Setting up a business in Türkiye: Limited, A.Ş., capital and permits
A foreigner may own 100% of a Turkish company. The most common form is the Limited Şirket (Ltd. Şti.). The company is liable to corporate tax (Kurumlar Vergisi).
To work in your own company you still need a separate work permit (çalışma izni, Law No. 6735, Ministry of Labour); ownership alone does not grant the right to work.
Forms and capital
| Form | Minimum capital | Note |
|---|---|---|
| Limited Şirket (Ltd. Şti.) | TRY 50 000 | most common |
| Anonim Şirket (A.Ş.) | TRY 250 000 | share-based |
| Foreign shareholding | up to 100% | permitted |
| Registration system | MERSİS | central registry |
| Work permit | separate application | Ministry of Labour |
Steps
- Get a tax number as the founding individual.
- Choose the form (Ltd. Şti. / A.Ş.), draft the articles, pay in the capital.
- Register through MERSİS and the trade registry.
- Complete the corporate-tax and taxpayer registration.
- Open a company account at a BDDK-supervised bank.
- Apply for the work permit to run the business.
Other forms: free zones and a foreign company's branch
- free zone (serbest bölge) — partial tax and customs exemptions; registered via MERSİS; details to be verified;
- branch of a foreign company (şube) — not a separate legal entity, entered in the trade register, the parent company is liable;
- liaison office (irtibat bürosu) — no commercial activity, requires permission;
- sole proprietorship (şahıs şirketi) — simpler for a freelancer, but personal liability.
Frequent questions
- Can I own 100% as a foreigner?
- Yes, except in certain sector restrictions, a foreign individual may own a company outright.
- How much is the minimum capital?
- TRY 50 000 for a Limited Şirket and TRY 250 000 for an A.Ş. under the current rules.
- Can I work if I own the company?
- No, a foreign owner needs a separate work permit to work.
- Where is it registered?
- Through MERSİS and the relevant trade registry office.
- What is the tax rate?
- Company profit is subject to corporate tax; check the current rate and exemptions with the GİB.
Minimum capital and tax rates change by decree — for binding figures see Mevzuat, GİB and MERSİS.