In Turkey, software companies may be established as a joint stock or limited company by following the standard procedures. No prior permit or approval is required from a ministry or competent authority. Nowadays many software companies are established within technoparks.
What is Technopark?
A Technopark can be defined as research and business centers established by atleast one university and private sector representative with the aim of developing innovative product with added value. The reason why many software companies prefer to be established at technoparks is its many advangates like the following; exemption of income and corporate tax from software and r&d related income, exemption of income tax from employee wages and SGK employer stock support.
Offices ,which are mostly located in technoparks within university campus blocks, are allocated and rented to companies who plan on working in r&d. The practices of these r&d companies are inspected in various ways and tax exemption is applied based upon the “technopark suitability” of the company’s work.
In order to build a business in a technopark the founders must have a r&d and/or innovation based project. A company is not required to be established before the application. However if the project gets approved the founders are required to establish the company.
Establishing a Business in Technopark
The technopark application project should be made into a project file that is in accord with the relevant technopark’s project application guide. The project file should contain, the extent of the activities of the project, the people who are working in the project and their positions, the magnitude of the value that the Project adds and the plans of cooperation with the uniiversities and research centers should be expressed clearly. In addition to the project file some official documents (trade registry number, authorized signatory list etc.) are demanded.
After the Project file is complete, the founders must pay the “technopark appliaction fee” that is determined by the technopark administration. After the fee is paid the founders must apply to the technopark administration. In this phase, the administration’s commision evaluates the r&d eligibility of the company’s practices. In the event of an approval by the administration, the founders are notified and after this phase the software company can rent an Office at the technopark and establish itself.