Company Formation in Turkey
Legal Guide for Foreign Investors
International investors have the right to register a company in Turkey under the same conditions as Turkish citizens. A single individual can incorporate an LLC, serving as both sole shareholder and director — with no advance capital payment required.
Licensed 2016
Company Registration in Turkey — Legal Framework
Company formation in Turkey is governed by the Turkish Commercial Code (Law No. 6102). Foreign nationals are treated equally to Turkish citizens in the incorporation process, with the same rights and obligations under the Direct Foreign Investment Law (Law No. 4875).
The two most common structures for foreign investors are the Limited Liability Company (LLC / LTD) and the Joint-Stock Company (JSC / A.Ş.). Both are capital companies — meaning the shareholders' liability is limited to the amount of capital they invest into the company.
An Antalya company lawyer can manage the entire registration process remotely through a power of attorney. Physical presence in Turkey is not required for incorporation — except for the corporate bank account opening, which requires the authorized signatory to appear in person due to KYC regulations. For the complete guide to types of companies, see: Which Type of Turkish Company to Register.
Foreign investors looking to open a company in Antalya or start a company anywhere in Turkey benefit from the same legal framework as Turkish citizens under the Direct Foreign Investment Law.
International investors have the right to open a company in Turkey under the same legal conditions as Turkish citizens. There are no additional capital requirements or restrictions based on nationality, except in certain sectors related to national security.
The minimum share capital for an LLC is 50,000 TL. This does not need to be paid upfront — it can be contributed within two years of the company's incorporation. For a JSC, the minimum is 250,000 TL.
The entire company registration process — including signing the articles of association and submitting documents to the Trade Registry — can be handled remotely through a notarized power of attorney. Only the bank account opening requires physical presence.
Registering or owning a company in Turkey does not require a work permit. A work permit is only required if a foreign national director or employee wishes to reside and work in Turkey beyond the 3-month visa-free period.
LLC vs. JSC — Which Type to Choose?
The choice depends on your business objectives, number of partners, and growth plans. Both structures offer limited liability protection under the Turkish Commercial Code.
Limited Liability Company (LLC / LTD)
The LLC is the most commonly chosen structure by foreign investors for its simplicity. A single person can incorporate an LLC in Turkey, serving as both sole shareholder and sole director. Minimum capital: 50,000 TL, payable within 2 years.
Shareholder identities are registered in the Trade Registry and are publicly accessible. Share transfers require a notarized deed and a new Trade Registry filing. The LLC is advantageous for small to medium operations where the investor plans to run the company personally and does not anticipate trading shares frequently.
An LLC requires less paperwork to incorporate than a JSC. It is not necessary to open a bank account and deposit capital before registration — unlike a JSC where 25% of the minimum capital must be deposited before incorporation.
Joint-Stock Company (JSC / A.Ş.)
The JSC is suitable for investors who plan to attract external investment, trade shares, or eventually pursue a public offering. Minimum capital: 250,000 TL. At least 25% must be deposited in a bank account before registration.
Shareholders are not publicly registered — share ownership is known only to the board of directors. This provides a degree of anonymity that the LLC does not offer. Shares can be transferred freely without notarial deed requirements, making the JSC advantageous for investor-heavy structures.
Profits from the sale of JSC shares are exempt from income tax if the shareholder has held them for at least 2 years — a significant advantage for investment-oriented structures. The JSC also allows the company to issue bonds and other financial instruments.
LLC vs. JSC — Key Differences
| Criteria | LLC (LTD) | JSC (A.Ş.) |
|---|---|---|
| Minimum Capital | 50,000 TL (payable within 2 years) | 250,000 TL (25% before registration) |
| Minimum Shareholders | 1 | 1 |
| Shareholder Publicity | Publicly registered in Trade Registry | Not publicly registered — known to board only |
| Share Transfer | Requires notarized deed + Trade Registry filing | Free transfer — no notarial deed required |
| Share Sale Tax | Subject to income tax | Exempt if held 2+ years |
| Incorporation Complexity | Lower — no pre-registration deposit | Higher — 25% deposit required before filing |
| Bond Issuance | Not available | Available |
| Best For | SMEs, sole operators, family businesses | Investor-heavy structures, IPO-oriented |
For a detailed breakdown of company types under Turkish law, please visit: Different Types of Turkish Companies
Company Formation Legal Services
Turkish corporate lawyer Baris Erkan Celebi and his Antalya company law firm provide full legal support to foreign investors registering a company in Turkey — from document preparation through post-incorporation compliance.
