GUIDE TO SET UP A COMPANY IN TÜRKİYE - Frequently asked questions
GUIDE TO SET UP A COMPANY IN TÜRKİYE - Frequently asked questions
HOW TO SET UP A COMPANY IN TURKEY
Türkiye is a country preferred by many entrepreneurs in the world to do business, with its advantages such as qualified personnel, geographical location, large economy and lower cost labor supply compared to European countries.
Company formation procedures for foreign investors are easy and very low-cost in Türkiye. Foreign entrepreneurs can easily establish companies and engage in commercial activities with their passports.
In this article, we have attempted to address the most important issues for foreign entrepreneurs wishing to establish a company in Turkey. This information will be useful if you are considering establishing a company in Türkiye.
It's also important to remember that laws and financial regulations in Türkiye are dynamic. Some laws may have changed by the time you read this article. You can always contact us to learn about the current requirements specific to your business and to receive a detailed cost table.
Where should I start to set up a company in Turkey?
1- To set up a company in Türkey, you must first find with a business consultant experienced in foreign investors. An experienced consultant will help you for all process. You should agree for the company's set up process and monthly accounting services.
2- You need a workplace adress to company set up in Türkiye. If you don't need a workplace; alternatively you can rent a virtual business adress witl low charges.
Note: Our company providing turnkey packed company formation service. We are helping you for all business needs in Turkey; company establishment, accounting, tax services audit service, virtual business adress, payroll outsurcing , trademark registration service and consulting services.
If you come our office with your passport enough. We are preparing all documents. We are doing all legal process. We are setting up your company as turnkey.
Since our services are offered as a package, they are solution-oriented and very cost-effective.
Can a foreigner set up a company in Türkiye?
Yes. Foreign country citizens can establish company in Turkey. Turkish government supporting of foreigner entrepreneurs. The company establishment procedures for foreigners in Turkey are kept easy and simple.
The minimum legal requirements for a foreigner to establish a company in Turkey are as follows;
1- Passport
2- Company/business address
3- Agreement with an accountant for accounting process - minimum one year.
What is the minimum capital to set up a company in Turkey?
For limited liability company LLC ; 50.000 TL . Minimum. No capital is required in the first stage to establish a limited company. After establishing the company, you can open a bank account. And according to the law, you can deposit it into the company's bank account within two years.
For joint stock company JSC - INC ; 250.000 TL . Minimum. During the establishment of the company, at least twenty-five percent of the capital (62.500 TL) must be ready and blocked in the bank.
Can a company (legal entity) registered in another country establish a company in Turkey?
Yes. Companies (legal entity) registered in another country can establish a limited company in Turkey.
In order for a company registered in a foreign country to establish a company in Turkey, it is necessary to appoint a real person representative. The real person representative is authorized to carry out business and transactions on behalf of the legal entity.
On the other hand, it is a bit complicated and a bit expensive for a company registered in a foreign country to establish a company in Turkey. Because, all approved official documents are obtained from the country where the company is registered, and these documents are translated into notarized Turkish.
You can write to us on WhatsApp for current cost and price offer.
How much company set up cost in Turkey 2025?
The minimum expense items for establishing a company in Türkiye are as follows. Chamber of commerce registration fee, notary expenses, sworn translator fees and professional service expenses.
1- Trade registry charges ; These expenses are paiding to the chamber of commerce and can vary based on the company type and capital. What is the trade registry charges of setting up a company in Turkey in 2025? The total amount of the trade registry of establishing a company in Turkey is ₺8.650 = 230$ around.
2- Notary Charges; There will be notary expenses for documents such as passport translation, company manager signature circular, accountant's power of attorney. These costs vary depending on criteria such as the number of documents and translation. It start from approximatel 250$.
3- Company establishment service fees: The company establishment service fee is determined according to the total transaction volume and criteria such as the number of partners of the company, the status of the partners, the number of managers, and the type of the company. Please ask offer.
4- Virtual office service fees (If you need) : It is determined according to the services to be received and the characteristics of the service. Yearly virtual office rent fee is approximately 215$ around. Please ask offer.
You can always contact us to find out the current costs specific to your business.
Which Country Citizens Can Set Up a Company İn Türkiye?
Turkey supports foreign entrepreneurs and facilitates company establishment procedures. Citizens of all countries can establish a company in Turkey with their passports.
In general, there are no restrictions on foreign entrepreneurs' countries or commercial areas in which to operate.
On the other hand, there may be special regulations and requirements for foreign investors in sectors such as banking transactions, insurance transactions, energy sector, healthcare sector, security sector and telecommunications. In addition to establishing a company in these sectors, it may be necessary to obtain a license or authorization certificate from the relevant authorities.
Therefore, when establishing a company in Turkey, it is important to work with an experienced team.
Can a bank account be opened for the company after set up a company in Turkey?
Yes. According to the law, a company to be established in Turkey is a separate legal person. And the company manager can open a bank account for the company.
But, some banks may require some additional procedures from foreign entrepreneurs, due to their internal policies. Or, busy bank branch employees may be reluctant to open accounts for foreigners.
On the other hand; There are approximately 50 -60 registered banks in Turkey. There are many banks that can assist foreign entrepreneurs in opening accounts.
Here's our advice for opening a bank account for a company to be established in Türkiye:
-Apply to bank branches that aren't very crowded.
-If you don't speak Turkish, it's helpful to find a banker who speaks your language.
-When applying to the bank, tell them that you want to deposit the company's capital in cash into your account. Or at least deposit some cash.
-Explain your business and activities in detail to the bank officer.
-Obtain a Turkish phone number for banking transactions
We assist our customers who have difficulties opening a bank account after establishing a company. We research suitable banks and provide guidance until the account is opened.
How long does it take to company set up in Türkiye?
Company set up takes an average of three or four business days unless there is a special situation in Türkiye.
In order to complete the company establishment process smoothly and quickly, working with a team experienced in these matters is one of the most important issues.
We have previously established companies of more than a hundred foreign entrepreneurs in Türkyie.
It is sufficient for the entrepreneur to come to our office with his passport. We prepare all the necessary documents. We ensure that the company is fully established within three or four business days. We help you with all your needs with our package solutions.
Can I establish a company in Turkey without going to Turkey?
Yes. Company set up in Türkiye is possible without going to Türkiye.
Company set up costs will increase slightly due to the issuance of documents in your own country, their Turkish translation and notary approval.
We can establish your company in Turkey without your arrival, with a power of attorney that you send along with the necessary documents.
The documents required for this are as follows:
1- Passport copy - Notarized and aposstilled.
2- Power of attorney - Notarized an apostilled.
3- Three picture - Background white.
If there is no apostille approval in your country, you can have the documents approved by the embassy of the Republic of Turkey instead.
Establishing a company with this method is a bit long and costs are a bit high. The easiest and cheapest way to establish a company is to come to Turkey.
What are the monthly expenses of a company in Türkiye?
After set up a company in Türkiye, the company will have some expenses every month, even if it has no operations.
Some of the company's monthly expenses are as follows:
1- Stamp duty on VAT declaration - every month
2- Stamp duty on income tax return - every three months
3- Withholding tax - every three months
4- accounting & virtual office service fee - every month
5- certification expenses of company books - once a year.
Monthly expenses of a company registered in Türkiye vary depending on many criteria such as the size of the company, its volume of activity, employment of workers, import and export activities, and the rental fee of the workplace.
To give you an idea, the monthly expenses of a limited liability company with no commercial activity start at approximately $140-$150. This means that as long as the company is open, it will incur a minimum of $140 per month due to accounting fees and stamp duties for tax returns.
Can foreigners import and export with a company they establish in Turkey?
Yes. Foreign nationals can establish import and export companies in Türkiye. They can import and export through their companies in Türkiye.
Foreign nationals have the same rights and obligations as Turkish citizens in commercial activities and import and export transactions.
To import and export in Türkiye, an agreement must be made with a customs consultant after establishing a company. Customs consultants are authorized to handle customs procedures in Türkiye. A power of attorney must be issued to the customs consultant for customs procedures.
Customs consultants fulfill all legal requirements for import and export. For import and export activities, we refer our clients who need it to reliable customs consultants after establishing a company.
Can foreigners establish a company at a virtual office address in Türkiye?
Yes. Renting a virtual office to establish a company in Türkiye is legal. There are no legal restrictions.
If you don't need a workplace in Turkey, you can rent a virtual office address at a very reasonable cost. You can establish a company at a virtual office address.
We also offer virtual office services to our clients who need them. The office secretary greets cargo, packages, mail, and visitors arriving at our virtual office clients' company addresses and provides information to the company representative.
Can foreigners establish a company in Türkiye on their own? Is a Turkish partner required?
Foreign nationals can establish a limited liability company in Türkiye on their own. They can be the company's director and legal representative. They can manage and conduct business with the company they establish.
Partnering with a Turkish citizen is not mandatory for many business areas. Foreign nationals can manage all official processes of the company without have a Turkish citizen partner.
On the other hand, there are restrictions for some sectors and business areas. For example, in sectors requiring special permits, such as the healthcare sector, pharmaceutical trade, banking sector and private security services, foreign nationals are required to form a partnership with a Turkish citizen. The Turkish citizen partner will be legally responsible for the activities.
In summary:
If a separate special permit or license is not required for the company's activities, having a Turkish citizen partner is not mandatory. A foreign national can establish a company and conduct business on their own.
If a separate special permit or license is required for the company's activities, a partnership with a Turkish citizen is mandatory.
You can always contact us to complete your company establishment process in Turkey smoothly and safely. We are helping you all legal process.
Tag: Company, formation, establishment, set up, Türkiye, Foreigners copamny set up gudie, how foreigners establish company in Türkiye
