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Company Formation in Turkey for US Citizens

A US citizen can be the only shareholder of a Turkish company and can complete most of the formation from the United States. The part that decides your timeline is paperwork signed in the US: which state office apostilles it, how it is translated, and why the Turkish consulate is often not the route for a company power of attorney. This page sets out those steps from official sources, together with the Turkish tax number, bank checks, the US–Turkey tax treaty and the residence rules.

ServicesUpdated: Nov 1, 2026
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This page is for US citizens who want to own a company in Turkey, either personally or through a US LLC or corporation. The Turkish rules for foreign shareholders are the same for every nationality. What is specific to you is the US side of the paperwork, the US–Turkey tax treaty and the questions you need to put to your US adviser before you sign anything. For the general process and costs, start with our guide to incorporating a company in Turkey.

What a US citizen can own in Turkey

You do not need a Turkish partner. The Istanbul Trade Registry, which applies the Turkish Commercial Code (TTK), states that a limited company can have a single shareholder, that it cannot have more than 50, and that shareholders can be individuals or legal entities (TTK Arts. 573/1 and 574/1). Its document list has a separate item for foreign individual shareholders, so a US citizen can hold all the shares alone.

The two common forms are the limited company (LLC, limited şirket) and the joint stock company (JSC, anonim şirket):

  • LLC: minimum capital is TRY 50,000 (TTK Art. 580). The registry states that cash capital can be paid within 24 months after registration (TTK Art. 585).
  • JSC: minimum capital is TRY 250,000 (TTK Art. 332). At least one quarter of the cash commitment is paid before registration and the rest within 24 months.

Turkey’s Foreign Direct Investment Law No. 4875 works on notification rather than prior approval, as the Investment Office of the Presidency explains. Some regulated activities have their own licences, so tell us the planned activity before choosing the company type. Our LLC vs JSC comparison covers the choice in more detail.

Getting US documents accepted in Turkey

Both countries are in the Apostille Convention

The HCCH status table lists the Apostille Convention in force for the United States since 15 October 1981 and for Türkiye since 29 September 1985. In practice this means a US public document, or a document signed before a US notary, can be used in Turkey with an apostille instead of consular legalisation.

The Turkish Ministry of Foreign Affairs states that apostilled documents are not certified again by the Ministry and can be submitted directly to the authorities of Convention countries. The Turkish Consulate General in New York says the same for its region: documents with an apostille do not need the consulate’s legalisation.

Which US office issues the apostille

The US is a federal system, so there is no single apostille office:

  • State documents and notarised papers: the HCCH entry for the United States says public documents issued by US states, the District of Columbia and other US jurisdictions are apostilled by the designated authority of that jurisdiction, generally the state Secretary of State’s office.
  • Georgia: the same entry records that the Georgia Superior Court Clerks’ Cooperative Authority is the only body issuing apostilles in that state.
  • Federal documents: the US Department of State’s Office of Authentications apostilles documents issued by federal agencies.

The apostille must come from the state where the notary or issuing office is located. A power of attorney notarised in Texas cannot be apostilled in New York.

Translation into Turkish

Turkish authorities work in Turkish. The New York consulate’s 2026 note says a power of attorney in English must be presented with a Turkish translation. If the translation is made in the US, the translation also needs an apostille. If it is made in Türkiye by a sworn translator (yeminli tercüman) and notarised by a Turkish notary, that is accepted together with the apostilled original. We usually recommend the second option because the translation is then made against the original that will be filed.

Power of attorney: the route that works for a company

Many US founders form the company through a power of attorney (PoA) so they do not need to fly in. There are two possible routes, and for company formation one of them is often closed.

Route 1: US notary plus apostille. The New York consulate’s 2026 guidance for its four states (New York, New Jersey, Delaware and Pennsylvania) lists these steps:

  1. Draft the PoA in English in line with Turkish requirements.
  2. Attach a passport-size photo at the top left and a copy of the first page of your passport.
  3. Sign before a notary public, who notarises the signature, the photo and the passport copy.
  4. Have the notary authenticated by the County Clerk.
  5. Obtain the apostille from the state’s Department of State.

Other states have their own steps before the apostille, so check the procedure of the state where you sign.

Route 2: a Turkish consulate. Turkish consulates can draw up notarial acts, but the scope for foreigners varies. The New York consulate states that foreigners can grant a PoA there only for property purchase or sale and for attorney or divorce matters, and that non-Turkish legal entities cannot obtain a PoA there. The Ministry’s consular FAQ also says a Turkish consulate cannot draw up a PoA on behalf of a company formed under foreign law. If you live in another consulate’s area, read that consulate’s own note before booking.

