Obtaining Residency in Turkiye through Company Registration
Turkiye offers two primary pathways for foreign individuals to obtain residency: Business (Commercial) Residency and Work (Employment) Residency. In this comprehensive guide, we will explore the requirements, benefits, and application processes for both types of residency. Additionally, we will delve into the specific documentation and steps required for each category.
1.Business (Commercial) Residency:
Business Residency is an attractive option for those who wish to invest in or become shareholders of a Turkish company. To qualify for this type of residency, individuals must meet the following criteria:
_Hold a minimum of 20% of the company’s shares.
_There is no requirement to employ Turkish citizens to be eligible for Business Residency.
Benefits of Business Residency:
_Business Residency does not necessitate temporary residency before application.
_Business Residency holders can apply for family residency for their spouse and children under 18.
Additional Documentation for Business Residency:
_Shareholder certificate proving ownership of at least 20% of the company.
_Incorporation documents and information about the registered company.
_Proof of investment in the company.
1.Work (Employment) Residency:
Work Residency, also known as “Çalışma İzni” in Turkish, is one of the most rigorous and costly options for gaining residency in Turkiye. To be eligible for Work Residency through company registration, applicants must meet the following requirements:
_Own a minimum of 20% of the company’s shares.
_Invest a minimum of 40,000 Turkish Lira (TRY) in the initial capital of the company.
_Hold a temporary residence permit before applying for Work Residency.
_Have a minimum of five Turkish citizens employed by the registered company.
Benefits of Work Residency:
_Work Residency permits the individual to legally work in Turkiye.
_Family residency can be obtained for the spouse and children under 18.
Additional Documentation for Work Residency:
_Shareholder certificate indicating a 20% or more ownership stake in the company.
_Proof of a 40,000 TRY investment in the company.
_Temporary Residence Permit.
_Employment contracts and evidence of employing a minimum of five Turkish citizens.
Turkiye offers both Business and Work Residency options for foreign individuals seeking to establish themselves in the country. Business Residency is suitable for investors and shareholders, while Work Residency is more demanding and requires substantial investment and employment commitments. It’s crucial to understand the specific requirements and benefits of each type of residency before embarking on the application process. Additionally, always ensure that you have the necessary documentation to support your residency application.
Required Documents for Work Residency:
1.Work Permit: This document is issued by the Ministry of Labor and Social Affairs in Turkiye and signifies your work permit.
2.Passport: A copy of the main data page of your passport along with copies of pages containing your entry visa to Turkiye and your entry date.
3.Employment Contract: The contract that outlines the job details and the employing company.
4.Rental Contract: If you have rented accommodation, you should also provide the rental contract.
Required Documents for Business Residency:
1.Shareholder Certificate: To obtain Business Residency as an owner or shareholder of a company in Turkiye, you must prove that you have at least 20% of the company’s shares.
2.Investment Confirmation: To obtain Business Residency through establishing a company in Turkiye, you need to confirm that you have invested at least 40,000 Turkish Lira as initial capital in the company.
3.Bank Guarantee: In some cases, you may need a bank guarantee to obtain Business Residency. This guarantee is used as insurance to cover potential exit costs from Turkiye.
4.Company Financial Report: A financial report indicating the financial status of the company in Turkiye.
5.Personal Financial Confirmation: A document showing your personal financial status, which you may need for obtaining Business Residency.
Please note that the requirements and documents may change and vary depending on the type of residency, company size, and other factors. For more accurate and up-to-date information, always refer to official sources and specialized legal consultants.
For more detailed information on how to register a company in Turkiye, please don’t hesitate to contact the Commercial Department of the “With Us” Group. They can provide you with comprehensive guidance and assistance in the registration process