Understanding the complete cost structure of establishing a company in Turkey is essential for budgeting and decision-making. This guide covers every cost category, from government registration fees and minimum capital requirements to notary charges, professional service fees, and ongoing compliance expenses. Whether you are forming an LLC (Limited Liability Company) or a JSC (Joint Stock Company), this page provides a transparent, itemized overview of what to expect financially.
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The total cost of forming a company in Turkey varies depending on the entity type, the number of shareholders, capital amount, and whether the investor uses professional formation services. Below is a summary comparison of the major cost categories for an LLC and a JSC. All figures reflect approximate ranges as of 2026 and are quoted in Turkish Lira (TRY), with approximate USD equivalents for reference.
| Cost Category | LLC (Ltd. Sti.) | JSC (A.S.) |
|---|---|---|
| Minimum Capital Requirement | 50,000 TRY (~USD 1,400) | 250,000 TRY (~USD 6,900) |
| Trade Registry and Chamber Fees | 4,000 - 7,000 TRY | 6,000 - 10,000 TRY |
| Competition Authority Fee (0.04% of capital) | 20 TRY (at minimum capital) | 100 TRY (at minimum capital) |
| Notary Fees | 3,000 - 6,000 TRY | 5,000 - 10,000 TRY |
| Sworn Translation and Apostille | 2,000 - 5,000 TRY per document | 2,000 - 5,000 TRY per document |
| Trade Registry Gazette Publication | 2,000 - 4,000 TRY | 3,000 - 5,000 TRY |
| Professional Service Fees (CPA/Legal) | 15,000 - 40,000 TRY | 25,000 - 60,000 TRY |
| Estimated Total (Excluding Capital) | 26,000 - 62,000 TRY | 41,000 - 90,000 TRY |
The figures above represent typical ranges. Actual costs may vary based on the number of shareholders, complexity of articles of association, language of documents requiring translation, and the city of registration. Istanbul-based registrations may carry slightly higher notary and office rental costs compared to other provinces.
Government fees are mandatory charges collected by public institutions during the company registration process. These fees are set by regulation and apply uniformly to all investors, regardless of nationality.
The Trade Registry Office charges registration fees for recording the new entity. As of 2026, trade registry fees for an LLC formation typically range from 3,000 to 5,000 TRY (~USD 85 to 140). JSC registrations generally carry higher fees due to additional filing requirements. These fees cover the formal recording of the company in the commercial register and issuance of the trade registry number.
Every newly formed company must register with the local Chamber of Commerce or Chamber of Industry. Annual membership fees vary by chamber but typically fall in the range of 1,000 to 3,000 TRY (~USD 28 to 85). The chamber registration is completed simultaneously with the trade registry filing and provides the company with its official chamber membership certificate.
A mandatory contribution of 0.04% of the declared capital amount is payable to the Turkish Competition Authority (Rekabet Kurumu) [2]. For an LLC with the minimum capital of 50,000 TRY, this amounts to 20 TRY. For a JSC at 250,000 TRY capital, the fee is 100 TRY. This fee scales proportionally with higher capital amounts.
Company formation must be announced in the Turkish Trade Registry Gazette (Turkiye Ticaret Sicili Gazetesi). As of 2026, publication fees typically range from 2,000 to 5,000 TRY (~USD 55 to 140), depending on the length of the articles of association and company details. This publication serves as the official public notice of the company's establishment.
Tax office registration itself does not incur a separate fee. However, within 15 days of registration, a tax inspector will conduct an address verification visit (Yoklama). The registered office must demonstrate genuine business activity, with visible company signage and a representative available during business hours. Failure to pass this verification may result in delays or complications with your tax registration.
Turkish Commercial Code (Law No. 6102) [2] sets mandatory minimum capital thresholds for each entity type. These requirements were last updated in 2024 and remain in effect as of 2026.
As of 2026, the minimum capital for an LLC is 50,000 TRY (~USD 1,400). The full amount does not need to be deposited before registration. Shareholders have up to 24 months after the date of registration to pay in the committed capital. No bank blockage certificate is required at the time of formation.
As of 2026, the minimum capital for a JSC is 250,000 TRY (~USD 6,900). At least 25% of the subscribed capital (minimum 62,500 TRY) must be deposited in a Turkish bank account before registration. A bank blockage certificate confirming the deposit is required as part of the trade registry application. The remaining 75% is payable within 24 months.
