The main company types in Turkey are

• - Joint Stock company
• - Private Limited company
• - Commandite and Collective Companies
• - Liaison Office
• - Branch in Turkey

A) JOINT-STOCK COMPANY

• - To establish a Joint-Stock Company in Turkey need To be formed by at least 5 share holders (natural person or legal entity)
• - The capital of the Joint-Stock Company has To be minimum 50.000 TL
• - The Founders Nationality is Free
• - The capital and the shares has To be defined at the Articles of Association
• - The Joint-Stock Company field of activities and the name has To defined at the AoA
• - All the procedures have To be done in a legally defined and limited period
• - All documents and statements described should be submitted To the Trade Registry Offices located at the province where the company will be established
• - Statutory obligation for private entities To be a member of a chamber relevant To their activity and region. In Istanbul the authorized one is the ‘ Istanbul Chamber of Commerce’’

B) PRIVATE LIMITED COMPANY

• - To establish LTD company in Turkey need To be formed by at least 2 partners (natural or legal persons)
• - The capital of the LTD has To be minimum 5.000 TL
• - Each partner (share holder) should own minimum 25 TL or the multiples of 25 TL
• - The Founders Nationality is Free
• - The partners of the LTD company have a limited liability with the share capital except for tax liabilities
• - All the procedures has To be done in a legaly defined and limited period

C) BRANCH OFFICE

• - Foreign Companies can open branches in Turkey
• - To form a Branch need an approval from the Ministry of Industry and Commerce
• - The legal status of the Branch is a Foreign Entity
• - The Capital dividends inTo shares are the capital requirement and no independent Branch Capital required
• - The legal liability is owned by Parent Company
• - Parent company has To assign a Branch Director with full representation and accountability

D) LIAISON OFFICE

• - Foreign Companies can promote their business by a Liaison Office in Turkey
• - The Liaison Office cannot carry out any activity To generate revenue in Turkey
• - All expenditures of a liaison office must be met entirely from foreign currency brought in Turkey from abroad
• - Liaison Office depend on a Permission, which has To be renewed after the granted period
• - Parent company has To assign a Liaison Office Director with full representation and accountability
• - no company tax obligations

According To the current Turkish Trade Law and principles basic points for foreign Capital To establish company in Turkey:

• - Αny type of company can be incorporated just in few days
• - Any Foreign real person or legal entity with foreign capital could establish any type of company in Turkey
• - no limitation (except regulated sectors) for a foreign investor (either is foreign person or company registered outside Turkey or foreign legal entity) To establish a company in Turkey
• - The foreign investor could set up any type of company in Turkey without the need of Turkish partner
• - All type of entities could be set up without the need of official permit. Only limited type of companies are subject To permit from Ministry of Industry and Trade for their foundations
• - All documents and statements required for establishment should be submitted to the Trade Registry Offices located at the province where the company will be established
• - All documents have To be in Turkish or Translated, Notarized and with Apostille
• - It’s a statutory obligation for private entities To be a member of a chamber relevant To their activity and region
• - The registration of the company has To be done at (ITO) Istanbul Chamber of Commerce in 15 days from the notarization date of the AoA
• - In case of residing and work of the foreigner in Turkey, Stay and Resident Permit shall be obtained

Limited Liability Company (LTD)

• - To establish LTD company in Turkey need To be formed by at least 2 partners (natural or legal persons)
• - The capital of the LTD has To be minimum 5.000 TL
• - Each partner (share holder) should own minimum 25 TL or the multiples of 25 TL


• - The capital and the shares has To be defined at the Articles of Association
• - The LTD field of activities and the name has To defined at the AoA
• - The LTD operation period has To defined
• - The location of the company has To be defined and approved with lease agreement or title deed of office
• - All the procedures has To be done in a legaly defined and limited period
• - All documents and statements described here below should be submitted To the Trade Registry Offices located at the province where the company will be established
• - Statutory obligation for private entities To be a member of a chamber relevant To their activity and region. In Istanbul the authorized one is the ‘ Istanbul Chamber of Commerce’’
• - All document provided from abroad have To be stamped with Apostille. (Stamp of Convention de La Haye)

Required documents and procedures for LTD establishment with foreign capital and Register the Company To Trade Register Office and Publish the AoA at the Trade Registry Gazette

• - Power of Attorney To the Lawyer, in Turkish,
• - In case that only one of the partners will be engaged with the establishment issues
Power of Attorney from the inactive partner To the partner representative
• - Preparation of ‘Articles of Association’ in Turkish
• - Notarization of AoA
• - Translated and notarized passport of the foreign founders, representatives and GM
• - Notarized Lease Agreement of the Office
• - Notarized Corporate name acknowledgement
• - List of Authorized Signatures of the Partner and General Manager
• - Specimen signature under the corporate name certificate of the Partner and General Manager
• - PhoTo of partners
• - Letter of Commitment
• - Chamber Registration Statement bearing the phoTo of the authorized person
• - Petition
• - Establishment Notification form
• - Bank receipt of the initially mandatory deposit, amounting To 0.04% (4/10,000) of the company capital

The registration of the company has To be done at (ITO) Istanbul Chamber of Commerce in 15 days from the notarization date of the AoA.