quote:
Originally posted by kizkucuk
Everyone says don't do it - but why not? what's different to having a company in Turkey compared to the UK? Are there any advantages to having a Turkish company? Just interested.
If there are, I can't think of any. There appears to be rules and regulations that none of us understand, or that change for foreigners, and that is just the start of it. If you decide you want to cease trading in future, you pay out for still owning the company unless/until someone else decides they want to take it off your hands and can be like an extra mortgage from your monthly budget. Taxes are almost impossible to follow, and if they hit you, they hit you hard and don't appear to have to explain where they got the figures from.If you don't get it paid, or can't afford to, the interest will cripple you in no time. A Turkish friend said of the Turkish taxman "If you get fined and can't pay it, you'll never be able to pay it", such is the rate of escalation of fines and interest.
I would say that given the choice between setting up a company in the UK and doing the same in Turkey should take a split second. Pay your taxes, pay your NI, and run a business where you understand your incomes and liabilities. Best thing I ever did.