Company formation in Türkiye for foreigners.

Which structure suits you?

• Limited company (Ltd. Şti.): The most common choice; the minimum capital under current rules is TRY 50,000. It can be formed with a single partner, who may be a foreign individual or legal entity.
• Joint stock company (A.Ş.): Minimum capital is TRY 250,000 (TRY 500,000 for non-public joint stock companies adopting the registered capital system). Preferred for corporate investment and flexibility in share transfers.
• Branch of a foreign company: Operates as an extension of the parent company; no separate legal entity is formed.
• Liaison office: Cannot carry out commercial activity; it is for market research and representation, and requires permission from the Ministry of Industry and Technology.

Formation process

1. Tax number: A potential tax identification number is obtained for foreign partners and directors.
2. Document preparation: Notarised translation of the passport, documents on the address and partnership structure; apostilles for documents from abroad.
3. MERSİS and articles of association: The articles of association are prepared on MERSİS and registered with the trade registry.
4. Tax and SGK registration: Tax office registration, workplace SGK registration where needed, and certification of the books are completed.
5. Bank and operations: A company account is opened; for joint stock companies, one quarter of the capital must be blocked before registration.

The whole process can also be carried out by power of attorney, without the foreign partner needing to come to Türkiye.

Setting up a company does not give a work permit

The most critical point: setting up or becoming a partner in a company does not by itself give the foreign national the right to work. Partners who will actually work in or manage the company must obtain a separate work permit; the share ratio and capital conditions are decisive in that application. Planning the two processes — formation and permit — on one calendar prevents the most common mistakes from the start.

Tax and compliance

After formation, corporate tax, VAT, withholding tax and SGK obligations need regular follow-up. Planning your company's accounting processes at the same time as formation is the soundest way to avoid first-year penalties. We clarify the scope for your file in the consultation.