Turkey LLC Formation for Individual Foreign Investors

Forming an LLC in Turkey as a foreign individual is one of the most straightforward paths to establishing a business presence in the country. This guide covers every step of the process, from passport preparation and power of attorney options to tax registration, bank account opening, and ongoing accounting services. Unlike formation with a corporate shareholder, no board resolution or certificate of incorporation is required, making the process faster and simpler.

Step 1: Initial Payment and Starting the Formation Process

To begin the LLC formation process, the consulting and incorporation service fee must be paid to Celikel CPA. For details on our service fees, please contact us to request a quote.

Following the advance payment, a clear PDF scan of the shareholder’s passport must be sent to us for a preliminary review. For formations with multiple individual shareholders, passport copies of all shareholders are required.

Preliminary Document Check

We review the passport to verify the validity period, the legibility of all personal information, and the availability of the signature page. Once the preliminary check is complete, we confirm approval and provide instructions for the next step. This review typically takes one business day.

Step 2: Registered Address and Virtual Office

A valid Turkish address is required for company formation. Two options are available:

Option A: Your Own Address

If you already have a physical address in Turkey (a rented office or commercial space), you can provide your existing lease agreement to us for the registration process.

Option B: Virtual Office Service

If you do not have an address in Turkey, you can use our virtual office rental service. The lease agreement will be prepared by us, and must be signed and returned via e-mail before the formation process begins. For pricing details, please contact us.

Address Verification by Tax Office

After company formation, the tax office assigns an officer for an address verification visit (Yoklama). For clients using our virtual office service, we are authorized to sign the address verification report on their behalf under the power of attorney. If the company is established at a different address, please contact us for a separate quote.

Step 3: Power of Attorney and Document Preparation

Unlike corporate shareholder formations (which require apostilled company documents and a board resolution), individual foreign shareholders have a simpler document preparation process. Two options are available for executing the formation power of attorney:

Option A: Turkish Consulate (Recommended)

The shareholder visits the Turkish Consulate in their country of residence to:

• Have their passport translated into Turkish by a sworn translator at the consulate and notarized

• Sign the company formation power of attorney, which is then notarized by the consulate

The original documents must then be sent to us physically by courier, along with two biometric photographs of the shareholder.

Option B: Local Notary + Apostille

If visiting the Turkish Consulate is not practical, the shareholder can:

• Have the power of attorney notarized by a local notary

• Obtain an apostille stamp on the notarized power of attorney

• Have the passport and power of attorney translated into Turkish by a sworn translator, and apostilled

For countries not party to the Hague Apostille Convention, consular legalization at the Turkish Embassy is required instead of an apostille.

Key Difference From Corporate Shareholder Formation

Individual shareholders do not need to provide a corporate certificate of incorporation, parent-company trade registry documents or a board resolution. This generally shortens the foreign-document chain, although passport, power-of-attorney and legalization requirements still depend on the country and filing route. For formations with a corporate foreign shareholder, see our separate guide.

Step 4: Obtaining a Tax Identification Number

Once the authenticated documents arrive in Turkey, we obtain a foreign tax identification number (Vergi Kimlik Numarasi) from the relevant tax office on behalf of the shareholder.

When the Shareholder Is Also the Representative

In most individual foreigner formations, the shareholder also serves as the company’s legal representative (Mudur). In this case, only a single tax identification number is needed. If the shareholder appoints a different person as the representative, a separate tax ID must be obtained for that person as well.

Step 5: LLC Incorporation in Turkey

Once all documents are in order, the LLC incorporation process is initiated. The incorporation takes an average of 7 to 10 business days.

During the preparation phase, we request the following information from the shareholder:

• Business purpose and scope: A detailed description of the company’s planned activities and scope of operations, used to determine the NACE codes and define the company’s field of activity in the Articles of Association.

• Special clauses: Any specific provisions you wish to include in the Articles of Association (profit distribution arrangements, meeting procedures, or other shareholder-specific rules).

After Incorporation: Signature Circular and Accounting Power of Attorney

After the LLC is registered, if the shareholder/representative is not planning to travel to Turkey immediately, the following must be completed at the Turkish Consulate:

• A signature circular (Imza Sirküleri) must be drawn up, using the Trade Registry Gazette copy we provide.

• A power of attorney for accounting services must be prepared, based on the template we provide.

Both documents must be sent to us physically by courier.

Step 6: Corporate Bank Account Opening

The bank account opening process can be initiated remotely using the accounting services power of attorney. We are available to accompany the shareholder (or their representative) in person during their visit to the bank branch.

Internet Banking Activation

Most Turkish banks require an in-person visit by the company representative for internet banking activation. This can typically be completed on the same day. Since SMS verification is required, the representative’s mobile phone number must be enabled for international banking transactions and incoming SMS messages. We strongly recommend confirming this with your mobile operator before traveling to Turkey.

Compliance and Approval

Banks make independent decisions regarding account approvals based on shareholder compliance checks. If the shareholder’s history complies with banking regulations, the account opening process is generally successful. However, no bank will approve an account opening if there is a blacklist entry or compliance issue related to the shareholder.

For detailed guidance on the banking process, see our corporate bank account guide.

Step 7: Post-Incorporation Legal Filings and Tax Registrations

Following registration, we map each post-incorporation action to its own legal deadline under the accounting services power of attorney. The applicable steps can include:

Tax Type Registrations

Registration of applicable tax types (corporate income tax, VAT, withholding tax, stamp tax) at the company’s designated tax office.

E-Notification Activation

Application and activation of the e-notification (e-Tebligat) system, the mandatory electronic channel for receiving official correspondence from tax authorities.

Ultimate Beneficial Owner Declaration

Filing or updating ultimate beneficial owner information (Gercek Faydalanici Bildirimi) with the Revenue Administration. For a newly established taxpayer or a later change, the current general rule is notification within one month; corporate taxpayers also report the information through the relevant annual and provisional corporate tax returns.

E-Ledger Setup

Assessment of whether and when the company must enter e-Ledger (e-Defter), followed by application and configuration where applicable. Foreign ownership or incorporation by itself does not place every new company in e-Ledger immediately.

Once these registrations are complete, your company is ready to commence commercial operations.

Step 8: Monthly Accounting and Bookkeeping Services

Upon completion of the incorporation process, our monthly bookkeeping and accounting services agreement will be sent to you. The agreement can be signed in one of the following ways:

During Turkey Visit

The agreement can be signed simultaneously with the bank account opening and internet banking activation procedures during your visit to Turkey. This approach combines multiple steps into a single trip.

Remote Signing

If you are not planning to travel to Turkey, the agreement can be sent and signed online via e-mail. This allows you to begin receiving accounting services without an in-person visit.

For details on our monthly accounting and bookkeeping services, please visit our bookkeeping services page. For a quote, please contact us.

Process Summary: Timeline and Document Flow

Individual vs. Corporate Shareholder: Timeline Comparison

An individual-shareholder file is often simpler than corporate shareholder LLC formation because it does not require the foreign parent company’s registry, authority and corporate-resolution documents. The time saved depends on the issuing country and document chain; there is no reliable universal two-to-three-week difference or mandatory second apostille round.

After Choosing the LLC Route

The next decisions are the MERSIS registration workflow, an accurate NACE activity code and—where the shareholder will actively work in Turkey—the company owner work permit route.