Company setup in Turkey is open to foreign investors, who may own 100 percent of a Turkish company with the same rights as a local founder. The most common structure is a limited liability company, which a single shareholder can form. Registration usually takes around a few days to two weeks once your documents are ready. This guide explains how to open a company in Turkey step by step: the company types, the paperwork, the costs and the registration process, so you know what to expect before you start.
What Company Setup in Turkey Involves
Company setup in Turkey means registering a formal business entity with the Turkish Trade Registry (Ticaret Sicil Mudurlugu) so it can trade, sign contracts, hire staff and pay tax. Once registered, your company receives a tax number, a registry number and an entry in MERSIS, the central registry system that links the trade registry, the tax office and the notaries. From that point the business is a separate entity in its own right, distinct from you as the owner.
Foreign company registration in Turkey follows the same core process as it does for Turkish nationals. You choose a structure, prepare the articles of association, deposit any required capital, and file with the registry in the province where the company will be based. Most foreign investors register in Istanbul, Ankara or Izmir, though you can set up in any province.
Can Foreigners Open a Company in Turkey?
Foreigners can open a company in Turkey in almost every sector, and full foreign ownership is permitted, so a single non-resident can hold 100 percent of the shares. Turkey treats foreign and domestic investors equally under its Foreign Direct Investment Law, which is one reason the country draws entrepreneurs from the Gulf, Europe, Central Asia and beyond.
A few sectors carry extra rules. Media, aviation, maritime transport and some regulated financial activities have ownership caps or licensing conditions. You do not need to live in Turkey to be a shareholder, and you do not need a Turkish partner. If you plan to manage the company yourself from inside Turkey, you will separately need a work permit, which the company can sponsor once it exists. That point catches many first-time founders off guard when they learn how to open a company in Turkey.
Choosing a Company Type for Company Formation in Turkey
The limited liability company is the standard choice for company formation in Turkey. Known locally as a limited sirket, it suits most small and medium businesses, needs only one shareholder, and shields your personal assets beyond the capital you commit. The alternative is the joint stock company, or anonim sirket, which larger businesses and those planning to raise investment or eventually list shares tend to prefer.
| Feature | Limited Liability (Limited Sirket) | Joint Stock (Anonim Sirket) |
|---|---|---|
| Minimum shareholders | 1 | 1 |
| Minimum capital (as of writing) | Around 50,000 TL | Around 250,000 TL |
| Best suited to | Small and medium businesses | Larger firms, fundraising, share sales |
| Share transfer | Notarised and registered | Simpler, can stay private |
| Management | One or more managers | Board of directors |
Whether the limited company or the joint stock structure fits your plans depends on your capital, your sector and your growth intentions; our advisors can assess it in a short consultation before you file.
Documents Required for Company Setup in Turkey
Company setup in Turkey needs a defined set of documents, and gathering them correctly is where most delays begin. Prepare the following before you approach the registry:
- Passport copies of every shareholder and manager, notarised and translated into Turkish.
- Turkish tax numbers for each foreign shareholder, obtained from the local tax office (Vergi Dairesi) or online.
- The articles of association, drafted in Turkish and entered into MERSIS.
- Notarised signature declarations for the company managers.
- A company address in Turkey, supported by a lease or title deed.
- Passport-sized photographs and, for corporate shareholders, apostilled incorporation documents of the parent company.
If a shareholder cannot travel to Turkey, a power-of-attorney lets a representative handle the notary and registry steps on their behalf. This is common, and it lets many investors complete foreign company registration in Turkey without a long stay.
Steps to Register: Company Setup in Turkey Stage by Stage
Registering follows a clear sequence. These are the core steps for company setup in Turkey:
- Get a Turkish tax number for each foreign shareholder from the local tax office.
- Prepare and notarise the articles of association, then upload the company details to MERSIS.
- Deposit the portion of capital required in advance into a company bank account, and pay the Competition Authority contribution, a small percentage of the declared capital.
- File the application at the Trade Registry Office (Ticaret Sicil Mudurlugu) of the local Chamber of Commerce.
- Collect the registry certificate and the company tax registration once the registry approves the file.
- Register with the tax office for corporate tax and value added tax, and with the Social Security Institution (SGK) if you will employ staff.
- Have the statutory accounting books certified during registration and appoint a licensed Turkish accountant.
Several of these steps now run in parallel through MERSIS, which has shortened the process considerably in recent years.
How Long Company Formation in Turkey Takes
Company formation in Turkey usually takes around a few days to two weeks once every document is ready. The registry stage itself is often complete within a few working days. What extends the timeline is the preparation: notarising and translating passports, obtaining tax numbers, and, for corporate shareholders, waiting on apostilled documents from abroad.
In our experience advising foreign investors, the single most common reason a setup runs late is a passport translation or an apostille that arrives incomplete or in the wrong format. Sorting the paperwork before you start usually saves more time than any other single step.
