Finlexia is a globally recognized Turkish Accounting Firm with a long record of excellence and professional leadership in Istanbul, Turkey. Our company formation team members are prepared to handle your Joint Venture Formation in Turkey. Our Turkish Company Formation Team is also experienced in liaison office formation, branch office formation, free trade zone company formation, joint stock company, joint venture formation, limited liability company formation, holding company formation, and company management and governance.
Joint Venture Formation in Turkey
Joint ventures are becoming more commonly used in all industries as businesses with complementary operations seek to collaborate to develop new projects, pursue joint financing to expand distribution, or realize other strategic business objectives in Turkey and around the world. Finlexia has extensive experience with joint ventures in various industries and practices. We work with clients on all stages of joint venture formation and management. Our Joint Ventures attorneys focus on specific industries:
Energy Joint Ventures
Our attorneys have significant experience in negotiating joint ventures in the energy industry. We have represented publicly traded energy companies, large private equity funds, public and private institutions, foreign investors, university endowments and a variety of taxable and tax-exempt investors in their energy investments and joint ventures. We also have significant experience in representing management teams in their negotiations with private equity fund investors. Our practice group has assembled a team of lawyers and legal professionals with diverse, but complementary, experience so that we may provide assistance in all matters affecting our energy clients and their businesses.
Our lawyers have knowledge in oil and gas, power, clean energy, corporate-securities, mergers and acquisitions, partnership, tax, international, venture capital, employment, environmental, finance, and litigation issues that affect the energy industry. This multi-disciplinary approach affords our clients efficient access to lawyers possessing the depth of experience necessary to address any need they may have, while creating a team of professionals particularly suited to providing the creativity and flexibility necessary to guide those clients through the rapidly evolving legal and regulatory landscape.
Projects Joint Ventures
Finlexia has extensive experience counseling joint ventures and investors in joint ventures, often in cross-border situations. Our lawyers work closely with consortium members or venturers and their in-house counsel, or with an individual investor in a project, to identify their business, tax, financing, governance and other concerns and priorities, and to develop appropriate structures and approaches. Our experience and understanding of the underlying business allows us to provide practical advice to help clients achieve project success.
The significant capital costs and high commercial risks associated with the energy industry frequently create the need for complicated and innovative joint venture structures to achieve economies of scale, to allocate risks and to access market opportunities for substantial capital investments, including joint ventures involving oil and gas exploration and development, electric power projects, gas storage facilities and pipeline and LNG projects. We have structured, negotiated and documented joint venture arrangements in many sectors of the energy industry, where industry participants frequently act through joint ventures.
In addition to the energy sector, we have extensive joint venture experience across many other industries, including telecommunications (cable, telephony, satellite services and the Internet), transportation (airlines), pharmaceuticals and healthcare, entertainment and sports, real estate, information technology, computer technology, software development, transportation and mining.
Finlexia’s corporate practice handles entire joint venture endeavors from inception to final agreement, with special emphasis on structuring the venture entity, tax planning and corporate governance between or among the partners.
Real Estate Joint Ventures
Real estate joint ventures are a common vehicle for blending development expertise, product expertise and local knowledge with capital sources. These capital sources include public funds, private funds, high net worth individuals, and tax-exempt investors (including retirement funds and sovereign funds). Finlexia has extensive experience in the formation of joint ventures representing the service provider and the capital source. Finlexia‘s experience extends to the formation of joint ventures involving tax-exempt entities in joint enterprises with taxable entities. Our joint venture experience includes both acquisition and development of the following real estate product types: office, hospitality, retail, mixed use, special venues, and land development.
Company Formation in Turkey
Today, clients are faced with unprecedented challenges as new laws and regulations are changing the way the corporate world works. Finlexia Accounting Firm has one of the preeminent corporate governance practices in Turkey, drawing upon the expertise of our corporate, securities, governance, litigation, and compensation specialists to provide our clients with the information and analysis needed to respond to a rapidly changing regulatory environment.
We regularly advise clients with respect to the formation of companies. Our services with respect to company formation include advising and drafting documents in connection with the formation of corporations, limited liability companies, and liaison offices. We provide targeted advice with respect to both the choice of entity and Turkish laws under the entity is to be organized.
Types of Companies in Turkey
Our company formation team is experienced in formation and governance of;
- Branch Office formation
- Liaison Office formation
- Limited Liability Company formation
- Joint Stock Company formation
- Free Trade Zone Company formation
- Joint Venture formation
in Turkey. We maintain a unsurpassed practice counseling and representing large and small companies and boards of directors regarding entity formation and corporate governance matters. We advise our public and private clients on all matters concerning formation of new entities from corporate formalities to tax issues.
We also advise our company clients on a full range of new laws and related matters, as well as other corporate governance rules. Our clients range from small private companies with no internal legal staff to medium size companies with their own internal legal staff. For each of our clients we tailor our approach to that client’s unique requirements.