LLC & JSC Incorporation
End-to-end incorporation service covering articles of association drafting, Trade Registry filing, and signature circular. Handles both limited liability company and joint-stock company formation for foreign nationals and international entities.
LLC vs JSC Guide →Document Preparation & Attestation
Procurement and certification of all required documents — power of attorney, passport apostille, notarized translations, signature circulars. Coordinates with notaries, embassies, and consulates abroad for remote incorporations.
Document List →Trade Registry Procedures
Submission of incorporation documents to the relevant Trade Registry Directorate, publication in the Trade Registry Gazette, and issuance of the certificate of incorporation. All procedures handled on behalf of the investor via power of attorney.
Process Overview →Tax Registration & Compliance
Obtaining the company's tax identification number from the tax office, registering with the Social Security Institution (SGK) if employees are to be hired, and advising on initial VAT, corporate tax, and withholding tax obligations under Turkish law.
Tax Law →Corporate Bank Account
Guidance on selecting an appropriate Turkish bank for the corporate account and coordination of the in-person KYC appointment. The authorized signatory must appear personally — this step cannot be completed remotely under Turkish banking regulations.
Banking Law →Post-Incorporation Legal Support
Ongoing corporate governance advisory including shareholder agreement drafting, general assembly procedures, director liability management, and compliance with Turkish Commercial Code reporting obligations.
Corporate Law →How to Register a Company in Turkey
The company registration process in Turkey follows a defined sequence across multiple authorities. Once all required documents are in place and the power of attorney is executed, the process moves quickly — a standard LLC can be incorporated within 3 to 7 business days.
Before starting the process, the investor must inform the attorney on: the main field of business, the number of shareholders, the number of directors, the initial capital amount, and the type of company headquarters (leased office, shared space, or investor-owned property).
Required Documents →The investor executes a notarized power of attorney authorizing the attorney to act on their behalf. This can be done at a Turkish notary, Turkish embassy or consulate abroad, or via apostille certification. Once granted, the attorney can handle all registration steps remotely.
Notarized — ApostilledPassport copies with apostille and certified Turkish translation, tax identification numbers, address verification, and any sector-specific permits must be assembled. For a JSC, 25% of the minimum capital must be deposited in a bank account at this stage.
Trade Registry RequirementsThe attorney selects a unique company title, determines the field of activities, chooses an address as headquarters, and drafts the articles of association. The AoA covers share structure, directors, representative powers, and company charter details.
Turkish Commercial CodeThe attorney submits the signed articles of association and supporting documents to the Trade Registry Directorate. Upon approval, the company is officially incorporated and its details are published in the Trade Registry Gazette.
Trade Registry DirectorateAfter incorporation, the director must obtain the company's tax certificate from the tax office and register with the Social Security Institution if employees will be hired. These steps are handled by the attorney via the existing power of attorney.
Revenue Administration · SGKThe authorized signatory must appear in person at the chosen Turkish bank to complete KYC procedures and open the corporate account. This is the only step that cannot be delegated — physical presence is mandatory under Turkish banking regulations.
BDDK · KYC RequirementsWhat Foreign Investors Need to Know
Several aspects of Turkish company formation are frequently misunderstood by foreign investors. These points determine whether the incorporation proceeds smoothly or stalls at a critical step.
Turkish corporate lawyer Baris Erkan Celebi and his Antalya corporate law firm advise international clients on these rules before any incorporation process begins — addressing them early prevents delays and avoids unnecessary costs.
This is the most common source of delays in remote incorporations. Turkish banks require the authorized signatory to be physically present for KYC. The company can be incorporated remotely — but the bank account requires an in-person visit. Plan this step accordingly before starting the process.
Registering a company does not require a residence permit. Equally, registering a company does not grant a residence permit. Foreign investors who wish to reside in Turkey need a separate residence permit application — company ownership alone does not qualify.