Cost of Setting Up a Company in Turkey
The cost of setting up a company in Turkey separates into official fees and service costs. The official side is modest, and the larger variable is professional support. As a rough guide, and as of the time this article is written, you should budget for:
- Notary and translation fees for passports, signatures and the articles of association.
- Trade registry and Chamber of Commerce registration fees.
- The Competition Authority contribution, a small percentage of the declared capital.
- Accountant fees, usually charged monthly once the company is running.
- The minimum capital itself, which you commit to the company rather than spend.
Because these figures move with inflation and regulation, treat any number here as indicative and confirm the current cost of setting up a company in Turkey with an advisor before you budget.
Common Mistakes Foreign Investors Make
A handful of avoidable errors cause most of the friction. Watch for these:
- Skipping the tax number step. Nothing else can proceed until every foreign shareholder has a Turkish tax number, so get these first.
- An unclear company address. A virtual address without a proper lease can be rejected. Secure a real registered address.
- Assuming setup grants residence. Owning a company does not by itself give you the right to live or work in Turkey; you apply for a work permit separately once the company exists.
- Underestimating ongoing accounting. Turkish companies file monthly and quarterly, so a licensed accountant is not optional.
- Mismatched translations. A name spelled differently across the passport, the tax record and the articles causes registry rejections.
After Registration: Tax, Staff and Permits
A registered company carries continuing obligations. Corporate income tax applies to company profits at a rate of around 25 percent as of the time this article is written, and most goods and services carry value added tax. Your accountant files monthly withholding and value added tax returns and an annual corporate tax return with the Turkish Revenue Administration (Gelir Idaresi Baskanligi).
If you want to manage the business from Turkey, the company can apply to sponsor your work permit through the Ministry of Labour and Social Security, which in turn supports a residence permit. A registered, active company can also form part of a wider plan toward Turkish residence or, in some cases, citizenship, though those routes carry their own separate rules.
Company setup in Turkey is straightforward for foreign investors when the paperwork is in order: choose a structure, prepare notarised and translated documents, file with the trade registry, and register for tax. The process usually takes around a few days to two weeks, and full foreign ownership keeps you in control of your business. Confirm current fees, capital thresholds and tax rates with an advisor, because these rules change often.
Considering Turkish Citizenship or Moving to Turkey?
Gordion Partners is an Istanbul-based advisory firm that has helped foreigners with Turkish citizenship by investment, residence and work permits, and property purchases since 2020. To discuss your own situation, reach us by phone or WhatsApp at +90 533 140 04 96, by email at [email protected], or visit us at Merkez Mahallesi Hasat Sokak No:12A, 34384 Şişli, İstanbul. Contact us for more information.
Frequently Asked Questions
How much does company setup in Turkey cost?
The cost of setting up a company in Turkey combines official fees and professional service costs. Official fees, notary charges, translation and the Competition Authority contribution are relatively modest, while accountant support is an ongoing monthly cost. Because figures change with inflation, confirm current amounts with an advisor.
Can a foreigner own 100 percent of a company in Turkey?
Yes, a foreigner can own 100 percent of a company in Turkey in almost every sector. You do not need a Turkish partner and you do not need to be resident. A few regulated sectors, such as media and aviation, apply ownership limits.
How long does it take to open a company in Turkey?
Company formation in Turkey usually takes around a few days to two weeks once all documents are ready. The trade registry stage is often complete within a few working days; document preparation is what usually sets the pace.
Do I need to live in Turkey to open a company?
No, you do not need to live in Turkey to open a company. A non-resident can be the sole shareholder, and a power-of-attorney lets a representative complete the notary and registry steps if you cannot travel.
What is the minimum capital for a limited company in Turkey?
The minimum capital for a limited liability company is around 50,000 TL as of the time this article is written, and around 250,000 TL for a joint stock company. These thresholds are set by regulation and can change, so verify the current figure before you file.
Does opening a company give me residence in Turkey?
Opening a company does not automatically grant residence in Turkey. Once the company exists, it can sponsor a work permit for you as the owner or manager, and that work permit supports a residence permit.
How to open a company in Turkey without visiting the country?
To open a company in Turkey without visiting, you grant a power-of-attorney to a trusted representative in Turkey. They obtain your tax number, sign the notarised documents and file with the registry on your behalf, so full foreign company registration in Turkey is possible remotely.
About Gordion Partners
Gordion Partners is an Istanbul-based advisory firm specialising in immigration and real estate services for foreigners in Turkey. Since 2020, our advisors have guided international clients through Turkish citizenship by investment, residence and work permits, and property purchases, working in English, French, Turkish, Russian and Chinese. The firm is led by Burak Unal, an investment advisor and registered real estate broker in Turkey (Taşınmaz Ticareti Bilgi Sistemi, registration no. 3408704), who holds an MSc in Finance from the London School of Economics and a BBA from Boğaziçi University. We focus on clear, responsive and professional guidance at every step.
Disclaimer: This article is for general informational purposes only and you are strongly advised to consult a professional to evaluate your personal situation. No liability is accepted that may arise from the use of the information in this article.
