Celikel CPA provides strategic financial consultancy services designed to help foreign investors navigate the Turkish market with confidence. From feasibility studies and cash flow management to mergers and acquisitions support and ongoing performance monitoring, our advisory team works alongside your organization to build sustainable, regulation-compliant financial structures in Turkey.
✓ Licensed CPA Firm Authorized by Turkish Ministry of Finance
✓ Advisory Aligned with Turkish Commercial Code and BRSA Guidelines
✓ Full KVKK (Law No. 6698) and GDPR Data Protection Compliance
Financial consultancy at Celikel CPA goes beyond standard advisory. We view every engagement as a strategic partnership, working to understand your commercial objectives, risk tolerance, and long-term investment horizon before delivering recommendations. Our approach is grounded in Turkish regulatory realities and shaped by the practical needs of foreign investors operating in a dynamic economic environment.
Before committing capital to the Turkish market, investors need reliable assessments of market conditions, projected operating costs, and potential tax liabilities. We prepare comprehensive feasibility reports that include sector-specific market analysis, competitor benchmarking, cost projections covering labor, rent, logistics, and utilities, as well as tax liability validation under the current Corporate Tax Law and VAT framework. These studies serve as the foundation for informed investment decisions and are often required by institutional lenders and equity partners.
Operating in Turkey requires careful attention to currency fluctuations, inflationary pressures, and liquidity cycles. Our advisory team builds cash flow models that account for multi-currency receivables and payables, seasonal revenue variations, and exchange rate scenarios. We also develop risk mitigation strategies that address potential disruptions from regulatory changes, interest rate shifts, and supply chain volatility, helping you maintain operational stability during periods of economic uncertainty.
Controlling operating expenses is essential for maintaining healthy margins in the Turkish market. We conduct detailed cost analyses that examine every line item, from raw material procurement and labor costs to administrative overhead and logistics expenses. Our recommendations focus on identifying inefficiencies, renegotiating vendor contracts, optimizing workforce allocation, and implementing cost-tracking systems that provide real-time visibility into spending patterns. The objective is measurable margin improvement supported by data, not assumptions.
Turkey offers a range of investment incentive programs that can meaningfully reduce the cost of doing business. We help investors identify and apply for relevant programs, including TUBITAK R&D grants, Teknokent (Technology Development Zone) tax exemptions, regional investment incentive certificates issued by the Ministry of Industry and Technology, and KOSGEB support programs for SMEs. Each incentive application is prepared with the financial documentation and compliance frameworks required by the administering authority [1].
Foreign investors entering the Turkish market face a regulatory landscape governed by multiple authorities and legislative frameworks. Effective financial planning requires a thorough understanding of the Turkish Commercial Code (TCC, Law No. 6102) [2], the Banking Regulation and Supervision Agency (BRSA) [3], and the Capital Markets Board (CMB) [4] guidelines that apply to different business activities and capital structures.
We advise on capital allocation strategies that align with both your global corporate structure and Turkish legal requirements. This includes determining the appropriate share capital for company formation, structuring shareholder loans versus equity contributions, and planning capital increases in compliance with TCC provisions. For entities subject to CMB oversight, we assist with regulatory capital adequacy planning and reporting obligations.
Repatriating profits from Turkey to a parent company abroad involves navigating withholding tax obligations, double taxation treaty provisions, and transfer pricing documentation requirements. We prepare transfer pricing reports in accordance with the OECD Transfer Pricing Guidelines as adopted by the Turkish Revenue Administration (GIB), ensuring that intercompany transactions are documented at arm's length and that dividend distributions are structured to minimize unnecessary tax leakage while remaining fully compliant.
Many foreign-owned entities in Turkey maintain receivables and payables in multiple currencies. We provide advisory on foreign currency position management, hedging considerations, and the financial reporting implications of currency translation under Turkish Accounting Standards (TAS) and IFRS. Our team also monitors Central Bank of the Republic of Turkey (CBRT) [5] regulations that may affect foreign currency borrowing limits and conversion requirements.
Financial planning for foreign investors often requires coordination across multiple regulatory bodies. Our team maintains working knowledge of BRSA banking regulations, CMB capital market rules, CBRT monetary policy instruments, and Ministry of Trade foreign direct investment reporting. This cross-regulatory awareness allows us to identify potential compliance gaps early and structure your financial operations to satisfy all applicable requirements from the outset.
For investors who are at the initial stage of establishing a legal entity in Turkey, our company formation services cover the entire incorporation process, from trade registry applications to tax office registrations. Financial planning and company formation often proceed in parallel to ensure the chosen corporate structure supports your long-term financial objectives.
Acquiring or merging with a Turkish entity requires meticulous financial analysis to avoid costly surprises. Celikel CPA provides end-to-end financial advisory support throughout the M&A lifecycle, from initial target screening to post-acquisition integration.
We perform comprehensive financial due diligence on target companies, examining historical financial statements, tax compliance records, outstanding liabilities, contingent obligations, and the quality of reported earnings. Our analysis identifies potential red flags such as unrecorded liabilities, aggressive revenue recognition, or tax positions that may be challenged by the Revenue Administration.
Beyond standard financial review, we evaluate the target's operational efficiency, customer concentration risk, supplier dependency, workforce structure, and intellectual property portfolio. This operational layer of analysis helps investors understand what they are acquiring beyond the balance sheet and supports more accurate valuation.
