How to Open a Business in Turkey in 2026: Company Types, Capital, and Taxes

Thinking of starting a business in Turkey in 2026? Discover the requirements for Ltd and A.S. companies, capital rules, and tax tips from NewTime Investment.

New Time Investment is a real estate agency in Alanya (Antalya, Turkey). We help international buyers choose, buy and rent apartments, villas and commercial property, complete the deal, obtain a residence permit and manage property.

How to Open a Business in Turkey in 2026: Company Types, Capital, and Taxes

Foreigners can establish a company in Turkey without a local partner: the Turkish Commercial Code No. 6102 allows for the creation of a limited şirket (Ltd) or anonim şirket (A.Ş.) even with a single founder. In 2026, the minimum capital requirement is 50,000 TL for an Ltd and 250,000 TL for an A.Ş. Registration is managed through the MERSİS system and the Trade Registry, with the tax number issued to the company automatically. Note that the company registration itself does not grant the right to work for the founder: a work permit is required, and according to Ministry of Labor criteria, the capital threshold for such a permit is at least 500,000 TL.

Choosing the right business structure

For international investors, the primary choice lies between three forms. A sole proprietorship (şahıs şirketi) is the simplest to account for, but the owner is personally liable for all debts. To work, an individual entrepreneur needs an independent work permit (bağımsız çalışma izni), which the Ministry issues at its discretion based on education, experience, and contribution to the economy (Art. 10 of Law No. 6735). Consequently, the majority of foreign investors opt for a limited şirket.

Form	Founders	Minimum Capital	Capital Contribution Deadline
Şahıs şirketi (Sole Proprietorship)	1 individual	None	—
Limited şirket (Ltd. Şti.)	1 to 50	50,000 TL	Within 24 months of registration; no pre-registration deposit required
Anonim şirket (A.Ş.)	1 or more	250,000 TL (500,000 TL under the registered capital system)	At least 25% of cash contributions must be paid before registration; the rest within 24 months

These minimums were increased by Presidential Decree No. 7887 (Resmî Gazete dated 25.11.2023), up from 10,000 TL for Ltd and 50,000 TL for A.Ş. Companies established with lower capital are required to increase it to meet these new thresholds; on 17.10.2026, the Ministry of Trade extended this deadline to 31.12.2027. In an Ltd, participants are liable only up to their capital shares, but transferring a share requires a notarized written agreement and, unless otherwise stated in the articles of association, approval by the general assembly (Art. 595 TTK). A.Ş. shares are easier to transfer, making this form preferred for investors and large-scale projects.

Registration via MERSİS and Trade Registry: Step-by-Step

Founder's tax number. A foreign founder will need a personal Turkish tax number — the procedure is explained in our article on vergi numarası.
Articles of Association in MERSİS. Through the Ministry of Trade's Central Registration System (MERSİS), the articles are prepared, including the company name, address, business activities, capital, and the manager (müdür) for Ltd or the board of directors for A.Ş. During the application stage, the system generates a potential tax number for the firm.
Signing. The Ltd articles must be signed in the presence of an authorized Trade Registry officer (Art. 575 TTK). MERSİS allows signing with an electronic or mobile signature; for foreigners, the system generates a separate signature verification document. If the founder cannot be present, the process can be handled via power of attorney.
Payment. Capital contributions must be deposited into a special account in a Turkish bank dedicated to the company being formed (Art. 345 TTK). Additionally, a contribution to the Competition Authority (0.04% of the capital) is paid (Law No. 4054).
Registration and Publication. The Ticaret sicili müdürlüğü registers the company, and the announcement is published in the Türkiye Ticaret Sicili Gazetesi via e-İlan within two hours. Upon registration, the firm's potential tax number becomes permanent.
Work permit and business license. Only after registration and receipt of the tax number can the foreign founder apply for a work permit. Once obtained, they must apply to the municipality for a business operating license (işyeri açma ve çalışma ruhsatı).

The company is registered based on its place of business. In Alanya, the trade registry is managed by the Alanya Chamber of Commerce and Industry (ALTSO), and in Antalya by the Antalya Chamber of Commerce and Industry (ATSO).

The cost of opening a company in 2026

The establishment of Ltd and A.Ş. entities is exempt from government stamp duties (harç), but chambers and the registry charge fees. Below are the 2026 ATSO tariffs; please verify current amounts with ALTSO before applying.

Fee Type	Amount (ATSO, 2026)
Establishment fee	Exempt
Certification of articles and ledger books	3,650 TL
Registration fee	1,900 TL
Signature declaration (imza beyannamesi)	1,300 TL
Chamber entrance fee	4,875 TL + 0.1% of capital (min 6,000 TL, max 16,515 TL)
Establishment notice in Ticaret Sicili Gazetesi	2.48 TL per word + 550 TL service fee
Rekabet Kurumu fee	0.04% of capital

For an Ltd with 50,000 TL capital, the table items (excluding the announcement) total approximately 18,300 TL; the announcement cost depends on the length of the articles. Note that the registered capital belongs to the company and is not considered an expense. The services of a mali müşavir (accountant), translator, and notary are paid by agreement, as there is no official "turnkey" price. If the founder intends to work in the firm, add the work permit fee: in 2026, this is 12,574.90 TL for a permit up to one year, plus 964 TL for the document fee.

