Istanbul or other provinces in the country.

In other words, these conditions depend on the job title you are applying for in that country.

For example, you can enter Turkey as an entrepreneur with the aim of investing and creating jobs.

Also, other job titles such as university lecturer, athlete, artist, free zone worker, journalist and repairman can be other job objectives for working in Turkey for which you can apply for a visa.

Once you have decided on the job title you want to apply for, you can apply online and answer questions about your personal information and travel goals.

After you submit your online application, you will receive an appointment for an interview.

When you come to the embassy for an interview, you must have these documents with you:

• Completed Turkish work visa application form.
• A passport valid for at least six months after arrival in Turkey.
• Two personal photos.
• A certificate of no criminal record proving that you are not wanted or have had no legal problems in the past.
• The job offer in which you must specify the position, the monthly salary and the period of validity of your contract.
• Translator diploma or translation of a temporary graduation certificate.
• A certificate equivalent to a diploma or a temporary graduation degree that must be equivalent to a foreign higher education institution.
• insurance.
• Proof of residence in Turkey, including a rental contract or a property purchase contract in Turkey.
• Financial evidence to be submitted at the request of the Turkish authorities. In this guide, you must have proof that you have at least 50 euros for each day you want to stay in Turkey.

What are the steps to apply for a work visa in Turkey?

Once you have completed the job search process in Turkey and received a job offer from the employer, you must apply for a work visa in Turkey.

You can apply for a work permit in Turkey two months before you leave Turkey. However, this period should not be less than a month before departure.

After applying for a work visa in Turkey, the employer has 10 days to submit the necessary documents as employment documents to the Turkish Ministry of Family, Labor and Social Services (MLSS).

Warning: If the employer does not submit the required documents in time, your application will be rejected due to incomplete documents.

Therefore, you should coordinate with your employer at all stages.

On the day of the interview, you should be at the embassy or consulate on time and make sure you bring all your documents with you.

When you visit the Turkish Embassy for an interview, you must notify your employer so that they can manage the time of application.

An interview is actually a short meeting with an officer at the consulate, where you will be asked about the job offer you received and your work history.

After the interview, the employer must submit additional documents to the Turkish Ministry of Labor and Social Security within ten working days of your application.

Important note: In the end, it is the Turkish Ministry of Family, Labor and Social Services that decides whether you are allowed to work in Turkey or not.

If the application is approved, the work permit in Turkey will be equivalent to the residence permit in that country.

For this reason, in addition to the cost of the visa, you must also pay for a work and residence permit in this country.

After your application is confirmed, you have a maximum of 180 days to enter Turkey.

When you arrive in Turkey, you must register with the Turkish Address Registration System within one month of your arrival.

What documents must the employer submit to the Turkish Ministry of Labor to obtain a permit?

As we said, the road to obtaining a work permit in Turkey is a two-way street that you and your employer must take in Turkey at the same time and in parallel.

The employer in Turkey must provide the following as part of the work permit process in this country:

• Work permit application letter.
• Application form for foreign individuals.
• Details of the current contribution and capital structure of the business unit.
• Balance sheet and profit and loss statement for a recent year approved by the tax office or chartered accountant.
• Notarized power of attorney for the person who is allowed to register the file online as a user, by a foreign labor establishment or organization.

How to find a job in Turkey?

As mentioned, one of the main requirements for obtaining a work visa in Turkey is to find work in this country.

This means that if you do not get an offer to work or invest in a Turkish company, you cannot apply for a work visa in Turkey.

Therefore, before taking any action, you must complete the job search process in Turkey.

You can apply for it through recruitment agencies in Istanbul or any other province of this country.

Two good news: When you receive a job offer, getting a work visa in Turkey will not be so difficult.

In addition, even if you lose your job, your work permit in Turkey will not be revoked. So focus on finding a job to make your way to Turkey smoother.

Important note: If you have successfully completed the job search process and received a job offer, it is likely that your knowledge of the Turkish language will not be important to the employer.