It is important to understand that the minimum capital is not a government fee or a lost payment. The deposited capital belongs to the company and can be used for operational expenses, equipment purchases, rent, and other legitimate business costs once the company is registered and operational. Think of it as the initial working capital for your Turkish entity.
Notarization and sworn translation are among the more significant cost items in the formation process, particularly for foreign investors whose documents originate outside Turkey.
Notary services are required for certifying the articles of association, signature declarations, and various company documents. As of 2026, notary fees for a standard LLC formation range from 3,000 to 6,000 TRY (~USD 85 to 170). JSC formations typically incur higher notary costs, ranging from 5,000 to 10,000 TRY (~USD 140 to 280), due to additional documentation requirements. Fees vary by notary office and the complexity of the transaction.
All foreign-language documents submitted to Turkish authorities must be accompanied by sworn translations prepared by a certified translator (yeminli tercuman). Common documents requiring translation include passports, powers of attorney, corporate resolutions, and apostilled certificates. As of 2026, sworn translation costs typically range from 1,500 to 4,000 TRY (~USD 42 to 110) per document, depending on the language pair and document length.
Documents executed outside Turkey must carry an apostille stamp (for Hague Convention countries) or consular legalization. The apostille cost varies by country of origin, typically ranging from USD 20 to 100 per document. Power of attorney documents, in particular, must be notarized and apostilled in the investor's home country before being submitted to Turkish authorities.
Foreign investors who form their company remotely must issue a notarized and apostilled power of attorney granting an authorized representative the right to act on their behalf. The cost of preparing, notarizing, and apostilling a power of attorney abroad typically ranges from USD 100 to 500, depending on the country. This document must then be sworn-translated into Turkish upon arrival.
Professional service fees cover the advisory, preparation, filing, and coordination work performed by CPA firms, lawyers, and corporate service providers. These fees represent the cost of expertise that helps investors navigate legal requirements efficiently and avoid costly errors.
| Service Component | Typical Range (TRY) | Approx. USD |
|---|---|---|
| Company formation (end-to-end LLC) | 15,000 - 30,000 TRY | ~USD 420 - 830 |
| Company formation (end-to-end JSC) | 25,000 - 50,000 TRY | ~USD 690 - 1,390 |
| Articles of association drafting | 5,000 - 10,000 TRY | ~USD 140 - 280 |
| MERSIS application and trade registry filing | Included in formation fee | - |
| Tax office registration and verification support | Included in formation fee | - |
| Bank account opening coordination | Included or 2,000 - 5,000 TRY | ~USD 55 - 140 |
| Work permit application support | 10,000 - 20,000 TRY | ~USD 280 - 555 |
Celikel CPA provides detailed, itemized fee proposals before engagement. Our formation packages are designed to cover the entire process from document preparation through post-registration setup, with no surprise charges. For a personalized cost estimate, contact our team with your specific requirements.
Company formation does not end with the trade registry. Several post-registration steps carry their own costs, and these should be factored into your initial budget.
Turkish companies are required to use qualified electronic signatures for tax filings, e-Invoice, and e-Ledger submissions. As of 2026, an e-signature certificate costs approximately 1,500 to 3,000 TRY (~USD 42 to 85) per user, typically valid for 1 to 3 years. At least one company representative must hold a valid e-signature to fulfil electronic filing obligations through the Revenue Administration (GIB) [3] portal.
Companies meeting certain revenue thresholds or operating in designated sectors must use the e-Invoice (e-Fatura) and e-Ledger (e-Defter) systems. Setup costs, including software licensing and integration, typically range from 3,000 to 8,000 TRY (~USD 85 to 220). Even companies below the mandatory threshold often adopt these systems voluntarily given the trend toward full digitalization.
Opening a corporate bank account is technically free at most Turkish banks, but foreign-owned companies should expect enhanced due diligence procedures. Some banks charge account maintenance fees ranging from 500 to 2,000 TRY (~USD 14 to 55) per year. International wire transfer fees, currency conversion spreads, and SWIFT charges add to the ongoing banking cost.
Foreign investors who do not require a full physical office may use a serviced office as the company's registered address. As of 2026, virtual office services in Istanbul typically range from 2,000 to 6,000 TRY (~USD 55 to 170) per month. The registered address must pass the tax office verification visit (Yoklama), so a basic mailbox-only service is not sufficient.
