Turkey Company Formation Cost 2027: Full Breakdown for Foreigners
Turkey Company Formation Cost 2027: Full Breakdown for Foreigners
Turkey Company Formation Cost 2027: Full Breakdown for Foreigners
How much does it cost to establish a company in Turkey in 2027?
A foreign investor should normally budget approximately EUR 2,500–5,000 for the complete incorporation of a standard Turkish limited liability company, excluding share capital, office rent, work permits and ongoing accounting costs.
The final amount depends on:
The company type,
Number of shareholders and directors,
Whether the shareholder is an individual or a foreign company,
Translation and apostille requirements,
The length of the articles of association,
The city where the company is registered,
Whether the incorporation is completed remotely,
The professional services included in the package.
This guide explains the expected cost of forming a company in Turkey in 2027, including government charges, minimum capital, notary fees, translation costs, registered office expenses, accounting fees and frequently overlooked costs.
Important: Turkey’s official 2027 registration, notary and publication fees have not yet been announced. The figures below are planning estimates based on the rules and costs available as of August 2026. This article will be updated when the official 2027 tariffs are published.
Turkey Company Formation Cost 2027: Quick Answer
The expected budget for establishing a foreign-owned company in Turkey in 2027 is:
| Cost item | Estimated amount |
|---|---|
| Trade Registry, Chamber and Gazette fees | EUR 300–800 |
| Notary, translation and interpreter costs | EUR 300–1,000 |
| Books, signatures and initial registrations | EUR 150–400 |
| Professional incorporation services | EUR 1,500–3,500 |
| Registered or virtual office | EUR 100–500 per month |
| Minimum capital for an LLC | TRY 50,000 |
| Minimum capital for a JSC | TRY 250,000 |
| Estimated total excluding capital and office | EUR 2,500–5,000 |
A formation involving a foreign corporate shareholder is usually more expensive because additional documents must be:
Obtained from the foreign country,
Apostilled or legalized,
Translated into Turkish,
Notarized,
Submitted to the Turkish Trade Registry.
Can a Foreigner Establish a Company in Turkey?
Yes.
Foreign nationals and foreign companies can establish and own Turkish companies. In most sectors, a Turkish citizen or Turkish shareholder is not required.
A foreign investor can generally:
Own 100% of a Turkish company,
Act as the company manager or board member,
Establish the company alone,
Appoint another person as manager,
Complete much of the process through a power of attorney,
Transfer profits abroad subject to tax and banking rules.
Turkey applies the principle of equal treatment to domestic and foreign investors under its foreign direct investment legislation.
Official guidance is available from the Investment Office of the Presidency of Türkiye.
However, owning a company and working in Turkey are different legal matters.
Establishing or owning a Turkish company does not automatically grant the foreign shareholder a residence permit or work permit.
Which Company Type Should a Foreigner Choose?
The two most common company types are:
Limited Liability Company – Limited Şirket, or LTD
Joint Stock Company – Anonim Şirket, or A.Ş.
For most small and medium-sized foreign-owned businesses, an LLC is the more practical option.
LLC vs JSC in Turkey
| Feature | Limited Liability Company | Joint Stock Company |
|---|---|---|
| Turkish name | Limited Şirket | Anonim Şirket |
| Minimum capital | TRY 50,000 | TRY 250,000 |
| Minimum number of shareholders | 1 | 1 |
| Maximum number of shareholders | 50 | No general limit |
| Suitable for | SMEs, consultants, software and service companies | Larger operations, investors and scalable businesses |
| Management | One or more managers | Board of directors |
| Share transfer | More formal and generally registered | Usually more flexible |
| Public offering | Not available | Possible if legal requirements are met |
| Investor structure | Relatively simple | More suitable for multiple investment rounds |
| Typical formation cost | Lower | Higher |
The Ministry of Trade confirms that the minimum capital is currently TRY 50,000 for an LLC and TRY 250,000 for a JSC. These amounts should be checked again if legislation changes before incorporation in 2027. Ministry of Trade – Minimum Capital Amounts
How Much Capital Is Required to Form a Company in Turkey in 2027?
