Starting a business in Turkey

A plain-English overview for founders, including foreigners: which company type to choose, what it costs to register and what happens after.

Foreign individuals and companies set up a business in Turkey under the same rules as Turkish citizens. Registration is done electronically through the central registry system (MERSİS), company formation is exempt from duties, and once the documents are complete the trade registry can finish the registration in about an hour.

Key numbers

Minimum capital — limited company: 50,000 TL; may be paid in full within 24 months after registration.
Minimum capital — joint stock company: 250,000 TL; at least 25% of the cash capital must be paid into a company bank account before registration.
Competition Authority share: 0.04% of the capital, paid during registration.
Corporate income tax: —
Standard VAT rate: —
Withholding tax on dividends to individuals: —
Directors: No requirement to be a Turkish citizen or resident in Turkey.

Tax rates are read from the same records our Turkish calculators use, so they update together.

Which company type?

Roughly 82% of Turkish companies are limited companies (the equivalent of an LLC or GmbH) and 13% are joint stock companies (a corporation or AG). Both can have a single shareholder and limit liability to the capital committed.

Compare limited and joint stock companies

What foreigners need first

Before you can be added to the company contract in MERSİS you need a Turkish tax number. Foreign shareholders and directors apply to a tax office — or online — with a passport copy and its notarised Turkish translation. The same number is needed to open the bank account for the capital.

See the setup steps

Sole proprietorship

This guide covers companies. Running a business as an individual (şahıs işletmesi) involves different registration and, for foreigners, residence and work requirements. Ask a licensed accountant before choosing this route.

Official sources

General information only, not legal or tax advice. Procedures change; confirm with the trade registry, the tax office or a licensed accountant (mali müşavir) before you file.