If you’re planning company formation in Turkey, the two questions you will ask first are simple: How much does it cost? and How long does it take? The challenge is that the real answer depends on your company type (LLC vs JSC), your shareholder structure (foreign individual vs foreign entity), your office setup, and how prepared your documents are before you start the Trade Registry process.
This article explains the company incorporation process in Turkey in a practical, step-by-step way, and breaks down the typical cost items for setting up a company in Turkey so you can plan your budget and timeline realistically.
1) What Determines the Total Cost of Company Formation in Turkey?
The total cost is not a single fixed number. It usually depends on five factors:
- Company type: Limited Liability Company (Ltd. Şti.) vs Joint-Stock Company (A.Ş.)
- Shareholder profile: foreign individual vs foreign legal entity (document chain may be heavier)
- Office solution: virtual office vs physical office (and lease obligations)
- Representation: whether you use a lawyer/consultant with a power of attorney
- Compliance setup: accounting, tax registrations, payroll planning, and e-invoicing needs
A common budgeting mistake is counting only the registry fees and ignoring “launch costs” like accounting setup and operational compliance.
2) The Company Incorporation Process in Turkey (Step-by-Step)
Step 1: Choose the Company Type and Governance Model
Before any filing, decide:
- LLC (Ltd. Şti.) or JSC (A.Ş.)
- who will be manager/director and who will have signing authority
- shareholding percentages and whether you need minority protections
This step prevents later rework, because governance choices affect your Articles of Association and registry filings.
Step 2: Prepare the Document Package (Foreigners Must Be Extra Careful)
Foreign founders should prepare documents early to avoid delays. In practice, common requirements include:
- passports/IDs (and in some cases notarized translations)
- address documentation
- shareholder information (including foreign entity documents if applicable)
- draft Articles of Association
- signature declarations / specimen signatures
- powers of attorney (if using representatives)
The main principle: everything must be consistent across documents (names, addresses, titles).
Step 3: MERSIS Registration and Drafting the Articles of Association
MERSIS is the central system where incorporation data is entered and the foundation for your Trade Registry file is built. Errors here often cause the biggest delays.
At this stage you:
- enter company details in MERSIS
- draft/approve the Articles of Association
- finalize capital and share structure
- confirm representation/signing authority rules
Step 4: Trade Registry Filing and Registration
Once your file is ready, you proceed with the Turkey Trade Registry steps. After approval:
- the company is registered,
- the registration is announced in the Trade Registry Gazette (where applicable),
- corporate identity becomes official.
This is the point many people call “incorporation complete,” but operationally you still need the next steps to actually do business.
Step 5: Tax Office, Accounting Setup, and Post-Incorporation Compliance
After registration, you must set up:
- accounting and tax registration workflow,
- invoice and bookkeeping system,
- compliance calendar (monthly/quarterly filing discipline),
- payroll and social security registration if you will hire employees,
- corporate books and decision templates for proper record-keeping.
Skipping or delaying this step can create penalties and operational blocks.
Step 6: Corporate Bank Account and KYC
For foreign-owned companies, banking can take time because banks conduct enhanced KYC checks. Your process will be smoother if:
- beneficial ownership is clearly documented,
- your business model is clear and supported by contracts/invoices,
- all registry/tax documents match exactly.
Banking is often the last “activation step” before the company can operate normally.
3) Typical Cost Items for Setting Up a Company in Turkey
Below is a practical cost map. Exact figures vary, but these are the categories you should budget for:
A) Incorporation and Registry Costs
- Trade Registry filing fees
- chamber/registry charges (where applicable)
- notary costs (signatures, declarations, translations)
- official announcements/publication costs (where applicable)
B) Documentation Costs for Foreign Shareholders
- notarized translations (passport, corporate documents)
- apostille/legalization for foreign corporate documents (if required)
- courier and document handling costs
C) Office and Address Costs
- virtual office service fees (if used)
- physical office rent and deposit (if used)
- utility setup (depending on the arrangement)
D) Professional Fees
- lawyer/consultant fee (if you use external support)
- accounting setup fee and monthly accounting costs
E) Ongoing Compliance and Operational Costs (Often Forgotten)
- payroll and social security costs if employing staff
- e-invoice / e-archive setup if needed for your activity
- corporate book certifications and annual corporate formalities
Practical note: For many foreign founders, the largest surprise is not the registry fee—it’s the post-incorporation compliance and banking friction if documentation is not prepared properly.
4) Timeline: How Long Does It Take to Register a Company in Turkey?
The timeline is mostly driven by readiness and document complexity:
- Fast case: all documents ready, clean filings, smooth banking
- Typical case: minor document revisions, registry back-and-forth, banking review
- Slow case: foreign entity document chain, inconsistencies, missing translations, or unclear beneficial ownership
The best way to speed up your timeline is to prepare a complete document package first and keep all information consistent across MERSIS, registry, tax, and banking documentation.
5) How to Reduce Cost and Time Without Increasing Legal Risk
If you want the most efficient setup:
- choose the correct company type from the start (avoid restructuring costs),
- keep governance and signing authority simple but safe,
- avoid last-minute translations and missing apostilles,
- build a compliance calendar immediately after incorporation,
- prepare banking documents early.
Saving money by skipping legal structure planning often costs more later.
FAQ
Is it expensive to set up a company in Turkey?
It can be affordable compared to many jurisdictions, but the total cost depends on company type, document preparation, office setup, and professional support needs.
What is the biggest source of delays?
Inconsistent or incomplete documents (especially for foreign shareholders) and banking KYC requirements.
Can foreigners incorporate a company remotely?
In some cases, yes—often through representation and properly prepared documents. The feasibility depends on document readiness and compliance planning.
Final Note
A successful company setup in Turkey is not just registry approval—it’s a complete launch plan: correct company type, clean documents, clear signing authority, tax/accounting readiness, and banking preparation. If you plan these as one process, you can reduce both cost and time while staying legally safe.
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