Minimum capital for a Turkish LLC
The statutory minimum capital for a limited liability company is currently:
TRY 50,000
An LLC’s cash capital does not generally have to be fully deposited before registration. The committed capital may normally be paid within 24 months following the company’s registration, subject to the articles of association and applicable legislation.
Minimum capital for a Turkish JSC
The statutory minimum capital for a joint stock company is currently:
TRY 250,000
For a JSC, at least 25% of the committed cash capital must generally be paid before registration. The remaining amount may normally be paid within 24 months following registration.
Is share capital a company formation expense?
No.
Share capital is not a professional fee or government charge. It belongs to the company and can generally be used for legitimate business expenses after the incorporation and capital payment procedures are completed.
For example, the company may use its paid capital for:
Rent,
Employee salaries,
Equipment,
Software subscriptions,
Marketing,
Inventory,
Professional services,
Other business expenses.
A foreign investor should therefore distinguish between:
Formation costs, which are paid to establish the company, and
Share capital, which remains an asset of the company.
Full Breakdown of Turkey Company Formation Costs in 2027
1. Trade Registry and Chamber of Commerce Fees
A Turkish company must be registered with the competent Trade Registry and Chamber of Commerce.
The initial registration expenses may include:
Trade Registry service charges,
Chamber registration charges,
Turkish Trade Registry Gazette publication,
Establishment statement fees,
Document and certification charges,
Competition Authority contribution,
Initial chamber membership expenses.
The exact amount depends on:
The city,
Company type,
Capital amount,
Number of managers or board members,
Length of the articles of association,
Number of registered activity codes,
Number of documents published in the Trade Registry Gazette.
Estimated 2027 cost
EUR 300–800
Longer articles of association and more complex management structures can increase the Gazette and registration charges.
Current tariffs and announcements can be checked through the Istanbul Chamber of Commerce.
2. Notary Costs
Notary expenses may arise for:
Power of attorney,
Signature declarations,
Signature circular,
Passport translations,
Foreign company documents,
Manager acceptance declarations,
Commercial book certifications,
Certified document copies,
Lease agreements in certain cases.
Estimated 2027 cost
EUR 200–700
The final cost varies considerably depending on the number and length of the documents.
A remote incorporation requiring a detailed bilingual power of attorney can cost more than an incorporation completed personally in Turkey.
3. Sworn Translation Costs
Documents issued outside Turkey generally need to be translated into Turkish by a sworn translator.
Common documents requiring translation include:
Passport,
Foreign company registry certificate,
Articles of association of the foreign shareholder,
Certificate of activity,
Board resolution,
Power of attorney,
Tax residency or address documents.
Estimated 2027 cost
EUR 100–500
The amount depends on:
The language,
Number of pages,
Complexity of the documents,
Urgency,
Notarization requirements.
Documents in less commonly translated languages may be more expensive.
4. Apostille and Legalization Expenses
Documents issued abroad may need an apostille under the Hague Apostille Convention.
If the issuing country is not a party to the relevant convention, the documents may instead require:
Certification by the relevant foreign authority,
Turkish consular legalization,
Additional approval in Turkey.
Estimated cost
EUR 50–500 or more
This cost is usually paid in the investor’s home country and may not be included in the Turkish formation package.
The procedure should be confirmed before the foreign documents are issued. An incorrectly prepared or expired document can delay registration and create duplicate costs.
5. Professional Company Formation Fees
Professional incorporation services may include:
Initial legal and tax consultation,
Selection of the appropriate company type,
Preparation of the articles of association,
MERSİS application,
Tax number applications for shareholders,
Coordination with sworn translators and notaries,
Trade Registry appointment,
Chamber of Commerce registration,
Tax office registration,
Signature circular procedures,
Electronic notification registration,
Social security workplace registration, if required,
Support with bank account opening,
Initial accounting setup.