There are several ways to find a job in Turkey that we would like to introduce to you in the following:

When you start the process of searching for a job in Turkey or in Istanbul or any other province, there are many websites that can pave the way for you.

You can read more about finding a job in Turkey here.

You can start this journey with Google. It is best to look for a job that you would like to do during your job search in Turkey.

For example, you can search for the phrase (Arabic teacher in Gaziantep) or (Delivery driver in Ankara).

You can also get help from Facebook Jobs to find a job in Turkey.

This can be a good way to find out about jobs around you.

You can also join different Facebook groups related to your profession, language or nationality.

Warning: Note that this is an unofficial way to find work in Turkey. Therefore, do not rely too much on offers made in this way and try to use them only to see what job opportunities are available.

Find a job through employment websites in Turkey

If you are looking for a job in a specific region of Turkey or you just want to spend your time searching for a job in Istanbul, you can use these websites which are available to all job seekers. And the most famous

• Yenibiris.com
• Jooble.org
• Secretcv.com
• Iskur.gov.tr

Concluding

Working in Turkey is a good opportunity for foreigners who have skills or experience in a particular field.

It is important to note that in order to obtain a Turkish work visa, you must have a work permit from a Turkish employer.

So first of all you have to apply for a job in Turkey through reputable websites.

You can also apply for a job in a specific area, such as finding a job in Istanbul, through these sites.

In many cases, you do not need to be fluent in Turkish to work in Turkey.

But mastering this language or English can be a positive thing for you.

In addition, after obtaining a work permit from a Turkish employer, you must coordinate all the steps of obtaining a Turkish work visa with him, because this process in Turkey is a parallel process that you and the employer must go through.

Frequently Asked Questions

How long does it take to process a Turkish work visa application and obtain a work permit in this country?

After the employer submits the documents required to employ a foreign employee in Turkey, a maximum of thirty days is spent on processing the information and documents at the Turkish Ministry of Labor. This period is subject to submission of complete documents.

Is it possible to work in Turkey without knowing Turkish?

It all depends on the job you are applying for. According to some jobs, you can work in Turkey completely without having to know the Turkish language completely.

What is the cost of obtaining a work visa in Turkey?

These costs depend on the type of work permit. The following table shows the range of costs in 2021:

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Turkey has a good reputation in the field of trade around the world, so opening a store in Turkey selling different products can have a profitable start in the Turkish market.

Opening a store in Turkey is one of the most popular ways to start a business and earn money in Turkey, which of course requires a series of legal steps for foreign citizens.

If you are planning to immigrate to Turkey and open a store in this country, then join us to share with you complete information on how to open a store in Turkey.

Types of stores in Turkey

You can buy different types of stores in Turkey, depending on what you aim for.

Below we will mention the different types of stores in Turkey:

Buying a pre-opened store in Turkey

You can buy a pre-opened store to avoid the hassle of starting a business from the beginning, this method is called turnkey business in Turkey.

The most important thing in using this method is to take into account the previous income and sales of the store and whether it was profitable for you to purchase it.

Buying a Franchise for a Store in Turkey

In this way, you can buy a reputable brand in Turkey, this is called franchising.

There are many benefits of buying a franchise business in Turkey, the most important of which is that you can get good profits, just try to be a good and smart trader.

One thing to keep in mind is that a percentage of each store’s sales go to the primary company, and the cost of franchising from reputable brands is high.

You can review this detailed article about buying a franchise business in Turkey.

Opening a store from scratch in Turkey

Finally, you can start a business from scratch, but this method has many difficulties compared to the previous two methods.

You need to manage various aspects of the business, including marketing, equipping your store with the most appropriate merchandise, hiring a workforce, as well as promoting your business.

You need patience, experience and perseverance, and you cannot expect high profits quickly, however many people prefer to use this method because they can start their own business with their own plans and have complete control over it.

On the other hand, in many cases you may not be able to find the store you are looking for ready to sell, and you need to start from scratch.

What is the most appropriate and best type of store?

