Form a Company in Turkey — Fixed-Price

Last updated: April 2026.

Turkey sits between the EU customs union and the Gulf, and it incorporates more new limited liability companies each year than any other country on its perimeter. The dominant vehicle is the Limited Şirket — often written Ltd. Şti. — and the MERSIS online registry processes most of them in three to five business days once documents are in order. Minimum share capital is TRY 50,000 (raised from TRY 10,000 on 1 January 2024). Foreigners may hold 100% of the shares and act as sole director. The headline corporate tax rate is 25%, with a parallel 10% minimum tax on pre-deduction income in force since 2025. VAT is 20% with no registration threshold.

We form Turkish Limited Şirket and Anonim Şirket companies end to end: name reservation, notarised articles, potential tax number issuance, MERSIS filing, Trade Registry registration, VAT and e-Fatura setup, SGK enrolment where needed, and introductions to Istanbul-based business banks. Fixed price, a Turkish-speaking manager on every file.

Quick facts	Value
Corporate Income Tax (standard)	25%
CIT (financial sector)	30%
Domestic minimum tax (parallel)	10% on pre-deduction income
VAT (KDV)	20% standard / 10% / 1% reduced
VAT registration threshold	None — mandatory from first transaction
Minimum share capital (Limited Şirket)	TRY 50,000
Minimum share capital (Anonim Şirket)	TRY 250,000 (25% paid up at formation)
Minimum directors / shareholders	1 director, 1 shareholder (can be the same person, can be foreign)
Residency requirement	None
Standard formation time	3–5 business days in-country, 2–4 weeks remote
Government fees	Included in our packages
Language of filings	Turkish
Currency	Turkish lira (TRY)

Why Form a Company in Turkey

Turkey is the largest economy between the EU and China that still welcomes 100% foreign ownership without a local partner. Three reasons dominate client briefs.

Market size and customs-union access. Turkey has over 85 million people and a Customs Union with the EU that covers industrial goods and processed agricultural products. A Turkish company exports manufactured goods into the Single Market tariff-free, which is why EU buyers increasingly contract with Turkish subs instead of Chinese or North African suppliers. Istanbul sits inside a four-hour flight of 1.5 billion consumers across Europe, MENA, and Central Asia.

No residency or nationality barrier. Under Foreign Direct Investment Law No. 4875, a non-resident foreigner can be the sole shareholder and sole director of a Limited Şirket from day one. There is no local-partner requirement, no limit on repatriation of profits, no FX controls on capital exit. Indian, Russian, Iranian, Pakistani, and Gulf founders use Turkish entities as their operational base precisely because the rules are the same as for Turkish nationals.

The lira cost base. Salaries, office rent, and professional services are priced in lira, which has lost ground against the euro and dollar since 2021. For an exporter invoicing in hard currency, Turkey is one of the lowest-cost manufacturing and back-office locations inside the EU customs umbrella. Software developers in Istanbul cost a third of their Berlin equivalents.

The trade-offs are real. Turkey is not an EU member and does not benefit from the Parent-Subsidiary Directive or the Interest and Royalties Directive. The tax authority — the Gelir İdaresi Başkanlığı, or GİB — is active and digitised. Inflation is volatile. Currency risk needs hedging for any multi-year commitment.

Company Types Available in Turkey

Turkish commercial law gives you six forms in practice. For most cf24 clients, only the first two matter.

Limited Şirket (Ltd. Şti.)

The Turkish equivalent of a private limited company and by far the most common vehicle. Minimum share capital is TRY 50,000, with each share of a nominal value of at least TRY 25. One shareholder and one director are sufficient — both can be the same person, both can be non-residents, both can be foreign corporates. Liability is capped at the share capital. Annual filings include a corporate tax return, monthly VAT returns, and e-Fatura reporting. Audit is only required above statutory thresholds. The Limited Şirket is the default choice for SMEs, e-commerce, consulting, SaaS, import-export, and real estate holdings.

