2. ECONOMY OVERVIEW
REGION
Europe & Central Asia
INCOME
CATEGORY
Upper middle income
POPULATION
73,997,128
GNI PER CAPITA (US$)
10,830
CITY COVERED
Istanbul
3. DOING BUSINESS
DOING BUSINESS
2014 RANK
2013 RANK***
69
72
DOING BUSINESS
DOING BUSINESS
2014 DTF** (%
POINTS)
65.68
3
2013 DTF** (%
POINTS)
66.93
CHANGE IN RANK
IMPROVEMENT IN
DTF** (% POINTS)
1.25
4. TOPICS
Starting a Business
DB 2014
DTF** (%
points)
DB 2014
Rank
Improve
ment in
DTF**
(%
points)
DB 2013
DTF**
DB 2013 (%
Change
Rana
points)
in Rank
93
87.69
73
88.25
-20
-0.56
148
66.62
147
64.93
-1
1.69
Getting Electricity
49
84.22
67
77.40
18
6.82
Registering Property
50
75.90
42
77.10
-8
-1.20
Dealing with
Construction Permits
Getting Credit
86
56.25
82
56.25
-4
No
change
Protecting Investors
34
63.33
67
56.67
33
6.66
Paying Taxes
71
76.83
74
76.89
3
-0.06
Trading Across
Borders
86
69.93
85
69.44
-1
0.49
Enforcing Contracts
38
64.95
38
64.95
Resolving Insolvency
130
23.62
126
24.96
No
change
-4
No
change
-1.34
5. STARTING A BUSINESS
Indicator
Turkey
Procedures (number)
Europe & Central Asia
OECD
6
5
5
6.0
12.8
11.1
Cost (% of income per
capita)
12.7
6.7
3.6
Paid-in Min. Capital (% of
income per capita)
13.2
3.5
10.4
Time (days)
No. Procedure
Time to Complete
Associated Costs
1
Execute and notarize company documents
1 day
Paper cost: TL 120 Notarization of the
Articles of Association (5 copies): TL 600
Notarization of the signature declaration of
the manager: TL 60 Total = TL 780
2
Deposit a percentage of capital to the
account of the Competition Authority
1 day
0.04% of capital
3
Deposit at least 25% of the startup capital
in a bank and Obtain proof thereof
1 day
no charge
2 days
TL 175 (initial registration fee of Chamber
of Commerce) + TL 745 (commercial
registration including first manager’s
signature) + TL 250 (for each additional
manager) + TL 0.33 per word for
publication+ TL 2 (Trade Registry Gazette
fee)+ TL 55 (fee for s
1 day (simultaneous with previous
procedure)
TL 332.40 (6 books) Yevmiye Defteri (100
sheets) : TL 58.88 Defter-i Kebir (100
sheets) : TL 58.88 Envanter Defteri (100
sheets) : TL 58.88 Ortaklar Pay Defteri (100
sheets) : TL 58.88 Karar Defteri (78 sheets):
TL 48.44 Genel Kurul Toplantı Ve Müzakere
D
4
Apply for registration at the Trade Registry
Office
* 5 Certify the legal books by a Notary Public
Follow up with the tax office on the
6. GETTING ELECTRICITY
Indicator
Turkey
Procedures (number)
Time (days)
Cost (% of income per
capita)
N
o.
Europe & Central Asia
OECD
4
6
5
70
146
89
475.3
486.6
79.1
Procedure
Time to Complete
Associated Costs
1
The client hires an electrical engineer
to prepare connection scheme, applies
for electricity connection to, awaits
estimate of connection fees from, and
signs connection agreement with
BOĞAZĠÇĠ ELEKTRĠK DAĞITIM A.ġ.
(BEDAġ)
37 calendar days
TRY 4,202.3
2
The client obtains an excavation permit
from Istanbul Municipality
8 calendar days
TRY 200.0
3
The client receives external works by a
private firm/ electrical engineer(s)
registered with the Chamber of
Electrical Engineers (EMO)
18 calendar days
TRY 82,500.0
4
The client submits Electricity Structural
Project and awaits meter installation
and final connection from Boğaziçi
Elektrik Dağıtım A.ġ. (BEDAġ)
7 calendar days
TRY 3,338.7
7. REGISTERING PROPERTY
Indicator
Turkey
Procedures (number)
Europe & Central Asia
OECD
6
6
5
Time (days)
6.0
26.5
24.1
Cost (% of property value)
4.0
2.8
4.4
No. Procedure
Time to Complete
Associated Costs
1
The buyer conducts a non-encumbrance check on the
property
1 day
no cost
2
Managers obtain an authorization certificate of their
authority to conduct transactions on companies’ behalf
1 day
TL 29.80
3
Obtain an earthquake insurance policy, or amend the
existing one
1 day
no cost (unless a new insurance
is needed)
4
Parties apply for registration and obtain tax payment
assessment
1 day
no cost
5
Registration fee is paid at a commercial bank
1 day
TL 175 (registration fee) + 4% of
declared transaction price
(mortar dues) or 4% of the
taxable value of the real estate
(whichever is higher)
6
Transaction is completed at the registry office
1 day
Already paid in Procedure 5