The 50,000 TL minimum capital for an LLC can be contributed within two years of incorporation. This means the company can be registered and operational before the full capital is deposited. For a JSC, 25% must be deposited before registration — this is a common point of confusion.
Owning or directing a Turkish company does not automatically entitle a foreign national to work in Turkey. If the foreign director wishes to reside and work in Turkey beyond the 3-month visa-free period, a separate work permit application is required — and Turkish work permits are not straightforward to obtain.
Significantly lower than individual income tax rates of 15% to 40%. Foreign-owned companies may also qualify for state incentives available to foreign investors, which vary by sector and investment size.
Ready to start?
Discuss your company formation needs with Av. Baris Erkan Celebi
Antalya company lawyer · Bar No. 6134 · English-speaking · Remote incorporations available
Baris Erkan Celebi
Attorney at Law · Antalya Bar No. 6134Turkish corporate lawyer Baris Erkan Celebi exclusively represents foreign nationals and international companies. Consultations and all client communications are conducted in English at a professional level — without reliance on third-party interpreters.
In company formation matters, the practice handles LLC and JSC incorporation from document preparation through Trade Registry filing, tax registration, and post-incorporation corporate governance. The practice also advises on the Turkish Commercial Code compliance obligations that apply to foreign-owned companies operating in Turkey. As Turkey corporate law attorney, Baris Erkan Celebi advises foreign nationals on the full spectrum of corporate matters — from initial incorporation through ongoing compliance.
Governments from the United States, the United Kingdom, Germany, Canada, Norway, and Belgium frequently refer their citizens when legal representation is required in Turkey. The practice maintains membership in the TEN-Law European Network, enabling coordination with counsel in other jurisdictions for cross-border corporate matters.
- 2011American Robert College — Merit Scholarship Graduate
- 2014Jagiellonian University, Faculty of Law — Exchange Program
- 2015Istanbul University, Faculty of Law — LL.B.
- 2016Antalya Bar Association — Admitted, License No. 6134
- 2019Founded Antalya Law Firm — Internationally Oriented Practice
- 2020Bahçeşehir University — Master's Thesis Completed
- 2020Authored: Defect in Yacht-Building Contracts
Frequently Asked Questions
How long does it take to register a company in Turkey?
Once all required documents are in place and the power of attorney is executed, an LLC can typically be incorporated within 3 to 7 business days through the Trade Registry. The full process including tax registration and bank account opening takes approximately 2 to 4 weeks.
What is the minimum capital requirement for an LLC in Turkey?
The minimum capital for an LLC is 50,000 TL. This does not need to be paid upfront — it can be contributed within two years of incorporation. For a JSC, the minimum is 250,000 TL, of which 25% must be deposited before registration.
Can a single foreign national register a company in Turkey?
Yes. A single individual can incorporate an LLC in Turkey, serving as both sole shareholder and director. There is no minimum number of shareholders or directors required for an LLC under the Turkish Commercial Code.
Do I need a residence permit to register a company in Turkey?
No. A residence permit is not required. Foreign nationals can incorporate a company remotely through a power of attorney. However, registering a company does not grant a residence permit — these are entirely separate processes.
Can I open a corporate bank account remotely?
No. Turkish banks require the company's authorized signatory to be physically present to open a corporate account due to KYC regulations. This is the only step in the process that cannot be completed via power of attorney.
Do I need a work permit to run my Turkish company?
No work permit is required simply to register or own a company. A work permit is only required if a foreign director or employee wishes to reside and work in Turkey beyond the 3-month visa-free period.
What is the difference between an LLC and a JSC in Turkey?
An LLC involves less paperwork, lower minimum capital (50,000 TL vs 250,000 TL), and is simpler to run. A JSC offers shareholder anonymity, easier share transfers, and a capital gains tax exemption on shares held for 2+ years. The right choice depends on your ownership structure and growth plans. See: LLC vs JSC Guide →
Are foreign investors treated the same as Turkish citizens?
Yes. International investors have the right to start a company in Turkey under the same legal conditions as Turkish citizens under the Direct Foreign Investment Law (Law No. 4875), except in certain sectors related to national security.