Expected 2027 professional fee
| Structure | Typical professional fee |
|---|---|
| LLC with one foreign individual shareholder | EUR 1,500–2,500 |
| LLC with multiple foreign shareholders | EUR 2,000–3,500 |
| LLC owned by a foreign company | EUR 2,500–4,000 |
| Foreign-owned JSC | EUR 3,000–5,000+ |
| Turkish branch of a foreign company | Case-specific |
The cheapest advertised package may not include tax registration, sworn translations, bank support, accounting setup or post-registration filings.
Foreign investors should request a written list of included and excluded services before making a payment.
6. Registered Office Cost
Every Turkish company must have a registered address in Turkey.
The address may be:
A physical office,
A serviced office,
A qualifying virtual office,
A shared office,
In certain cases, another legally acceptable business address.
Expected 2027 office costs
| Office type | Estimated monthly cost |
|---|---|
| Basic virtual office | EUR 100–250 |
| Premium virtual or serviced office | EUR 200–500 |
| Small physical office in Istanbul | EUR 500–2,000+ |
| Office in another major city | Depends on location |
The company’s address may be visited by the tax office as part of the commencement inspection.
A cheap address that cannot receive official notices or pass a tax-office inspection can cause:
Delayed tax registration,
Inactive taxpayer status,
Missed official notices,
Bank account problems,
VAT refund or compliance difficulties.
The address should therefore be selected for legal and operational suitability—not only price.
7. Commercial Books, E-Signature and Electronic Systems
After incorporation, the company may need:
Statutory commercial books,
Notarization or electronic book setup,
Qualified electronic signature,
Registered electronic mail account, known as KEP,
Electronic notification account,
E-invoice or e-ledger setup where applicable,
Accounting software integration.
Estimated initial cost
EUR 150–500
The amount depends on the company type, applicable electronic obligations and service providers.
8. Corporate Bank Account Opening Costs
Turkish banks do not usually charge a large “company formation fee” for opening a corporate bank account. However, there may be costs for:
Translated corporate documents,
Signature procedures,
Internet banking devices,
Courier services,
Initial deposits,
Compliance documentation,
Travel to Turkey,
Professional bank-account assistance.
Expected practical cost
EUR 0–1,000+
The greater issue is usually not the bank fee but whether the bank approves the application.
Banks may request information about:
Ultimate beneficial owners,
Source of funds,
Expected turnover,
Countries of operation,
Main customers and suppliers,
Business contracts,
Tax residency,
Physical presence in Turkey,
Reason for establishing the Turkish company.
Incorporating a company does not guarantee that a Turkish bank will open an account.
Bank account approval is ultimately subject to the bank’s internal compliance rules.
9. Certified Public Accountant and Monthly Accounting Fees
A Turkish company must maintain statutory accounting records and submit tax declarations even if:
It has no sales,
It has not yet opened a bank account,
It does not employ anyone,
It is temporarily inactive,
Its customers are entirely outside Turkey.
Foreign-owned companies generally need English-speaking accounting support for:
Monthly bookkeeping,
VAT returns,
Withholding tax returns,
Payroll declarations,
Social security filings,
Provisional corporate tax,
Annual corporate tax return,
E-ledger and e-invoice compliance,
Foreign-currency transactions,
Related-party transactions,
Shareholder and manager payments.
Expected monthly accounting cost in 2027
| Business profile | Estimated monthly fee |
|---|---|
| Inactive or very small company | EUR 250–500 |
| Small active company | EUR 500–1,000 |
| Foreign-owned company requiring English reporting | EUR 750–1,500+ |
| Company with payroll, imports, exports or high transaction volume | Case-specific |
Annual certifications, transfer-pricing reports, payroll services and independent audit work may be charged separately.
Accounting should be included in the investor’s budget from the month of incorporation—not from the month in which the company starts generating revenue.
