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How To Set Up A Company In Turkey

Setting up a company in Turkey is a strategic move for entrepreneurs and foreign investors looking to access a dynamic market that connects Europe, Asia, and the Middle East. Turkey offers a business friendly legal framework, competitive costs, and a fast incorporation process.
This guide explains how to setup a company in Turkey, the steps of company formation, legal requirements, timelines, and key advantages.

Why Setup a Company in Turkey?

• Strategic geographic location
• Strong domestic market and export potential
• Modern company law aligned with international standards
• Equal treatment for foreign and local investors
• Fast and fully digital incorporation system
• Access to residence permits through business ownership

Foreigners can own 100 percent of a Turkish company without a local partner.

Types of Companies in Turkey

The most common company types for investors are:

Limited Liability Company LLC

• Minimum capital: 10,000 TRY
• One or more shareholders
• Most preferred structure for SMEs and foreign investors

Joint Stock Company JSC

• Minimum capital: 250,000 TRY
• Suitable for large scale investments and holding structures
• Easier share transfer and public offering options

In practice, Limited Liability Company is the fastest and most cost efficient option for most foreign entrepreneurs.

Steps of Company Formation in Turkey

Below is a clear step by step overview of the company formation process in Turkey:

Choose company type, company name, shareholders, capital, and management structure.

The Articles of Association are prepared and uploaded to the Central Registry System MERSIS.

Foreign shareholders obtain a Turkish tax number from the tax office or online.

Capital is declared and partially deposited according to legal requirements.

The company is registered with the Trade Registry Office. Once registered, the company legally exists.

Company signature circulars and official books are notarized.

The company is registered with the tax office and tax inspection is completed.

If employees will be hired, SGK registration is completed.

For foreign shareholders, required documents usually include:
• Passport copy
• Notarized and apostilled passport translation
• Turkish tax number • Address information
• Power of attorney if incorporation is done remotely All procedures can be completed without traveling to Turkey via a power of attorney.

Company formation in Turkey is fast compared to many jurisdictions.
• Preparation phase: 1 to 2 days
• Trade registry registration: 1 business day
• Tax and SSI registration: 1 to 2 days
Total timeline: approximately 3 to 5 business days

Costs of Setting Up a Company in Turkey
Costs vary depending on company type and scope, but generally include:
• Trade registry fees
• Notary fees
• Legal service fees
• Accountant setup fees Turkey remains a cost efficient jurisdiction for company formation compared to Europe and the US.

Can Foreigners Get Residence Permit Through Company Formation?
Yes.
Foreign shareholders and directors can apply for a Turkish residence permit based on company ownership and management role.
In some cases, company formation may also support long term immigration planning.

Ongoing Obligations After Company Formation
After setup, companies must comply with:
• Monthly VAT declarations if applicable
• Withholding tax filings
• Annual corporate tax return
• Accounting and bookkeeping obligations
Working with a professional legal and accounting team is strongly recommended.

Why Work With Legal Turkey?
Legal Turkey provides end to end company formation services in Turkey, including:
• Company setup for foreign investors
• Remote incorporation with power of attorney
• Tax and legal compliance
• Residence permit applications
• Ongoing corporate legal support
Our team combines legal expertise with international business experience to ensure a smooth and secure setup process.