How to Set Up a Company in Turkey as a Foreigner
Turkey continues to attract foreign entrepreneurs, investors, and companies looking for access to a dynamic market between Europe, the Middle East, and Central Asia. For many international clients, establishing a Turkish company is the first step toward trading, hiring, investing, or building a local presence.
Although the incorporation process can be relatively straightforward when the documentation is properly prepared, choosing the right legal structure and understanding post-incorporation obligations are essential.
Can Foreigners Open a Company in Turkey?
Yes. Foreign individuals and foreign legal entities may establish companies in Turkey. In practice, the most commonly used company types are the limited liability company and the joint stock company.
The right structure depends on the shareholder profile, business model, capital needs, governance expectations, and future plans of the investor.
Common Company Types for Foreign Investors
Limited Liability Company
A limited liability company is commonly preferred by small and medium-sized businesses. It is often suitable for entrepreneurs, trading businesses, service providers, and foreign-owned local operations.
Joint Stock Company
A joint stock company may be more suitable for larger operations, investment structures, multiple shareholders, or businesses that may require more flexible share transfers or future financing.
Before incorporation, foreign investors should carefully assess which structure better supports their commercial plans.
Main Steps of Company Formation in Turkey
The company formation process generally includes:
- Choosing the company type and business scope
- Preparing the articles of association
- Completing MERSIS registration procedures
- Preparing shareholder and manager documents
- Obtaining tax numbers where required
- Signing and notarizing relevant documents
- Filing the application with the Trade Registry
- Completing tax, accounting, and post-registration steps
The process may move quickly when the documents are complete, but delays often occur when foreign documents are not properly legalized, apostilled, translated, or notarized.
Documents Usually Required
The required documents depend on whether the shareholder is an individual or a foreign company.
For individual foreign shareholders, passport copies, tax number procedures, and notarized translations may be required.
For foreign corporate shareholders, documents such as a certificate of activity, corporate resolutions, authorized signatory documents, and powers of attorney may be required. Documents issued abroad usually need to be apostilled or legalized and then translated and notarized in Turkey.
Key Legal Points to Consider
Company formation is not only an administrative registration process. Foreign investors should also consider:
- shareholder structure
- management authority
- tax and accounting coordination
- commercial contracts
- sector-specific licensing
- employment and work permit issues
- banking and capital flow
- future share transfers or exit planning
A company that is established quickly but poorly structured may create legal and operational problems later.
Frequently Asked Questions
Can a foreigner own 100% of a Turkish company?
In many sectors, yes. Foreign investors may establish fully foreign-owned companies in Turkey. However, certain regulated sectors may require additional review or permissions.
Is a Turkish partner required?
For most standard commercial companies, a Turkish partner is not required. The need for a local partner should be assessed depending on the sector and business model.
Can the process be handled remotely?
In many cases, certain steps may be handled through powers of attorney. However, the exact process depends on the shareholder structure, document availability, banking requirements, and registry practice.
How long does company formation take?
Once the required documents are properly prepared, registration can be completed relatively quickly. However, preparation of foreign documents, apostille/legalization, translation, notarization, tax number procedures, and banking steps may affect the overall timeline.
Do foreign shareholders need a work permit?
Owning shares in a Turkish company does not automatically mean that the foreign shareholder has the right to work in Turkey. Work permit requirements should be evaluated separately.
Legal Support for Company Formation in Turkey
Gozkaya Legal advises foreign clients on company formation, corporate structuring, trade-related contracts, and ongoing legal compliance in Turkey.
For further guidance on establishing a company in Turkey, you may contact us to discuss the most suitable legal structure for your business plans.