10. Payroll and Employee Registration Costs
If the company employs personnel, additional setup and monthly costs may include:
Social Security Institution workplace registration,
Employee onboarding,
Monthly payroll preparation,
Social security declarations,
Income tax withholding,
Employment contracts,
Occupational health and safety services,
Mandatory workplace records.
Payroll processing may be charged:
Per employee,
As a fixed monthly package,
In addition to the accounting fee.
Foreign employees may also require work permits.
11. Work Permit and Residence Permit Costs
Company incorporation does not automatically provide:
A Turkish work permit,
A residence permit,
Turkish citizenship,
Permission to perform work in Turkey.
A foreign shareholder may own the company without a work permit. However, actively working for or managing the business from Turkey can create work-permit requirements.
Possible additional costs include:
Government work-permit fees,
Residence permit fees,
Health insurance,
Translation and notary expenses,
Legal or consultancy services,
Immigration documentation.
These costs are not normally included in the company formation price.
Work-permit applications are also subject to financial and employment criteria. Establishing an LLC with minimum capital does not automatically mean that the foreign shareholder qualifies for a work permit.
Individual Shareholder vs Foreign Corporate Shareholder
A company with an individual shareholder is generally cheaper and faster to establish.
Individual foreign shareholder documents
The investor will commonly need:
Passport,
Turkish tax number,
Address information,
Passport translation,
Power of attorney if the process is remote,
Passport-sized photographs in some procedures,
Contact details.
Foreign corporate shareholder documents
If the shareholder is a foreign company, additional documents are normally required:
Foreign company registry extract,
Certificate of activity or good standing,
Articles of association,
Board resolution approving the Turkish investment,
Board resolution appointing a representative,
Power of attorney,
Beneficial ownership documents,
Authorized signatory evidence.
These documents may need to be:
Recently issued,
Apostilled or legalized,
Translated into Turkish,
Notarized in Turkey.
Additional expected cost
A foreign corporate shareholder may increase the total formation cost by approximately:
EUR 500–1,500 or more
It may also add one to three weeks to the preparation period, depending on the country of origin.
Can a Turkish Company Be Established Remotely?
Yes, in many cases.
A foreign investor can grant a properly drafted power of attorney to a representative in Turkey. The representative may then coordinate:
Tax number applications,
MERSİS procedures,
Articles of association,
Trade Registry registration,
Chamber registration,
Notary procedures,
Tax office registration.
However, the power of attorney must be prepared correctly.
Depending on the country, it may require:
Signature before a local notary,
Apostille,
Turkish consular legalization,
Sworn translation,
Turkish notary certification.
Does the shareholder need to visit Turkey?
A visit may not be required for the actual incorporation. However, personal presence may still be helpful or requested for:
Corporate bank account opening,
Work permit procedures,
Residence permit application,
Obtaining certain electronic banking facilities,
Sector-specific licenses.
A remote formation should therefore not be marketed as a guaranteed “zero-visit” solution unless the banking and licensing requirements have also been reviewed.
How Long Does It Take to Establish a Company in Turkey?
Once all documents are correctly prepared, a standard company may often be registered within:
3–10 business days
The complete process may take approximately:
1–3 weeks
This includes registration, notary procedures, tax office registration and initial accounting setup.
Typical timeline
| Stage | Estimated time |
|---|---|
| Structure and tax planning | 1–3 days |
| Preparation of foreign documents | 3–15 days |
| Translation and notary procedures | 1–3 days |
| MERSİS and Trade Registry application | 1–5 days |
| Company registration | Usually same day as approved appointment |
| Tax office and post-registration setup | 2–7 days |
| Bank account opening | Several days to several weeks |
The main causes of delay are usually:
Incorrect apostille,
Expired foreign company documents,
Missing board resolution,
Restricted company name,
Activity requiring government approval,
Inadequate registered address,
Bank compliance review.
Sample Budget: One-Person Foreign-Owned LLC
Assume that a foreign software consultant wants to establish a Turkish LLC with:
One foreign individual shareholder,
One foreign manager,
TRY 50,000 capital,
A virtual office,
No employee at incorporation,
Remote formation through a power of attorney.
