Would you like to know what types of companies are available in Turkey? You can read this article and explore the key features of the most important business entities. Reach out to our Turkish specialists in company formation and solicit our services for incorporation.
| Quick Facts | |
|---|---|
| Types of companies/legal entities available in Turkey | – limited liability company, – joint stock company, – general or limited partnership, – joint venture, – branch, – subsidiary, – cooperative, – collective company, etc. |
The most common type of structure in Turkey | Limited liability company (LTD) |
Legislation | Turkish Commercial Code |
| Minimum share capital for LTD | TRY 5,000 |
| Minimum share capital for a joint stock company in Turkey | TRY 50,000 |
| Legal representative required | Not mandatory, but recommended |
| The most important document for company formation in Turkey | The Articles of Association |
| Can you open a liaison office in Turkey? | Yes, foreign companies can be represented in Turkey through a liaison office. Commercial activities are prohibited. |
| Shelf companies available in Turkey (YES/NO) | YES |
| Partnerships available in Turkey | Can be registered by at least two partners. A partnership agreement must be signed. |
| Branch incorporation in Turkey | A declaration to open a branch in Turkey must be issued by the foreign company. |
| Tax registration required (YES/NO) | YES |
| Business license needed in Turkey | Depending on the activities of the future company in Turkey |
| Accounting services for companies in Turkey | Recommended regardless of the type of company incorporated in Turkey |
| How can our local Turkish agents help you? | – drafting the documents, – registering with the relevant authorities, – legal representation, – tax registration, – application for a business license, and more |
What is the legislation on companies in Turkey?
Turkish Commercial Code (TCC) No. 6102.
What types of companies are available in Turkey?
- Limited liability company,
- Joint stock company,
- Sole proprietorship,
- Collective company,
- Cooperative company,
- Limited & general partnership, etc.
What is the most popular business structure in Turkey?
The limited liability company (Ltd. Şti.). The joint stock company (AS) is also commonly used by foreign and local investors in Turkey.
The types of companies in Turkey are presented in the infographic below:
What is the minimum share capital for an LLC in Turkey?
TRY 50,000.
What is the minimum share capital for a joint stock company in Turkey?
TRY 250,000.
Can branches be established in Turkey? What about subsidiaries?
Both options are available in Turkey. You may read about these options here and here.
Are ready-made companies available for purchase in Turkey?
Yes. We have a dedicated article here.
Are liaison offices available in Turkey?
Yes, this structure is also known as a representative office in Turkey.
We can also help you if you need accounting in Turkey or if you want to open a company in a free zone in Turkey.
You can also watch our video on the types of companies in Turkey:
What are the conditions to open an LLC in Turkey?
Opening a limited liability company is simple and fast. Here are a few steps involved in the process:
- appoint a local representative (our Turkish agents can serve),
- ensure a registered business address in Turkey,
- verify and reserve a unique business name with the Turkish Trade Register,
- draft the Articles and Memorandum of Association,
- open a Turkish bank account and deposit the minimum share capital,
- register for taxation and obtain the ID, etc.
NOTE: Ensure all documents are translated into Turkish and notarized before submission to the Trade Registry Office.
Are holding companies available in Turkey? Are these popular business options?
Yes, holding companies are available in Turkey and are quite popular among international entrepreneurs. These can be incorporated as joint stock companies.
What types of partnerships are available in Turkey?
General and limited partnerships are great business options for foreign entrepreneurs. These types of partnerships can be structured through specific agreements.
Is a sole trader a good option for business in Turkey?
Yes, because it is the simplest business form available in Turkey. Freelancers and small entrepreneurs can choose this entity and handle all business matters, including debts.
Are there any precautions to consider when opening companies in Turkey?
- it is recommended to maintain separate business accounts from personal ones,
- opt for business insurance policies in Turkey and protect your company from any risk,
- make sure you work with a specialist in the field (such as our specialists in company formation in Turkey) to benefit from a fast business start on the market,
- as a first-time businessman in Turkey, select the type of company that best suits your needs & projects.
Foreign investors interested in company types in Turkey can call our local representatives, who will provide additional information about company registration, as well as in other European countries, such as Spain, Sweden, and Ukraine. Also, business people interested in opening a Singapore company or in setting up a Hong Kong company can be put in contact with our partners.