Setting up C-Corp Turkey

Cost of Establishing a Joint Stock Company in 2025

Hello! 👋

Are you considering setting up a Joint Stock Company (JSC) in Turkey in 2025?

This guide covers the essential costs, stages, and considerations involved in establishing a JSC.

Knowing these details will help you plan your startup expenses accurately, ensuring a smooth launch. Let’s dive into the costs and steps of the process.

Cost Overview for Establishing a JSC
Differences Between Joint Stock and Limited Companies
Cost Components in Setting Up a JSC
Stages of Setting Up a JSC
Tax Advantages in Setting Up a JSC
Why No Fixed Cost for JSC Setup?
Frequently Asked Questions (FAQs)
Steps After Establishing Your JSC

1. Cost Overview for Establishing a JSC

In 2025, the approximate cost of setting up a JSC ranges between 7,000 to 10,000 TRY, excluding accounting or legal service fees. This estimate includes notarization fees, chamber of commerce fees, and regulatory costs.

Cost Component	Estimated Cost (TRY)
Notary Fees	10.000 - 15.000
Chamber of Commerce Fees	Varies by region
Regulatory Payments	Included
Bank Blockage Fee (for capital)	2.050

Tip: Choosing a professional accounting firm that understands tax advantages can help minimize the overall tax burden.

2. Differences Between Joint Stock and Limited Companies

Tax Advantages: JSCs have tax benefits in share transfers, making them ideal for companies planning growth through equity sales.
Management Flexibility: JSCs allow for a board of directors and greater flexibility in share transfers. Limited companies lack a board structure and have stricter rules on transfers.

3. Cost Components in Setting Up a JSC

Capital Blockage and Bank Fees: A minimum of 250,000 TRY is required as capital, with 25% (62,500 TRY) blocked in a bank account until the setup is complete. Banks may charge an additional 2,050 TRY for this process.

Chamber of Commerce Fees and Regulatory Payments: Registering with the Chamber of Commerce incurs regional fees, and contributions to the Competition Authority are mandatory.

Notary Fees: Notarized signature circulars and other documents cost between 1,000 and 1,500 TRY.

Expense	Description	Approximate Cost (TRY)
Capital Blockage	Bank-Blocked Amount (25%)	62,500 (for release later)
Chamber Registration	Fees for Local Registration	Varies
Notary Services	Necessary Documents	10.000 - 15.000

4. Stages of Setting Up a JSC

This section is for your chosen accountant, but understanding the steps can help you stay informed.

Drafting the Articles of Association: The articles outline the purpose and structure of the company. Detailed drafting prevents future legal issues.
Trade Registry Registration: Register your company with the trade registry and have it announced in the Turkish Trade Registry Gazette.
Tax Office Procedures: Acquire a tax ID and register with the local tax office. Your accountant will assist with issuing tax certificates and completing authorizations.

5. Tax Advantages in Setting Up a JSC

Activity-Specific Tax Advantages

Including specific terms in the articles of association allows JSCs to benefit from tax reductions. For example, software exports to foreign clients are eligible for up to 80% tax reduction if noted in the articles.

Exemptions on Overseas Services

Services like engineering or IT offered abroad enjoy a reduced 5% corporate tax rate, contingent upon proper documentation in the articles.

6. Why No Fixed Cost for JSC Setup?

JSC setup costs vary due to regional differences in Chamber of Commerce fees, the complexity of the articles, and notary fees.

7. Frequently Asked Questions (FAQs)

1. What documents are needed to set up a JSC?

Articles of Association, notarized signature circulars, and partnership agreements.

2. What is the minimum capital for establishing a JSC?

250,000 TRY, with 25% blocked in a bank account during registration.

3. How long does the setup process take?

Typically, the registration and tax office procedures take around 2-3 business days.

4. What’s included in the setup costs?

Notary fees, bank blockage fees, Chamber of Commerce fees, Competition Authority contributions, and accounting fees.

5. How should I choose a bank for my JSC?

Compare blockage fees and prioritize banks offering online account setup for convenience.

8. Steps After Establishing Your JSC

Tax Office Notifications: Register with the tax office and complete necessary authorizations.
Bank Account Setup: A corporate bank account is essential for transactions, and some banks offer online setup options.
Financial and Accounting Requirements: Issue invoices, keep financial records, and consider e-filing options as your business grows.
Monthly Documentation: Discuss document submission deadlines with your accountant and set a regular timetable.

Task	Responsible Party	Details
Tax Notifications	Accountant	Register with the tax office
Bank Account Setup	Company	Open a corporate account
Invoice Processing	Accountant/Company	Invoice issuance and compliance
E-Filing and E-Accounting	Accountant	Transition to e-filing as needed

Summary and Conclusion

Setting up a JSC involves several costs and procedural steps, all essential to ensure a smooth business start. Knowing these costs upfront helps avoid surprises, and your accountant can guide you through tax advantages and compliance requirements.

If you’re ready to set up your JSC or need further guidance, contact Özmen Accounting today!

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For any additional queries or a free consultation on setting up your JSC, contact us at info@ozmconsultancy.com.

What is a joint-stock company in Turkey? Establishing a Joint Stock Company