Turkey allows 100% foreign ownership under FDI Law No. 4875. This guide covers the exact documents, procedures, and timelines for registering your company as a non-Turkish citizen. Whether you plan to establish an LLC, a Joint Stock Company, or a branch office, the steps below are designed to help you navigate each stage of the process with clarity.
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Turkey's legal framework provides a transparent and regulated environment for foreign nationals seeking to establish a business. The cornerstone of this framework is the Foreign Direct Investment Law (Law No. 4875), enacted in 2003, which grants foreign investors the same rights and obligations as Turkish citizens in business formation and operation.
Under FDI Law No. 4875, foreign nationals and foreign-owned companies may hold 100% of shares in a Turkish entity. There is no requirement to include a Turkish partner or local shareholder. This applies to Limited Liability Companies (LLC), Joint Stock Companies (JSC), and other entity types recognized under the Turkish Commercial Code (Law No. 6102).
Foreign investors are subject to the same legal rules, tax obligations, and regulatory requirements as domestic investors. There are no additional licensing requirements, higher tax rates, or special restrictions imposed solely on the basis of foreign ownership. The equal treatment principle is codified in Article 3 of Law No. 4875.
Turkey does not impose a reciprocity condition for company registration. Regardless of whether your home country allows Turkish nationals to form companies in its jurisdiction, you retain the right to register a company in Turkey. This makes the country accessible to investors from virtually any nationality.
Foreign investors may freely transfer profits, dividends, and capital proceeds abroad through authorized banking channels. There are no restrictions on converting Turkish Lira to foreign currency for the purpose of repatriating earnings, provided that applicable tax obligations have been fulfilled.
While the legal framework is investor-friendly, certain sectors such as media, energy, and transportation may have additional licensing requirements or foreign ownership limitations. Investors are advised to verify sector-specific rules before proceeding. For further information, see our Company Formation in Turkey guide.
Turkey offers several legal structures for foreign investors. The most common options are the Limited Liability Company (LLC), the Joint Stock Company (JSC), the branch office, and the liaison office. Each structure carries different capital requirements, governance obligations, and operational scope.
| Feature | LLC (Ltd. Sti.) | JSC (A.S.) | Branch Office | Liaison Office |
|---|---|---|---|---|
| Minimum Capital | 50,000 TRY | 250,000 TRY | No minimum | No minimum |
| Shareholders | 1 to 50 | 1 or more | Parent company | Parent company |
| Foreign Ownership | Up to 100% | Up to 100% | 100% (extension of parent) | 100% (extension of parent) |
| Commercial Activity | Yes | Yes | Yes | No (market research only) |
| Governance | Manager(s) | Board of Directors | Authorized representative | Chief liaison officer |
| Independent Audit Required | Only if thresholds met | Only if thresholds met | Follows parent rules | No |
| Capital Deposit Before Registration | No (24-month grace period) | Yes (25% upfront) | No | No |
The LLC (Ltd. Sti.) is the most common entity type chosen by foreign investors due to its lower capital requirement, simpler governance structure, and flexibility. Unless your business specifically requires a JSC structure (for example, to issue publicly traded shares or meet sector-specific regulations), the LLC is typically the more practical choice. For a detailed walkthrough, see How to Set Up an LLC in Turkey and LLC in Turkey for Foreigners.
The documentation requirements for foreign company registration in Turkey depend on whether the shareholder is an individual person or a corporate entity. All documents originating from outside Turkey must be apostilled (or consularly legalized) and sworn-translated into Turkish.
Turkey is a signatory to the Hague Apostille Convention. Documents from Convention member countries must carry an apostille stamp to be recognized in Turkey. Documents from non-member countries require consular legalization at the Turkish Embassy or Consulate in the country of origin. Apostille processing times vary by country, typically ranging from 1 to 10 business days. This step should be completed before sending documents to Turkey.