Accountant, taxes, and bank account

A mali müşavir (licensed accountant, SMMM) is required from almost day one. The company must maintain records according to Turkish regulations, file monthly VAT returns, payroll tax withholdings, advance tax payments, and annual financial statements electronically. Errors in these filings result in fines. The accountant's fee is subject to private contract.

For an A.Ş., the bank account must be opened before registration because 25% of the cash capital must be deposited in advance. An Ltd can register and deposit capital later, within the 24-month limit. After registration, the bank will request documentation regarding the firm and its signatories; details on opening an account for foreigners can be found in our article on bank accounts in Turkey.

Work permits and residence for the founder

Company registration alone does not grant the right to work. Law No. 6735 (Art. 10) allows for work permits for foreign participants and managers of an Ltd, or participants and board members of an A.Ş. The work permit simultaneously replaces the residence permit (ikamet izni) (Art. 12), so a separate residence permit (ikamet) is not required. The Ministry reviews complete applications within 30 days. If the permit is granted based on an application from abroad, the individual must enter Turkey within six months.

Criteria for foreign founders according to the Ministry of Labor website (verified 26.10.2026):

Paid-in capital of at least 500,000 TL, with the foreigner's stake being at least 500,000 TL and no less than 20%;
At least five Turkish citizen employees per foreigner. The first permit is granted on the condition that five Turkish citizens must be employed starting from the seventh month;
If the foreigner's capital stake is at least 100,000 USD, these two requirements are waived;
According to general criteria, the director's salary must be at least three times the minimum wage; for high-level management, it must be five times. The 2026 gross minimum wage is 1,101 TL per day (33,030 TL per month), setting the respective thresholds at 99,090 TL and 165,150 TL.

As of 03.08.2026, a new exception applies: for applications made from within Turkey, foreign nationals who have legally resided in Turkey for at least one year within the last three years are exempt from the hiring and capital requirements. This is limited to three foreigners per company, provided the number of foreigners does not exceed the number of Turkish citizens. Verify if this applies to your specific case upon filing. Working without a permit is costly: in 2026, the fine for a foreigner working for themselves is 82,010 TL; for an employee it is 40,977 TL; and for the employer, it is 102,503 TL per foreign employee, with amounts doubling for repeat offenses.

Annual obligations and taxes

Corporate Income Tax (kurumlar vergisi) — 25% (Article 32 of Law No. 5520); for banks, insurance, and certain financial institutions, it is 30%. For manufacturing profits of companies with an industrial registration certificate, the rate is 12.5% as of the changes from May 21, 2026. The tax cannot be less than 10% of the profit before deductions and exemptions (minimum tax, Article 32/C).
Deadlines — The annual declaration is submitted between the 1st and the 25th of the fourth month following the end of the fiscal period (e.g., April 1–25 for the calendar year), and payment is due by the end of that same month. Throughout the year, advance tax payments (geçici vergi) are made at the same rate.
VAT (KDV) — The general rate is 20%, with a reduced rate of 10% (Presidential Decree No. 7346, effective from July 10, 2023). The declaration is submitted monthly.
General Assembly — The ordinary meeting of shareholders must be held within three months after the end of the financial year (Articles 409 and 617 of the Turkish Commercial Code - TTK). This meeting approves financial reports and the distribution of profits.
Capital — If a company was established before the minimum capital increase, its capital must be raised to 50,000 / 250,000 TL by December 31, 2027.

Real estate under a company: what is changing

A Turkish company where foreigners own 50% or more of the shares or appoint the majority of the management can only purchase real estate for purposes specified in its articles of association (Article 36 of the Cadastre Law No. 2644). In military and special security zones, permission from the General Staff or the governor's office is required, and the usage of such properties is verified by the authorities via Tapu records. If a property is acquired or used in violation of these rules, the Ministry of Treasury and Finance provides a deadline for its sale, after which the property is subject to forced liquidation.

Taxation also differs. Company profit from a sale is subject to a 25% tax, and the exemption on capital gains from real estate sales has been abolished for properties acquired from July 15, 2023 (Law No. 7456); for those purchased earlier, 25% of such profit remains exempt. Therefore, for foreigners, it is usually simpler to register a property intended for personal use or rental in their own name. We have covered the details of the real estate purchasing process in a separate article.

FAQ

Is a Turkish partner or director required?

No. Both Limited (Ltd) and Joint Stock (A.Ş.) companies can be founded by a single person, including a foreigner, who can also serve as the director.

Can I open a company without coming to Turkey?

The articles of association can be signed via electronic or mobile signature through MERSİS. If you do not have a Turkish electronic signature, a representative can sign on your behalf via a power of attorney.

Does owning a company grant a residence permit?

Not automatically. The basis for legal residency is a work permit, which replaces the standard residence permit (ikamet izni).

What capital is required for a founder to work in their own company?

According to 2026 criteria, the company's paid-in capital must be at least 500,000 TL, and the foreigner's stake must be at least 500,000 TL and 20%, or alternatively, a share worth at least 100,000 USD.

How long does it take to open a company?

There is no fixed statutory deadline. The registration notice is published in the trade registry gazette within two hours of submission via e-İlan, and work permit applications are generally processed within 30 days, provided the dossier is complete.