Frequently Asked Questions
1- Is Turkey an ideal country to invest?
Investing in a foreign country is always harder then you think and how it seems like. It does not matter which one it is, Turkey or another.
Each and every country has its own demographic, market, economic, traditional conditions and local approaches these all must be considered very carefully.
Turkey has its own business nature, structures and conditions. We think it is a country between and mixed east and west in every meaning.
You need to make sure you checked following points:
Are you sure there is a real market for your product or services? Or you just want to think this way.
Are you sure you are really able to be a player on this market?
Is your business plan really profitable after you considered all parameters of investment atmosphere?
Do you have enough knowledge about local conditions to create local policies?
Do you have a strong team, employees and local solution partners to operate your business in Turkey?
Are you sure you very understood that things are not simple like how it seems on guides and webpages and that is same for each and every countries?
If you checked all of these and all answers are positive, yes! Turkey is a great country to invest and you are ready to call us.
2 - What is official-legal form of Istanbul Accountants Co.("IAC")?
Istanbul Accountants Co. ("IAC") is officially registered company and located in Istanbul / Turkey.
IAC' s official title is "Okan Denetim Yeminli Mali Musavirlik Ltd. Sti.". This title means "Okan Audit and Sworn - in Financial Advisory Services Limited Co. Besides IAC have 2 more legal companies to run their business legally. IAC provides services to foreigner investors with 4 offices, more than 40 certified employees and international solution partners in Istanbul since 1997.
3 - What is the biggest difference of IAC services?
IAC provides boutique service. IAC appoints to each and every of its clients an English Speaker very experienced contact partner and make sure this partner will not change for long term that is something many of other service providers generally cannot do.
In IAC once you start to work with a team you always go on with that team in decades. Besides IAC very knows foreign investors' sensitivity about availability, stability, straight right answer, on time reporting and provides them. For more details please see "How We Do" page.
4 - Are there any acceptance criteria of IAC for new clients?
Yes, IAC have some rules before acceptance an individual or a company as a new client.
More than 90% of IAC foreigner clientele is based on UK, EU, US and Canada group of companies. This heavy responsibility and experience make IAC to put some criteria to accept a new client.
Candidates must introduce their self, their purpose properly and understandable in first contact.
After proper introduction, information (phone, mobile, e-mail, address, company existence etc.) of the candidate will be inspected by IAC team. This inspection does not take much time.
If IAC team convinces that the candidate has a real plan about doing business in Turkey, redirects the candidate to a partner of IAC.
IAC's partners maintain negotiation with candidate. After negotiation IAC board will decide to accept a candidate as a client or not, if the candidate agrees to go on with IAC too.
5 - How does IAC charge?
IAC service fees is reasonable. Pricing are very normal.
IAC always offer acceptable and minimum prices for best services. That is why many of group of companies from UK, US, Canada and EU are working with IAC more decades.
IAC is not cheapest of the town but provides minimum coststo do your business properly.
6 - With how many and what kind of corporates does a new company have to make an agreement to run their business?
Companies have to make an agreement with an accountant before set up a company. There is no exemption for this according to Turkish Tax Method Code and Certified Public Accountancy Code.
If a Turkish company will make import or export have to work with an customs agency as to Turkish Customs Law.
Contract with a lawyer is optional for companies.
7 - Can Clients access their figures and financial on time and whenever we want? Does IAC prepare financial statements the way Clients can read?
UK, US, EU and Canada group of companies generally ask their figures monthly and in 5-10 days of following months in accordance with Financial Reporting Standards they ordered at the beginning. "Reporting Financials to Foreigner Companies' HQ" is one of the IAC main business since 1997.
IAC keeps your books-records according to local laws, adjust figures according to Financial Reporting Standards you ask (it could be IFRS, US GAAP, Dutch GAAP, German GAAP, Company's Private Standards etc.) and send you whenever you want as to your timetable. We prepare monthly, yearly financial statements and reports according to your company's financial statement drafts. We very know how important "right reporting on time" for your activities. Our clients can reach any document, record and financial statement anytime they want. Optionally you can use your own online software and see your figures moment by moment.