What the PoA lets us do at the registry

The Istanbul Trade Registry states that when the articles of association are signed by proxy and the original or a notarised copy of the PoA is submitted, the shareholders do not need to attend. Two further points matter for US founders:

  • If you will also be a manager, a PoA bearing your wet signature can replace a separate signature declaration (the registry cites Article 13/A of the communiqué on signing articles at trade registries).
  • A manager who is not a shareholder must attend the registry appointment in person to give the signature declaration, unless their digital signature declaration is already in MERSIS.

The formation itself starts with an application in MERSIS, the Ministry of Trade’s central registry system, which issues a request number used to book the registry appointment. Agree the exact wording of the PoA with us before you go to the notary. A PoA that is too narrow can mean signing, apostilling and couriering a new one. Our power of attorney guide explains what the document should cover.

If the shareholder is a US LLC or corporation

Some founders prefer to hold the Turkish company through an existing US entity. The registry’s rules for a foreign legal-entity shareholder are stricter:

  • It must file a document showing its current registry records, certified under the Apostille Convention (or by the Turkish consulate in its home country), with a notarised Turkish translation (Trade Registry Regulation Art. 32/2, as cited by the Istanbul registry). For a US entity, this is a document issued in the state where it is formed, apostilled by that state’s designated authority.
  • If the entity is appointed as a manager, the decision of its authorised body naming the individual who will act for it needs the same certification and translation.
  • The articles of association must show the foreign entity’s Turkish tax identification number.

Because a Turkish consulate cannot issue a PoA on behalf of a foreign company, the US entity signs its PoA before a US notary and obtains the apostille. Our guide to forming an LLC with a corporate shareholder covers the board resolution and signatory documents.

Turkish tax number and the founder file

Every shareholder and manager is identified in the articles by nationality and by a Turkish identification number. For a foreigner this is the tax identification number, or the foreigner identity number if one has been issued. The Istanbul registry’s list for foreign individual shareholders asks for:

  • a notarised copy of the Turkish translation of the passport;
  • a document showing the tax identification number from a tax office, or the foreigner identity number;
  • a notarised residence permit, only if the shareholder lives in Turkey.

A foundation notification form (kuruluş bildirim formu) is also prepared when a shareholder is a foreign national or a Turkish citizen living abroad.

The Revenue Administration’s Digital Tax Office has an online “Potential Tax Number Application for Foreigners” form, which asks for your passport number, country, address and personal details. We usually arrange the number as part of the formation file. See our Turkish tax ID guide for how the number is used afterwards.

Opening the company’s bank account

Banks in Turkey identify customers under the Regulation on Measures for the Prevention of Laundering Proceeds of Crime and Financing of Terrorism (Official Gazette, 9 January 2008), published on the website of MASAK, the Financial Crimes Investigation Board. Three provisions shape what a US founder will be asked for:

  • Identity (Art. 6): a non-Turkish national’s identity is verified from a passport, a residence document or another identity document accepted by the Ministry.
  • Beneficial owner (Art. 17/A): for a company registered in the trade registry, the bank identifies the individual shareholders who hold more than 25% of the shares.
  • Foreign legal entities (Art. 11): a foreign company is identified from its equivalent documents certified by a Turkish consulate or with an apostille, and where the risk assessment requires it, from their notarised Turkish translations.

These are minimum rules, and the regulation itself refers to a risk-based approach, so a bank can ask for more. No adviser can promise that a bank will open an account. Read our corporate bank account guide before you plan the capital transfer.

The US–Turkey tax treaty and dividends

A double taxation treaty between Turkey and the United States exists. The Revenue Administration’s list of treaties in force (dated 23 April 2025) shows it signed on 28 March 1996, published in the Official Gazette on 31 December 1997 (No. 23217) and in force since 19 December 1997.

On dividends, the treaty text published by the Revenue Administration (Article 10/2) limits the tax Turkey can charge when the beneficial owner is a US resident:

  • 15% of the gross dividend if the beneficial owner is a company holding at least 10% of the voting shares of the paying company;
  • 20% in all other cases.

Turkey’s domestic rate is already 15%. The Revenue Administration’s tables show 15% withholding on dividends paid to non-resident individuals (Income Tax Law Art. 94/6-b-ii) and to non-resident companies without a Turkish permanent establishment (Corporate Tax Law Art. 30), applying from 22 December 2024 under Presidential Decision No. 9286. Adding profit to capital is not treated as a distribution. On today’s rules, then, the treaty cap is not lower than the domestic rate for dividends. The treaty matters for other payments and conditions, which we check case by case. Our double taxation agreements guide explains how treaty relief is claimed in Turkey.

