Website Member
Posts : 242
06.09.2005 : 03:19:30
We are hoping to move to Fethiye area early 2006 and would like info on obtaining residency, also we would like to set up renting out jet ski's on the beach, how do we go about this? do we need a licence?
Administrator
Posts : 33
06.09.2005 : 13:12:45
this post has been edited 2 time(s)
Hi!
I'm English and have a limited company here ... and my business partner is an accountant who has set up dozens of companies, including some for Brits.
On the residency permit front ... it's pretty straighforward ... you apply in writing to the passport police here in Fethiye, who get you to complete a form, and then you have to go to the mayor's office, the post office to make a payment to the Home Office account, the tax office to pay tax and the application fee .. you'll also need copies of your passports, proof of where you live (such as property deeds or a rental contract), and bank account details. After all the running around (which takes a morning), all the paperwork goes back to the Passport Police and then off to the relevant government department in Ankara and you wait ... you'll be told around 4 weeks, but this is invariably longer, up to 8 or so weeks! There are agencies who can help with all this on your behalf although you will still need to show up at various places - it's actually not difficult as long as you know the process before you start.
You won't be able to work on a residency permit. So, you have to set up your business. For that, the best advice I can give is that you find a good accountant and perhaps a solicitor whom you completely trust and who explains things clearly from the very start, as there are a lot of costs with set-up and then running the business about which it is helpful to know right from the start.
Then ... in order for you to work in your business, unless you are going to employ a lot of locals, it may then be necessary for you to apply for a work permit ... that's another story, as you have to demonstrate that the job you will be doing is not one which could be done by a local, and that as a foreigner you will be 'adding value'.
In all this: finding a trustworthy accountant is key .. they can handle all the set-up paperwork, advise on rules and regulations, and keep you on track once the business is up and running in terms of general accountancy issues like tax and insurance payments etc. I am sure that you will hear all sorts of right and wrong variations and rumours on how things are done ... having been through the process and helped others, my business partner and I have our own experience and so that's where I'm coming from.
But (there had to be a BUT somewhere!)... you are thinking about starting a business doing jetski rentals from the beach ... you may or may not know that there is currently a ban on jetski and other motorised watersports use in beach areas and in many bays in the Fethiye area. Marmaris is under a complete ban. This is due to the high number of accidents which have occurred over the last few months. The final decision on whether this ban will be permanent is yet to be made, I gather; it may be that only licensed waterports companies will be allowed to rent out jetskis etc (ie. that private use from boats and rental from unlicensed companies will be prohibited) ... but beach areas are generally kept as jetski-free zones. So .. make sure that you keep up with current legislation to avoid setting up a business which may not be viable if the rules change. Again, this is an area on which some will be clear and others not so clear, and there will be a lot of misguided gossip around, so as I have to keep up with what's what on that front(I'm a yacht broker) I'll post any news on this page for you.
I hope this is helpful - and that I haven't scared you off. Good luck!
Karen
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Posts : 242
12.09.2005 : 01:00:08
Is there a local goverment office we can contact for more details.
Website Member
Posts : 242
19.09.2005 : 14:13:06
Hi, I was interested in reading your comments about setting up a business in Turkey.
We have just bought a property near Fethiye and are considering setting up in the IT service business.
I was wondering what sort of ballpark figure you think would be involved in going down all the avenues you mentioned.
Administrator
Posts : 33
19.09.2005 : 15:57:15
If you mean contacting a government office about the jetski issue, they won't be able to advise on the setting up the business side of it. I can get my partner to do some digging. The rules about the jetski-use issue will most likely come through the harbour master's office and there is no clear guideline right now. BUT, they are asking all people considering setting up a business in Fethiye to apply to the local council (the belediye) first. My advice is to find someone you trust (ie. an accountant you might consider using), go through all the likely costs, and then apply to the relevant council - for Fethiye or Çalış, that would be Fethiye Belediyesi, and for Ölüdeniz, the council in Hisarönü. I will keep you updated on the jetski issue as and when anything concrete appears to have been agreed.
