Setting up an LLC in Turkey is one of the most direct ways for a foreign investor to trade, hold property through a company, or support a work permit application. An LLC in Turkey, known locally as a limited sirket (Ltd. Sti.), can be fully owned by foreigners, needs only one shareholder, and is usually registered within about a week once the paperwork is ready. This guide covers the requirements, the steps, the real costs, and the mistakes that slow foreign applicants down.
What Is an LLC in Turkey?
An LLC in Turkey is a limited liability company, called a limited sirket (Ltd. Sti.) under the Turkish Commercial Code, in which each shareholder’s liability is capped at the capital they commit. The company is a separate legal entity from its owners. That separation shields your personal assets from company debts beyond your subscribed shares. It can have between 1 and 50 shareholders, who may be individuals or other companies, resident or not.
A limited liability company in Turkey can carry out almost any lawful commercial activity, from consulting and trade to technology and tourism. The activities you declare are recorded against NACE codes, the standard economic-activity codes used across the registry. Choose them with care, because they define what the company may invoice for.
Can Foreigners Own an LLC in Turkey?
Foreigners can own 100 percent of an LLC in Turkey, with no requirement for a Turkish partner or a local director. There is no minimum residence requirement to be a shareholder. A single foreign national can be both the sole owner and the sole director.
You do not need to be in Turkey in person for every step. Much of the formation can be handled through a representative acting under a notarised power of attorney. A few sectors, such as certain media, aviation and defence activities, carry ownership restrictions, so whether your planned activity is fully open to foreign ownership depends on the sector. Our advisors can check this in a short consultation before you commit any capital.
Minimum Capital and Shareholders for a Limited Liability Company in Turkey
The minimum share capital for a limited liability company in Turkey is 50,000 Turkish lira as of the time this article is written. You do not have to deposit this amount in a blocked bank account before registration, which is a key difference from a joint stock company. Instead, the committed capital can be paid in over a period of up to 24 months after the company is formed. Even so, set a realistic figure. Banks and the tax office read the capital as a signal of substance, and a nominal amount can raise questions later.
Capital can be contributed in cash or, in some cases, in kind, such as equipment or intellectual property supported by an independent valuation. On shareholders, the rule is one to fifty, and each votes in proportion to their share. At least one person must be appointed as director with authority to represent the company. That director can be a foreign shareholder or an outside manager, resident in Turkey or abroad.
How to Open an LLC in Turkey, Step by Step
If you are wondering how to open an LLC in Turkey, the process follows a clear sequence handled mostly through MERSIS, the Central Registry Record System. Most of it is administrative. The core stages are these:
- Reserve a company name and draft the articles of association in MERSIS, listing the shareholders, capital, directors and activity codes.
- Obtain a Turkish tax number for each foreign shareholder and director from the local tax office of the Turkish Revenue Administration. This is quick and needs only a passport.
- Sign the articles of association before the Trade Registry Directorate, in person or through a representative holding a notarised power of attorney.
- Pay the registration fees and the small Competition Authority contribution calculated on the capital.
- Register the company with the Trade Registry Directorate under the local Chamber of Commerce, which issues the registration and the trade registry gazette entry.
- Register with the tax office, obtain the tax plate, and have the accounting books certified.
- Open a corporate bank account, then enrol with the Social Security Institution (SGK) before you hire any staff.
Once the Trade Registry Directorate completes the entry, your company formally exists and can trade. Shortly after, you register for VAT where your activity requires it, activate the company’s official electronic notification address, and begin the monthly and quarterly filings that every Turkish company must keep up.
Documents You Need for LLC Registration in Turkey for Foreigners
LLC registration in Turkey for foreigners rests on a short but exact document set. Missing or badly translated papers are the single biggest cause of delay. Get the set right once and the rest moves quickly. You will usually need:
- Passport copies of every shareholder and director, notarised and, where required, translated into Turkish.
- A Turkish tax number for each foreign shareholder and director.
- The articles of association prepared in MERSIS.
- A registered business address, supported by a lease or title, since a genuine address is required.
- Signature declarations for the directors.
- A notarised power of attorney if a representative will act for you.
- Passport-style photographs of the directors.
If a shareholder is a foreign company, you also provide that company’s certificate of activity and a board resolution, apostilled and translated by a sworn translator. Getting the tax numbers and the address settled early keeps LLC registration in Turkey for foreigners moving without avoidable stops.
Costs of Company Formation in Turkey
Company formation in Turkey involves official fees plus a few service costs, and it helps to separate the two. The figures shift with inflation and official tariffs, so treat the amounts as indicative as of the time this article is written and confirm current numbers with an advisor.
Official and registry costs usually include:
- Trade Registry Directorate and Chamber of Commerce registration fees.
- Notary charges for signature declarations and the power of attorney.