An illustrative 2027 budget may look like this:
| Item | Estimated cost |
|---|---|
| Trade Registry and Chamber charges | EUR 400–700 |
| Notary and sworn translation | EUR 300–700 |
| Books, signatures and electronic setup | EUR 150–400 |
| Professional incorporation service | EUR 1,500–2,500 |
| Virtual office deposit and first month | EUR 150–500 |
| Total initial cash cost | EUR 2,500–4,800 |
| Committed share capital | TRY 50,000 |
| Monthly accounting | EUR 500–1,000+ |
The share capital is shown separately because it remains company money rather than a formation expense.
Sample Budget: Turkish LLC Owned by a Foreign Company
Assume that a company based in the United Kingdom, Germany, UAE or the United States wants to establish a wholly owned Turkish subsidiary.
| Item | Estimated cost |
|---|---|
| Foreign corporate documents | EUR 100–500 |
| Apostille or legalization | EUR 100–500 |
| Turkish translation and notarization | EUR 300–1,000 |
| Trade Registry and Chamber charges | EUR 500–1,000 |
| Professional incorporation service | EUR 2,500–4,000 |
| Initial electronic and accounting setup | EUR 200–600 |
| Estimated total | EUR 3,700–7,600 |
| Minimum LLC capital | TRY 50,000 |
Complex ownership structures, regulated activities and multiple directors can increase the cost.
Hidden Costs Foreign Investors Often Miss
The company formation fee is only one part of the real budget.
Foreign investors should also consider:
Monthly accounting fees,
Registered office rent,
Annual commercial book certification,
E-ledger and e-invoice expenses,
Chamber annual dues,
Payroll processing,
Social security contributions,
Work permit expenses,
Occupational health and safety services,
Legal contract reviews,
Transfer-pricing documentation,
Independent audit, if applicable,
Bank compliance and travel expenses,
Tax returns for inactive periods,
Company closure or liquidation costs.
The cost of closing the company
A Turkish company cannot normally be abandoned informally.
A voluntary liquidation may take several months and requires:
Liquidator appointment,
Trade Registry filings,
Creditor announcements,
Tax declarations,
Accounting during liquidation,
Final closure procedures.
Investors should therefore decide on the correct structure before incorporation.
What Taxes Does a Turkish Company Pay in 2027?
Turkey’s 2027 tax rates may be changed before or during the year. Under the rules available when this guide was prepared, the main taxes include:
| Tax | Current general treatment |
|---|---|
| Corporate income tax | General rate currently 25% |
| VAT | General rate generally 20% |
| Dividend withholding tax | Applies when profits are distributed, subject to legislation and tax treaties |
| Payroll income tax | Progressive rates |
| Social security | Employer and employee contributions |
| Withholding tax | May apply to rent, professional services and certain payments |
| Stamp tax | May apply to contracts, payroll and other documents |
The Turkish Revenue Administration currently states a general corporate income tax rate of 25%. The rate applicable to 2027 should be reconfirmed before preparing projections. Turkish Revenue Administration
A company’s effective tax rate may be lower if it qualifies for incentives such as:
Export income corporate tax reduction,
Service export deduction,
Technopark exemption,
R&D and design incentives,
Free-zone incentives,
Investment incentive certificates,
International Financial Center incentives.
The correct tax model should ideally be selected before the company is incorporated.
Can a Foreign-Owned Company Pay Zero Corporate Tax in Turkey?
Potentially, but not merely because its shareholder or customer is foreign.
Certain companies may achieve a low or zero effective corporate tax burden if they meet the conditions of a specific incentive.
Examples may include:
Qualifying software and R&D income earned in a technopark,
Certain services provided exclusively to foreign customers,
Qualifying activities performed within the Istanbul Financial Center,
Certain manufacturing activities in a free zone,
Other specifically regulated incentive structures.