Anonim Şirket (A.Ş.)

The joint-stock company. Minimum share capital TRY 250,000, of which 25% (TRY 62,500) must be paid up at incorporation — the balance is payable within 24 months. Shares are freely transferable, which makes A.Ş. the required vehicle for any business planning a BIST (Borsa Istanbul) listing, regulated financial activity, insurance, or large-scale capital raising. Mandatory independent audit applies above certain asset, turnover, and headcount thresholds that the Council of Ministers resets annually. A.Ş. also offers bearer shares and a clearer governance framework — board of directors plus general assembly — which some family offices prefer.

Şube (Branch of a Foreign Company)

A foreign parent's Turkish branch. Not a separate legal person — the parent's balance sheet and liability extend to Turkey. Useful when a multinational needs a Turkish VAT presence without a separate subsidiary, or when the Turkish activity is genuinely an extension of the parent. Branches pay Turkish corporate tax on Turkish-sourced income plus a branch profit remittance tax of 15% on amounts transferred to the head office.

Irtibat Bürosu (Liaison Office)

A representative office authorised by the Ministry of Industry and Technology. Cannot trade or invoice. Typical three-year license, renewable with evidence of ongoing market research activity. Used by multinationals exploring the Turkish market before committing to a subsidiary.

Kollektif and Komandit Şirket (Partnerships)

General partnership (Kollektif) with unlimited personal liability, and limited partnership (Komandit) with general and limited partners. Rare in foreign-founder structures.

Form	Min capital	Liability	Tax treatment	Common use
Limited Şirket	TRY 50,000	Limited	25% CIT	Default — SMEs, foreign subs, e-commerce
Anonim Şirket	TRY 250,000 (25% paid up)	Limited	25% CIT (30% for financials)	Large cos, listed, regulated sectors
Şube (branch)	n/a	Parent's	25% CIT on Turkish income + 15% remittance	Multinational Turkish presence
Liaison Office	n/a	Parent's	Not taxable (no trading)	Market entry research
Kollektif / Komandit	None	Personal / mixed	Partners taxed personally	Rare

Step-by-Step Formation Process

The end-to-end timeline assumes a Limited Şirket with a single non-resident founder, with documents prepared in advance and signed under apostilled power of attorney.

Name check and reservation. We run the proposed name through MERSIS to confirm it is free and contains the mandatory "Limited Şirket" or "Ltd. Şti." suffix. Turkish naming rules are strict — no use of "Türkiye", "Türk", "Cumhuriyet" or protected terms like "bank" or "insurance" without sector licensing.

Potential tax number. Every foreign shareholder and foreign director needs a Potansiyel Vergi Numarası — a potential tax number — from the local tax office before signing the articles. Issued against a passport copy; we obtain it in 24 hours using either an attendance in Istanbul or a scanned passport submission via our power of attorney.

Articles of association. We draft the Esas Sözleşme covering the commercial scope (defined by the TÜRKTİCARET activity codes), share capital allocation, director appointments, and representation rules. Signatures are executed before a Turkish notary, either in person or via apostilled power of attorney if the founder cannot travel.

MERSIS filing and Trade Registry submission. The file is uploaded to MERSIS — the Ministry of Trade's central electronic registry — and submitted to the Istanbul Trade Registry (Ticaret Sicili). The registry reviews the file, publishes a notice in the Türkiye Ticaret Sicili Gazetesi, and issues the registration certificate. Standard timing is three to five business days.

Tax and post-incorporation registrations. Automatic VAT registration follows Trade Registry entry — there is no separate VAT threshold. We activate e-Fatura and e-Arşiv where the company's activity triggers mandatory electronic invoicing (most do, under the rules as updated for February and April 2026), enrol the company with SGK (Sosyal Güvenlik Kurumu, the social security authority) if staff are hired, and obtain the signature circular (imza sirküleri) that the bank and tax authority require.

