Would you like to open an LTD (LLC) in Turkey and need specialized assistance? This article provides the information you need. Please explore the following lines and then access our online services and talk to our Turkish agents for in-depth support.
| Quick Facts | |
|---|---|
| Best suited for | Small or medium-sized businesses |
Minimum share capital | TRY 50,000 |
Residency requirements to open LTD (YES/NO) | NO |
| Minimum shareholders | 1 |
| Incorporation time | 2-4 weeks (approx.) |
| Company secretary required (YES/NO) | NO |
| Corporate income tax rate | 25% |
| VAT registration | Mandatory for businesses offering taxable services/supplies |
| General required documents for company incorporation | – Articles of Association, – proof of deposited capital, – ID documents of shareholders/directors, – proof of address, etc. |
| Legal framework for LTDs | – Turkish Commercial Code, – Turkish Code of Obligations, – Turkish Labor Law |
| Bank account required for shared capital (YES/NO) | YES |
| Special permits and licenses | Industry-specific (healthcare, hospitality, finance, construction, etc.) |
| Virtual office possibility (YES/NO) | YES |
| General steps for LTD company formation | – select business name, – submit documents to Trade Registry Office, – obtain Tax Identification Number and Commercial Registration Certificate, – register with Chamber of Commerce, etc. |
| Assistance | Our team can assist in opening a company in Turkey and guide entrepreneurs in every incorporation step. |
What is an LTD in Turkey?
LTD is the limited liability company in Turkey, the most popular business option among international businessmen.
How is an LTD known in Turkey?
Limited Şirket / Ltd. Şti.
Do I need a local partner to open an LTD in Turkey?
No.
How many shareholders can open an LTD in Turkey?
At least one.
We have also created a scheme with the main advantages of setting up an LLC in Turkey:
Do I need a local partner to incorporate an LTD in Turkey?
No need.
Do I need to have residency in Turkey to set up an LTD?
No.
What is the minimum share capital for an LTD in Turkey?
TRY 50,000.
NOTE: The minimum share capital for an LTD in Turkey can be deposited within a minimum of 24 months from the date the company is registered.
We invite you to watch a short video about opening a limited liability company in Turkey:
What are the main conditions for opening an LLC in Turkey?
- ensure a registered business address for an LTD in Turkey,
- draft the Articles of Association,
- appoint a manager (he or she can be one of the shareholders),
- present notarized passports or IDs,
- get the Tax Identification Number (TIN) if you are a foreigner starting an LTD in Turkey,
- open a corporate bank account in Turkey,
- submit the documents to the Chamber of Commerce,
- pay the administrative fee,
- register for taxation and social security,
- obtain the company seal after the certificate of Incorporation is issued.
NOTES:
- virtual offices are also permitted when setting up an LTD in Turkey,
- foreign managers appointed to an LTD must obtain a residence permit first,
- one of our Turkish agents can act as LTD representative via power of attorney.
Are digital signatures accepted in Turkey? Can I use one as an LTD owner?
Yes, it is permitted to use an electronic signature when opening an LTD in Turkey.
Can I set up an LTD in Turkey in any business sector?
You cannot open an LTD in banking, finance, and insurance sectors, as another business structure is recommended.
Can I open more than just one LLC in Turkey?
Yes. Specific conditions might apply.
Can I manage various assets while owning an LTD in Turkey?
Yes, you can own and manage:
- real estate properties,
- intellectual property,
- equipment & vehicles,
- financial assets,
- investment portfolios, etc.
What are the benefits of a Turkish LTD?
- flexibility,
- fast incorporation,
- 100% foreign ownership,
- protection of double tax treaties signed by Turkey,
- path to residency in Turkey under certain conditions, etc.
Are there any precautions or recommendations when opening an LLC in Turkey?
- one must also appoint/work with a Certified Public Accountant (CPA) in Turkey when opening an LTD,
- one should attentively navigate through employment matters and bureaucratic topics and avoid possible legal issues,
- obtain the proper business license before commencing the activities in Turkey.
What is the time frame to open an LTD in Turkey?
Around 3-10 business days.
How can you help me in setting up an LTD in Turkey?
Our company formation services in Turkey consist of:
- drafting and submitting the documents,
- register the LTD for taxation,
- open a bank account,
- deal with immigration matters when hiring foreign staff, and many more.
IMPORTANT: We can represent our customers with the relevant local authorities.
If you want to set up a company in Turkey, please contact our local consultants. Our representatives assist you during the incorporation procedure of limited liability companies, also in other European countries, such as Spain, Ukraine, or Sweden.