Financial Advisory · Company Formation
Starting right means
laying the groundwork
for what's ahead.
From entity type selection to capital structure, from tax registration to e-transformation integration; correctly managing the financial side of the formation process from the very start reduces risk and cost in the periods ahead.
(JSC/LLC/Sole)
Professional Framework
FORMATION
Financial Structuring Advisory
Scope of Service
Company formation is not merely a matter of trade registry and notary procedures. The financial dimension encompasses entity type selection, capital structure, tax registration, accounting infrastructure and the setup of e-transformation systems. Skipping these steps or getting them wrong comes back as correction costs down the line.
Choosing between an LLC, joint stock company or sole trader is not only a legal decision — it is also a tax decision. Ownership structure, profit distribution policy, future investment plans and the possibility of applying for incentives directly influence this choice.
Akbaş provides advisory from start to finish on the financial side of the formation process. Since trade registry and notary procedures fall within the legal scope, coordination with the relevant specialists is arranged for those steps; accounting, tax and SGK steps are managed by Akbaş.
Service Areas
Six components, complete setup from scratch.
The financial side of company formation does not consist of a single step. The components below are managed during the formation process and in the first period that follows.
Entity Type Selection Advisory
Assessment of the tax, legal and financial dimensions of the choice between JSC, LLC or sole trader; determination of the most appropriate structure.
JSC, LLC, Sole Trader, Cooperative
Comparative analysis report
Capital Structure and Ownership Distribution
Determining the capital amount, assessing the tax impact of ownership ratios, and evaluating the forward-looking implications of share distribution from a financial perspective.
Capital amount, share ratio, profit distribution
Financial perspective assessment
Tax Registration with GIB
Tax office registration in the company's name, obtaining a tax number, and managing the taxpayer registration process in GIB systems.
Tax ID, taxpayer type selection
Following trade registry registration
SGK Workplace Registration
If employees are to be hired, opening the SGK workplace file; determining the workplace hazard class and preparing for the first hire.
SGK workplace number, hazard class
Before first employee
Accounting Infrastructure Setup
Creating the chart of accounts, installing and configuring accounting software; preparation for the first filing period.
Chart of accounts, software installation
Ready accounting infrastructure
E-Transformation Application and Setup
Applications to e-invoice, e-ledger and e-archive systems; GIB integration and management of the first e-document creation process.
E-invoice, e-ledger, e-archive (obligation check)
Concurrent with operations
Working Model
From formation to operations,
every step planned.
The financial side of company formation begins before trade registry procedures are complete and is finalised before the first tax period begins. Each step directly affects the next.
Entity Type and Structure Analysis
The entrepreneur's goals, capital plan, ownership structure and field of activity are assessed. The tax and financial implications of the entity type choice are presented comparatively. A notary referral is made for trade registry procedures.
Tax Registration and Taxpayer Registration
Following trade registry registration, the tax office taxpayer registration is managed. Accounting software is installed; GIB authorisations are obtained. A company-specific chart of accounts is created.
SGK Workplace Registration and Personnel Preparation
If employees are to be hired, the SGK workplace file is opened. Payroll infrastructure is set up; minimum employment requirements are determined. Preparation for the first hire is completed.
E-Transformation Systems and GIB Integration
Applications to e-invoice, e-ledger and e-archive systems are submitted based on the company's obligation status. GIB integration is completed; the transition from testing to live use is managed.
First Period Accounting and Return Tracking
Once the company commences operations, the first accounting cycle is initiated. First VAT, withholding tax and other returns are filed on time. Risks and opportunities specific to a newly established company are assessed.
Practical Example
From formation to operations,
a 30-day roadmap.
The calendar below summarises the financial steps of forming a single-member LLC. Legal steps (notary, trade registry) are outside the scope; the focus is on the financial preparation process.
Entity type selection and capital decision
- Formation model is determined; tax assessment is completed before visiting the notary
- Capital amount and ownership ratios are finalised
Trade registry and notary procedures
Legal process — notary referral
Tax registration and taxpayer registration
- Tax office registration after the trade registry gazette is published
- Taxpayer record created in GIB systems
SGK workplace registration (if hiring)
- SGK workplace file opened
- Workplace hazard class determined
Accounting infrastructure and e-transformation
- Accounting software installation
- E-invoice and e-ledger application (if required)
- Chart of accounts created
Preparation for first filing period
- VAT and withholding tax return schedule set up
- BA/BS notification tracking initiated
ENTITY TYPE GUIDE
Type selection determines liability.
Each entity type carries different tax and SGK obligations. Assessing the financial structure before selecting an entity type is critical.
Frequently Asked Questions
Common questions about
company formation.
LLC or JSC? Which entity type is more advantageous?
Both entity types have distinct advantages. An LLC can be established with lower capital (TRY 10,000) and is more flexible to manage. A joint stock company requires higher capital (TRY 50,000) but offers greater flexibility in terms of share transfer and corporate governance; it is preferred particularly by companies seeking investors or planning to go public. Both types may be eligible for investment incentive certificates. The right choice is determined by the company's growth plan and ownership structure.
Should I set up as a sole trader or as an LLC?
A sole trader (also referred to as a sole proprietorship) offers simpler setup and management; however, there is no protection of personal assets and it is subject to income tax. With an LLC, the partner's liability is limited to their capital contribution; it is subject to corporate tax. The scale of operations, investment incentive plans and long-term objectives directly influence the entity type decision. Akbaş provides an impartial assessment of this decision from a financial perspective.
Should I set up the accounting infrastructure after formation?
No; setting up the accounting infrastructure concurrently with formation is critical. Accounting software, the chart of accounts and e-transformation systems must be ready before the first invoice is issued, the first employee is hired and the first return is filed. Retroactive setup creates the conditions for both errors and the risk of penalties. Akbaş begins planning the financial side of the formation process before the visit to the notary.
Is there an e-invoice obligation, and when should I switch?
The e-invoice obligation is determined by GIB for companies exceeding certain turnover thresholds. Newly established companies generally do not fall within this scope at the outset; however, proactive preparation is recommended taking growth scenarios into account. Voluntary adoption provides cost savings and efficiency gains. Calculating the likely obligation date during the formation stage and setting up the e-transformation infrastructure in advance eliminates the risk of a rushed transition later.
At which steps of company formation is a CPA required?
Legal steps (articles of association, notary, trade registry) fall within the scope of a lawyer or notary. A CPA becomes involved for tax registration, accounting infrastructure setup, SGK workplace registration and e-transformation systems. In addition, the tax dimension of entity type selection, the impact of the capital structure on profit distribution, and preparation for the first filing period also fall within the CPA's advisory scope. Akbaş manages all financial steps in the formation process that do not involve the notary.
formation advisory
Start your company formation on the right foundation.
From entity type selection to accounting infrastructure; we invite you to a meeting to correctly manage the financial side of the formation process from the very start.
Request a MeetingNext Step
Build your company
on the right foundation.
From entity type selection to the first tax period — we invite you to a meeting to correctly manage the financial side of company formation from the very start.