The following statements are not sufficient by themselves:
“My customer is abroad.”
“The money is received in a foreign bank.”
“The invoice is in euros.”
“The shareholder is not Turkish.”
“The company exports services.”
The company must satisfy the legal conditions of the relevant exemption or deduction and maintain supporting documentation.
Is an LLC Always the Cheapest Option?
An LLC is normally cheaper to establish and operate than a JSC. However, the least expensive structure at incorporation may not be the best structure in the long term.
A JSC may be more suitable where:
External investment is expected,
Shares will be transferred frequently,
Several investors will participate,
A more formal governance structure is needed,
The company may issue different share groups,
The business may eventually make a public offering,
Share-transfer tax treatment is important.
For a single foreign consultant, developer or small trading business, an LLC is usually sufficient.
Turkey Company Formation Cost 2027: Final Checklist
Before establishing a company, a foreign investor should confirm:
The correct company type,
Shareholder and manager structure,
Minimum and recommended capital,
Whether the activity requires a license,
Whether a work permit will be needed,
Registered office suitability,
Expected banking requirements,
VAT treatment,
Corporate tax incentives,
Monthly accounting cost,
Payroll and social security obligations,
Documents requiring apostille,
Whether the process can be completed remotely,
Estimated closure cost if the project does not continue.
Frequently Asked Questions
How much does it cost to open a company in Turkey in 2027?
A standard foreign-owned LLC will generally require an estimated incorporation budget of EUR 2,500–5,000, excluding share capital, office rent and ongoing accounting.
What is the minimum capital for a Turkish LLC in 2027?
Under the rules currently in force, the minimum capital is TRY 50,000. This amount should be checked again before registration in case of a legislative amendment.
What is the minimum capital for a Turkish JSC?
The current statutory minimum is TRY 250,000.
Does a foreign shareholder need a Turkish partner?
Generally, no. A foreign person or foreign company can own 100% of a Turkish LLC or JSC in most business sectors.
Can one foreigner establish a Turkish company alone?
Yes. Both an LLC and a JSC can generally be established with one shareholder.
Can the company be incorporated remotely?
Usually yes, through a properly issued, apostilled or legalized and translated power of attorney. Bank account opening may still require personal attendance.
Does establishing a company provide a residence permit?
No. Company ownership and immigration status are separate matters.
Does establishing a company provide a work permit?
No. A separate work-permit application may be necessary if the foreign shareholder actively works in Turkey.
Is company capital paid to the government?
No. Share capital belongs to the company and is not a government fee.
Can a foreign-owned company open a Turkish bank account?
It can apply, but approval is subject to the bank’s compliance and know-your-customer procedures. Company formation does not guarantee account opening.
Does an inactive Turkish company need an accountant?
Yes. A registered company continues to have accounting, tax-return and compliance obligations even if it has no transactions.
How long does company formation take?
Registration may be completed within several business days after all documents are ready. The complete process commonly takes one to three weeks, excluding extended bank compliance reviews.
Establish a Company in Turkey with an English-Speaking CPA
The cheapest incorporation package is not always the lowest-cost solution.
Incorrect decisions concerning the company type, manager, registered address, work permit, VAT treatment or tax incentive can cost much more than the initial formation fee.
OZM Consultancy assists foreign investors with:
LLC and JSC formation,
Foreign corporate shareholder structures,
Remote incorporation by power of attorney,
Tax registration,
Registered office arrangements,
Corporate bank account preparation,
Monthly accounting and tax compliance,
Payroll and social security,
Technopark and service-export incentives,
Tax planning for foreign shareholders,
Coordination of residence and work-permit processes.
Before incorporation, we can provide a written cost estimate based on:
The shareholder’s country,
Individual or corporate ownership,
Proposed activity,
Number of shareholders and managers,
Expected employees,
Office requirements,
Tax incentive eligibility.
Contact OZM Consultancy for a tailored 2027 company formation quotation and a clear list of all included and excluded costs.
