How to Start a Company in Turkey: Step-by-Step Guide

• Dentistry
• Veterinary medicine
• Legal practice
• Notary services
• Private security services
• Maritime and tourism activities

Free Economic Zones (FEZs)

• Transportation accessibility
• Ability to supply goods both to the domestic and international markets
• Exemption from customs duties
• Exemption from VAT, consumption tax, and payroll taxes
• Unlimited time for storing goods in warehouses
• Ability to conduct various transactions with production facilities (e.g., sale, donation) by individuals
• Low land rent
• Reduced electricity tariffs
• No currency restrictions and free movement of funds outside the country
• No restrictions on investments in enterprises

How to Open a Business in Turkey — Step-by-Step Guide

• STEP 1. Choose the type of company The main company types in Turkey are:
  • Sole Proprietorship (şahıs şirketi) — Available to those who have lived in Turkey with a residence permit for 5 years or more. Taxes: 15%-40%.
  95% of foreign companies in Turkey are:
  • LLC (limited şirketi) — Limited liability companies where capital is divided into shares, and shareholders are liable for company debts with their assets. An LLC can have one founder, and the number of partners cannot exceed 50 (individuals or legal entities). The company can be managed by a foreigner. Minimum capital is 10,000 TL. Corporate tax on profits is 23%.
  • JSC (anonim şirketi) — Joint-stock companies where capital is divided into shares, and the corporate entity is responsible for debts only with its assets, while shareholders are liable only for the capital shares they hold. The company can be managed by foreigners. Minimum capital is 50,000 TL. Corporate tax on profits is 23%.
  Foreigners can also register subsidiaries, LLCs, JSCs, branches (which can conduct commercial activities), and representative offices (which cannot conduct commercial activities).

• STEP 2. Find an accountant

  Every registered company in Turkey is required to have a licensed accountant for bookkeeping and filing tax returns. The accountant also plays a crucial role in setting up the company. You can either hire an in-house accountant or outsource these services.

• STEP 3. Obtain a tax number

  Founders must obtain a Turkish tax number from the tax office. How to get a tax number: On the Turkish Tax Service’s online portal İnteraktif Vergi Dairesi https://dijital.gib.gov.tr/, submit documents and generate a request for a personal tax number. The code is issued in PDF format.

• STEP 4. Prepare documents

  The complete list of required documents can be obtained from a lawyer or accountant. The basic package for registering a company in Turkey includes:
  • Passport with an apostille and a notarized translation into Turkish (original and 2 copies).
  • ID photos of founders and directors.
  • Signature samples of founders (2 copies).
  • Company incorporation documents (articles of association), notarized.
  • Turkish tax number.
  • Official address of the company (physical office or virtual address).
  Documents need to be apostilled, and a notarized translation is required. If the founder is a legal entity, additional documents such as an extract from the commercial register, a resolution of the general meeting of founders to open a subsidiary in Turkey, and a power of attorney for the authorized representative are required.

• STEP 5. Register in MERSİS and the Regional Chamber of Commerce

  Next, you will need to prepare the incorporation documents and apply for registration in the Central Registration System (MERSİS) at mersis.ticaret.gov.tr. You will need your tax number. Forms must be filled out in Turkish. A preliminary tax number will be assigned, which will be required to deposit the charter capital. Signatures of those authorized to represent the company must be certified by a competent authority. For this, signature declarations are prepared at any trade registry.

• STEP 6. Open a bank account

  The bank will require incorporation documents, a certificate of company registration from the Chamber of Commerce, a copy of the tax number, proof of the official address, and other documents depending on the bank.

• STEP 7. Deposit the minimum capital

  Capital can be deposited in parts, but 25% must be paid before the registration is completed. You must also obtain a receipt for depositing 0.04% of the charter capital into the account of the Competition Authority (Rekabet Kurulu).

• STEP 8. Register the company with the tax office

  After registration with the Chamber of Commerce, the company must be registered with the tax office to obtain a tax ID for the business. The accountant handles this process.

• STEP 9. Register employees

  All company employees must be registered in Turkey's social security system.

• STEP 10. Legalize your stay in Turkey

  You will need to apply for a residence permit and health insurance.

Conclusions

• Citizenship registration with a down payment of 50% of the property value in some of our projects (the remaining amount is in interest-free installments).
• Package offers of multiple properties that align with your goals and investment plans.
• Property options eligible for residency permits.

Can Foreigners Buy a Ready-Made Business in Turkey?

• Official registration
• Client base, premises, reputation, and workforce
• Tax history

How does the process of buying an existing business in Turkey work for foreigners?