Choosing any of the above methods for setting up a store in Turkey depends on your financial situation and the type of business you intend to do.

You have to do the necessary and thorough research on each of these methods, and cannot be sure that buying a ready-made store means that you will achieve high profits.

Although obtaining a commercial franchise from famous brands can be a good option, famous brands require a large amount of cash in exchange for franchising.

Finally, when setting up a store from scratch, you will need basic information and expert advice to be able to succeed, but you have to keep in mind that you will not start generating good income quickly.

The necessary steps to open a store in Turkey

Many people prefer to open their own store from scratch in Turkey and start their business in this country in various fields.

The first step in this process is to choose a suitable location to open the store and what kind of customers you are targeting and in which city.

To do this, you need to know enough information about different regions of Turkey and evaluate the sales market in them so that you do not lose money after opening the store.

Once you have decided on the type and location of the shop, you must apply for a work permit in Turkey from the Ministry of Labor, and then you will need to obtain a tax number for the shop in Turkey.

After receiving the tax number, you have to go to the tax office to get the company registration certificate and register your company’s financial statement accordingly.

In continuation of this process, you have to register your company in the trade newspapers, and finally refer to the municipality of the region or province.

Regardless of the size and scope of the store, foreign investors who plan to open a store in Turkey must apply for a retail license and provide information about the manufacturers of the goods they intend to sell.

For example, there are special licenses to sell cosmetics and over-the-counter products, where investors wishing to sell these items must apply for a license.

The most important thing to consider when starting a business in Turkey, as one of the ways to invest in this country, is that it can be a winner or a loser, and it totally depends on your experience and the people who accompany you on this journey.

For this reason, it is recommended to use the advice of specialized agencies in registering a company in Turkey, especially in cases where you intend to obtain Turkish citizenship, and most importantly to transfer the capital to Turkey you will need a knowledgeable and reliable consultant.

Finally, registering a company in Turkey does not take a long time, between 1 and 3 weeks.

The costs of opening a store in Turkey

One of the most important issues that you need to plan properly is the costs of opening a store in Turkey.

You need to know how much capital you can start your business with, if you can’t manage your money and budget, you will likely fail quickly.

To start a business and set up a shop, restaurant, cafe or anything else, you must first register a company in Turkey and then buy or rent a suitable place to start your business.

Also, hiring an accountant in Turkey is mandatory for the employer, and all of your company’s financial work must be done by the company’s accountant.

The cost of registering a company in Turkey is about 10,000 TL, in addition to this, you should consider the cost of renting or buying a property.

The price of buying or renting a store in Turkey varies in different cities and regions, for example in the most important cities of Turkey, Istanbul, there are many regions, each of which offers different prices for buying or renting a store according to its location and conditions.

For example, Sisli, Beyoglu and Besiktas districts in Istanbul are known as the most crowded areas, due to the large commercial markets in these areas, the prices of their stores are a lot higher than other areas.

The conditions surrounding the store, the higher the sales forecast, and the higher the rental price.

But you may not easily be able to find empty stores in the crowded neighborhoods of major Turkish cities like Istanbul, because in these neighborhoods where there are shopping centers, the stores are usually all occupied and have profitable businesses.

However, if you can find the right store to buy or rent, be aware that in addition to the factors mentioned above, there are many other factors such as the age of the building that also affect its price.

Investors who intend to buy a store in Turkey and start their own business, in addition to the initial capital, must have sufficient information about the steps for registering a company and the costs of opening a store.

And you should consider whether the store’s income is at least equal to the amount of capital you will spend on it.

Finally, keep in mind that without having enough information to start a business, especially in a foreign country, you may encounter unexpected problems that require high costs to solve.

For this reason, asking expert consultants in this field for access to the latest information can be very important in managing the cost of opening a store in Turkey.

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Have you ever wondered whether all the branches of chain brands like McDonald’s or LC Waikiki belong to a specific person or not?

Almost all the famous brands in various fields use the franchise buying model.

