Solutions
Company Formation in Turkey for Foreign Investors
Tercan Legal is an Istanbul law firm registered with the Istanbul Bar (No. 45421). We set up Turkish companies for foreign individuals and companies — usually without the founder travelling to Turkey — and stay with the company after registration: bank account, accounting, permits and the first contracts.
Company formation in Turkey at a glance
| Company type | Limited liability company (Ltd. Şti.). Joint stock company (A.Ş.), branch, liaison office and free zone companies are also available. |
| Travel needed? | No — an apostilled power of attorney is enough |
| Languages | English, Russian, Arabic, Chinese, Persian, French, Turkish |
Can a foreigner own 100% of a company in Turkey?
Yes. Under the Foreign Direct Investment Law No. 4875 foreign investors are treated the same as Turkish investors. No Turkish partner, no Turkish director and no local sponsor is required. A small number of regulated sectors (banking, insurance, energy, aviation and similar) need a separate licence, for Turkish and foreign founders alike.
Which company structure should you choose?
- Limited company (Ltd. Şti.) — the default for trading, services, e-commerce and as a base for a work permit. One shareholder is enough.
- Joint stock company (A.Ş.) — for investors planning outside capital, easier share transfers or a future IPO.
- Branch or liaison office — when the foreign parent wants to operate or represent itself directly.
- Free zone company — for re-export, warehousing and transit trade with customs and tax advantages.
We recommend the structure after a short call about what the company will actually do, who will sign, and where the money will come from and go to.
How to register a company in Turkey: step by step
- Scoping call and fixed-fee engagement letter.
- Tax numbers for the shareholders and directors.
- Power of attorney, signed and apostilled in your country (we send the Turkish/English text).
- Articles of association drafted for your business, not a template.
- Registered address (virtual office if needed).
- Trade Registry filing through MERSIS.
- Company tax registration and tax office address inspection.
- Corporate bank account and accountant (CPA) appointment.
Opening the corporate bank account
This is where most foreign-owned companies get stuck. Our founding partner previously acted as counsel to Türkiye Finans (NCB/SNB group) and Kuveyt Türk (KFH group) and advises on payment systems; the firm has opened corporate accounts for dozens of companies with shareholders from Russia, the CIS, the Gulf and Asia. We prepare the bank’s KYC file before the meeting so the account is opened on the first attempt, not the third.
Documents we need
- Passport copy of each shareholder and director (notarised/apostilled where required)
- Apostilled power of attorney
- For corporate shareholders: certificate of incorporation, articles and board resolution, apostilled and translated
- Proof of address
Work and residence permit through your company
A company owner can obtain a work permit based on the company and move on to residence. We quote this separately so the formation fee stays clear. See also Work Permit in Turkey.
After registration — what you must not miss
Monthly VAT and withholding filings, SGK registration if you hire, e-invoice (e-Fatura) thresholds, the annual general assembly and ledger certification. Our English-speaking in-house CPA handles these for our clients. See Business Setup in Turkey.
Why Tercan Legal
- A law firm, not an agency: you sign an engagement with a bar-registered lawyer and receive a Turkish invoice.
- Banking background: former counsel to NCB and KFH group banks in Turkey.
- Desks in Russian, Arabic and Chinese; clients from more than 40 countries; references on request.
- Free zone, sanctions and compliance experience for trade and transit structures.
Company registration in Turkey: how long it takes
Once the documents are complete, registration with the Trade Registry through MERSIS is usually completed within a few working days. In practice, the overall timeline is set by the documents prepared abroad (the apostilled power of attorney and translations), the tax numbers and the corporate bank account, and is typically two to four weeks.
What company formation in Turkey costs
The main cost items are notarisation and sworn translations, Trade Registry and publication fees, the Competition Authority contribution calculated on the capital, the minimum capital itself (TRY 50,000 for a limited company and TRY 250,000 for a joint-stock company), a registered office or virtual office and the monthly fees of the accountant. Our professional fee is set out in a written proposal before any work starts.
Choosing a company formation lawyer in Turkey
Registering a company is a formality; setting it up correctly is legal work. A company formation lawyer should draft articles of association that fit how the business will actually operate, anticipate the bank’s know-your-customer review, plan work and residence permits for the founders, and remain available after registration for contracts, shareholder changes and compliance. That is the difference between a lawyer-led company formation and a registration service.