Operational setup. Accounting provider engaged, e-invoicing software licensed, books opened, corporate bank account activated.

Realistic lead time for a non-resident founder from first contact to operating company with a working bank account: two to four weeks. Three weeks is typical when documents are prepared in parallel with the apostille process.

Required Documents

For each individual shareholder and director:

Notarised and apostilled passport copy (Turkish consular legalisation accepted where the home country is not a party to the Hague Apostille Convention)
Proof of residential address dated within three months
Potential tax number (we obtain this)
Apostilled power of attorney to our local lawyer if signing is done remotely
Specimen signature declaration (imza beyannamesi) from a notary

For corporate shareholders:

Apostilled certificate of incorporation or registry extract dated within three months
Apostilled register of directors or board resolution authorising the Turkish investment
Apostilled ultimate beneficial owner declaration
Sworn Turkish translation of all foreign documents — we coordinate via a certified yeminli mütercim tercüman

You also confirm the registered office address (we provide one in Istanbul if you do not have your own premises in Turkey), the share capital split, and the activity codes for the commercial scope.

Costs and Timeline

Turkish formation costs depend on whether you travel to Istanbul, whether the file needs apostille and sworn translation, whether you register for the Incentive Certificate for tax reliefs, and whether ongoing monthly accounting is bundled in from day one. Monthly accounting and payroll are effectively mandatory — Turkish VAT, withholding, and SGK filings are monthly, and the tax authority issues electronic notifications that require a registered address and a mali müşavir (certified accountant) to action them.

Our packages cover full incorporation through MERSIS, all government and notary fees, sworn translation of up to ten corporate documents, potential tax numbers for up to three foreign founders, registered office in Istanbul for year one, signature circular, VAT and e-Fatura activation, and a bank account introduction. Contact us for a fixed-price quote — no hourly bills, no surcharges invoiced after the work is done.

If the timeline is tight and a ready-made entity makes more sense than fresh incorporation, see our sister brand's ready-made Turkish Limited Şirket options — pre-registered and transferable in days rather than weeks.

Typical timeline from KYC clearance:

Day	Milestone
0	Engagement, KYC submitted
1–3	KYC cleared, documents drafted, apostille coordination begins
4–7	Apostilled documents returned, sworn Turkish translation, notarisation via power of attorney
8–10	MERSIS filing and Trade Registry submission
11–14	Trade Registry Gazette publication, certificate issued
15–20	VAT and e-Fatura activation, SGK enrolment, bank account opening

Tax Overview for Turkish Companies

Turkish corporate taxation has three layers: headline CIT, the parallel minimum tax, and VAT. All three matter for modelling.

Corporate Income Tax: 25% for 2026 (the financial sector rate is 30%, applicable to banks, insurers, factoring, leasing, asset management, and broker-dealers). Tax is calculated on worldwide income for resident companies — a company is Turkish-resident if its legal or business centre is in Turkey — and on Turkey-sourced income for non-residents.

Domestic minimum tax: 10% on pre-deduction taxable income, in force since 1 January 2025. Each company computes liability under both the standard 25% regime (applied to income after ordinary deductions and exemptions) and the parallel 10% regime (applied to income before most of those deductions), and pays whichever is higher. The minimum tax was introduced to prevent investment-incentive stacking from eliminating CIT entirely.

VAT (KDV): 20% standard, with reduced rates of 10% (clothing, footwear, certain food services, furniture) and 1% (basic foodstuffs, certain agricultural products). There is no registration threshold — every company that conducts commercial activity is VAT-registered from day one. Returns are monthly, filed by the 26th of the following month. Refunds above TRY 164,000 are claimable under the 2026 threshold; amounts below roll forward.

Withholding tax on outbound flows is meaningful and affects structuring:

Dividends to non-residents: 15% (raised from 10% by Presidential Decree No. 9286 on 22 December 2024). Treaty rates typically reduce this to 5% or 10% where the recipient meets ownership thresholds.
Interest to non-residents: 10% generally, 0% on government bonds and treasury bills.
Royalties to non-residents: 20% standard, 15% for cinematographic film royalties.