By buying a franchise in Turkey, you are buying a brand representation that is active and has customers all over Turkey.

Not only will you buy a ready-made company, but you will also have the opportunity to work with an energetic and strong team that will help you start and succeed in your business, because the growth of each branch and the representation of the brand will be beneficial to its original owner.

What does franchising mean?

A franchise is an investment model that allows a buyer to use someone else’s expertise, ideas, and customers for a set fee, legally and with the consent of its original owner.

For example, the fast food chain McDonald’s, which has branches all over Turkey.

The owner of the McDonald’s chain of restaurants gave a franchise to the owners of his other branches in Turkey.

After granting the commercial franchise, the trademark owner must provide the investor with basic materials, such as training, advertising, and guide him in setting up and prospering his business.

There are two types of franchises in general. 

The first type is to have the right to use and work with the name and brand, and the second type is to have the right to sell or distribute the brand’s product.

Either way, you should keep in mind that representing a brand does not simply mean selling that company’s products, but that you must use a consistent method of selling, marketing, and providing services.

This in itself is an advantage because it clears the way and gives a good start to those who do not have extensive business experience and reduces the risk of failure.

Buying a franchise in Turkey gives you the opportunity to start your own business and earn money using someone else’s well-known brand, and a contract is signed between the brand owner and the investor for an agreed amount.

Doing Business After Buying a Franchise in Turkey

The owner of the brand and the buyer must participate in training courses for the establishment of a branch for the brand.

During these courses, they fully familiarize themselves with the financing and management system, how to deal with devices and materials, and acquire the necessary skills to manage the branch.

As mentioned, the success or failure of any branch of a brand is actually the success or failure of the entire brand so it is important to follow the training agencies and monitor their activities.

Franchises can be purchased in Turkey in various fields including restaurants, cafes, health & beauty, education, entertainment & recreation, and the trade of various products such as clothing, home appliances, electronics, and others.

By buying a franchise and having a branch in Turkey, in addition to starting a profitable business, after a few years you can apply for permanent residence in Turkey or even get citizenship.

Buying a franchise for brands in Turkey gives you the opportunity to buy a name for a famous company, so the cost of buying a franchise in Turkey with all the advantages of the brand is high, because it will undoubtedly be profitable in a short time.

How to buy a franchise in Turkey

Administrative and legal steps must be taken to franchise a trademark in Turkey.

The first stage of obtaining a commercial franchise is to establish and register a company in Turkey.

In order to obtain a commercial franchise, the usual steps for registering a company in Turkey must be done legally.

The company then signs a franchise agreement with the trademark owner to obtain rights and undertake obligations between the company and the buyer.

After signing this contract, the investor must abide by all the clauses recorded in the contract text, in return the franchisor is obligated to provide the brand and the necessary training to the staff and the entire management.

Costs of buying a franchise in Turkey

You have to pay a high price to buy a franchise of a famous brand, and this fee is for a certain period of time, for example you pay a certain amount to get a franchise from McDonald’s for 20 years, and the higher the brand value, the higher the fee.

In addition to buying a brand franchise, there are other costs of starting a business in Turkey.

The first and most important of these costs is the cost of renting or buying a property.

One thing to keep in mind in this case is that the property and the location of the branch must be approved by the brand owner, and after the property is ready, you also have to pay for the design and decoration.

Finally, the costs of employee salaries must be taken into account, as well as the cost of purchasing raw materials, products, and equipment needed to start the business.

Note that even if the brand owners are with the buyer at all stages and give the necessary advice, the buyer will be responsible for paying the required fees.

Therefore, before making any decision or action, check the necessary capital in order to buy the franchise of the brand you want in Turkey and get experienced advice in the field of investment in Turkey.

Obtaining a franchise in Turkey for free

You may have heard about obtaining a free business franchise in Turkey.

The franchises of some companies and brands in Turkey can be purchased at very low costs and in some cases for free.