Beyond the one-time formation expenses, every Turkish company incurs recurring compliance costs. These ongoing obligations are not optional and must be budgeted for throughout the life of the company.
| Ongoing Cost Item | Frequency | Typical Range (TRY) |
|---|---|---|
| Monthly accounting and bookkeeping | Monthly | 5,000 - 15,000 TRY/month |
| Tax return preparation and filing | Monthly / Quarterly / Annual | Included in accounting or 2,000 - 5,000 TRY/filing |
| Payroll processing (per employee) | Monthly | 500 - 1,500 TRY/employee/month |
| SGK (Social Security) employer contributions | Monthly | ~22.5% of gross salary per employee |
| Chamber of Commerce annual dues | Annual | 1,000 - 3,000 TRY/year |
| Corporate tax (provisional payments) | Quarterly | 25% of net taxable profit [4] |
| VAT filing | Monthly | 20% standard rate (on sales) |
| Independent audit (if applicable) | Annual | 30,000 - 100,000+ TRY/year |
Celikel CPA offers integrated monthly packages covering accounting, tax compliance, payroll, and bookkeeping services. Bundled arrangements are designed to reduce the administrative burden on foreign-owned companies and provide predictable monthly costs.
Several cost items are commonly overlooked during the budgeting phase. While not always large individually, these expenses can add up and affect cash flow if not anticipated.
Capital injections and ongoing fund transfers between your home country and Turkey involve currency conversion spreads, SWIFT fees, and intermediary bank charges. The spread between buying and selling rates on TRY conversions can range from 1% to 3% depending on the bank and amount. These costs apply to every international transfer, including capital deposits, expense reimbursements, and profit repatriation.
Turkey levies a Stamp Tax (Damga Vergisi) on a wide range of contracts and official documents. As of 2026, the standard rate is 0.948% of the contract value for most commercial agreements, with an annual cap. Lease agreements, service contracts, employment contracts, and loan agreements are all subject to Stamp Tax. Many foreign investors are unaware of this obligation until their first tax audit.
Foreign shareholders who plan to work actively in their Turkish company must obtain a work permit from the Ministry of Labour and Social Security [6]. As of 2026, the government application fee is approximately 2,000 to 3,000 TRY, plus professional service fees for application preparation (10,000 to 20,000 TRY). The work permit process is separate from company formation and carries its own approval timeline of 30 to 60 days.
The tax office address verification visit requires that the registered office has visible company signage, utility connections in the company name, a lease agreement, and a representative present during business hours. Preparing for this visit may involve costs for signage production, temporary office staffing, and lease deposit payments that are not immediately obvious during the formation budget planning phase.
The choice between an LLC and a JSC has direct financial implications beyond the minimum capital difference. The table below provides a side-by-side breakdown of cost factors to help you evaluate which entity type aligns with your budget and business objectives. For a broader structural comparison, see the company formation in Turkey guide.
| Cost Factor | LLC (Ltd. Sti.) | JSC (A.S.) |
|---|---|---|
| Minimum capital | 50,000 TRY (~USD 1,400) | 250,000 TRY (~USD 6,900) |
| Capital deposit before registration | Not required (24-month payment period) | 25% must be deposited upfront (62,500+ TRY) |
| Notary costs | Lower (simpler documentation) | Higher (board resolutions, additional certifications) |
| Trade registry fees | Standard | Higher due to additional filings |
| Formation timeline | 5 to 7 business days | 10 to 15 business days |
| Governance overhead | Minimal (no board of directors required) | Board of directors, general assembly formalities |
| Independent audit requirement | Only if thresholds exceeded | Mandatory for certain JSC categories |
| Annual maintenance cost | Lower overall | Higher due to governance and audit requirements |
| Suitability for most foreign investors | Preferred for standard operations | Required for capital markets, public offerings |
For most foreign investors establishing a standard commercial operation in Turkey, the LLC structure provides a more cost-effective entry point. The JSC is typically chosen when the business plan involves seeking external equity investment, listing on a stock exchange, or operating in sectors that legally require the JSC structure. For detailed guidance on LLC formation, see our LLC setup guide and LLC for foreign investors page.
Celikel CPA provides end-to-end company formation services for foreign investors in Turkey. Our approach is built on transparent pricing, professional accountability, and long-term client relationships.
Celikel CPA & Accounting Firm, led by CPA Yigit Celikel, provides end-to-end company formation support for international clients. Our scope extends beyond registration to include tax planning, ongoing accounting, payroll management, and regulatory compliance, helping your Turkish operation maintain a stable financial and legal foundation.
The cost figures, legal requirements, and tax obligations described on this page are based on the following official Turkish legislation and institutional resources: