Turkey’s movement toward membership in the EU is creating momentum for adopting European business regulations and standards, thereby making it easier to establish a company in Turkey.

The registration and establishment of a company in Turkey can be completed in one day but it is best to allow three days. The process is now handled by one ministry which acts as the coordinator between all authorities. There are no rules requiring a Turkish participation in the capital or management of a company with foreign capital.

  • Only 3 days days to incorporate.
  • 100% foreign shareholders allowed.
  • Only 2 shareholders required
  • Equal treatment for domestic and foreign shareholders.
  • Capital requirement is TL 5,000 < about €2,500>
  • Directors can be of any nationality.
  • Company Formations are now dealt with by one ministry which acts as the coordinator between all authorities.
  • Automatic membership of the Chamber of Commerce for your company.
  • No obligation requiring Turkish participation in the management of your company.

Who can incorporate a company in Turkey?

We can establish your company in İstanbul, Ankara and Antalya, Turkey irrespective of your nationality or place of residence.

Foreign investors can incorporate a company in Turkey. A foreign investor is defined as a company registered outside Turkey, or a non-Turkish national.

Directors can be foreigners since there is no obligation that managers or directors should be Turkish citizens.

The removal of the requirement of the prior ministerial approval has conferred Turkish Company status to all foreign investment based companies with the same rights and obligations of Turkey based companies.

A company can be established with 100 percent foreign capital.

Establishing a Limited Liability Company

The most common type of company in Turkey is the Private Limited Company - Limited Şirket - Ltd. Sti. - and can be incorporated with only 2 shareholders.

First the Articles of Association of the company should be prepared and notarized. After preparing the Articles of Association the necessary applications to the Ministry of Commerce and Industry, Chamber of Commerce, Tax Office, Municipality will follow and the company will be registered at the Trade Registry and announced in the Trade Gazette.

After the establishment procedures are completed and the company is established legally the share capital of the shareholders should be transferred to a Bank in Turkey.

The company can start to operate its business after approval and registration at the Trade Registry, a registration number is received which is unique for every established company.

All registrations are liable to charges annually declared by Ministry of Finance.

What kind of companies can foreigners establish?

The law does not impose any restrictions on foreign capital and enables foreign investors to invest in Turkey by either establishing a new company or branch or by acquiring the shares of an already operating Turkish company without being subject to any kind of pre-authorisation generally required for foreign investment.

Now, any form of company included in the Turkish Commercial Code is acceptable for foreign investment.

What must a foreigner do during the establishment process?

After the drafting and notarisation of the articles of incorporation we notify the relevant authorities and apply to the Chamber of Commerce Trade Registry for the company's registration.

Share Capital of a Turkish Company

The capital of the company should be minimum TL 5000 - ( about 2,500 Euro ) Capital amounts to be put in by shareholders can be of diverse amounts. Yet, the capital to be provided by shareholders should be at least TL 25 or multiples of this amount.

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