Setting up a foreign-owned company in Türkiye follows the same rules as for Turkish citizens: Foreign Direct Investment Law No. 4875 guarantees equal treatment for foreign investors. The differences come from documents, translations and permits. Besides Turkish, meetings can be held in English (Erkan Kodalak) and Arabic (Naser Al Ameri).
Process: from first meeting to first invoice
| Step | What happens? | Approx. time |
|---|---|---|
| 1. Initial meeting | Activity, shareholding, capital, work permit needs | 1 day |
| 2. Tax number | From the tax office with a passport for foreign individual partners; with registry documents for foreign corporate partners | 1–2 days |
| 3. Preparing documents | Notarised translation of passports and company documents; apostille or consular legalisation for documents issued abroad | 3–10 days |
| 4. Company formation | Articles in MERSİS, trade registry registration. Limited company formation · Formation cost | 1–3 days |
| 5. Bank account and capital | Corporate account; capital brought in foreign currency must arrive through a bank | 3–15 days |
| 6. Tax and SGK registration | Tax office inspection, e-Notification, registered e-mail (KEP), e-Invoice | 1–7 days |
| 7. Permits | Workplace licence, sector permits. Permits and licences | Depends on activity |
| 8. Work and residence permits | For foreign partners or employees. Work permits | 30–60 days |
What foreign partners should know
- Minimum capital: TRY 50,000 for a limited company, TRY 250,000 for a joint stock company. However, for a foreign partner to get a work permit, the company's paid-in capital and the partner's share must be at least TRY 500,000 and the shareholding at least 20% (exemption for capital of USD 100,000 or more).
- Residence: the company manager need not live in Türkiye, but in practice a power of attorney or a resident signatory is needed for signatures, banking and official correspondence.
- Foreign Capital Information System: foreign-owned companies report annual activity and capital information to the Ministry of Industry and Technology.
- Profit repatriation: dividends distributed after corporate tax (25%) are subject to 15% withholding; the rate may be lower under a double tax treaty with the relevant country. Dividend tax · Dividend calculator
- Foreign currency: contracts between Turkish residents are restricted in setting prices in foreign currency (legislation on protecting the value of the Turkish currency). We draft lease and service contracts accordingly. Current rates: currency converter.
Employing foreign staff
Tax and SGK premiums for a foreign employee are the same as for a Turkish one, but the work permit requires a salary of 1 to 5 times the gross minimum wage depending on the occupation. Cost examples: Cost of employing foreign staff · Salary calculator
Working remotely
We work with most investors living abroad by e-mail, video call and WhatsApp; notary and translation work is done through notaries and sworn translators in Türkiye. Thanks to e-Ledger, e-Returns and e-signature, matters can be followed remotely regardless of the company's province.
FAQs
Can I set up a company without a residence permit? Yes. Being a partner or manager does not require a residence permit; the tax number is obtained with a passport.
Does setting up a company give me a residence permit? Being a partner does not by itself give a right of residence. A business residence permit is assessed by the migration authority based on the company's activity and employment; a work permit replaces a residence permit.
Can contracts be in Arabic or English? Documents filed with the trade registry must be in Turkish. Agreements between partners can be bilingual; the contract should state which text prevails in a dispute.