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Complete guide: entity types, registration, costs, taxes, labor laws, and break-even analysis
~21 days
Setup Time
~$850
Setup Cost
25%
Corporate Tax
100%
Foreign Ownership
#33
Ease of Business
| Entity | Min Capital | Foreign % | Liability | Min Shareholders | Best For |
|---|---|---|---|---|---|
Limited Liability Company Limited Sirket (Ltd. Sti.) | 10,000 TRY | 100% | Limited | 1 | Most popular for SMEs and foreign investors - flexible, limited liability |
Joint Stock Company Anonim Sirket (A.S.) | 50,000 TRY | 100% | Limited | 1 | Larger enterprises, companies planning IPO, sectors requiring A.S. structure |
Branch Office Sube | None | 100% | Unlimited | 0 | Foreign companies establishing operations - parent company bears full liability |
Liaison Office Irtibat Burosu | None | 100% | Unlimited | 0 | Market research and promotion only - cannot engage in commercial activities |
Obtain Tax ID for Foreign Founders
Apply for a Turkish tax identification number (vergi numarasi) at the local tax office
1-2 days
Free
Tax Office (Vergi Dairesi)
Prepare Articles of Association
Draft the company's articles of association (ana sozlesme) compliant with Turkish Commercial Code
2-5 days
~$300
Legal Advisor
Deposit Capital at Bank
Deposit at least 25% of the declared capital at a Turkish bank (remaining within 24 months)
1-3 days
Free
Commercial Bank
Register at Trade Registry
File articles and supporting documents at the local Trade Registry Office (Ticaret Sicil Mudurlugu)
1-3 days
~$400
Trade Registry Office
Notarize Company Books
Have the mandatory company books (journal, ledger, inventory) certified by a notary public
1-2 days
~$150
Notary Public
Register at Tax Office and Obtain VAT Number
Register the company at the local tax office for corporate tax and VAT obligations
1-3 days
Free
Tax Office (Vergi Dairesi)
Register with Social Security (SGK)
Register the company and employees with the Social Security Institution
1-3 days
Free
SGK (Sosyal Guvenlik Kurumu)
$520/mo
Minimum Wage
$900/mo
Average Wage
45 hrs/week
Work Hours
14 days/year
Paid Leave
4.3 weeks/year
Severance
20.5% of salary
Employer Social Security
14% of salary
Employee Social Security
Required
Foreign Worker Permit
Foreign Worker Quota: Foreign employees generally cannot exceed ratio thresholds. Work permits tied to employer.
Work Permit Process: Employer applies through the Ministry of Labor e-devlet portal. Processing typically 4-6 weeks. Permit valid 1 year initially.
#33/190
Ease of Business Rank
7 days
Starting a Business
5 days
Registering Property
580 days
Enforcing Contracts
36/100
Corruption Perception
83%
Internet Penetration
TRY
Currency
UTC+3
Time Zone
12
Retail (months)
10
F&B (months)
14
Tech (months)
20
Manufacturing (months)
8
Services (months)