Administrator
Posts : 33
19.09.2005 : 15:58:09
this post has been edited 2 time(s)
Well ... you need to be looking at least at the following:
1. Business set up costs: you will need to establish a limited company, of two partners (of any split of shares you wish - it could be 50/50 or 99/1, and those partners do not have to be Turkish). The cost of all the legal bits, drawing up the company articles, registering the business, start up taxes and fees, production of invoices and registry with the tax office etc, and other bits, are usually around 1,500 lira (including the services of someone to run around and do most of the work for you).
2. Application for work permit if you are not a Turkish national and planning to work in your business ... around € 500 Euros. If you do not have one, you cannot work in your company.
3. Rent of premises - even if you are planning to run your business from home, you will be required to show that you have 'rented' premises - so that you can be taxed on that. So if you want to run the business from a spare bedroom, a nominal 'rent' is shown in your accounts and you are taxed on that basis (this tax is called 'stopaj', and is paid mid year at 22% of your annual rent costs). Interestingly enough (I have never managed to get my head around this!), even if you rent premises from a landlord, you are still liable to pay this tax, not him/her!
4. Monthly outgoings (other than running costs etc) are then the following:
a) social insurance payments for one or more of the partners (which is called bağkur) and is usually around 200 lira a month, plus
b) a statutory accountant fee (which is decreed by law and you must have an external accountant) which would probably be another 200 lira (dependent on the value you set on your company at set up and then turnover). Then, if you are going to employ staff, you would also need to pay their social insurance.
So, for the first year, your costs are likely to be around 7 thousand lira (before rent and the associated tax, staff and their insurance, equipment etc):
Start up and work permit for one person: 2,350 lira
12 months of bağkur insurance for one plus accountancy fees: 4,800 lira.
These figures are based on current approximate costs.
If you are living here now and would like to talk to someone about your plans, I'd be happy to run through things. I have an EXCELLENT accountant, and could not run my business without him, as bureaucracy here is so heavy and the rules seem so peculiar, that he handles most things and lets me get on with running my business. He knows that he has to be very clear with me about what I need to pay, to whom, and when, so that I can sleep at night without worrying about anything other than whether my clients are happy (I'm a yacht broker and as far as I can make out, most of what I need to know for my business has nothing to do with all the necessary financial stuff)!
I hope that helps and would be really happy to help in any way I can.
Best wishes
Karen
quote
posted by Guest
Hi, I was interested in reading your comments about setting up a business in Turkey.
We have just bought a property near Fethiye and are considering setting up in the IT service business.
I was wondering what sort of ballpark figure you think would be involved in going down all the avenues you mentioned.
Website Member
Posts : 3
21.09.2005 : 01:34:56
Hi Karen,
Re my guest message:-"Hi, I was interested in reading your comments about setting up a business in Turkey.
We have just bought a property near Fethiye and are considering setting up in the IT service business.
I was wondering what sort of ballpark figure you think would be involved in going down all the avenues you mentioned."
It looks as if you have drawn the short straw when it comes to length of posting messages! Your time and input is much appreciated and of great value. As you will see I am now a signed up member.
I will be coming over to Turkey again in October to finalise and sort out the furnishing of our new home. I anticipate that if my business plan hangs together that a start date after Christmas would be likely.
I have bought a property that has separate self-contained accommodation from where I could effectively run the business. The main part of the villa will generate additional holiday rental income.
I would certainly be interested in taking up your kind invitation to talk to you when I’m over next month if that is OK. I will let you know which dates I’m over as soon as I have sorted out the flights.
Like you I am happy to run all the business aspects but when it comes to accounting and tax matters there is someone trustworthy to oversee and make sure that these are dealt with properly.
Kind regards
John
Administrator
Posts : 33
21.09.2005 : 11:14:20
John:
It's my pleasure! It does all seem like a long complicated process (and I do go on a bit I guess!) but it is definitely better to know about all the costs which pop up unexpectedly. I'm sure you'll have gone through that experience when you were purchasing your house ...