The foreign company registration process in Turkey follows a structured sequence. Below are the standard steps for forming an LLC or JSC as a foreign investor. Each step must be completed in order, as later stages depend on the outputs of earlier ones.
Gather all required documents (passport copies, Power of Attorney, corporate resolutions) and have them notarized and apostilled in your home country. Send the originals to Turkey for sworn translation.
Each foreign shareholder and director must obtain a Turkish tax ID number (Vergi Kimlik Numarasi) from the local tax office. This can be done through an authorized representative using a Power of Attorney.
MERSIS (Central Registration System) is the Ministry of Trade's online platform for company registration. The articles of association are drafted and submitted through this system. A unique MERSIS number is generated upon completion.
For a JSC, at least 25% of the subscribed capital must be deposited into a bank account opened in the company's name before registration. The bank issues a blockage certificate confirming the deposit. LLC shareholders have 24 months after registration to pay in their capital commitments.
Submit the complete application package to the Trade Registry Office (Ticaret Sicil Mudurlugu). The package includes the MERSIS-approved articles of association, notarized signature declarations, apostilled documents, sworn translations, and bank blockage certificate (if applicable).
Upon approval, the Trade Registry Office publishes the company formation notice in the Turkish Trade Registry Gazette. This publication serves as the official public announcement of the company's establishment.
Register with the local tax office (Vergi Dairesi) to obtain the company's tax registration certificate. A tax inspector will schedule an address verification visit (Yoklama) within 15 days to confirm the registered office is operational.
Register the company with SGK (Sosyal Guvenlik Kurumu) as an employer. This is mandatory before hiring any employees, including the company's own directors if they hold a work permit in Turkey.
All commercial entities must register with the local Chamber of Commerce or Chamber of Industry. This registration is typically processed together with the Trade Registry application and provides the company with its chamber membership certificate.
Open a corporate bank account at a Turkish bank. Foreign-owned companies may face enhanced due diligence procedures. Required documents typically include the trade registry certificate, tax registration certificate, signature circulars, and passport copies of authorized signatories.
Foreign investors are not required to be physically present in Turkey to register a company. The entire process can be completed remotely through a notarized and apostilled Power of Attorney (PoA) that authorizes a representative in Turkey to act on the investor's behalf.
The Power of Attorney can be executed at a Turkish Consulate in the investor's country of residence. Documents signed at a Turkish Consulate do not require a separate apostille, as the Consulate's certification is recognized directly by Turkish authorities. This option may reduce processing time by eliminating the apostille step.
Alternatively, the investor can sign the Power of Attorney before a local notary in their home country. The document must then be apostilled by the designated authority (typically the Ministry of Foreign Affairs or a court) in the same country. Once apostilled, the PoA is sent to Turkey for sworn translation into Turkish.
The PoA should explicitly grant authority for the following actions: drafting and signing the articles of association, registering the company with MERSIS and the Trade Registry, signing documents before the notary, registering with the tax office and SGK, opening a corporate bank account, and handling all administrative procedures related to the company formation process. A narrowly drafted PoA may result in delays if it does not cover a specific step required by the Trade Registry or notary.
Celikel CPA regularly handles remote company formations for clients across Europe, Asia, the Middle East, and the Americas. Our team provides PoA templates in multiple languages, coordinates with Turkish notaries and the Trade Registry, and manages the entire process from document receipt through post-registration setup. Contact us to discuss your remote formation requirements.
The total timeline for foreign company registration in Turkey typically ranges from 3 to 6 weeks, depending on document preparation speed, apostille processing times in the investor's country, and workload at the Trade Registry Office.
