How to Establish a Company (Business) in Turkey? How to Make Investment?

The demand of foreign investors to establish a company in Turkey has increased in recent years, and in this context, the issue of company formation in Turkey is among the topics frequently researched by foreigners recently. It is possible for foreigners to establish a company in Turkey by meeting the conditions specified in the law and submitting an application with the necessary documents.

The advantages and incentives that Turkey offers to foreign investors and company owners increase the interest of foreigners in establishing companies in Turkey. What types of companies can be established and their conditions are important for foreign investors. Therefore, it is important to get legal support regarding the Turkish Commercial Code and, if possible, work with a lawyer.

To date, our team has provided legal support to many investors from the MENA, Asia and European Union in establishing a business in Turkey, from beginning to end.

TYPES OF COMPANIES IN TURKEY

1.Joint stock company

2.Limited company

3.Collective company

4.Limited partnership

5.Cooperative

Joint stock company and limited company are the most common company types in Turkey. Approximately all
82% of the companies are limited companies, 13% are joint stock companies, and 4% are cooperatives. Collective and limited partnership, the total of companies is around 1%.

Key Factors to Know About Foreigners Establishing a Company in Turkey

1- Can foreigners open a company without coming to Turkey?

Yes, foreigners can establish limited and joint stock companies without coming to Turkey by giving a power of attorney to their lawyers. There is no requirement to reside in Turkey for these types of companies.

2-Approximately how many days does it take for foreigners to establish a company in Turkey?

It takes approximately 7 days for foreigners to establish a company in Turkey. For foreigners to establish a company in Turkey, reasons such as preparation of the articles of association, signature verification procedures, trade registry office procedures, and the workload of the competent authority in terms of registration may cause the period to be extended.

3-Opening bank accounts for company establishment in Turkey

Opening a company is one of the procedures required for foreigners to establish a company in Turkey. An application will be made to the bank with the necessary information and documents.

4- Preparation of the Company’s Articles of Association

The company’s articles of association are the most important factor in establishing a company and must be prepared within the scope of the Turkish Commercial Code. Therefore, it is recommended to work with an expert lawyer working in this field.

5- Work Permit

Partners who do not have a managerial capacity in limited companies are exempt from a work permit. However, managers who are company partners must obtain a work permit. Board members of joint stock companies who do not reside in Turkey are also exempt from a work permit.

Cost of Establishing Company in Turkey (Company Formation)

Fees And Expenses	USD
Attorney fee for registration	1000
Opening a bank account	400
Tax office registration	200
Accounting fee for per month	200
Notary expenses for all documents (including Articles of Association)	750