Limited company or joint-stock company in Turkey?
Most foreign investors choose between a limited liability company (Ltd. Şti.) and a joint-stock company (A.Ş.). Both can be 100% foreign-owned and both can have a single shareholder. The main differences are set out below.
| Limited company (Ltd. Şti.) | Joint-stock company (A.Ş.) | |
| Minimum capital | TRY 50,000 | TRY 250,000 |
| Shareholders | 1 to 50 | 1 or more, no upper limit |
| Management | One or more managers (müdür) | Board of directors, which may have a single member |
| Share transfer | Notarised agreement and general assembly approval | Simpler; suited to investors and later share sales |
| Public offering | Not possible | Possible, subject to capital markets rules |
| Typical use | Trading, services, e-commerce, a base for a work permit | Larger investments, several investors, fundraising or IPO |
For a more detailed comparison, see joint-stock or limited company in Turkey.
Setting up a company in Turkey remotely
Company formation in Turkey can usually be completed without the founders travelling. The key documents are prepared in your country and legalised by apostille:
- Power of attorney: signed before a notary in your country and apostilled, authorising us to carry out the formation, obtain tax numbers and deal with the Trade Registry.
- Signature declaration: each manager or board member must give a signature declaration (imza beyannamesi). Foreign managers can do this at a Turkish consulate abroad or at a notary in Turkey.
- Tax numbers: each foreign shareholder and manager needs a Turkish tax number, which we obtain on the basis of the power of attorney.
- Corporate shareholders: a company acting as shareholder provides its certificate of incorporation, articles and a board resolution, apostilled and translated into Turkish.
Company formation in Turkish free zones and regulated sectors
Some businesses need more than an ordinary company. A company that will mainly re-export, store goods or manufacture for foreign markets may be better established in a Turkish free zone, which requires an operating licence from the zone administration. See foreign investment and free zones in Turkey and our free zone company formation guide.
Activities such as banking, payment services, insurance, energy, travel agencies, private security and certain health and education services require an additional licence from the relevant authority. We check these requirements before the articles of association are drafted, so that the company’s scope of activity matches the licence it will need.
Tax and accounting after company formation
A Turkish company is subject to corporate income tax, VAT and withholding taxes on certain payments, and must keep its books through a certified public accountant (SMMM). Monthly and quarterly tax returns, social security declarations for employees and, depending on turnover, the e-invoice and e-ledger systems all apply from the first months. We coordinate the appointment of an accountant during formation, so that the company is compliant from the start. See our tax guide for foreign investors.
Related guides
- Opening a branch, liaison office or company in Turkey
- Business setup in Turkey: from registration to first invoice
- Joint ventures and shareholders’ agreements in Turkey
- Buying a company in Turkey
- Residence and work permits in Turkey
Frequently asked questions
Do I need to come to Turkey?
No. An apostilled power of attorney lets us complete registration. Some banks may ask for one meeting, which can usually be arranged in a single short visit.
Can the only shareholder also be the director?
Yes.
Do I need a Turkish partner?
No.
Does owning a company give me residence?
Not automatically — a work permit based on the company is the usual route.
Can you set up a free zone company?
Yes, in all Turkish free zones. See our free zone company guide.
What is the minimum capital for a company in Turkey?
TRY 50,000 for a limited company and TRY 250,000 for a joint-stock company.
Can a foreign company open a company in Turkey?
Yes. A foreign company can be the sole shareholder of a Turkish company, or open a branch or liaison office instead.
Can I open a company in Turkey online?
The registration itself is done through the Trade Registry system by your lawyer. With an apostilled power of attorney, the whole process can be run while you remain abroad.
Does a company in Turkey need a local director?
No. Managers and board members can be foreign nationals living abroad.
Talk to a company formation lawyer
WhatsApp +90 506 689 97 22 · info@tercanlegal.com · Hikaye Sokak No 7, Office: 6, 34394 Esentepe, Şişli – Istanbul, Türkiye. Tell us in two lines what the company will do — we reply with a written roadmap within 24 hours.