Less popular startups try to expand their business by offering free or low cost perks, however keep in mind that these companies usually have fewer clients, which means they will be less profitable than other successful brands.

But these companies may also become successful over time, as the purpose of these companies is to sell their franchises at a very low cost to be known among the people.

As mentioned, you should keep in mind that getting a franchise from startups at a very low cost or in some cases for free is more likely to be a hit of chance for success or failure.

What is the reason for the development and popularity of acquiring a franchise business in Istanbul?

The idea of ​​franchising has made great progress all over Turkey, especially in Istanbul, where you can find agencies of different brands in different neighborhoods of Istanbul.

One of the most important factors is Istanbul’s great development and expansion, as almost all urban areas in Istanbul have expensive, middle and low-end neighborhoods.

In other words, citizens with different income levels and tastes are spread all over the city, so brand owners will have potential customers in whatever area they set up a branch.

In addition, Istanbul is very big, and to know the size of this city better, know that it is twice as large as New York, which is why even the smallest brands with not too many customers have more than two branches in Istanbul.

Finally, Istanbul is the most important commercial center in Turkey and a destination for millions of tourists, so it has many different business opportunities such as establishing a restaurant or representing clothing brands or supermarket chains.

Who are the right people to buy a franchise in Turkey?

Buying a franchise business in Turkey is suitable for those people who have enough capital but do not have a specific business plan to start a business and do not want to take risks, and do not have enough information about the labor market, however some people prefer to open a shop in Turkey and work independently at a lower cost.

Among the most important things to consider when buying a franchise in Turkey:

• Brand Reputation in Turkey.
• Franchise price and initial investment required.
• Profit, ROI and Brand Growth Forecast.
• The level of support that the franchisor provides to the investor.
• The location required to establish the branch and its requirements.
• Licensing and Legal Processes.

Franchise selling sites in Turkey

Below, we will present some websites that offer opportunities to buy franchises in Turkey.

By browsing these websites, you can get an overview of the initial terms and costs of buying a franchise in different cities of Turkey.

• topfranchise.com
• franchiseeurope.com
• turkeyfranchiseopportunities.com
• franchising.com
• businessforsale.com
• bemyfranchise.com.tr

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Turkey is one of the most popular commercial destinations among foreigners, as the Turkish economy is based on tourism and trade and has made great progress in many areas.

Located in one of the most sensitive and strategic regions in the world, Turkey is the crossroads between South-West Asia and Europe.

Known as one of the most influential countries in global trade, all these reasons have made the trademark registration in Turkey so popular.

If you already have a business or plan to start a business in Turkey, then stay with us to learn more about how to register a trademark in Turkey and its benefits.

What are the benefits of registering a trademark in Turkey?

By registering a company or moving a company to Turkey and registering a brand in this country, investors can achieve a world of opportunities to promote their products.

In general, due to the fact that trade in Turkey is subject to international trade rules, many manufacturers and investors in this country have the opportunity to enter into the advanced global market by entering the unique Turkish market.

On the other hand, Turkey’s general economic policies are aimed at supporting producers and exporters, so the Turkish government abolished the tax on income from exports and products, which attracted the attention of large investors around the world.

And in this way the Turkish government supports investors to start investing in this country.

Another important point is that the Turkish market is a large and competitive market, and in order to be known in such a market, it is not enough to register a company and business, your business must be known.

As mentioned, competition is high in Turkey and many companies are active in this country, and the stronger the competition, the greater the need for competitive tools such as branding.

The most important advantage of trademark registration in Turkey is that it prevents the misuse and supply of similar goods by third parties under identical or misleading trademarks.

So consumers will be able to distinguish products from each other, and the client would be relieved to see reliable brands on the products.

Trademark registration in Turkey

There are two main ways to register a trademark in Turkey:

• The first way: register a trademark at the patent office in Turkey.
• The second way: register an international trademark according to the Madrid agreement.

The Turkish Industrial Property Organization legally protects the trademark of natural and legal persons residing in Turkey and registered in the territory of Turkey or having rights under the Paris Agreement, and does not allow copies of the trademark of such persons under any circumstances.