- The Competition Authority contribution, a small percentage of the declared capital.
Other costs of company formation in Turkey typically include:
- Certified translation and, for documents coming from abroad, apostille.
- A monthly accountant, which is not optional in Turkey because bookkeeping and tax filings are mandatory from the first month.
- Optional advisory or formation-agent fees if you appoint a representative.
The recurring accounting cost is the one foreigners most often overlook. It is not large per month, but it starts immediately and runs for the life of the company.
Timeline: How Long LLC in Turkey Setup Takes
Registration of an LLC in Turkey usually takes around three to seven business days once every document is ready and translated. Most of the wait sits on your side of the table. Preparing the articles and gathering documents takes a few days and depends mostly on you. Getting the tax numbers is often same-day, and the Trade Registry Directorate entry itself is commonly completed within a couple of working days after signing.
Opening the corporate bank account can add a few days on top. If documents come from abroad and need apostille and translation, add a week or two for that step alone. In our experience advising foreign founders, the stage that most often adds unplanned days is the bank account, because compliance checks differ from one bank to the next.
LLC vs Joint Stock Company: Which Structure Fits?
Most foreigners pick the limited liability company, but a joint stock company (anonim sirket, A.S.) suits larger ventures or those planning outside investment. The table compares the two on the points that matter most.
| Feature | Limited Liability Company (Ltd.) | Joint Stock Company (A.S.) |
|---|---|---|
| Minimum capital | 50,000 TRY | 250,000 TRY |
| Shareholders | 1 to 50 | 1 or more, no upper limit |
| Capital deposit | Payable within 24 months | 25 percent before registration |
| Share transfer | Notarised and registered | Simpler, no registry filing |
| Public share offering | Not permitted | Permitted |
All figures above are as of the time this article is written. For a first company that trades or consults, the limited liability company is almost always the practical choice. Step up to a joint stock company when you expect outside shareholders or a future share sale.
Common Mistakes When Opening an LLC in Turkey
A handful of avoidable errors cause most delays. In our experience advising foreign investors, the most common reason an LLC in Turkey setup stalls is a mismatch between the business activity described in the articles of association and the NACE code entered in MERSIS. Watch for these:
- Wrong or too-narrow activity codes. Pick codes that cover what you actually plan to do, so you do not have to amend the articles later at extra cost.
- Leaving tax numbers to the last minute. Nothing else can be filed without them, so get them first.
- Using an address that will not hold up. A purely virtual address can be questioned by the tax office, so use a genuine registered address.
- Assuming ownership grants residence. Owning a company does not automatically give you a residence or work permit; those are separate applications with their own rules.
- Underbudgeting the monthly accountant. Filings start immediately, so plan for the recurring cost from the first month.
Fix these before you file and the process stays on the short end of the timeline.
Summary
Forming an LLC in Turkey is a fast and well-defined process. A limited liability company needs one shareholder, 50,000 lira of capital as of the time this article is written, a small document set, and about a week at the registry. Foreigners can own it outright, run it from abroad through a representative, and use it to trade, hold property or support a permit application. Get the tax numbers, the address and the activity codes right, and an LLC in Turkey can be up and running quickly. That, in short, is how to open an LLC in Turkey without wasted time.
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 Sisli, Istanbul. Contact us for more information.
Frequently Asked Questions
How much does it cost to open an LLC in Turkey?
Opening an LLC in Turkey involves registry, notary and Chamber of Commerce fees plus translation and a monthly accountant, and the minimum share capital is 50,000 Turkish lira as of the time this article is written. The official fees are modest, but the recurring accounting cost is the part foreigners most often forget. 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 an LLC in Turkey in most sectors, with no Turkish partner required. A single foreign national can be both the sole shareholder and the sole director. A few regulated sectors carry ownership limits, so check your specific activity first.
How long does company formation in Turkey take?
Company formation in Turkey usually takes around three to seven business days once all documents are ready and translated. The Trade Registry Directorate entry is often completed within a couple of days of signing, though opening a bank account can add a few more days.
Do I need to be in Turkey to open an LLC?
No, you do not need to be present for the whole process, because much of it can be handled through a representative acting under a notarised power of attorney. Some banks, however, may ask the shareholder to appear in person to open the corporate account.
What is the minimum capital for a limited liability company in Turkey?
The minimum capital for a limited liability company in Turkey is 50,000 Turkish lira as of the time this article is written. You do not deposit it in a blocked account before registration; it can be paid within 24 months of formation.
Does owning an LLC in Turkey give me residence?
No, owning an LLC in Turkey does not automatically grant residence or the right to work. A residence permit and a work permit are separate applications, though an active company can support a work permit application under its own conditions.
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 (Tasinmaz Ticareti Bilgi Sistemi, registration no. 3408704), who holds an MSc in Finance from the London School of Economics and a BBA from Bogazici 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.
