How to Start a Business in Turkey as a Foreigner: A Step-by-Step Guide
How to Start a Business in Turkey as a Foreigner: A Step-by-Step Guide

How to Start a Business in Turkey as a Foreigner: A Step-by-Step Guide
🚀 Thinking About Expanding Your Business to Turkey? Here’s What You Need to Know!
Turkey is a gateway between Europe and Asia, offering foreign investors a dynamic market, cost advantages, and government incentives. Whether you're an entrepreneur, startup founder, or an established business owner looking to expand, setting up a company in Turkey can be a game-changer.
But where do you start? What are the costs? What documents do you need? This guide breaks down everything into simple steps to help you make an informed decision.
📌 Why Should Foreigners Start a Business in Turkey?
Before diving into the details, let’s highlight why Turkey is a great place for foreign investors:
✅ Strategic Location – Connects Europe, the Middle East, and Asia.
✅ Large Market – 85+ million population with increasing purchasing power.
✅ Investment Incentives – Government offers tax reductions and subsidies.
✅ Low Operational Costs – More affordable labor and rental costs compared to Europe.
✅ Easy Company Formation – You can set up a company within a few days.
🏢 Types of Companies Foreigners Can Establish in Turkey
There are five main types of companies you can register in Turkey:
| Company Type | Minimum Capital | Liability | Best for |
| Limited Company (Ltd. Şti.) | 50,000 TL | Limited to company assets | Small & medium-sized businesses |
| Joint Stock Company (A.Ş.) | 250,000 TL | Limited to shares | Large-scale businesses & public offerings |
| Branch Office | No capital required | Parent company liable | Expanding existing foreign companies |
| Liaison Office | No capital required | No commercial activity allowed | Market research before launching a business |
| Sole Proprietorship | No capital required | Unlimited personal liability | Freelancers & small businesses |
🛠️ Step-by-Step Process to Register a Business in Turkey
Setting up a company in Turkey involves several key steps:
1️⃣ Choose the Right Company Type
Consider your business model, liability, and taxation preferences.
2️⃣ Prepare Required Documents
You will need:
📌 Passport (translated & notarized)
📌 Power of Attorney (if using a consultant)
📌 Company Articles of Association
📌 Tax Number for Foreigners
📌 Business Address & Lease Agreement
3️⃣ Register Your Business on MERSIS
MERSIS (Central Registration System) is where all companies are officially registered.
4️⃣ Open a Turkish Bank Account
Deposit the minimum capital required for your company type.
5️⃣ Get Tax Registration & Social Security Registration
Your company must be registered for corporate tax, VAT, and employee social security contributions.
6️⃣ Obtain Licenses & Permits
Depending on your industry, you may need specific approvals from Turkish authorities.
⏳ Time Required: Typically, company formation takes 5-10 business days.
💰 What Are the Costs of Starting a Business in Turkey?
| Expense Type | Estimated Cost |
| Company Formation Services | €3,000 – €5,000 |
| Virtual Office | €10/month |
| Accounting & Tax Consultancy | €500/month |
| Bank Account Opening | €500 |
| Notary & Registration Fees | €1,000+ |
| Minimum Capital (Ltd. Şti.) | 50,000 TL |
Need a customized cost breakdown? 💬 Contact us for a consultation!
📜 What Taxes Do Foreign-Owned Companies Pay in Turkey?
✅ Corporate Tax: 25% on net profits
✅ VAT: Standard rate is 20%, but varies by sector
✅ Income Tax: 15-40% for individuals
✅ Withholding Tax: 10-20% on dividends, rent, and salaries
✅ Stamp Duty: Applied on contracts and payroll
Want to minimize your tax burden? 📞 Talk to our tax experts today!
🚨 Legal Obligations for Foreign Business Owners
Foreign entrepreneurs in Turkey must comply with local regulations:
📌 Trade Registry Registration – Official business registration is required.
📌 Notary Approval – Certain documents must be notarized.
📌 Social Security Compliance – If hiring employees, you must register with SGK.
📌 Hiring a Lawyer (for A.Ş. Companies) – Mandatory for joint stock companies.
Need help navigating Turkish business laws? 📩 Book a free consultation now!
❓ Frequently Asked Questions (FAQs)
1️⃣ Can I own 100% of my company as a foreigner?
✅ Yes! Foreigners can fully own companies in Turkey.
2️⃣ Do I need a Turkish partner to register a business?
❌ No, you don’t need a local partner.
3️⃣ How long does it take to start a business?
⏳ On average, 5-10 business days.
4️⃣ Can I get a residence permit by opening a company?
✅ Yes, but you may need additional permits based on investment size.
5️⃣ What if I want to close my company later?
📌 Liquidation takes around 6-12 months and requires professional assistance.
🎯 Why Work With Us?
If you try to set up a business alone, you might face:
❌ Complicated paperwork – Time-consuming and overwhelming
❌ Hidden costs – Unexpected fees and taxes
❌ Legal risks – Non-compliance with Turkish business laws
❌ Language barriers – Dealing with authorities in Turkish
🚀 With our expert team, you get:
✅ Full Legal & Tax Compliance – No costly mistakes
✅ Fast & Hassle-Free Registration – Your company is up and running in days
✅ Affordable Packages – No hidden costs, clear pricing
✅ End-to-End Support – From registration to tax consulting
📞 Ready to Start? Contact Us Today!
info@ozmconsultancy.com






