Risks for being foreign company director in Turkey – Nominee Director

January 30, 2023 Gökhan Cindemir 0 Comments

Legal requirements: In some countries, it is a legal requirement for companies to have a certain number of directors on their board, and a nominee director service can help a company meet these requirements.

If the director of a foreign company has not received a work permit, then he may face some significant difficulties. For these reasons, a foreign company director needs to obtain a work permit. It is important to apply for a work permit through the legal legislation of the country and submit the necessary documents.

In Turkey, an employer who hires a worker without proper work permit can be subject to a penalty. An administrative fine is a penalty imposed by a government agency for violating a regulation or law. In the case of an employer hiring a worker without proper work permit in Turkey, an administrative fine may be imposed as a form of punishment for breaking the regulations regarding work permit. In order to obtain a foreign work permit from within the country, those who will apply must have a residence permit for at least 6 months.

The fees for the Work Permit Certificate for the year 2023 vary according to the duration of the work permit. If it is requested to be taken indefinitely, a fee of 30,914.50 TL must be paid. If the period is selected, this permission will need to be renewed.

-Employers who employ a foreigner who does not have a work permit are given an administrative fine of TL 35,815 for each foreigner.

-A person who has not received a work permit may experience difficulties when entering the country or may be blocked when leaving the country.

-A person who has not received a work permit does not have to accept a job or a job offer, since he cannot work legally in the country.

-A person who has not received a work permit may be deported from the country if he cannot provide a valid reason for staying in the country.

-A person who has not obtained a work permit may not benefit from health insurance in the country as long as he enters or stays in the country.

-A person who has not received a work permit may not be exempt from tax and other legal obligations in the country, since he can not legally work in the country.

Privacy: By using a nominee director, the real owners of the company can remain anonymous, which can be useful for protecting personal privacy or for maintaining a low profile for business reasons. Nominee director service is a service in which an individual or company acts as the official director of a corporation on behalf of the true beneficial owner(s) of the company for maintaining privacy and protecting the true owners of a company from being publicly identified.

Asset protection: Nominee director can help protect the assets of the company by ensuring the company’s legal compliance while ensuring the real owners remain anonymous.

Professionalism: Some companies may prefer to have a nominee director with specific expertise or experience to add credibility and professionalism to the company.

Ease of incorporation: Obtaining a nominee director service can make the process of incorporating a company easier and faster, as the nominee director can help with the paperwork and administrative tasks associated with setting up a company. We assist our clients to find nominee director in this sense.

Risks for being foreign company director in Turkey – Nominee Director was last modified: January 30th, 2023 by Gökhan Cindemir