1. Trademark registration by submitting a direct application to the Turkish Patent Office

This method is suitable for people who have registered a company in Turkey and started a business in this country.

By registering their trademarks in the Turkish legal system, these personels can later register their trademarks globally.

According to the Turkish government law, all natural and legal persons doing business in Turkey can register a trademark in Turkey in accordance with the commercial laws of this country, as the trademark is protected within this country.

Turkish trademark law applies to both Turkish citizens and foreigners, this means that people with non-Turkish nationality who work in Turkey according to the laws of residence in Turkey can also apply for the trademark registration of their business.

This requires an application to the patent office in Turkey, where the full details of the trademark are sent along with the image of the trademark.

After submitting the application, the experts of the Turkish Patent Office will review the application to check the rules, regulations, similarities and trademark requirements.

If the trademark registration application complies with the rules and follows the principles of brand design, the trademark will be announced in the official monthly bulletin of the Turkish brand.

The duration of the announcement will be 3 months in order to give real and legal claimants the opportunity to protest, after which the brand will be announced in official newspapers.

If the application for registration of a trademark in Turkey at any of these stages is rejected for any reason, the employer can object to the result and request a review.

If after these steps no problem is found about the trademark, the applicant must provide the necessary documents for the final registration of the trademark in Turkey.

In the end, the trademark will be registered in the Turkish trademark registration system.

After registering in the Turkish business system, the trademark owner can register his trademark internationally at any time.

The validity period of the trademark in Turkey is 10 years and can be extended thereafter.

However note that if it is not used for no reason within the first five years of registration of the trademark, the right to use the trademark will be revoked.

It is worth noting that the best way for those who currently have a trademark is to register the trademark internationally and globally because in this case, your trademark will be easily valid not only in Turkey but also in 85 other countries that were involved in the Madrid agreement, which we will explain in the next section.

2. Trademark registration through the Madrid system

The use of the Madrid system is possible by the World Intellectual Property Organization (WIPO) to 85 countries, including Turkey.

In this way, business owners in countries that are members of the Madrid agreement can register their trademarks by paying legal fees.

International trademark registration means that you can register your trademark in the member countries of the Madrid agreement by paying the legal and accredited fees in each individual country.

Applicants who have Turkish residency and have registered a company in Turkey can register their brand and use it internationally.

International brand registration is not only cheaper and easier but also more effective, because it will provide your brand support in many countries.

As mentioned, the Madrid system currently has 85 members, and registration in these 85 countries will be possible through IP offices, which are active in each of these member countries.

Frequently asked questions

What documents are required to register a trademark in Turkey?

The main documents required are the applicant’s identity documents such as passport, high-quality trademark sample, list of goods and services, company and trademark registration documents if any, and official application fee payment documents.

What is the cost of registering a trademark in Turkey?

The cost of trademark registration in Turkey varies according to the type of goods or services, the cost of multiple advertisements, the cost of document and trademark review, and the cost of a lawyer should also be taken into account.

Should the brand name be translated into Turkish to register in Turkey?

Due to the use of the Latin alphabet for writing in Turkish, trademarks expressed in the Latin alphabet are registered in the same way in the source language.

Therefore, there is no need to translate into Turkish, if the brand name does not use the Latin alphabet in the presented language, the name should be written in Latin letters.

What is the validity of the registered trademark in Turkey?

Registered trademarks in Turkey have a validity of up to 10 years, after which their validity can be extended.

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In our time, all countries have their own unique online payment methods, since each country has its own rules and regulations, this is normal. 

Papara Turkey is an online financial services and payment system launched exclusively in the Turkish market in April 2016 under the auspices of the local bank supervision agency, a leading company in the Turkish market.

By the end of its first year, the number of users using Papara reached hundreds of thousands.

Although there is the possibility of opening a bank account in the turkish Banks or getting a visa and mastercard, the Papara Card is very useful for those who have not been able to open an international bank account.

