How to Register a Company in Turkey in 2026: Forms, Capital, and Taxes

Thinking of starting a business in Turkey? Learn how to open a company in 2026, including capital requirements for Ltd and A.Ş., taxes, and work permits.

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.

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 by a single founder. In 2026, the minimum capital is 50,000 TL for an Ltd. and 250,000 TL for an A.Ş. Registration is processed via the MERSİS system and the Trade Registry, with the company receiving its tax identification number automatically. Please note that company ownership itself does not grant the right to work: the founder requires a work permit, and according to Ministry of Labor criteria, the capital requirement for that is at least 500,000 TL.

Choosing the right business form

For foreigners, the practical choice is between three forms. A sole proprietorship (şahıs şirketi) is the simplest in terms of accounting but carries unlimited personal liability for debts. To work, an individual entrepreneur needs an independent work permit (bağımsız çalışma izni), which the Ministry grants at its discretion based on education, experience, and contribution to the economy (Art. 10 of Law No. 6735). Consequently, most foreign investors opt for a limited şirket.

Form	Founders	Minimum Capital	Capital Deposit Timeline
Şahıs şirketi (Sole Proprietorship)	1 individual	None	—
Limited şirket (Ltd. Şti.)	1 to 50	50,000 TL	Within 24 months of registration; no advance deposit required
Anonim şirket (A.Ş.)	1 or more	250,000 TL (500,000 TL if using registered capital system)	At least 25% of cash capital before registration; remainder within 24 months

Minimum capital requirements were increased by Presidential Decree No. 7887 (Resmî Gazete dated 25.11.2023): previously, these were 10,000 TL for Ltd. and 50,000 TL for A.Ş. Companies established with lower capital are required to increase it to meet the new thresholds; on 17.10.2026, the Ministry of Trade extended this deadline to 31.12.2027. In an Ltd., members are liable only for their capital shares, but the sale of a share requires a notarized signature, and unless the articles of association state otherwise, the approval of the general assembly (Art. 595 TTK). Shares in an A.Ş. are easier to transfer, which is why this form is often chosen for large-scale investment projects.

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

Founder's Tax Number. A foreigner needs a personal Turkish tax number — instructions on how to obtain one can be found in our article on vergi numarası.
Articles of Association in MERSİS. The articles of association are drafted through the Ministry of Trade's Central Registration System (MERSİS), detailing the company name, address, scope of business, 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 of association are signed in the presence of an authorized Trade Registry officer (Art. 575 TTK). MERSİS allows signing via electronic or mobile signature; for foreigners, the system generates a separate document for signature verification. If the founder cannot be present, a power of attorney is required.
Payment. Cash contributions must be deposited into a special account in a Turkish bank dedicated to the company being established (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 notice is published in the Türkiye Ticaret Sicili Gazetesi; via e-İlan, this occurs within two hours. Upon registration, the potential tax number becomes permanent.
Work Permit and Business License. Only after registration and receiving the tax number can the foreigner apply for a work permit, and subsequently to the local municipality for a workplace opening and operation license (işyeri açma ve çalışma ruhsatı).

Companies are registered according to their location. 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).

Costs of opening a business in 2026

Establishing an Ltd. or A.Ş. is exempt from state duty (harç), but chambers and the registry charge various fees. Below is the 2026 ATSO fee schedule; please verify current figures with ALTSO before filing.

Fee Type	Amount (ATSO, 2026)
State registration duty	Exempt
Articles of association approval and ledger certification	3,650 TL
Registration fee	1,900 TL
Company signature circular (imza beyannamesi)	1,300 TL
Chamber initiation fee	4,875 TL + 0.1% of capital (min 6,000 TL, max 16,515 TL)
Publication in Ticaret Sicili Gazetesi	2.48 TL per word + 550 TL service fee
Rekabet Kurumu contribution	0.04% of capital

For an Ltd. with a 50,000 TL capital, the fixed costs (excluding the publication fee) total approximately 18,300 TL; the publication cost depends on the length of the articles. The capital itself is company funds, not an expense. The services of a mali müşavir (accountant), translator, and notary are subject to private agreements; there is no official "all-inclusive" fee. If the founder intends to work in the firm, add the work permit fee: in 2026, 12,574.90 TL for a permit of up to one year plus 964 TL for the document booklet.

