Short answer: Foreigners can form a Turkish company — most commonly a limited liability company (Limited Şirketi — Ltd. Şti.) — with relatively few restrictions. The process involves the trade registry, notary, tax office and bank, and takes days to weeks when properly prepared. Ongoing obligations include accounting, tax filing and social security registration.
Key takeaways
- Foreigners can hold 100% ownership of a Turkish Ltd. Şti. without a Turkish partner.
- Minimum capital for an Ltd. Şti. is 10,000 Turkish Lira (TRY), though banks and some contracts expect more.
- Formation requires a notary, trade registry filing, tax office registration and a bank account for capital deposit.
- Ongoing obligations include monthly bookkeeping, VAT filings, annual corporate tax and payroll/SGK if you employ staff.
- A registered address is required — you cannot use a P.O. box or home address unless the property allows it.
Company types available to foreigners
| Structure | Description | Minimum capital | Common use |
|---|---|---|---|
| Ltd. Şti. (Limited Şirketi) | Limited liability company, 1–50 shareholders | 10,000 TRY | Most foreign SMEs and freelancers |
| A.Ş. (Anonim Şirketi) | Joint stock company, 1+ shareholders | 50,000 TRY | Larger businesses, investment vehicles |
| Branch office (şube) | Extension of a foreign parent company | No fixed minimum | Multinationals, service companies |
| Liaison office (irtibat bürosu) | Non-trading representative office | No fixed minimum | Market research, coordination only |
Most foreign entrepreneurs and freelancers choose an Ltd. Şti. It offers limited liability, a single-member option, relatively straightforward formation and proportionate ongoing obligations.
Who can form a company
Foreign nationals can form a Turkish company regardless of nationality, with limited exceptions based on bilateral treaties and sector-specific regulations. Check whether your home country has relevant treaty provisions or whether your intended business sector requires special permits (e.g., some regulated professions, media, real estate brokerage).
You do not need a Turkish residence permit to form a company, but you will need one if you intend to work for the company in Türkiye (as a manager/müdür or employee), as this triggers work permit requirements.
Step-by-step formation process
Step 1: Choose your structure and prepare articles of association
Decide on the company type, share structure and company name. The articles of association (ana sözleşme) must be prepared in Turkish. Most company formations use a solicitor or company formation agent for this stage.
Confirm name availability via the trade registry system (MERSİS — Merkezi Sicil Kayıt Sistemi).
Step 2: Register via MERSİS
The formation process starts online via MERSİS (mersis.gtb.gov.tr). Create an account, complete the formation wizard and generate the draft articles of association.
Step 3: Notary appointment
Take the MERSİS output and your formation documents to a Turkish notary (noter). The notary authenticates the articles of association and your signature. Bring:
- Passport (original + certified Turkish translation)
- Tax ID number (vergi numarası) — you must have this before notary
- Company formation documents from MERSİS
Step 4: Trade registry filing
After the notary, submit the company formation file to the relevant Trade Registry Directorate (Ticaret Sicili Müdürlüğü). In major cities this is at the Chamber of Commerce (Ticaret Odası). Documents include:
- Notarised articles of association
- Manager/director appointment declarations
- Signature circulars (imza sirküleri)
- Proof of address for the registered company address
- Passport copies and tax IDs of all shareholders and managers
The trade registry issues a trade registry number (sicil numarası) and publishes the formation in the Turkish Trade Registry Gazette (Türkiye Ticaret Sicili Gazetesi).
Step 5: Capital deposit
At least 25% of the minimum capital must be deposited in a blocked bank account before formation (the remainder within 24 months). For a 10,000 TRY Ltd. Şti., this is 2,500 TRY. Open a temporary account at a Turkish bank for this purpose before formation is complete.
Step 6: Tax office registration (vergi dairesi)
After trade registry, register with the local tax office (vergi dairesi) to obtain your company tax number (vergi numarası) and tax plate (vergi levhası). Bring the trade registry documents and a lease agreement for the company's registered address.
Step 7: SGK registration
If you will employ staff — including yourself as a working manager — register with the Social Security Institution (SGK). This triggers monthly social security premium obligations.
Step 8: Bank account
Open a corporate bank account. Required documents typically include trade registry documents, tax registration, signature circulars and passports of authorised signatories. Bank KYC requirements for foreign-owned companies have tightened since 2022 — some banks decline foreign shareholders or require longer processing.
Costs
| Item | Approximate range |
|---|---|
| MERSİS and registry fees | A few hundred to a few thousand TRY |
| Notary fees | Varies by capital and document volume |
| Trade Registry Gazette publication | Set by government |
| Professional/agent fees | Varies widely |
| Initial capital deposit | Minimum 10,000 TRY (Ltd. Şti.) |
Get itemised quotes from a local company formation agent or lawyer. Total formation costs excluding capital vary by city and agent.
Ongoing obligations
Once formed, a Turkish company must:
- Monthly VAT return (KDV beyannamesi): Even if no revenue — nil returns must be filed.
- Quarterly/monthly corporate tax prepayments (geçici vergi): Filed every three months.
- Annual corporate tax return: Filed and paid after the financial year close.
- Monthly payroll declarations (muhtasar beyanname): If you have employees or pay yourself a salary.
- SGK premium declarations: Monthly if registered.
- Annual financial statements: Prepared according to Turkish accounting standards.
A licensed Turkish accountant (serbest muhasebeci mali müşavir — SMMM) is legally required for most companies. Budget for monthly accounting fees.
Foreign manager / working director
If you will work for your own company in Türkiye as a manager (müdür), you technically need a work permit. The work permit for company founders/directors has its own route through the Ministry of Labour, but it still requires meeting minimum capital and salary thresholds. Seek professional advice on this before deciding structure.
Registered address requirements
A Turkish company must have a physical registered address. Options include:
- A genuine office lease
- Virtual office / domiciliary services (işyeri kiralama veya sanal ofis) — legal and widely used by SMEs
- Your residence — only if the property permits commercial registration (check with the landlord and municipality)
Virtual office providers in major cities offer Trade Registry-compatible addresses with mail handling for a monthly fee. This is a common starting point for foreign-owned companies without staff.
Sector-specific considerations
Some sectors require additional permits or have foreign ownership restrictions:
- Media companies (broadcasting): ownership limits
- Real estate agents: licensing requirements
- Financial services: BDDK/SPK licensing
- Healthcare: professional qualification requirements
- Some professions (law, medicine, architecture): Turkish qualification or partnership rules
Check sector-specific regulations with a qualified Turkish lawyer before formation.
Departure and dissolution
Closing a Turkish company requires formal dissolution (tasfiye) through the trade registry. This is a multi-step process involving tax clearance, creditor notification and registry de-listing. Do not simply abandon an active company — undissolved companies continue to have filing obligations and may accumulate penalties.
Official sources
- MERSİS (company formation portal): mersis.gtb.gov.tr
- Ministry of Trade (company law and trade registry): ticaret.gov.tr
- Revenue Administration (tax registration): gib.gov.tr
- Social Security Institution (SGK): sgk.gov.tr
Company law, tax rates and minimum thresholds are updated periodically. Verify current requirements with the relevant ministry or a qualified Turkish professional.