In coordination with legal counsel, we verify the target company's standing with the trade registry, tax authorities, and social security institution. This includes confirming that all statutory filings are current, that there are no outstanding liens or encumbrances on key assets, and that the entity's corporate governance documentation complies with TCC requirements.
After the transaction closes, we support the financial integration process. This includes aligning the acquired entity's chart of accounts with the parent company's reporting framework, consolidating financial reporting processes, establishing intercompany billing and transfer pricing structures, and configuring compliance workflows for the combined entity. Our goal is to ensure the newly merged operation functions smoothly from a financial and regulatory perspective.
Establishing and maintaining productive banking relationships in Turkey can be challenging for foreign investors, particularly during the initial setup phase. Celikel CPA provides practical support across the full spectrum of banking interactions.
Opening a corporate bank account in Turkey as a foreign-owned entity requires specific documentation, including notarized board resolutions, trade registry excerpts, tax registration certificates, and beneficial ownership declarations. We guide you through the documentation requirements of major Turkish banks, help prepare the necessary paperwork, and coordinate with bank compliance departments to facilitate a smooth account opening process.
When your business requires financing, we assist with the preparation of loan application packages that meet Turkish banking standards. This includes preparing financial projections, cash flow forecasts, collateral documentation, and business plans formatted according to each lender's requirements. We also help evaluate loan terms, interest rate structures, and repayment schedules to ensure the financing arrangement aligns with your overall financial plan.
Maintaining healthy banking relationships requires ongoing communication and timely delivery of financial information. We act as an intermediary between your company and banking partners, providing regular financial updates, responding to bank audit requests, and ensuring that covenant requirements and reporting obligations are met throughout the lending relationship.
For businesses managing high-volume payment flows, we provide advisory on treasury management, payment automation, and bank fee optimization. We also assist with the setup of multi-bank cash pooling arrangements and foreign currency payment channels that comply with CBRT regulations and MASAK (Financial Crimes Investigation Board) reporting requirements.
Different sectors in Turkey present distinct financial challenges and incentive opportunities. Our advisory services are tailored to the regulatory and commercial realities of each industry.
Advisory on regional investment incentive certificates, organized industrial zone (OSB) benefits, customs duty exemptions for imported machinery, and VAT deferral mechanisms available to manufacturing entities. We also assist with cost accounting systems and production-line profitability analysis.
Support for companies operating in or considering Teknokent (Technology Development Zones), including income tax exemptions, corporate tax reductions on R&D activities, TUBITAK grant applications, and software export incentives. Our advisory covers the financial structuring required to maximize these technology-sector benefits.
Financial consultancy for property investors covering title deed tax planning, rental income structuring, VAT implications of commercial property transactions, and the financial modeling required for development projects. We also advise on real estate investment trust (REIT) regulations for larger portfolio investors.
Advisory services for renewable energy and infrastructure projects, including financial modeling for build-operate-transfer (BOT) arrangements, YEKDEM feed-in tariff planning, EMRA licensing financial requirements, and project finance structuring. We assist with the financial documentation required for energy sector regulatory approvals.
Financial consultancy is not a one-time engagement. At Celikel CPA, we provide continuous financial monitoring that keeps you informed about your company's performance and compliance status throughout the year.
We prepare financial reports in both Turkish and English on a monthly and quarterly basis, ensuring that both your local management team and international headquarters have timely access to accurate financial data. Reports cover income statements, balance sheet summaries, cash flow analysis, and budget variance commentary, formatted to meet the requirements of your parent company's reporting calendar.
We configure and maintain financial performance dashboards that track the key performance indicators most relevant to your business. Common metrics include gross margin trends, working capital ratios, accounts receivable aging, operating expense as a percentage of revenue, and EBITDA progression. These dashboards are updated regularly and presented in a format that supports data-driven decision-making at both operational and board levels.
Our financial monitoring services are designed to integrate seamlessly with our accounting services. When the same team handles both your statutory accounting and management reporting, data consistency is maintained, reconciliation time is reduced, and your financial picture is always current and reliable.
Engaging a locally based financial advisory firm offers practical advantages that remote or offshore advisory arrangements cannot replicate. Below are three key reasons why foreign investors working in Turkey benefit from a local financial consultancy partner.
Turkish financial regulations change frequently, with new communiques, circulars, and legislative amendments published regularly in the Official Gazette. A locally based advisory team monitors these developments in real time and adjusts your financial strategies accordingly. This proactive approach helps prevent compliance gaps that can lead to penalties, delayed filings, or missed incentive application windows.
Working with Turkish banks, tax authorities, and regulatory bodies often requires communication in Turkish, familiarity with local administrative processes, and in-person presence at government offices. Our team manages all institutional correspondence on your behalf, translating complex regulatory language into clear, actionable guidance in English. This eliminates communication barriers that can slow down critical financial processes.
A local advisor who understands both the Turkish market and international business practices is uniquely positioned to identify growth opportunities. Whether it is a new regional incentive program, a sector-specific grant, or a potential acquisition target, our team provides strategic recommendations that are grounded in firsthand market knowledge and supported by quantitative financial analysis.
Financial consultancy is most effective when it operates within a broader professional services framework. At Celikel CPA, our financial advisory clients benefit from seamless access to our full range of services, including company formation, accounting, tax services, payroll, audit services, and consulting services. This integrated approach ensures that every financial recommendation is aligned with your accounting records, tax position, and overall corporate strategy.
The financial consultancy practices and regulatory frameworks referenced on this page are grounded in the following official Turkish institutions and legislation: