Navigating Business Establishment in Turkey: A Guide for International Companies

Turkey offers foreign investors several business structures, each with distinct requirements and advantages. Understanding these options is crucial for successful market entry.

Joint Stock Company (JSC)

The JSC structure divides capital into shares, with shareholder liability limited to their shareholding. Recent legal reforms have streamlined requirements: minimum founders reduced from five to three (natural or legal persons), board members from three to one, and minimum capital set at 50,000 TRY.

Limited Liability Company (LLC)

The LLC framework now permits single-person establishment, eliminating the previous two-person minimum. Registration must occur within seven days of formation, with publication on the company website. Minimum capital increased from 5,000 to 10,000 TRY. Certain regulated sectors, including specific financial services, cannot operate as LLCs.

Branch Office

Foreign entities may establish branches without government approval, though certain sectors like energy remain restricted. Registration requires board resolution submission to local trade registry offices, with at least one appointed representative (no nationality restrictions).

Representative Office

Representative offices conduct non-commercial activities only, such as market research and project monitoring. They require Ministry of Industry and Technology approval with three-year renewable licenses.

Essential Registration Documentation

Standard requirements include:

Articles of Association detailing company particulars
Shareholder resolutions approving establishment
Passport/ID copies for all directors and shareholders
Registered address verification
Board resolutions for corporate shareholders
Turkish bank account confirmation
Completed registration application forms
Tax and social security registration certificates
Notarized documents where applicable

Additional documentation varies for individual versus corporate foreign partners, with all foreign-issued documents requiring Turkish consular legalization.

Registration Process Overview

Submit articles via MERSIS for institutional code
Obtain tax number from revenue administration
Apply to Trade Registry Office with complete documentation
Complete social security registration for employees

Turkish Commercial Code Framework

The TCC governs corporate establishment, operation, and dissolution. Key aspects include mandatory registration, shareholder governance, financial reporting, and audit requirements for larger entities. The legal framework ensures investor protection, governance standards, and international compliance.

Alternative Market Entry Solutions

For companies seeking rapid market access without entity establishment, SailGlobal offers Employer of Record services enabling compliant talent engagement within days. This approach eliminates registration complexities while ensuring full legal compliance.

Turkey Company Registration Guide 2024: Business Setup Requirements