🇹🇷 الامتثال السنوي — Turkey

Underestimating Turkish Lira currency risk and keeping all funds in TRY

Fix: Open multi-currency accounts from day one. Invoice in USD or EUR where possible, and keep operating reserves in hard currency. Convert to TRY only as needed for local expenses.

Choosing an AŞ when a Ltd Şti would suffice, adding unnecessary cost and compliance

Fix: Unless you plan to list on Borsa Istanbul, raise capital from many investors, or operate in a regulated sector that mandates an AŞ, the Ltd Şti is simpler, cheaper, and sufficient for most businesses.

Failing to appoint a local accountant (Mali Müşavir) from the start

Fix: Turkish tax compliance is complex — monthly VAT returns, quarterly advance tax payments, and annual filings are mandatory. Appoint a certified financial adviser (SMMM) before the company begins trading.

Ignoring the requirement to keep statutory books in Turkish

Fix: All legal books and official correspondence must be maintained in Turkish. Budget for translation and a Turkish-speaking accounting team. This is a legal requirement, not optional.