Turkey at a glance
Turkey is one of the EU jurisdictions founders most often use today, especially while the EU-wide 28th Regime (EU Inc) is still a proposal. Below are the verified essentials: company types, tax, capital, timing and whether you can set up remotely.
Company types in Turkey
- Limited Sirket (limited liability company) The most common vehicle for foreign founders, similar to a GmbH or SARL: a single shareholder and director, limited liability, TRY 50,000 capital payable within 24 months with no upfront deposit.
- Anonim Sirket (joint-stock company) For larger operations or raising investment, and mandatory in regulated sectors. TRY 250,000 capital, 25% deposited before registration.
| Corporate tax | Standard corporate tax is 25% for 2025-2026 (30% for the financial sector), with a 5-point reduction for qualifying export, manufacturing and technology-zone income. A domestic minimum tax (generally at least 10%) applies from 2025, and free zones and technology development zones offer significant exemptions. |
|---|---|
| VAT rate | Standard VAT (KDV) is 20%, raised from 18% in mid-2023, with reduced rates of 10% and 1% and 0% on exports. Returns are filed monthly. |
| Minimum share capital | Limited Sirket: TRY 50,000 (about USD 1,400), raised from 10,000 in 2024, payable within 24 months with no upfront bank deposit. Anonim Sirket: TRY 250,000, with 25% deposited before registration. Companies under the old thresholds must top up by 31 December 2026. |
| Setup time | Typically 2 to 4 weeks with complete, translated documents. The trade-registry filing itself can clear in 3 to 10 business days; notarisation, sworn translations, tax numbers and bank account opening extend the practical timeline. |
| Remote setup | Yes. With a notarised, apostilled power of attorney to a local attorney, name reservation, tax numbers, MERSIS and trade-registry filing and the capital deposit can all be handled without travelling. Foreign investors get 100% ownership with no local partner. |
| Director / residency | No residency requirement: a single foreign, non-resident shareholder and director suffice, and 100% foreign ownership is permitted under the Foreign Direct Investment Law. Forming a company does not by itself grant residency but can support a work-permit application. |
| Banking options | A Turkish corporate account is required (mandatory for the JSC capital deposit). Foreigners can open accounts at Garanti BBVA, Isbank, Ziraat, Yapi Kredi and Akbank; a tax number and proof of address help, and some banks want an in-person visit or use a local representative under PoA. |
| Our formation service | from around €100 to €200 (estimated). You get a fixed quote in your free plan before you commit. |
Turkey is not an EU member; it is an official EU candidate (since 1999, talks stalled) outside the EEA and EFTA, but it has a Customs Union with the EU (since 1995) giving tariff-free access for many industrial goods. It is transcontinental, with a market of more than 85 million, 100% foreign ownership, 80+ tax treaties, and free zones offering tax and VAT exemptions attractive to exporters and tech firms. The currency is the Turkish lira.
How to register a company in Turkey
The process is straightforward and, in Turkey, largely digital. In outline:
- Choose your company type and name. Most founders pick the Limited Sirket (Ltd); we confirm the name is available.
- Verify your identity. Yes. With a notarised, apostilled power of attorney to a local attorney, name reservation, tax numbers, MERSIS and trade-registry filing and the capital deposit can all be handled without travelling. Foreign investors get 100% ownership with no local partner.
- File the incorporation. Once documents are signed, registration usually completes in around 2-4 weeks.
- Open a business account and register for tax/VAT. A Turkish corporate account is required (mandatory for the JSC capital deposit). Foreigners can open accounts at Garanti BBVA, Isbank, Ziraat, Yapi Kredi and Akbank; a tax number and proof of address help, and some banks want an in-person visit or use a local representative under PoA.
We handle each step with licensed local counsel, so the paperwork, registered address and filings are done correctly the first time.
Form your Turkish company in days
Tell us where you live and what you are building. Our formation service starts from around €100 to €200 (estimated); we confirm the right structure for Turkey, give you a fixed quote, and form the company with licensed counsel.
Get your free planWho can form a company in Turkey
Founders from outside the EU can own and run a Turkish company, with the cross-border requirements handled for you. We flag any residency or local-agent rule for Turkey up front, so there are no surprises.
Turkey and the 28th Regime (EU Inc)
EU Inc, the proposed 28th Regime, would let you register one company valid across all 27 EU member states. It is not law yet (expected around 2027-2028), so a Turkish company is one of the ready options you can use today. Forming an EU company now also positions you to adopt EU Inc later, as we cover in how to prepare an EU Inc company. To weigh Turkey against other countries, see company formation in Europe.