Turkey: a shore for startups

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There are several types of legal entities in Turkey that can be registered by citizens of other countries. To open an LLC, you only need one founder and an authorized capital of 10,000 liras. A limited liability partnership (LLP) requires at least two founders, but there are no requirements for starting capital. To open a joint-stock company, you need at least one lebanon telegram database founder, one shareholder, and an authorized capital of 50,000 liras.

All processes were delayed due to sanctions and political uncertainty, so sales only began in January 2023. Now a realistic launch period is six months, even taking into account the search for clients for pilot projects. The longest stage may be finding a partner.

What geopolitical events really affected: it became more difficult to withdraw money to Russia. It was impossible to do this directly through the bank, it was necessary to find alternative legal ways. The post office also refuses to send correspondence to the Russian Federation, so be prepared to conclude all contracts through your Turkish legal entity.

We position our product as Turkish, but if people ask where the development took place, we honestly answer that it was in Russia.

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