What is a Papara card?

Papara is a new payment system designed to improve online payment methods, budget management and banking systems, providing safer, more economical and faster solutions to its users.

Papara is a credit card that allows users to purchase easily from the heritage sites that provide diversified products and services or transfer money to their friends and acquaintances in this country.

If you are familiar with international credit cards such as Visa Card and MasterCard, you know that receiving them has special conditions and requires a minimum deposit.

Papara credit card is issued with the same efficiency as MasterCard and Visa Card and with very easy terms for users.

The account and receipt of this credit card can easily be opened online and through the official website of this company, its validity is 10 years and can be extended.

With the default form of the Papara Account, you will not be able to receive money from ATMs, and you can only use the default type of these accounts for online purchases and transactions.

This credit card can be used to pay current expenses such as NETFLIX subscription, paying taxi fees online, buying from the App Store or Google Play and other international platforms.

The most important companies have also made agreements to use the Papara card, the main ones being Youtube, Netflix, Spotify, bkm book, teknosa, gittigidiyor, and kahve.com, Carrefour and many other companies.

What are the benefits of using the Papara Card in Turkey?

The first advantage of the Papara card is that you do not have to deposit large amounts to get one.

In addition, Papara has signed contracts with many sites and stores in Turkey so that users can take advantage of the interesting discount opportunities of these companies.

These discounts sometimes reach up to 50% of the original value of the service or product when purchased with a Papara card.

The Papara Card provides the opportunity to trade 24 hours a day, 7 days a week, regardless of time and place.

Another noteworthy point about these cards is that it is also possible to transfer money using people’s phone numbers or emails, and this is one of the amenities that Papara has provided to its users.

So if you can’t open an account in a Turkish bank for any reason, Papara will provide you with a wide range of options and benefits.

How to get a Papara Card in Turkey?

The first thing you need to do is open an account on the official Papara website.

Opening an account on the Papara website is free, fast and easy, the information required to create an account includes the first name, last name, phone number, email address and password you want to use for your account.

Note that the Phone number you enter must belong to your Turkish SIM card, otherwise you will not receive a text message to confirm the account and you will not be able to complete the account opening process on the site.

After registering with the site, log in to your account and click the “Apply” button on the Papara credit card page, you will be asked to enter the address where you want to receive your card.

When this process is completed, the card is printed and sent by courier service, usually it takes 4-7 days to send the card to the address you entered.

After receiving the card, you must activate your card from the page under “Activate Papara Card”.

There is certain information on your card and you will be asked to enter this same information, which will activate your card and use it to make purchases anywhere in the world or online.

After receiving the card, you can deposit the amount you want without having a minimum.

In order to use your Papara account and card for purchases and payments in Turkey, you must first fill it in cash from your bank account.

There are more than 15 banks in Turkey that support such remittances, where you can go into the tens of thousands of ATMs all around Turkey, and all you need is an email address and telephone number.

Fees on using Papara credit card

It is generally recommended not to use the Papara Card to make large transactions and transfer large amounts of money.

It is better to use it for expenses such as paying bills, restaurants, taxis, buying from the internet and supermarkets.

With regard to fees, the cost of transferring money from a Papara account to a Papara account is not subject to commission, however receiving cash from ATMs and transferring to other accounts has a small fee.

Is it safe to use Papara Cards?

When it comes to financial transactions, security becomes very important, keep in mind that a Papara card cannot be used without its information, so Papara credit card information and Papara account should be kept out of the reach of anyone.

In addition, you must also protect the passwords and information of your ATM card.

There is absolutely no concern from the company, with many years of experience Papara emphasizes on protecting users’ information and privacy for their security page.

According to information published on the official website of the company, the Papara is an authorised firm, created under Law No. 6493 under the supervision of the Central Bank of the Republic of Turkey.

Papara has also asked users to refrain from disclosing card information and passwords, and if anyone requests information from you as a sponsor of this company, ignore these requests while not providing the requested information.

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