Accountant, Taxes, and Banking

A mali müşavir (licensed accountant, SMMM) is essential from day one. The company must keep records according to Turkish standards, file monthly VAT returns, salary withholdings, advance tax payments, and annual financial statements electronically. Errors can lead to significant fines. Their fees are negotiated.

For an A.Ş., a bank account must be opened before registration to deposit 25% of the cash capital. An Ltd. can register and deposit capital within 24 months. After registration, the bank will require corporate and signatory documents; specific details for foreigners are in our article on opening a bank account in Turkey.

Work Permit and Residence Permit for the Founder

Registering a company does not grant the right to work in it. Law No. 6735 (Art. 10) allows an Ltd. manager/member or an A.Ş. board member to work with a valid permit. This permit serves as a residence permit (ikamet izni) (Art. 12), so a separate residence permit is not required. The Ministry processes the application within 30 days. If the permit is granted from abroad, entry into Turkey must occur within six months.

Criteria for foreign founders as per the Ministry of Labor website (verified 26.10.2026):

Paid-up capital of at least 500,000 TL, with the foreigner's stake being at least 500,000 TL and no less than 20%;
Employment of at least five Turkish citizens. The first permit is granted on the condition that from the seventh month, five Turkish citizens are employed every month;
If the foreigner's share capital contribution is at least 100,000 USD, these two requirements are waived;
According to general criteria, the salary for a manager must be at least three times the minimum wage, and for a top executive, five times. The 2026 gross daily minimum wage is 1,101 TL; thus, the monthly gross minimum is 33,030 TL, and the thresholds are 99,090 TL and 165,150 TL respectively.

As of 03.08.2026, a new exception applies: when applying from within Turkey, foreigners who have legally resided in the country for at least one year within the last three years are exempt from the hiring and capital requirements. This is limited to three foreign employees per company, and the number of foreign employees cannot exceed the number of Turkish citizens. Check the applicability to founders upon submission. Working without a permit carries heavy penalties: in 2026, the fine for a foreigner working for themselves is 82,010 TL; 40,977 TL for an employee; and 102,503 TL for the employer per foreign employee, with amounts doubling for repeat offenses.

Annual Obligations and Taxes

Corporate Tax (kurumlar vergisi) — 25% (Art. 32 of Law No. 5520); for banks, insurance companies, and certain financial institutions, the rate is 30%. For manufacturing profits of firms with a registered industrial certificate, the rate is 12.5% effective from May 21, 2026. The tax cannot be less than 10% of the profit before deductions and exemptions (minimum tax, Art. 32/C).
Deadlines — The annual declaration must be filed between the 1st and 25th of the fourth month following the end of the fiscal year (i.e., April 1–25 for a calendar year), with payment due by the end of that same month. Advance tax payments (geçici vergi) are made throughout the year at the same rate.
VAT (KDV) — The standard 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 fiscal year (Art. 409 and 617 of the Turkish Commercial Code - TTK) to approve financial statements and profit distribution.
Capital — If a firm was established before the minimum capital increase, the capital must be raised to 50,000 / 250,000 TL by December 31, 2027.

Real Estate for Companies: What’s Changing

A Turkish firm where foreigners hold 50% or more of the shares, or where they appoint the majority of the management, may purchase real estate only for the purposes stated in its Articles of Association (Art. 36 of the Cadastral Law No. 2644). In military and special security zones, authorization from the General Staff or the governor is required, and the use of such properties is verified 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 it will be subject to forced liquidation.

Taxation also differs. Corporate profit from a sale is subject to a 25% tax. The tax exemption for capital gains on the sale of real estate was abolished for properties acquired on or after July 15, 2023 (Law No. 7456); for properties bought before this date, 25% of such profit remains tax-exempt. Therefore, for most foreigners, it is simpler to purchase a residential property or an investment unit for rental purposes in their own name. We have covered the property purchase process in a separate article.

FAQ

Is a local 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 visiting Turkey?

The Articles of Association can be signed using an electronic or mobile signature via MERSİS. Without a Turkish electronic signature, documents can be signed by a representative via a power of attorney.

Does a company grant a residence permit?

Not directly. The legal basis for staying in Turkey is a work permit, which replaces the standard residence permit (ikamet izni).

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

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

How long does the incorporation process take?

There is no fixed statutory deadline. The announcement in the registry appears within two hours of submission via e-İlan, and work permit applications are typically reviewed within 30 days, provided the document package is complete.