Capital gains on the sale of Turkish subsidiaries are exempt for resident corporate sellers if the shares are held for at least two years — a 75% participation exemption under specific conditions, extended to 100% in certain restructuring cases.

Double-tax treaty network: Turkey has 85+ treaties in force, including with Germany, the UK, France, the Netherlands, the US, China, India, Russia, the UAE, and most of the Gulf. Treaty-reduced WHT rates on dividends are typically 5–10%.

e-Fatura and e-Arşiv are mandatory for most VAT-registered taxpayers. The Revenue Administration pushed major technical validation updates live on 2 February 2026 and a further set on 1 April 2026 — both tightened data-structure requirements and real-time reporting. Your accounting provider must be a certified integrator, or you must subscribe to a certified e-invoicing platform. We include activation and the first-year platform subscription in our formation packages.

Incentive regimes. Turkey operates a wide Investment Incentive Certificate system administered by the Ministry of Industry and Technology, offering VAT exemption on machinery imports, customs duty exemption, social security premium contribution for employment in designated regions, and reduced CIT rates ranging from 10% to 20% depending on region and sector. Technology Development Zone ("Teknopark") tenants receive income tax, CIT, stamp tax, and VAT reliefs on qualifying R&D activity.

Banking for Turkish Companies

Turkish business banking splits between private banks (international-facing, faster onboarding) and state banks (universal network, slower compliance). The top five by balance sheet are İş Bankası, Ziraat Bankası, Garanti BBVA, Akbank, and Yapı Kredi. We introduce to whichever fits the client profile.

İş Bankası (Isbank) is Turkey's largest private bank and widely considered the most foreigner-friendly. Dedicated English-language expat and corporate desks, strong international banking unit, and correspondent network across 30+ countries. For most cf24 clients with a non-resident director and no local staff, Isbank is the starting point.

Garanti BBVA is the Turkish arm of BBVA Group. Mobile-first onboarding, with a well-developed app and the most accessible remote-opening process among the top banks. Useful for clients who cannot travel for a branch visit; some onboarding flows are fully digital under specific conditions.

Akbank caters to international corporates with a strong trade finance desk. Faster for import-export businesses and letter-of-credit activity.

Ziraat Bankası is the state bank and has the broadest branch network. Bureaucratic but reliable once open, and often required for specific public-sector or regulated transactions.

Yapı Kredi (jointly owned by Koç Group and UniCredit) generally requires a director with a Turkish residence permit or an existing banking relationship. Not always accessible to pure non-resident structures.

Denizbank is owned by Emirates NBD and is often the best fit for GCC-based founders; Turkish Bank for GCC trade.

For EMI alternatives usable alongside a Turkish bank — Wise Business, Payoneer, Airwallex — Turkish regulations permit cross-border use for receivables, though all routine TRY operations (payroll, tax, SGK) must route through a Turkish bank. We advise pairing a Turkish bank for domestic obligations with an EMI for multi-currency receivables where clients invoice internationally.

Document pack for account opening typically: Trade Registry Gazette extract, signature circular, tax registration certificate, activity certificate, passport and potential tax number of each authorised signatory, and proof of residential address. Most banks require at least one in-person branch attendance by an authorised signatory during onboarding.

Nominee Director Services

Turkey permits nominee directors. Many foreign-founder structures use one — usually a Turkish resident — to simplify bank account opening, SGK communications, and tax authority correspondence. Three factors shape the analysis.

Banking is easier with a local resident in the signatory chain. Turkish banks evaluate beneficial ownership, source-of-funds, and operational substance. A company with a Turkish-resident director clears onboarding faster than one with only an offshore founder, particularly at Yapı Kredi, Denizbank, and some private banks. This is the single most common reason cf24 clients appoint a nominee.

