Establish a Company in Turkey For Rental and Leasing Activities
Establish a company in Turkey for rental and leasing activities is relatively simple in the present times, and the procedure is also the same for both the local and the foreign investors. Turkey’s geographically favorable location can be considered as a land of abundance because of the easy availability of most types of natural resources. This collectively stands to create a suitable environment for running multiple types of businesses and industries in Turkey.
In order to open a company in Turkey for rental and leasing activities, it’s important to register your company first before you begin to offer your multitudinous yet specific services in the consumer market.
Why Open a Company in Turkey For Rental and Leasing Activities?
The positive contributions of numerous business sectors functioning in Turkey have helped Turkey’s economy gain value in the global market. Turkey’s amazing expansion in the energy industry, aquaculture, real estate, textile manufacturing, tourism, and other areas has allowed the country’s gross domestic product (GDP) to surpass Saudi Arabia’s, and the country is on its way to becoming a developed country within the next decade.
Opening a Turkish Company for rental and leasing activities in such a scenario can prove to be incredibly beneficial and profitable since these industries attract many foreign investors annually, who are also eyeing various investment opportunities in Turkey.
Varied Functions of a Company in Turkey For Rental and Leasing Activities
This type of company established at the correct location can yield lucrative results for every person involved in the business. Turkey can accommodate various types of businesses because of the easy availability of multitudinous resources and, good trade relations with its Mediterranean neighbors, European neighbors, and the Asian market.
A company in Turkey for rental and leasing activities can serve to offer the following few services apart from numerous others, such as;
Rental and Leasing Activities Concerning Agricultural Land
When it comes to providing or acquiring agricultural land on a rental basis, the most common types of leases are either cash rent leases or crop-share leases. Each entails specific rental rates of their own and, the involved risks are relatively similar for the respective parties in both scenarios.
There’s also a third type of lease that can be both acquired and provided; it’s called a hybrid lease. Such a lease can utilize terms from both the cash lease and crop-share lease to benefit both parties involved in the transaction. Other leases that concern agricultural land are; wind lease, oil & gas lease, solar lease, etc.
Rental and Leasing Activities of Automobiles
This type of company allows rentals for automobiles, that must make their vehicles insured at all times to provide their customers with safety regardless of the packages that are made available to them. The company must also perform the service and maintenance duties for their fleet of vehicles which may be then leased for a finite period that may also involve cross-country travel and other uses.
Rental and Leasing Activities for Equipment & Machinery
Various types of industries can benefit from the leasing of equipment and machinery that can help them grow their business without harboring asset management costs and other expenses. Whether big or small, each company can negotiate the risks and terms that mutually satisfy both parties to enjoy a harmonious business relationship where both parties benefit incrementally.
Rental and Leasing Activities of Commercial & Residential Properties
Numerous avenues can be developed and arranged by this type of company to provide or acquire commercial and residential properties in Turkey. The Turkish legislation has laid out several laws and provisions in place to support various types of scenarios of leasing property to ensure a smooth operation while both parties enjoy certain benefits respectively.
Starting a New Company in Turkey For Rental and Leasing Activities
When you open a rental or leasing company in Turkey, depending on the type and capacity of services that you may offer, they must adhere to the respective laws and regulations such as the Turkish Civil Code, Contract Law, the Land Registry Act, Financial Leasing Act, etc.
Requirements to Establish a Company in Turkey For Rental and Leasing Activities
Such types of companies can either be registered as a Limited Liability Company (LLC) or a Joint-Stock company (JSC), yet their registration process remains the same. Their procedure of establishment, in brief, is as follows:
- Prepare incorporation documents or a joint venture agreement containing relevant details.
- Apply for registration with the Turkish Trade Registrar and other respective authorities.
- Obtain the VAT number and tax identification number from the Turkish Tax Authorities.
Final Words and Conclusions on; “Open a Company in Turkey For Rental and Leasing Activities”
A company in Turkey for rental and leasing activities can benefit greatly from its shared existence with numerous industries and businesses located in Turkey. While it’s crucial to pick location and service network, they can both align with the market you’re aiming to succeed; the legal procedure that is required to be fulfilled, to commence your particular type of business mostly remains easily accessible and simple across the nation. This type of company can surely prove to be lucrative in time when you also factor in the rapid development of the nation, and the components that are driving it towards sustainable growth. An experienced Turkish lawyer can aid you with this matter and throughout the process.