Chamber of Commerce

Membership of a Chamber of Commerce is mandatory. Company formation and registration is carried out at a Chamber of Commerce. Every city in Turkey has a Chamber of Commerce and a Chamber of Industry.

TOBB is the national Union of Chambers of Commerce, Industry, Maritime Trade and Commodity Exchanges. TOBB membership comprises 363 chambers representing 1.2 million companies, while TISK with more than 2.7 million members, is the Turkish Confederation of Employer Associations.

To constitute a company, first of all a written contract has to be prepared for signature by every founder. This agreement must contain certain obligatory clauses as the the trade name and centre of the company, each founder’s full name and address, the nationality and details of foreign partners, the activities of the company, the capital of the company, the amount of reserved funds, and aspects regarding to the profit and loss, appointment of the directors and the board of directors among other areas.

Relevant legislation

In Turkey today, legislation relevant to foreign investments is contained in:

  • The Foreign Direct Investment (FDI) Act
  • The Foreigners’ Work Permit (FWP) Act

Foreign Investors

  • Foreign nationals or Turkish citizens residing outside the country,
  • Legal entities or international institutions which are founded in accordance with regulations of a foreign country and
  • The basis of the Foreign Direct Investment Act, largely, is parity between domestic investors and foreign ones, except where international contracts or special provisions may require.

Foreign and domestic investors are required to follow largely the same processes, especially in establishing investment companies, and possess similar rights and obligations.

Information and documents required for Foreign Shareholders:

  • Name or trade name of the shareholder
  • Address
    If the shareholder is a legal entity: 
  • Decision of the board of directors to establish the new company (Must be certified by the local authority and apostilled)
  • Certificate of Activity
  • Article of Association
  • Signature circular of the company showing the authorized representatives of the company (These documents will be obtained from the Chamber of Commerce or Trade Registry where the foreign shareholder is registered and apostilled)
    If the shareholder is a real person:
  • his passport
  • Power of attorney authorizing us for representing the shareholder for establishment procedure. (We will submit the draft)