How to Set Up a FinTech Company in Türkiye: A Lawyer’s Practical Guide (2026)
Launching a fintech is not “just” incorporating a company and building an app. In Türkiye, your business model determines your regulator, licensing burden, compliance costs, and even your product roadmap. As counsel, the fastest way I help founders reduce risk is to structure the company around the correct regulatory perimeter from day one—so you don’t discover (too late) that your MVP is actually a licensed financial service.
Below is a practical, founder-friendly legal guide to forming a fintech company in Türkiye, with an emphasis on payment services, electronic money, and crypto-adjacent models, where enforcement and AML scrutiny are increasing.
1) Start With the Legal Perimeter: What Kind of FinTech Are You?
Before you pick a name or issue shares, map your product into one (or more) categories:
A) Payments / Money Movement
If you provide payment services (e.g., initiating transfers, payment processing, card-related services, money remittance), you may fall under Law No. 6493 (Payment Services & E-Money framework).
B) Electronic Money (E-Money / Wallet)
If you issue stored value that users can spend/transfer (i.e., an e-wallet issuing “electronic money”), you typically need an electronic money institution authorization under the same framework.
C) Crypto / Virtual Assets (Compliance-Heavy)
Even where sector-specific licensing questions can be nuanced, AML/CFT obligations for crypto-related services have been tightened and are closely monitored. Enforcement focus has increased, and Türkiye’s international AML posture remains sensitive.
D) “Non-Regulated” FinTech (Still Heavily Contract + Data + AML)
SaaS for reconciliation, invoicing, credit analytics, embedded finance enablers, KYC tools, fraud scoring—may be non-licensed if you do not touch funds and do not perform regulated activities. But you still need strong contracting, data protection, cybersecurity, and AML-risk controls.
Lawyer tip: If your flow diagram includes: holding customer funds, pooling funds, issuing stored value, executing transfers, or onboarding merchants into payment acceptance, you should assume you may be in 6493 territory until proven otherwise.
2) Choose the Right Corporate Vehicle (and Make It Investor-Ready)
Most fintech startups choose:
- Limited Şirket (Ltd. Şti.): simpler governance, lower setup friction, commonly used for early stage.
- Anonim Şirket (A.Ş.): preferred for institutional investment, option pools, more flexible share classes (in practice), and often smoother for growth financing.
Investor-facing basics to implement early:
- clean cap table
- founders’ vesting / reverse vesting mechanics (contractual)
- IP assignment (employees + contractors)
- confidentiality + invention clauses
- board/management decision rules (especially if you expect regulated status later)
3) Licensing Strategy Under Law No. 6493 (Payments & E-Money)
Türkiye’s payment services and electronic money regime is structured under Law No. 6493, with authorization and supervision powers concentrated at the Central Bank (TCMB) for many payment/e-money actors (within the framework).
Payment Institution vs. Electronic Money Institution
- A payment institution provides payment services.
- An electronic money institution can issue e-money and may also provide certain payment services within its authorization scope.
Practical point: The TCMB publicly lists authorized electronic money institutions and their license scopes—use this as a reality-check benchmark for what regulators consider “licensed.”
Product Design to Avoid “Accidental Licensing”
If you are pre-license (or choosing not to be licensed), design architecture such that:
- you do not hold customer funds
- money movement is handled by a licensed partner (bank/authorized provider)
- you operate as a technology provider/agent, not the principal financial service provider
This is feasible—but only if contracts, customer journey, and fund flows are consistent.
4) AML/CFT (MASAK) Is Not Optional—Build It Into the Company DNA
Fintechs are high-risk from an AML perspective. MASAK rules and expectations have expanded, including categories relevant to crypto asset service providers and broader obligations across financial actors.
Why founders should care: AML is where you can lose banking relationships, payment partners, and investor confidence—fast. Recent reporting also highlights increased enforcement focus and international scrutiny dynamics.
Minimum AML foundation (even at MVP stage)
- documented risk assessment (customer, product, channel, geography)
- KYC/verification standards and escalation policy
- suspicious transaction monitoring rules + audit trails
- sanctions/PEP screening approach
- record retention and reporting workflow
- training + accountable compliance owner
5) Data Protection & Cybersecurity: Your Silent Deal-Killers
Fintechs process sensitive personal and financial data. Even if you are not licensed, you’ll be judged on:
- consent/processing grounds
- cross-border data transfers
- vendor/sub-processor governance
- incident response and breach notification readiness
- encryption, logging, access controls, segregation of duties
Lawyer tip: Your first enterprise or bank partnership will almost always include a deep security and privacy annex. If you build these policies after the fact, you’ll slow down deals.
6) Key Contracts You Should Not Postpone
A fintech is a contract business as much as a product business. The following are typically mission-critical:
Customer terms (B2C / B2B)
- clear service description (avoid “licensed language” unless you are licensed)
- limitation of liability crafted for financial harm claims
- dispute resolution and notification procedures
- chargeback/refund logic (where relevant)
- AML/KYC cooperation clauses
Partner agreements (banks, PSPs, EMIs, card programs)
- responsibility matrix (who holds funds? who onboards? who monitors fraud?)
- settlement and reconciliation rules
- data sharing + confidentiality
- audit rights and incident obligations
- termination triggers tied to compliance events
IP and software development
- assignment of source code, inventions, and documentation
- open-source policy (to avoid license contamination)
- escrow/continuity planning for critical code (in mature relationships)
7) Tax, Employment, and Corporate Hygiene (The “Boring” Part That Saves You)
Founders often underestimate corporate discipline. In fintech, poor housekeeping becomes expensive during:
- investor due diligence
- licensing applications
- banking/processor onboarding
- M&A or strategic partnership negotiations
Baseline hygiene checklist
- proper board/shareholder resolutions
- clean bookkeeping and invoicing logic (esp. transaction fee models)
- compliant employment contracts (confidentiality + IP + non-solicit)
- contractor controls (avoid disguised employment risks)
- brand/trademark filings early (fintech naming conflicts are common)
8) A Practical Roadmap for Founders (Lawyer-Style)
Phase 1 — Model & Risk (1–3 weeks)
- map fund flows and user journeys
- determine licensing perimeter (or design around it)
- pick company type (A.Ş. vs Ltd.)
- confirm founders’ IP ownership and assignments
Phase 2 — Formation & Core Documentation (2–6 weeks)
- incorporation + cap table
- employment/contractor suite
- privacy/cookie policies + security baseline
- customer terms + partner term sheets
Phase 3 — Compliance & Scale (ongoing)
- AML program maturity
- audits, logs, monitoring
- regulator/partner readiness (if entering 6493 authorization route)
- data governance and incident response drills
9) Common Mistakes I See (and How to Avoid Them)
- Building a wallet first, then learning it’s regulated.
Fix: design with licensed partners or pursue authorization early. - Treating AML as paperwork.
Fix: AML is operational—monitoring, escalation, evidence, reporting. - Ambiguous roles in partner contracts.
Fix: define who is “principal,” who holds funds, who does KYC, who is liable. - Data transfers and vendors unmanaged.
Fix: vendor DPAs, security annexes, and a real sub-processor inventory. - Weak IP chain of title.
Fix: assign IP from day one; investors will ask.
SEO Snippets (Ready to Use)
Suggested SEO Title:
How to Start a FinTech Company in Türkiye (2026): Legal & Licensing Guide for Founders
Meta Description (155–160 chars):
A lawyer’s guide to forming a fintech in Türkiye: company setup, 6493 licensing, AML/MASAK compliance, contracts, and data protection essentials.
Target Keywords:
start a fintech in Turkey, fintech company formation Turkey, Law No. 6493, payment institution Turkey, electronic money institution Turkey, MASAK AML fintech, fintech legal guide Turkey
Quick FAQ
Do I always need a license to start a fintech in Türkiye?
No. If you don’t perform regulated payment/e-money activities and don’t touch customer funds, you may operate as a technology provider—but you still need strong contracts and compliance design.
What is the main legal framework for payment and e-money models?
Law No. 6493 is the backbone for payment services and electronic money institutions.
Is AML really that important for early-stage fintech?
Yes—banks, PSPs, and investors treat AML readiness as a gating item, especially amid increased scrutiny.
Yanıt yok