D&B Report Guide - Turkey

Facts and figures:

Country Turkey
Business Universe approx. 600,000
International Dialling Code 90
Legal Currencies Turkish Lira (TL)
Population (July 2002 est.) 67,308,928
Capital Ankara
Language Turkish
Time GMT +2

D&B Business Information Report content:

D&B Rating Yes Credit Appraisal Yes
Public Data Yes Financial Ratios Yes
D&B Payment Score n/a    

Legal forms in Turkey:

Legal Form Legal Form (local)
Proprietorship Sahis Firmasi
Partnership Adi Ortaklik and Kollektif Sirket
Limited Partnership Adi Komandit Sirket and Payli Komandit Sirket
Co-Operative Kooperatif
Private Limited Co Limited Sirket
Public Limited Co Anonim Sirket

 

  Name
Address
Principals		 Reg Date
Number
Start Date		 Capital
(minimum)		 Ownership
(minimum number)
Proprietorship Yes Yes None 1
Adi Ortaklik Yes Yes None 2
Partnership Yes Yes None 2
Limited Partnership Yes Yes None 2
Payli Komandit Sirket Yes Yes None 5
Co-Operative Yes Yes None 7
Private Limited Co Yes Yes 500,000,000 TL 2
Public Limited Co Yes Yes 5,000,000,000 TL 5

'None' means that there is no minimum capital requirement for these types of companies.

Private Limited Companies and Public Limited Companies have to increase their minimum capital to 5,000,000,000 TL and 50,000,000,000 TL, respectively, until 31 December 2002. Non-compliance with this requirement will be subject to a fine.

Legal filing requirements:

It is not compulsory for Proprietorships to prepare formal financial statements provided that their annual sales figure does not exceed 75,000,000,000 TL. If annual sales exceeds 75,000,000,000 TL, they have to submit balance sheet and income statement to the tax authorities. These statements are only available if the company discloses them.

For Partnerships, Limited Partnerships, Co-operatives and Private Companies, financial statements are only available if a company discloses them. For Public Limited Companies, financial statements are available if the company is listed on the Istanbul Stock Exchange. If not, they are only available if the company discloses them.

D&B Business Information Report - data sources and data elements:

Here is a breakdown of information available in Turkey and where this information is obtained from.

Trade Registrar's Office and Trade Registry Gazette:

  • Registration date/Registry number
  • Articles of Association
  • resolutions of the annual shareholders meetings
  • shareholders and percentage of shares held
  • recent capital increase decision

Direct telephone interview:
  • bankers
  • principals and antecedents
  • activity/market territory
  • corporate history & structure
  • client type and number
  • number of employees
  • premises/branches/divisions
  • subsidiaries & affiliates
  • expansion plans
  • balance sheets/profit & loss/projected sales

Business publications and news clippings:
  • news articles concerning the subject company and its shareholders
  • public court resolutions
  • protested bills
  • uncovered cheques
  • bankruptcies
  • legal suits
  • other legal restrictions and charges

D&B Business Information Report - Glossary of Terms

D&B Rating:

A unique two-part indicator showing the financial strength of a business concern, based upon the tangible net worth and the level of risk associated in dealing with it, derived from all the pertinent credit risk information held on the company.

 

Credit Appraisal:

The highest average outstanding credit an unsecured creditor should extend based on a maximum term of one month.

 

Ratios:

Current - Cover by current assets of short-term creditors.

Solvency - Shows the extent to which the company is financed by creditors and debt.

Fixed Assets to Net Worth - The proportion of Net Worth that consists of fixed assets.

Current Liabilities to Net Worth - Contrasts funds risked by creditors.

Asset Turnover - Measures efficiency of company management in generating sales from assets at its disposal.

Sales to Working Capital - Indicates if a company is overtrading.

Assets to Sales - Correlates sales with total assets used to generate those sales.

Profit Margin - Indicates profits earned per sale and measures efficiency of operations.

Shareholders’ Return - Analyses the ability of management to realise an adequate return on owners’ investment.

Return on Assets - Indicates a company's profitability.

 

D&B Rating Key

 

Part one: The financial strength indicator

For Turkey, the D&B Rating thresholds are:

 

Rating

Company net worth in US Dollars

From

To
5A Over 60,000,000
4A 25,000,000 60,000,000
3A 12,000,000 25,000,000
2A 2,500,000 12,000,000
1A 1,200,000 2,500,000
A 600,000 1,200,000
B 345,000 600,000
C 175,000 345,000
D 120,000 175,000
E 60,000 120,000
F 35,000 60,000
G 15,000 35,000
H Up to 15,000
N Negative net worth
NQ The company ceased trading
NB New business and not possible to rate yet
O No financial net worth know due to legal business type (non-corporate)
- Undetermined

Part Two: The risk indicator

Indicator
1 Minimal trading risk
2 Less than average risk
3 Higher than average risk
4 High risk
- Insufficient information

Speed of service: 3 working days

Should you require any further information or have any questions, please contact your local Customer Service Centre.

Business Information Report enquiries which are placed with D&B's Emerging Markets Centre should always contain the below details. Unfortunately, enquiries without the below information have a much higher chance of being returned as an Unable To Locate Report. This is simply due to the fact that data sources in the Emerging Markets are not as sophisticated as those in Western Europe.

  • Full Company Name
  • Full Head Quarters Address (street, town, country)
  • Telephone Number
  • Fax Number

Any additional information such as a contact name or line of business would also help to locate the subject of your enquiry.