If you are working free and want to bill your customers or if you plan to open a business physically, the quick and inexpensive method for you is to set up a Personal Company.
What is a Company?
The number of partners is generally small and the share transfer is a bit difficult. Any shareholder cannot assign his responsibilities to a different partner unless all the partners in the company of the company give consent. The responsibilities of a partner who leaves the company continue for a certain period of time. Personal enterprises are divided into two groups as Collective Company and Commander Company.
Required Documents to Establish a Company
- Copy of identity card
- Location Document (Residence)
- Notarized Signature Circular
- Rent Contract (Rent a lease or rent a tabu if the property belongs to you)
How much is the cost of establishing a company?
The declaration of signature to be taken from the notary public, the notary’s accounting power to be obtained from the notary public, the free accountancy fee, the tradesmen room and the amount you will pay for the registration to the chamber of commerce are approximately 1000 TL. If you are not going to operate in a specific line of business prior to installation, you will not have a different cost.
How to set up a company?
After collecting the necessary documents, you can complete the installation process by petitioning the tax office related to the opening of the company.
Individual Company Expenses
The taxes and various expenses that are paid regularly in the monthly or longer period of time after the establishment of the individual enterprise are as follows.
- Value Added Tax of the products you sell each month (VAT)
- Every month if the employee has SGK premium
- If the business owner does not have any other insurance, Bağ-Kur premium
- Withholding tax every three months
- They certify a legal book a year
- Every year the membership fee
- Municipality Taxes (Ad, light, advertising tax, etc.)
- Financial advisory fee
Which Company Pays Taxes?
There are 5 different tax types that individual companies are obliged to pay. These;
- 3 Monthly Income Tax
- Annual income tax
- Stamp duty
What to do with the Company?
Since you are a taxpayer after installing the company, you can do all legal and license-free jobs. You can open a physical store by renting a shop on a street or you can sell your products at home. Personal companies are generally preferred for those who have additional business activities. After the owner of the company will have a tax number, you can sell your products via marketplaces like n11. If you want, you can take a look at our topic titled How to Make Money Without Capital. If you are not looking for e-commerce, you can go to different options. If you want to do different jobs over the Internet, you can review our article entitled “Monetization Methods on the Internet”.
If you don’t want to do a job on the Internet, you can step into different jobs according to your capital. You can be directed to areas where there is a lot of demand that your hand is prone to, such as selling raw meatballs or individual hairdressers.
How is the company closed?
It is as simple as closing up the company of the company. If there is no debt of the company and no legal proceedings are in question, the operation of the company may be legally terminated by petitioning the tax office as in the installation. If you are using a cash register, you need to do the closing process. Again, you must hand over the invoices and other official documents to the tax office. Deletion of the room registration is the stages involved in the closing process in the processes such as the SGK exits of the working personnel.
Other Points to Know
- Having a fixed address is the most important requirement of the company. Whether you are renting a shop, you can notify the address of this place. You can report your home address by declaring that you are working freely. Even if one of the family members has a workplace, you can use that address;
- Your company address is not required to be located in the province where you live. You can use that address by renting a virtual office or a shared office.
- You can follow the basic accounting procedures yourself. However, you have to work as a financial advisor in the company or you must work with a Free Financial Advisor.
- It may vary depending on the size of the company you will pay to the Free Financial Advisor. The number of staff that you run again affects the monthly fee you will pay to the accountant. A company running 2-3 people makes a monthly payment of 300 TL.
- Persons under the age of 18 may establish a Personal Company. But legally the company’s manager must be Mother or Father.
- A civil servant cannot establish a Personal Company. Anyone who retires from retired pensioners or from different business lines can establish a Personal Company and not have to pay the premium.
- An existing Limited company owner or partners can establish a Personal Company.
- Personal companies have to register to the chamber of tradesmen and craftsmen in the occupational group in which they serve. It is also mandatory to register the Chamber of Commerce.
- SGK is notified if workers are to be employed. (This action is followed by your accountant)