Turkey is only two or three hours from many major European destinations, and it's often seen as a bridge between the European Union (EU) and Asia. With tax and non-tax incentives for...
Read MoreTurkey is only two or three hours from many major European destinations, and it's often seen as a bridge between the European Union (EU) and Asia. With tax and non-tax incentives for foreign investors, Turkey is friendly to foreign incorporation and is a great location for companies looking to expand.
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Turkey is only two or three hours from many major European destinations, and it’s often seen as a bridge between the European Union (EU) and Asia. With tax and non-tax incentives for foreign investors, Turkey is friendly to foreign incorporation and is a great location for companies looking to expand.
However, expansions also come with challenges such as setting up payroll. As a global PEO, Globalization Partners offers Turkey payroll outsourcing to help you start working faster without the hassle of compliance. We’ll act as an extension of your team and handle everything from hiring employees to sourcing the right benefits.
Employers and employees in Turkey have to contribute social security premiums, but employers pay both portions by deducting taxes from the employee’s salary. Tax contributions include:
You have several Turkey payroll options to choose from, including:
You cannot start setting up your Turkey payroll until you have a subsidiary in the country. A subsidiary will allow you to operate much like a resident company and let you hire employees and choose a Turkey payroll option. That said, it can take anywhere from a few weeks to a few months to register your subsidiary. Fortunately, Globalization Partners can cut that time down to as little as a day by using our existing subsidiary.
Turkish labor law includes complicated entitlement and termination terms that you should include in an employment contract before setting up your payroll. Employers are only allowed a maximum two-month probation period, during which time you can terminate an employee without any penalties. Termination severance packages are often steep in the country, and notice periods depend on how long the employee has worked for the company.
Globalization Partners will help you get started working in Turkey fast. Contact us today for more information about Turkey payroll outsourcing.
If you’re ready to grow your business, or you have questions about a specific country, complete the form. One of our experts will be in touch shortly.