| Stage | Estimated Duration | Notes |
|---|---|---|
| Document preparation and apostille | 1 to 2 weeks | Depends on the investor's country of residence |
| Sworn translation | 2 to 4 business days | Upon receipt of apostilled originals in Turkey |
| Tax ID and MERSIS registration | 1 to 2 business days | Completed online with translated documents |
| Trade Registry application and approval | 3 to 5 business days | Varies by city, Istanbul may take longer |
| Tax office and SGK registration | 1 to 3 business days | Processed after Trade Registry approval |
| Bank account opening | 3 to 7 business days | Enhanced due diligence for foreign-owned entities |
| Total estimated timeline | 3 to 6 weeks | End-to-end from document preparation to operational readiness |
Delays most commonly occur during the apostille stage (some countries require 2 to 4 weeks), incomplete or incorrectly drafted documents that require re-notarization, and bank compliance reviews for certain nationalities. Working with an experienced CPA firm can help minimize these delays through proper document preparation from the outset. For cost details, see Company Formation Cost in Turkey.
Registering the company is only the first phase. Several additional steps must be completed to make the entity fully operational and compliant with Turkish regulations.
At least one authorized representative must obtain a qualified electronic signature (e-Imza) for filing tax returns, e-Invoice, and e-Ledger submissions through the Revenue Administration (GIB) portal. E-signature certificates are issued by authorized providers and are typically valid for 1 to 3 years.
Companies meeting certain revenue thresholds or operating in designated sectors are required to use the e-Invoice (e-Fatura) and e-Ledger (e-Defter) systems. Even companies below the mandatory threshold increasingly adopt these systems in anticipation of Turkey's ongoing digital transformation of tax administration.
Turkish companies must maintain proper bookkeeping records and file monthly VAT returns, withholding tax declarations, and quarterly corporate tax advance payments. Engaging a licensed CPA firm for accounting services and tax compliance is essential from the first month of operation.
Foreign shareholders or directors who plan to work in Turkey must apply for a work permit through the Ministry of Labour and Social Security. The work permit application can be submitted after the company is registered and has received its tax registration certificate.
Foreign companies operating in Turkey are advised to register their trademarks with TURKPATENT (Turkish Patent and Trademark Office) to protect their brand and intellectual property. Trademark registration is not mandatory for company formation but is strongly recommended for commercial operations in the Turkish market.
Within 15 days of tax office registration, a tax inspector will visit the registered office to verify the company's physical presence. The office must display company signage and have a representative available. A virtual office or serviced office address is acceptable, provided it meets the tax office verification criteria.
Based on our experience handling hundreds of foreign company registrations, the following are the most frequent errors that lead to processing delays. Each mistake is paired with a practical solution.
Mistake: Submitting documents without an apostille, or with an apostille from the wrong authority. Solution: Verify the designated apostille authority in your country before notarizing documents. Each country has a specific office (often the Ministry of Foreign Affairs or a court) responsible for issuing apostilles.
Mistake: Drafting a PoA that does not cover all required actions, forcing the investor to prepare and apostille a new one. Solution: Use a comprehensive PoA template that explicitly covers MERSIS, Trade Registry, notary, tax office, SGK, and bank account opening procedures.
Mistake: Choosing a company name that conflicts with an existing trade registry entry or does not comply with Turkish naming conventions. Solution: Conduct a name availability check through MERSIS before finalizing the articles of association.
Mistake: Attempting to register on MERSIS without first obtaining a Turkish tax identification number for each foreign shareholder. Solution: Apply for the tax ID number early in the process, ideally as soon as passport copies and PoA are available.
Mistake: Using a basic mail-forwarding address that fails the tax office verification visit. Solution: Secure a serviced office or virtual office that provides physical workspace, company signage, and a representative present during business hours to pass the Yoklama inspection.
Celikel CPA provides end-to-end company formation services tailored to the specific needs of foreign investors. Our approach is built on professional accountability, clear communication, and a thorough understanding of cross-border registration requirements.
Celikel CPA & Accounting Firm, led by CPA Yigit Celikel, supports foreign investors through every stage of company formation in Turkey. Our scope extends beyond registration to include tax planning, ongoing accounting, and regulatory compliance, aiming to help your Turkish operation maintain a stable financial and legal foundation.
The procedures, requirements, and legal provisions described on this page are based on the following official Turkish legislation and institutional resources: