1. Minimum capital
Capital is the largest number on the list, but it is not money you lose. It is paid into the company's bank account and can be spent on rent, salaries and other business costs once the company is registered.
| Limited company (Ltd. Şti.) | Joint stock company (A.Ş.) | |
|---|---|---|
| Minimum capital | TRY 50,000 | TRY 250,000 (TRY 500,000 under the registered capital system) |
| When it must be paid | Within 24 months of registration | At least 25% of cash capital before registration; the rest within 24 months |
For most small and mid-sized foreign investors, a limited company keeps the upfront capital low. A JSC makes sense for larger investments or when shares will change hands often.
2. One-off set-up costs
The exact amounts change every year, so treat this as a checklist rather than a price list.
| Cost item | What drives it |
|---|---|
| Documents prepared abroad | Notarisation, apostille and sworn translation of passports, powers of attorney and parent company documents |
| Tax numbers for foreign shareholders | Free at the tax office; time is the main cost |
| Notary fees | Signing of articles of association (if not signed at the trade registry), signature declarations, powers of attorney |
| Trade registry and gazette | Registration and publication in the Trade Registry Gazette |
| Competition Authority fee | 0.04% of the company's capital |
| Statutory books and e-ledger | Certification of books; e-signature and e-invoice / e-ledger set-up |
| Adviser fees | Legal and accounting support for the full process |
3. Monthly running costs
The real long-term cost of a Turkish company is compliance. Every company files something almost every month, even if it has no revenue yet.
Accounting and tax filings: monthly VAT and withholding returns, quarterly advance tax, annual corporate tax return.
Registered address: an office, co-working space or a virtual office that meets tax office requirements.
Payroll and social security: if you employ staff, including the director if they are on the payroll.
Bank and e-invoice services: account fees and the e-invoice provider.
Taxes: corporate tax at 25% on profits, with a 10% domestic minimum tax.
4. How long does it take?
Registration itself can be completed in a day once documents are ready. In practice, most foreign investors should plan for one to three weeks: preparing and apostilling documents abroad and opening the bank account take the longest.
5. How to keep costs down
Choose the right entity first; converting later costs more than choosing well.
Prepare all foreign documents in one batch to avoid repeat apostille and translation fees.
Use a power of attorney so you do not need to travel.
Agree a fixed monthly fee for accounting and payroll from day one.
Frequently asked questions
Do I get the capital back?
The capital belongs to the company. It can be spent on business expenses; it is not a fee paid to the state.
Can I set up a company with less than TRY 50,000?
No. TRY 50,000 is the legal minimum for a limited company, but it does not all have to be paid on day one.
Is a branch cheaper?
A branch has no minimum capital, but the foreign parent must provide more documents and a resident branch manager, and the parent remains liable for the branch.
Get a fixed quote.
Our Legal and Accounting teams can give you a fixed price for set-up and monthly compliance.
This page provides general information and is not legal or tax advice. Every situation is different; talk to us before you act.