Foreign-owned company setup in Turkey
Foreign-owned company setup: document checklist
Choose the legal form, the type of shareholder and whether the shareholders will travel. You will see the main incorporation documents.
General list; the Trade Registry may ask for additional documents.
Foreign-owned company setup in Turkey: Ltd, AŞ and branch
Foreign-owned company setup in Turkey is governed by the Turkish Commercial Code No. 6102 and the Foreign Direct Investment Law No. 4875; foreigners incorporate on the same terms as Turkish citizens. A limited company (Limited Şirket) requires minimum capital of 50,000 TRY and a joint stock company (Anonim Şirket) 250,000 TRY; both can be set up with a single shareholder. Registration runs through MERSİS and the Trade Registry and can be completed under a power of attorney without attending in person.
Foreign-owned company setup: Ltd or joint stock company?
Both forms limit liability to the company’s assets but differ in capital, flexibility and formalities:
- Capital: Ltd at least 50,000 TRY; AŞ at least 250,000 TRY, one quarter of which must be paid in before registration.
- Share transfer: in an Ltd a notarised deed, approval of the general assembly and registration with the Trade Registry are required. In an AŞ, share transfers are usually simpler unless the articles restrict them.
- Investors: the AŞ is better suited if new shareholders or funding rounds are planned.
- Management: an Ltd is run by managers, an AŞ by a board of directors (Yönetim Kurulu).
- Running costs: both forms need statutory books, a certified accountant and annual financial statements.
Branch and liaison office
A branch (şube) of a foreign company has no separate legal personality; the parent company is liable for its obligations. A liaison office (irtibat bürosu) may not carry out revenue-generating activity. Anyone who wants to sign contracts and issue invoices in Turkey therefore usually chooses an Ltd or an AŞ.
Documents for incorporation
- Passports of shareholders and managers with a certified Turkish translation
- A Turkish tax number for each foreign shareholder; see Turkish tax number for foreigners
- Articles of association and the manager’s specimen signature
- Business address with proof
- For corporate shareholders: trade register extract and resolution with apostille or consular legalisation
Foreign-owned company setup step by step
Name and business purpose
Trade name, activity, capital and shareholdings are defined.
Articles in MERSİS
The articles are prepared in the system and a signing appointment is booked at the Trade Registry.
Competition Authority fee
0.04 per mille of the capital is paid to the designated account; for an AŞ, 25% of the capital is also paid into a blocked account.
Registration and announcement
The company is registered and announced in the Trade Registry Gazette.
Tax office and accountant
The tax office inspects the address; a licensed certified accountant takes over the bookkeeping.
Setting up the company from abroad
Shareholders who cannot travel to Turkey grant a notarised power of attorney at a Turkish consulate or before a notary in their home country with an apostille. The manager’s specimen signature can also be certified at the consulate. Form and translation are explained in power of attorney from abroad.
Obligations after registration
- Open a corporate bank account; see opening a bank account in Turkey
- Statutory books and tax returns through the accountant; see tax for foreigners in Turkey
- Registration of employees with social security
- Reporting of foreign direct investment to the Ministry of Industry where required
- A shareholder agreement for deadlock and exit; see shareholder agreement review
Residence and work permit
Registering a company does not create a right of residence. Shareholders or managers who work in the company need a work permit; see work permit for company partners.
Frequently asked questions about company setup
Can I set up a company alone as a foreigner?
Yes. An Ltd and an AŞ can be set up with a single foreign shareholder.
What is the minimum capital of a limited company?
50,000 TRY; for a joint stock company 250,000 TRY.
Can I set up the company without travelling?
Yes, with a notarised power of attorney and a certified specimen signature.
Do I need an accountant?
Yes. In practice, bookkeeping and tax returns are handled by a licensed certified accountant (mali müşavir).
Official sources and related pages
This guide is based on the official legislation of the Republic of Türkiye and was last updated on .
This page provides general information and is not a substitute for legal advice on a specific case. No particular outcome of any application or proceeding is promised.
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