Company Name and Activity Codes — How Early Mistakes Can Hinder Your Business

  POST SERIES: "How a Foreigner Can Start a Business in Turkey"

Many underestimate the importance of choosing a company name and activity codes (NACE/OKVED), yet these elements determine whether your business can operate smoothly in Turkey.

The company name must be unique, compliant with the law, and reflective of your core activity. The first two words are legally protected — they become the "face" of your business.

Mistakes at this stage can lead to registration refusals, conflicts with other brands, and even litigation. A good name is already half of your branding and is a significant factor when opening a bank account.

NACE codes (the equivalent of activity classifications) define the sectors in which your company may operate. They directly affect taxation, licensing requirements, access to POS terminals, export privileges and even the ability to open a business bank account.

If you select the wrong code, you may:

• fail to obtain necessary permits;

• pay higher taxes;

• be denied access to banking products and services;

• be ineligible for subsidies or incentives.

We recommend determining all potential lines of business in advance, even if you plan to start with only one activity.

Adding codes after registration leads to extra costs, bureaucracy and delays.

Choose wisely — it is an investment in flexibility and growth.