If you are planning company formation in Turkey, you should budget for more than just Trade Registry fees. The true cost of setting up a company in Turkey includes incorporation expenses, foreign-document formalities, office/address costs, professional fees, banking/compliance setup, and the first months of ongoing obligations.
This guide breaks down the typical cost items for Turkey company registration, helping foreign founders and investors plan realistically and avoid surprise expenses.
1) Cost Category A: Trade Registry and Incorporation Fees
These are the direct “incorporation” costs that arise during registration:
- Trade Registry filing fees and registry-related charges
- Chamber-related costs (where applicable)
- Signature declarations / specimen signatures
- Notary costs for corporate paperwork
- Official announcement/publication costs (where required)
Practical note: These costs depend on the company type (LLC vs JSC), the number of shareholders, and how many documents must be notarized.
2) Cost Category B: Notary, Translation, Apostille/Legalization (Foreigners’ Biggest Surprise)
For foreign shareholders (individuals or foreign entities), the file often requires extra formalities:
- sworn translations (passports, corporate docs)
- notarization of translations
- apostille/legalization for foreign documents (where required)
- courier and document handling costs
- power of attorney (if incorporation is done via representatives)
This category is a major driver of cost and delay when documents are incomplete or inconsistent.
3) Cost Category C: Minimum “Launch” Costs (Before You Earn a Lira)
Even after registration, you may need upfront payments to become operational:
- accounting firm onboarding/setup fee
- e-invoice/e-archive setup (if applicable)
- company seal/stamp and internal admin costs
- initial stationery/official book arrangements (where required)
- internal templates (contracts, resolutions) if supported by a lawyer
Many founders budget only for registration and forget these activation costs.
4) Cost Category D: Office and Address Costs (Virtual vs Physical)
Your address solution changes your cost profile immediately:
Virtual office route
- monthly/annual service fee
- mail handling / meeting room add-ons (optional)
Physical office route
- rent + deposit
- utilities and setup costs
- furnishing/basic operational expenses
Practical note: Some activities are smoother with a physical office due to banking, inspections, or sector expectations.
5) Cost Category E: Professional Fees (Legal + Accounting)
These vary widely depending on complexity, but typically include:
- lawyer/consultant incorporation support
- shareholders’ agreement drafting (if multi-partner)
- signing authority and governance structuring
- monthly accounting and tax filing service
- payroll services if hiring staff
If you are foreign-owned, paying for clean structure and documentation usually reduces risk and saves money later.
6) Cost Category F: Banking, KYC, and Compliance Friction
Banking is not always “a cost line,” but it can generate indirect costs and delays:
- time and document preparation for KYC/beneficial owner checks
- extra notarizations or certified copies requested by banks
- compliance remediation if invoices/contracts are missing
If your ownership chain is complex, budget for extra document preparation.
7) Cost Category G: First-Year Ongoing Costs You Must Include in Your Budget
A realistic budget includes the “staying alive” costs:
- monthly accounting/tax compliance
- employer-side payroll/SGK costs (if you employ staff)
- annual corporate formalities and recordkeeping
- potential audit/compliance costs depending on sector and scale
Rule: If you don’t include the first 3–6 months of compliance costs, your budget is incomplete.
8) How to Reduce Costs Without Increasing Legal Risk
- Prepare foreign documents early (apostille/translation plan)
- Keep names/addresses consistent across all documents
- Choose the company type aligned with your next 12–24 months (avoid restructuring)
- Use a clear signing authority matrix (reduces operational mistakes)
- Build a compliance calendar on day one (reduces penalties and “fix costs”)
Cheap incorporation becomes expensive when it creates delays, penalties, or investor-unfriendly governance.
FAQ
Is it cheaper to set up an LLC or a JSC in Turkey?
It depends on structure and needs. LLCs are often simpler for small operations, while JSCs may reduce future restructuring costs if investment is planned.
What’s the most common “hidden cost” for foreigners?
Document formalities (translation, notarization, apostille) and post-incorporation compliance setup.
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