# Company Registration in Turkey 2025

**Key Points for Company Registration in Turkey**

* **Types of Companies:** Foreigners can register various types of companies in Turkey, the most common being:
    
    * **Limited Liability Company (LLC):** Suitable for small to medium-sized businesses, with a minimum capital of **50,000 TRY**. It is a popular option due to its lower capital requirement and limited liability.
        
    * **Joint Stock Company (JSC):** Ideal for larger enterprises, with a minimum capital of **250,000 TRY**. It is preferred by banks and insurance companies and allows for easier share transfers.
        
    * **Branch Office:** Allows foreign companies to operate in Turkey without creating a new legal entity.
        
    * **Liaison Office:** For research activities only and cannot engage in commercial activities.
        
    * **Sole Proprietorship**: Suitable for small businesses with low initial income. No minimum capital required.
        
    * Other types include commandite companies, collective companies, and cooperatives.
        
* **Benefits of Investing in Turkey:**
    
    * **Strategic Location:** Turkey is a bridge between Europe and Asia, providing access to multiple markets.
        
    * **Growing Economy:** Turkey has a dynamic and rapidly growing economy.
        
    * **Investment Incentives:** The Turkish government offers tax breaks, subsidies, and grants.
        
    * **Skilled Workforce:** Turkey has a young and educated workforce.
        
    * **Ease of Doing Business:** The company registration process has been simplified.
        
* **Company Setup Process:**
    
    * **Choosing a Business Structure:** Decide between an LLC, JSC, or other suitable structure.
        
    * **Preparing Documents:** Gather necessary documents such as passports, articles of association, and proof of address.
        
    * **Submitting Application:** Submit the application to the Trade Registry Office through the MERSIS system.
        
    * **Tax Identification Number (TIN):** Obtain a TIN from the local tax office.
        
    * **Bank Account:** Open a corporate bank account and deposit the required capital.
        
    * **Tax and Social Security Registration**: Register with tax authorities and the Social Security Institution (SGK).
        
* **Capital Requirements:**
    
    * **JSC:** Minimum capital is **250,000 TL**, with 1/4 paid before establishment.
        
    * **LLC:** Minimum capital is **50,000 TL**, payable within 24 months.
        
* **Location Options:**
    
    * **Mainland:** Suitable for businesses targeting the local market.
        
    * **Free Zones:** Ideal for export-oriented companies, with tax advantages.
        
    * **Technoparks:** Support R&D and innovation-focused projects, with tax incentives.
        
* **Required Documents:**
    
    * **For Individual Shareholders:** Passport, residence address, contact information, tax ID, and biometric data.
        
    * **For Corporate Shareholders:** Notarized board decision, representatives' contact information, and company legal address proof.
        
* **Post-Incorporation Tasks:**
    
    * Register with the tax office and SGK.
        
    * Hire a certified public accountant (CPA).
        
    * Open a bank account.
        
    * Apply for e-ledger, e-invoice, and fiscal stamp.
        
    * Obtain a company stamp.
        
    * Apply for e-notification.
        
    * Apply for required licenses and permits.
        
* **Costs:** Company formation typically costs around **4,000 EUR**.
    
* **Timeframe:** Company formation can take 1-3 days for shareholders in Turkey, but longer for shareholders abroad.
    
* **Tax Obligations:** Companies must pay corporate income tax, provisional tax, value-added tax (VAT), income tax, stamp tax and withholding tax.
    
* **Work Permits**: Foreigners do not need a work permit to establish a company but will need one if they plan to be a director and reside in Turkey. A work permit can be obtained if the company has a paid-up capital of at least 500,000 TRY or employs at least 5 local workers.
    

**Additional Notes**

* Foreigners can own 100% of a company in Turkey.
    
* It is advisable to seek professional support from a Turkish accountant or CPA.
    
* Online company registration is possible, but professional assistance is recommended.
    
* The liquidation process is complex and lengthy, requiring guidance from a Turkish Accountant or Financial Advisor.
    
* Joint stock companies are required to have at least one lawyer.
    

This information should provide a comprehensive overview of the key aspects of registering a company in Turkey for foreign investors.

**More information:** info@ozmconsultancy.com

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