Akkas CPA & Turkish Accounting Firm is a globally recognized Turkish Accounting Firm with a long record of excellence and professional leadership in Istanbul, Turkey. Our accounting team is prepared to handle your company’s accounting services in Turkey. Akkas CPA handles all kinds of Accounting services in Turkey required to run your company in Turkey. You may reach our accountants for Free Trade Zone Company Establishment in Turkey.
Akkas CPA offers the best accounting services, at competitive prices to foreign businessmen who already established or getting ready to establish a company in Turkey.
After registering a new company in Turkey, you will need to hire an accountant & CPA in order to manage the financial issues and offer solutions to lower the costs for your business. A good accountant will help you save money and make your company more efficient in terms of costs. In a short time, if your company is managed well from all points of view, the profit will increase.
An experienced accountant knows all the rules and regulations related to your business activity and will offer you the best advice in order to protect your money. Before hiring an accountant, you should check if he/she is registered before an accounting body in Turkey, so you will be sure that he/she is a professional and you can trust him.
Free Trade Zone Company Establishment in Turkey
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.
Turkish Free Trade Zone Company Establishment Services
We maintain a unsurpassed practice counseling and representing large and small companies and boards of directors regarding Turkish 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 Turkish Company Formation. Our services with respect to Turkish 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 License
In order to operate in a Turkish Free Trade Zone, companies need an Operating License which is granted by the Regulator mentioned above. The firms which are found appropriate to get an Operating License 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 License. Upon the submission of a copy of the rental contract approved by the related Zone Directorate to the regulator, operating license 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 Free Trade Zone Company Establishment in Turkey
Our firm’s team of skilled tax professionals are up-to-date with the latest tax laws and regulations and are experienced with tax planning and compliance for a wide range of client circumstances and reporting, from self-employment and brokerage accounts, equity and incentive based compensation, foreign income, foreign asset reporting, and more.
Through proactive projection and planning, we aim to provide you with transparency into your tax liability and to tax savings opportunities when it matters so you can make more timely and informed decisions. Through the use of industry leading technology platforms and processes we are able to enhance the quality, timeliness and convenience of our tax services and security of your data. Thanks to its nationally recognized accounting services, our accounting firm is now one of the leading accounting firms in Istanbul, Turkey. You may reach our accountants for Free Trade Zone Company Establishment in Turkey by sending an email to us.