Making a shelf company purchase in another country is one of the most common ways to expand the horizon of an entrepreneur. Shelf companies are the first thing that entrepreneurs mostly look for when they want to settle in a foreign country. And yet the question remains What is a shelf company?
Shelf company is the name given to a company with no activity whatsoever; therefore, it has no assets or liabilities until either a person or a legal entity comes along and purchases them. Since the name implies that these companies are metaphorically shelved away, they are usually available for sale.
This article will demonstrate the advantages of buying a shelf company in Turkey. This article can be a great start if you are looking for information that you might need to kickstart the whole process.
What is The Amenability of Purchase of a Company in Turkey ?
One of the most commonly asked questions regarding the process of purchasing a shelf company in Turkey is the question of legal amenability. Thankfully, the answer is simple: Turkey is one country that does not impose any limits on the nationality of persons wishing to own a shelf company.
Any entrepreneur who desires and has the resources can acquire a shelf company. In other words, a person or a legal entity has the right to make a such acquisition if they sign the agreement at a public notary office. To buy a shelf company, you should refer to experienced and competent Turkish business lawyers.
If you are planning on making such an acquisition in Turkey, it can be beneficial to consult the Istanbul Lawyer Firm. As a result, you can contact our lawyers who are open to communication and experts in their field to get advice.
The Process for Buying a Shelf Company in Turkey
Although buying a shelf company in Turkey can save a lot of time since there is a lot less paperwork to deal with, some important documents are still needed to make the purchase. To buy a ready-made company, the persons need to be able to prove their identities through their passports.
Whats more, there are certain forms that entrepreneurs need to fill out with the help of a lawyer. Istanbul Lawyer Firm can help you fill out these forms. Furthermore, the purchase needs to be made in front of a public notary in Turkey. This way, it can be proven that all the requirements of making such an acquisition are fulfilled without problems. At this stage, buyers should consult an attorney to be represented in the notary
office. Thanks to an experienced lawyer, every risk and benefit involving such an agreement can be understood thoroughly.
The Benefits of Buying a Shelf Company in Turkey
There are many advantages and benefits of buying a shelf company within the borders of Turkey. Aside from the benefits of a shelf company in general, you also benefit from buying this company in a growing country like Turkey. Some of the benefits of making such an acquisition are as follows:
- Saving Time,
- Corporate Longevity,
- Economic Growth of Turkey,
- Privacy
Buying a shelf company saves the entrepreneur from the whole paperwork hassle of creating a new business from scratch. The only paperwork that needs to be done is the paperwork required to transfer the ownership of such a company. All the advantages are explained in detail in the headings in the continuation of the text.
Saving Time
Buying a shelf company is the easiest way to save time, and this is because creating a new business out of nothing is usually more complicated than obtaining a pre-made company. Tax registration, bank accounts, and other types of paperwork are typically done beforehand.
Corporate Longevity
Corporate longevity is generally needed for many different reasons, such as being able to access corporate credits. Furthermore, under certain circumstances, it might be crucial for the company to have existed for a certain amount of time.
Economic Growth of Turkey
Buying a shelf company in Turkey can greatly benefit from Turkey's economic and industrial growth. Turkey is expected to have economic growth of 4.7 percent in 2023.
Privacy
In certain cases, business owners can sign contracts under a certain companies name to bypass personal liability. This might stem from many reasons, but in any case, a shelf company might help the owner gain privacy.
Final Words on Buying a Shelf Company in Turkey
Shelf companies are ready-made companies that aid entrepreneurs greatly in creating new businesses. By making such a purchase, entrepreneurs can benefit from acquiring an already-made business instead of working day and night to understand the ins and outs of
creating a business from scratch. There are so many benefits that entail the acquisition of a shelf company. Still, this is only a generalization since each case is unique. Therefore, you must consult a attorney regarding Turkish Corporate Law that you can communicate with.
Experienced attorneys at Istanbul Lawyer Firm are here to help you throughout the process of acquiring a ready-made company. However, if you want to understand this process better, it is strongly recommended that you make an appointment with the experienced attorneys at Istanbul Lawyer Firm. By booking an appointment with a lawyer, you can make sure that all.
You can read our previous article at /blog/employment-contracts-in-turkey