How to Open a Company in Turkey as a Foreigner (2025 Guide)

How to Open a Company in Turkey as a Foreigner .  Turkey, bridging Europe and Asia, offers remarkable opportunities for international entrepreneurs looking to expand their businesses. With a favorable investment climate, strategic geographic location, and a dynamic economy, Turkey attracts thousands of foreign investors each year. But how can a foreigner open a company in Turkey? What are the legal procedures, requirements, and costs? In this comprehensive guide, you will find answers to all your questions about company formation in Turkey. 

 

Why Start a Business in Turkey?

Foreign investors are increasingly interested in Turkey due to its:

• Growing and diversified economy

• Customs union with the EU

• Skilled labor force

• Advanced infrastructure and logistics

• Government incentives for foreign direct investment

Whether you want to start a tech startup in Istanbul or a trading company in Ankara, Turkey provides a business-friendly ecosystem supported by modern legislation.

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Can I Open a Company in Turkey Without Visiting?

Yes, you can open a company in Turkey without physically visiting, thanks to power of attorney (PoA) mechanisms and remote services. However, this process must be handled carefully, with proper notarized and apostilled documents and a legal representative in Turkey.

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Is It Legal for Foreigners to Open a Company in Turkey?

Absolutely. According to Turkish Commercial Law and Foreign Direct Investment Law, foreigners have the same rights as local investors when it comes to establishing and operating a company in Turkey. You do not need Turkish citizenship or permanent residency to start a business.

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Rights of Foreigners Starting a Business in Turkey

Foreign business owners enjoy equal rights and protections under Turkish law. These include:

• Full ownership of shares

• Profit repatriation

• Participation in tenders and public procurements

• Access to legal protections and dispute resolution mechanisms

However, depending on your business activity, additional licenses or sector-specific regulations may apply.

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Do Foreigners Need a Work Permit to Start a Business in Turkey?

Work and Residence Permit Requirements

Foreign investors are not required to obtain a work permit to own a company. However, if you plan to actively work (e.g., as a managing director) within your company, a work permit is mandatory. You may also need a Turkish residence permit if you intend to stay in Turkey long-term for business purposes.

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Types of Companies Foreigners Can Establish in Turkey

1. Sole Proprietorship (Şahıs Şirketi)

Ideal for freelancers or small-scale entrepreneurs. Simple to establish and requires less capital, but personal assets are not protected.

2. Limited Liability Company (Limited Şirketi)

The most preferred structure among foreigners. Requires a minimum capital of 10,000 TRY. Liability is limited to the company’s assets.

3. Joint-Stock Company (Anonim Şirketi)

Suitable for larger investments and projects. Requires a minimum capital of 50,000 TRY and allows issuing shares and public offerings.

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Which Company Structure Should You Choose?

Choosing between a sole proprietorship, LLC, or JSC depends on your:

• Business scale

• Number of partners

• Investment amount

• Desired tax and legal structure

• Future growth plans

Limited Liability Company (LLC) is the most common choice for foreign investors due to its flexible structure and low capital requirement.

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Step-by-Step Company Formation Process in Turkey

Step 1: Decide on Company Type and Name

Select the appropriate legal structure and a unique company name (must be checked and approved by MERSIS – Central Registration System).

Step 2: Obtain a Tax Identification Number

Even if you’re not residing in Turkey, you’ll need a Turkish Tax ID number from the tax office for company registration.

Step 3: Draft the Articles of Association

This legal document outlines the company’s structure, shareholders, capital, and management model.

Step 4: Open a Temporary Bank Account

Deposit the required capital (if applicable) and obtain a bank deposit slip for the Trade Registry.

Step 5: Register with the Trade Registry

Submit all required documents and register your business with the Chamber of Commerce in your desired city (e.g., Istanbul, Ankara).

Step 6: Publish in the Trade Registry Gazette

Your company formation is announced in the official Turkish Trade Registry Gazette.

Step 7: Final Tax Office Registration

Your company receives its final tax certificate, enabling it to legally issue invoices and operate.

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Company Registration Process in Turkey: Documents Required

What Documents Are Required to Register a Company in Turkey?

• Passport (translated and notarized)

• Tax Identification Number (for foreign shareholder)

• Power of Attorney (if applying remotely)

• Proof of address

• Articles of Association

• Lease agreement for company address

• Bank receipt of capital deposit (if required)

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Post-Registration Steps

Once your company is established:

• Register with the Social Security Institution (SGK)

• Obtain mandatory bookkeeping services

• Set up e-invoice and e-ledger systems

• Hire a certified public accountant (CPA) to handle monthly filings

• Apply for sector-specific licenses or permits

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Can a Company Be Registered Remotely in Turkey?

Yes, with a notarized and apostilled Power of Attorney, you can authorize a Turkish lawyer or consultant to handle the entire registration process on your behalf. This is a common route for investors abroad.

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Can I Open a Company in Turkey Without Residency?

Yes, residency is not a legal requirement to establish a company in turkey . However, you will need a residence permit if you wish to stay in Turkey for business operations.

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Do I Need a Turkish Partner to Start a Company in Turkey?

No. Foreigners can own 100% of the shares in a Turkish company. There is no legal requirement to have a Turkish partner or shareholder.

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Where to Start?

The easiest way to begin is by consulting with a business registration consultancy or an international law firm in Turkey that specializes in:

• Company incorporation

• Immigration and residence permit applications

• Regulatory compliance

• Tax planning and accounting

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How Much Does It Cost to Open a Company in Turkey?

The cost depends on the company type and city. Typical costs include:

• Notarization and translation fees: $300–$600

• Chamber of Commerce registration: $200–$400

• Legal address rent: $400–$1000 annually

• CPA services: $100/month

• Capital deposit (can be symbolic or real, depending on company type)

Expect to spend around $1,000 to $2,500 in total, excluding office rent or employee salaries.

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How Long Does It Take to Register a Company in Turkey?

The full process usually takes 5–10 working days once all documents are ready. Remote applications may take a bit longer due to document shipping and apostille procedures.

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Benefits of Setting Up a Business in Turkey

• No minimum capital required for certain types

• Easy access to EU, MENA, and Central Asia markets

• Competitive labor costs

• Tax incentives for foreign direct investment

• Government support for exporters and R&D firms

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How Does Workon Simplify the Business Setup Process in Turkey?

Workon is a specialized platform that provides end-to-end company formation services for foreigners looking to start a business in Turkey. Services include:

• Business consulting

• Legal entity formation

• Virtual office solutions

• Residence permit & work visa processing

• Tax & accounting support

• Ongoing compliance and reporting

By using Workon, you eliminate bureaucratic headaches and streamline the entire registration process from abroad.

Can I open a company in Turkey as a foreigner?

Yes. Foreigners can establish and own businesses in Turkey with full shareholder rights.

How much capital do I need to start?

For LLCs, the minimum capital is 10,000 TRY. However, only 25% needs to be deposited at the time of registration.

 Can I run the company without moving to Turkey?

Yes. You can run the company remotely or assign a local director.

Do I need a lawyer?

While not mandatory, hiring a Turkish lawyer or business consultant is highly recommended to handle legal documentation and compliance.

Conclusion: Starting Your Business Journey in Turkey

Turkey offers a wealth of opportunities for foreign investors. Whether you aim to open a tech startup in Istanbul, a real estate company in Antalya, or an export business in Izmir, the Turkish legal system is open and accessible for international entrepreneurs.

You do not need to be a resident, you do not need a Turkish partner, and you do not need to be in Turkey to start a business. With the right guidance, you can register a company remotely, get all your documents sorted, and begin operations within a few days.