Joint Venture Formation in Turkey Free Trade Zone
A Turkish Free Trade Zone is a specially designed production site which aims at increasing export-oriented investment and production in Turkey, accelerating the entry of foreign capital and technology into Turkey, enhancing the productivity and economies of scale and increasing the utilization of external financial sources and trade opportunities. Although an Free Trade Zone is within the boundaries of the Republic of Turkey, it is treated as if it were a territory abroad. National regulations relating to foreign trade, financial and economic areas are partially applicable to Free Trade Zones. There are 20 Free Trade Zones in Turkey and their annual trade volume amounted to more than $ 23 billion in year 2005.
Steps for Joint Venture Formation in Turkey Free Trade Zone
We maintain a unsurpassed practice counseling and representing large and small companies and boards of directors regarding company formation in a Turkish Free Trade Zone and governance matters. We advise our clients on all matters concerning formation of new entities from corporate formalities to tax issues.
We regularly advise clients with respect to the formation of companies. Our services with respect to company formation include advising and drafting documents in connection with the formation of corporations, limited liability companies, and Turkish liaison and branch offices. We provide targeted advice with respect to both the choice of entity and Turkish laws under the entity is to be organized.
Our clients range from small private companies with no internal legal staff to large companies with their own internal compliance teams. For each of our clients we tailor our approach to that client’s unique requirements.
Free Trade Zone Company Tax Incentives
- Production companies in one of Turkish Free Trade Zones are exempt from both corporate and income taxes
- Goods imported from abroad are exempt from customs duty. In addition, there are no restrictions on the age/model of machinery to be imported from abroad, and these items are exempt from both VAT and customs duty
- Goods purchased in Turkey by companies located in a Free Trade Zone are exempt from VAT
- Companies based in a Free Trade Zone can keep their products in a designated duty-free storage area for an indefinite period of time and they can export the products in lots at any time (at the time of export, a customs duty for the lots is paid)
- Energy, water and telephone utilities supplied within a zone are all exempt from special consumption tax (OTV) and VAT
- 100% exemption from customs duties and other assorted duties.
- 100% exemption from corporate income tax for manufacturing companies.
- 100% exemption from value-added tax (VAT) and special consumption tax.
- 100% exemption from stamp duty for applicable documents.
- 100% exemption from the real estate tax.
- 100% income and corporate tax exemption for certain logistics services to be offered at the FZs, provided that they are export-oriented.
- 100% exemption from income tax on employees’ wages (for companies that export at least 85% of the FOB value of the goods they produce in the FZs.
- Goods may remain in FZs for an unlimited period.
- Companies are free to transfer profits from FZs to abroad as well as to Turkey, without restrictions.
- Exemption from title deed fees when acquiring and selling a property.
- VAT exemption during construction, design, settlement, and approval processes.
- Ready infrastructure exempt from VAT and other taxes.
- Import permit for second-hand, used machinery.
Free Trade Zone Company Operating Licence
In order to operate in a Turkish Free Trade Zone, companies need an Operating Licence which is granted by the Regulator mentioned above. The firms which are found appropriate to get an Operating Licence and which intend to rent an open area must sign a rental contract with the Zone Operator, or Founder & Operator. Firms intending to rent a closed area must sign a rental contract with one of the users holding Renting Operating Licence. Upon the submission of a copy of the rental contract approved by the related Zone Directorate to the regulator, operating licence is granted to the applicant.
List of Turkish Free Trade Zones
|FREE ZONES IN TURKEY||DATE OF EST.|
|1||MERSIN FREE ZONE||1985|
|2||ANTALYA FREE ZONE||1985|
|3||AEGEAN FREE ZONE||1987|
|4||ISTANBUL ATATURK AIRPORT FREE ZONE||1990|
|5||TRABZON FREE ZONE||1990|
|6||ISTANBUL THRACE FREE ZONE||1990|
|7||ADANA YUMURTALIK FREE ZONE||1992|
|8||ISTANBUL INDUSTRY & TRADE FREE ZONE||1992|
|9||MARDIN FREE ZONE||1994|
|10||SAMSUN FREE ZONE||1995|
|11||EUROPE FREE ZONE||1996|
|12||RIZE FREE ZONE||1997|
|13||KAYSERI FREE ZONE||1997|
|14||IZMIR FREE ZONE||1997|
|15||GAZIANTEP FREE ZONE||1998|
|16||TUBITAK-MRC FREE ZONE||1999|
|17||DENIZLI FREE ZONE||2000|
|18||BURSA FREE ZONE||2000|
|19||KOCAELI FREE ZONE||2000|
Reach us for Joint Venture Formation in Turkey
Since its foundation, Finlexia Turkish Accounting Firm has been the choice of numerous clients in Turkey. Thanks to its nationally recognized accountants and accounting services, our accounting firm is now one of the leading accounting firms in Istanbul, Turkey. You may reach our accountants and lawyers for Joint Venture Formation in Turkey by sending by sending an email or filling in Contact Form in Contact page.