Ask your US adviser before you form. The US has its own rules on how a US citizen is taxed on, and reports, a foreign company. We do not advise on US tax. Those rules can change which structure makes sense: an LLC or a JSC, personal ownership or ownership through a US entity. Settle that question with a US-licensed tax adviser first, then we set up the Turkish side to match.

Living or working in Turkey requires its own permit

Owning shares does not grant an automatic right to live or work in Turkey. Residence and work permissions follow their own statutory rules:

  • Residence: Law No. 6458 (Art. 31/1-c) lists foreigners who will establish business connections or set up a business among those who may be granted a short-term residence permit. Article 31/2 limits each grant to at most two years. The decision belongs to the migration authority.
  • Work: the Ministry of Labour and Social Security says a foreigner must obtain a work permit or a work permit exemption before starting work in Turkey. Its FAQ states that a shareholder who is the manager of a limited company can work with a work permit, while a shareholder with no managerial role is assessed under the work permit exemption rules.
  • Work permit as residence: Article 27 of Law No. 6458 says a valid work permit counts as a residence permit.

If you plan to run the company from Turkey, tell us at the start. It affects who is appointed manager and when. See work permits in Turkey and our note on the work permit for a company owner.

How we work with US-based founders

We work with clients of every nationality. Consultations, correspondence and reports are in English (or Turkish, if preferred); official filings and correspondence with Turkish authorities are in Turkish. A typical file from the US runs in this order:

  1. We agree the company type, activity, capital and managers with you, after you have spoken to your US adviser.
  2. We draft the PoA text so it covers the registry, the tax office and the other formation steps.
  3. You sign before a US notary and obtain the state apostille, then courier the original to Istanbul.
  4. We arrange the sworn translation, the tax number and the MERSIS application, and represent you at the registry appointment.
  5. After registration we handle the tax office set-up, the bank file and the monthly accounting.

Once the documents are ready, the Trade Registry stage usually takes a few business days (our estimate for a complete file is 3 to 5 business days). The total, including the apostille, courier, tax office and bank steps, depends on the apostille office, the courier and the bank; we plan most files at 2 to 4 weeks, but we cannot guarantee a fixed duration and confirm the plan for your case. For official fees, see our company formation cost breakdown. If you are investing from Britain, the UK investor page covers the FCDO apostille route. When you are ready, contact us with your state of residence and the structure you have in mind.

Frequently asked questions

Can a US citizen own 100% of a Turkish company?

Yes. A Turkish limited company (LLC) can have a single shareholder, and its shareholders can be individuals or companies. The Istanbul Trade Registry’s document list for foreign individual shareholders asks for a notarised Turkish translation of the passport and a Turkish tax identification number, not for a Turkish partner.

Do I have to travel to Turkey to set up the company?

Usually not. The Istanbul Trade Registry states that when the articles of association are signed by proxy and the original or a notarised copy of the power of attorney is submitted, the shareholders do not need to attend. A manager who is not a shareholder must attend in person to give the signature declaration unless a digital signature declaration is already in MERSIS.

Which US office issues the apostille on my power of attorney?

For documents notarised or issued in a US state, the apostille is issued by that state’s designated authority, generally the Secretary of State; in Georgia it is the Georgia Superior Court Clerks’ Cooperative Authority. Documents issued by US federal agencies are apostilled by the US Department of State’s Office of Authentications.

Can I sign the power of attorney at a Turkish consulate in the US?

Check the consulate first. The Turkish Consulate General in New York says in its 2026 guidance that foreigners can grant a power of attorney there only for property purchase or sale and for attorney or divorce matters, and that non-Turkish legal entities cannot obtain one there. For a company formation power of attorney, the usual route is a US notary plus an apostille.

Is there a tax treaty between the United States and Turkey?

Yes. The Revenue Administration’s list of treaties in force shows the US treaty signed on 28 March 1996 and in force since 19 December 1997. Its dividend article caps Turkish tax at 15% for a company holding at least 10% of the voting shares and at 20% in other cases; Turkey’s domestic rate on dividends paid to non-residents is currently 15%.

Does owning a Turkish company give me a residence or work permit?

Not automatically. Law No. 6458 says a short-term residence permit may be granted to foreigners who will establish business connections or set up a business, and each grant is for at most two years. Working in Turkey requires a work permit or a work permit exemption obtained before you start work.

Official sources