UBO disclosure applies regardless. A nominee director does not shield the ultimate beneficial owner. Turkey runs a UBO register through the Revenue Administration, and banks, the Trade Registry, and regulated professions (notaries, accountants) are required to identify and record the natural person controlling the company. If the objective is to obscure ownership from regulators, a nominee alone will not achieve that.

Fiduciary framework matters. We provide nominee services under a formal written agreement — indemnity from the beneficial owner, specific scope of authority, prohibition on unilateral bank operations, and a deed of trust confirming that the nominee holds in name only. Without these, nominee arrangements create enforceability and liability risk in both directions.

We act as nominee where the structure is legitimate, KYC-compliant, and disclosed to the Turkish tax authority and banks. We do not act where the purpose is to evade sanctions, tax residency rules in another country, or UBO transparency.

Frequently Asked Questions

Can a foreigner own a company in Turkey?

Yes. Under Foreign Direct Investment Law No. 4875, a non-resident foreigner has the same company formation rights as a Turkish citizen. 100% foreign ownership of a Limited Şirket or Anonim Şirket is permitted. No local partner is required, no minimum Turkish investor percentage, and the sole director can be a non-resident foreigner from day one.

How long does it take to form a company in Turkey?

Trade Registry entry via MERSIS is typically complete within three to five business days of a clean filing. For a non-resident founder requiring apostilled documents and sworn Turkish translation, end-to-end timing from first contact to operating company with a working bank account is two to four weeks. Three weeks is typical when document preparation runs in parallel with apostille.

What is the minimum share capital for a Turkish Limited Şirket?

TRY 50,000, raised from TRY 10,000 on 1 January 2024. Each share must have a nominal value of at least TRY 25. Companies registered before 1 January 2024 with lower capital are required to top up to TRY 50,000 by 31 December 2026. The higher Anonim Şirket minimum is TRY 250,000, with 25% paid up at formation.

Do I need to visit Turkey to register a company?

No. The Esas Sözleşme can be signed by apostilled power of attorney granted to our Turkish lawyer, allowing full remote incorporation. The only step that sometimes requires a visit is the opening of a bank account — most Turkish banks want at least one in-person signature by an authorised representative. Some, including Garanti BBVA and Isbank, offer remote onboarding for specific profiles.

What is MERSIS?

MERSIS (Merkezi Sicil Kayıt Sistemi) is the Ministry of Trade's central electronic registry for Turkish commercial entities. Every company formation, amendment, capital change, director appointment, and share transfer flows through MERSIS before going to the local Trade Registry. It is the Turkish equivalent of KRS in Poland or Companies House Web Incorporation in the UK.

What taxes does a Turkish company pay?

Corporate Income Tax at 25% (30% for financial institutions), plus a parallel minimum tax of 10% on pre-deduction income since 2025. VAT is 20% with reduced rates of 10% and 1%. Dividend withholding tax on outbound payments to non-residents is 15%, reduced to 5–10% under most treaties. Monthly VAT and withholding returns, plus an annual CIT return, are mandatory.

Is e-Fatura mandatory in Turkey?

Yes, for most VAT-registered businesses. The Revenue Administration pushed new technical validation rules live on 2 February 2026 and a further set on 1 April 2026, with real-time reporting requirements. Small businesses below specific thresholds may use e-Arşiv instead. Compliance requires either a certified e-invoicing software subscription or a GİB-registered integrator. We activate this at formation.

Get Started — Form Your Turkey Company

A fixed-price quote in 60 seconds. Trade Registry certificate in three to five business days from a clean filing. Bank account introduction included. Apostille and sworn translation handled in parallel with MERSIS preparation to cut two weeks from a typical timeline.

Call +48 2222 5 2222 or email [email protected] to start. Most Turkish formations are complete and operating with a bank account within three weeks of engagement.

Content prepared by Piotr Walter, In-house Counsel. Approved by Tomasz Bielski, Managing Director.

Company Formation in Turkey