I'm here most of the time and my own office is in Fethiye ... you can contact me via this forum when you are around and we can sort out to meet up.
Best wishes
Karen
Website Member
Posts : 3
21.09.2005 : 11:47:34
Hi Karen,
No you don’t go on a bit… you are factual and to the point, a credit to you.
I look forward to meeting you soon.
Kind regards
John
Website Member
Posts : 3
30.10.2005 : 19:41:25
Hi Karen,
We have received notification that our builder is due to complete the work on our house. We have booked to fly over on the 14th November for a week. If it would be possible to meet around the middle of that week that would be great.
Kind regards
John
quote
posted by aquamarina
John:
It's my pleasure! It does all seem like a long complicated process (and I do go on a bit I guess!) but it is definitely better to know about all the costs which pop up unexpectedly. I'm sure you'll have gone through that experience when you were purchasing your house ...
I'm here most of the time and my own office is in Fethiye ... you can contact me via this forum when you are around and we can sort out to meet up.
Best wishes
Karen
Website Member
Posts : 242
10.11.2005 : 23:22:52
Aquamarina, I would like to know who your accountant is if thats possible? I want to open a business Limited Co and need the best advice possible? thatnks in advance Lynn Martin
Administrator
Posts : 33
15.11.2005 : 17:23:09
Hi John
Apologies ... I haven't had the chance to check into the forum for a few days ... so I hope you pick this up! I'd be delighted to meet up with you this week ... my office number is 0252 612 6807 ... that's Aquamarina Yachts, which is next to the amphitheatre close to the marina in Fethiye.
Hope you do pick this up - and look forward to meeting you.
Best wishes with everything,
Karen
quote
posted by compman
Hi Karen,
We have received notification that our builder is due to complete the work on our house. We have booked to fly over on the 14th November for a week. If it would be possible to meet around the middle of that week that would be great.
Kind regards
Johnquote
posted by aquamarina
John:
It's my pleasure! It does all seem like a long complicated process (and I do go on a bit I guess!) but it is definitely better to know about all the costs which pop up unexpectedly. I'm sure you'll have gone through that experience when you were purchasing your house ...
I'm here most of the time and my own office is in Fethiye ... you can contact me via this forum when you are around and we can sort out to meet up.
Best wishes
Karen
Website Member
Posts : 5
05.03.2006 : 17:07:45
this post has been edited 1 time(s)
user wiped their message
Website Member
Posts : 5
05.03.2006 : 17:09:59
this post has been edited 1 time(s)
Hi,
I'm Turkish and do some property building business in Fethiye -basically reside and run business in İstanbul-, I read and credited your detailed answers on doing business here in Turkey. I'm interested in renting a marine vessel (even don't know if it should be a yacht or a sailing or fishing boat) for private use in Fethiye area for this summer with zero knowledge about this subject, could you please tell me how and where to begin?
thanks
favor
Website Member
Posts : 8
23.02.2008 : 14:13:02
Hi l have a business for sale in fethiye all ready set up and am intrested in selling have not used for any business dealings as yet just needed it to purchase some land have advertised on the forum if intrested give me a call can save you a lot of money and nmessing about regards ray
Hi, I was interested in reading your comments about setting up a business in Turkey.
We have just bought a property near Fethiye and are considering setting up in the IT service business.
I was wondering what sort of ballpark figure you think would be involved in going down all the avenues you mentioned.
Website Member
Posts : 8
23.02.2008 : 14:15:20
hi read my advert on the frum ref business for sale can help you out with this all best ray
We are hoping to move to Fethiye area early 2006 and would like info on obtaining residency, also we would like to set up renting out jet ski's on the beach, how do we go about this? do we need a licence?
Website Member
Posts : 8
08.03.2008 : 11:52:34
will be in fethiye in April to disolve my company?your talking about 1500-2000 pounds to set up with all the payments,all the time have someone wanting a payment or rules change,the only reason we had to form was because change in law again,if intrested contact me all l need is my expenses covering and the companys yours.
Website Member
Posts : 8
08.03.2008 : 11:52:38
this post has been edited 1 time(s)
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