Company Incorporation in Turkey
Turkey is one of the most strategically positioned economies in the world, connecting Europe, Asia, and the Middle East. Due to its geographical location and rapidly developing infrastructure, company incorporation in Turkey has become increasingly attractive for international entrepreneurs and investors.
As a G20 country, Turkey provides direct access to large international markets and serves as an important trade hub linking Europe with the Middle East, North Africa, Central Asia, and the Gulf region. Companies established in Turkey often use the country as a base for regional operations, manufacturing, logistics, and international trade.
For investors planning to incorporate a company in Turkey, the jurisdiction offers a relatively simple registration process, competitive operational costs, and a business environment that welcomes foreign investment.
Advantages of Incorporating a Company in Turkey
Entrepreneurs often choose Turkey company incorporation due to the country’s strong economic potential and favorable business conditions.
Strategic Location
Turkey provides access to several major economic regions including Europe, the Middle East, Central Asia, North Africa, and the Gulf countries.
Investment-Friendly Environment
Foreign investors are allowed to establish companies in Turkey under transparent regulations that provide legal protection for business activities.
Government Incentives
Turkey offers various investment incentive programs for specific sectors such as manufacturing, technology, research and development, and export-oriented industries.
Simple Company Registration
The procedure for registering a company in Turkey is relatively straightforward and may be completed within a short timeframe. In some cases, the incorporation process can also be conducted remotely.
Competitive Business Costs
Compared with many other jurisdictions used by international entrepreneurs, maintaining and servicing a company in Turkey can be relatively cost-efficient.
Corporate Taxation in Turkey
Companies operating in Turkey are subject to the national taxation system.
The key taxes include:
- Corporate income tax — 23%
- Value Added Tax (VAT) — 18%
- Withholding tax for non-residents dividends — 10%
- interest — 10%
- royalties — 20%
Actual tax obligations depend on the type of activity and applicable tax treaties.
Types of Companies in Turkey
When planning company incorporation in Turkey, foreign investors may choose between several legal structures.
Limited Liability Company (LLC)
A limited liability company is one of the most commonly used business forms for small and medium-sized enterprises.
Joint Stock Company (AŞ)
This structure is usually used for larger businesses, investment projects, or companies planning to attract external investors.
Branch Office
A branch allows a foreign company to operate in Turkey without establishing a separate legal entity.
Representative Office
Representative offices are generally used for non-commercial activities such as marketing research and liaison operations.
Requirements for Company Incorporation in Turkey
To register a company in Turkey, several formal requirements must be met.
Company type: LLC, Joint Stock Company, branch, or representative office
Business activity: at least one main activity must be declared
Shareholders:
minimum one shareholder (individual or legal entity)
Director:
at least one director must be appointed
Minimum share capital
- 10,000 TL for an LLC
- 50,000 TL for a joint stock company
Part of the capital may be paid after registration, while the remaining amount can be contributed within the period allowed by law.
Every company must also have a registered address in Turkey.
How a Non-Resident Can Open a Company in Turkey
Non-residents may establish a business in Turkey in several ways:
- registering a new company remotely
- registering a company while physically present in Turkey
- purchasing a ready-made company
In practice, personal presence can sometimes speed up the process, especially when opening a bank account. Many banks prefer the company director to be present at the branch during the account opening procedure.
The Procedure for Opening a Company and a Bank Account in Turkey for Non-Residents
| Stage description | Timing |
|---|---|
| If you decide to register a company in Turkey remotely, you must prepare and send to Turkey a legalized power of attorney authorizing lawyers to register the company on your behalf. | Depends on the rules of the Turkish Consulate in your country |
| Collection of documents and introductory information about the type of company, field of activity, shareholders and directors, the size of the authorized capital, address and proposed names for the future company. | From 1 to 5 working days |
| Preparation of the Charter and other company documents based on collected information. A meeting is scheduled at the Turkish Chamber of Commerce to sign these documents. | 2–3 working days |
| Meeting at the Turkish Chamber of Commerce. | 1 working day |
| Meeting with a notary to certify circulars signed by company executives and appoint a local accountant. | 1 working day |
| Opening a bank account. | 1–2 working days |
| Tax registration of the Turkish company. | 1 working day |
Ready-Made Company in Turkey
Entrepreneurs who wish to start operating faster may consider purchasing a ready-made company in Turkey. This option allows investors to bypass the full registration timeline and begin business activities more quickly.
The transfer procedure depends on the legal structure of the company and the status of its documentation.
Cost of Company Incorporation in Turkey
According to the available information, the cost of opening a company in Turkey starts from approximately €2,600.
The final cost depends on several factors:
- the chosen registration method
- number of shareholders and directors
- bank account opening requirements
- accounting and legal services
- region of company registration
If all documents are prepared correctly, company incorporation and bank account opening in Turkey may take approximately 5–10 business days.