Country guide · 6 topics

Starting a business in Turkey

Everything Corpy covers for Turkey, checked against the Trade Registry, the Revenue Administration and Migration Management.

Corporate tax

25%

VAT / GST

20%

Setup time

3-7 days

Government fee

$500+

Common entity

Ltd. Şti.

Six topics, answered

Company formation4 guides

A Turkish Ltd. Şti. needs ₺50,000 minimum capital and registers through MERSIS and the Trade Registry in about 3 to 7 days. A licensed accountant (SMMM) is needed from the start.

Read the company formation guide →

Corporate tax3 guides

Turkey's corporate tax rate is 25%, rising to 30% for banks and financial firms. VAT is 20%, and dividend withholding is 15%.

Read the corporate tax guide →

Business laws3 guides

Turkish companies need an SMMM accountant, must publish key corporate changes in the Trade Registry Gazette, and switch to e-invoicing above set thresholds.

Read the business laws guide →

Free zones & incentives3 guides

Turkey's free zones exempt qualifying manufacturing income from corporate tax and suit exporters. Goods sold into Turkey from a zone are treated as imports.

Read the free zones & incentives guide →

Banking & finance3 guides

Opening a Turkish business account usually needs the company's tax number, registration documents, notarised translations and a branch visit. İş Bankası, Garanti BBVA and Akbank are common choices.

Read the banking & finance guide →

Visas & residency3 guides

Company owners often hold a short-term residence permit and need a work permit to work in their company. The Turquoise Card is a long-term route for qualified investors and talent.

Read the visas & residency guide →

Why founders choose Turkey

Low setup cost

Registration, office space and salaries cost less than in most of Europe, and Istanbul has deep talent in engineering, textiles and logistics.

Bridge to two regions

Istanbul sits within a few hours' flight of Europe, the Middle East and Central Asia, and a customs union with the EU covers industrial goods.

Free zones

Free zones allow manufacturing income to be tax-exempt from corporate tax. Goods entering and exiting the zone move without customs duty while inside.

Is Turkey right for you?

Good fit

+ Manufacturers and exporters operating in free zones
Regional operations serving the Middle East and Central Asia
+ Teams hiring engineers or operations staff on a cost-sensitive basis

Think twice

Businesses that cannot manage currency swings
Founders who want light paperwork and few translations
Anyone planning on rules staying fixed for years

Our take

Turkey rewards businesses that make and ship things, and costs stay low. Expect frequent rule changes and plenty of notarised paperwork, and keep a good SMMM accountant close.

The first year, step by step

Week 1
Get tax numbers; prepare articles.
Week 1
Deposit capital into a bank.
Days 3-7
Register via MERSIS; publish in the Gazette.
Week 2
Appoint an SMMM accountant.
Quarterly
File advance tax, switch to e-invoicing above thresholds.

Typical first-year costs

Registration and notary	$500-1,200
Minimum capital (Ltd. Şti.)	₺50,000
SMMM accountant	$1,000-3,000 / yr
Translations and apostilles	$100-400

Indicative ranges; see the formation guide for detail. Estimate yours →

Where founders slip

Company Formation

Too little capitalMinimum capital rose in 2024.

Company Formation

Skipping the accountantRegistration and first filings need an SMMM.

Corporate Tax

Planning on old ratesRates and withholding have changed several times recently.

Corporate Tax

Missing advance taxQuarterly provisional tax is due during the year.

Business Laws

Paper invoices past the thresholdNon-compliance with e-Fatura draws penalties.

Business Laws

Unpublished changesBoard or capital changes must appear in the Gazette.

Free Zones

Selling domestically from the zoneGoods entering Turkey from a free zone face import rules.

Free Zones

Ignoring licence conditionsZone operating licences specify allowed activities.

Banking

Untranslated documentsBanks need notarised Turkish translations.

Banking

FX surprisesForeign currency accounts carry specific reporting rules.

Visas

Working on a residence permitResidence alone does not authorise work.

Visas

Late renewalApply before expiry to avoid fines and exit bans.

Words you will meet

Ltd. Şti.: Limited company.
Ana sözleşme: Articles of association.
İmza sirküleri: Signature circular.
Kurumlar vergisi: Corporate tax.
Geçici vergi: Quarterly advance tax.
KDV: VAT.
SMMM: Certified public accountant.
e-Fatura: Electronic invoice.
TTSG: Trade Registry Gazette.
Serbest bölge: Free zone.
Faaliyet ruhsatı: Operating licence.
Ticaret Bakanlığı: Ministry of Trade.
IBAN: Account number used for TRY payments.
Döviz hesabı: Foreign currency account.
MASAK: Financial crimes investigation board.
İkamet izni: Residence permit.
Çalışma izni: Work permit.
Turkuaz Kart: Turquoise Card.

All Turkey guides

19 guides

Company formation

Cost of Starting a Business in Turkey: 2026 Breakdown

Apr 6, 2026 · 19 min read

Company formation

How to Register a Company in Turkey: Complete 2026 Guide

Apr 6, 2026 · 17 min read

Company formation

Turkey Company Formation for Indians: Key Insights

Apr 6, 2026 · 20 min read

Company formation

LLC vs Joint Stock Company in Turkey: Make the Right Choice

Apr 5, 2026 · 14 min read

Corporate tax

Turkey's Corporate Tax Rate and Filing for 2026

Apr 5, 2026 · 16 min read

Corporate tax

Turkey Double Taxation Treaties: Complete Guide

Apr 5, 2026 · 17 min read

Corporate tax

Turkey Tax Incentives for Foreign Investors: What to Know

Apr 5, 2026 · 18 min read

Business laws

Turkey Business Laws: A Guide for Foreign Investors

Apr 6, 2026 · 15 min read

Business laws

Intellectual Property in Turkey: Protection Essentials

Apr 6, 2026 · 15 min read

Business laws

Turkey Labor Law for Employers: Essential Compliance Guide

Apr 6, 2026 · 16 min read

Free zones

Turkey's Free Zones: Setup and Tax Benefits Explained

Apr 5, 2026 · 14 min read

Free zones

Turkey OIZ Benefits: A Manufacturer's Guide

Apr 5, 2026 · 13 min read

Free zones

Turkey Technology Development Zones: 0% Tax Benefits

Apr 4, 2026 · 13 min read

Banking

Opening a Business Bank Account in Turkey: Complete Guide

Apr 7, 2026 · 16 min read

Banking

Turkey Foreign Exchange Regulations: A Business Overview

Apr 7, 2026 · 14 min read

Banking

Turkey Payment Methods for Businesses: Complete Guide

Apr 7, 2026 · 13 min read

Visas & residency

Turkey Citizenship by Investment: Key Options Explained

Apr 4, 2026 · 13 min read

Visas & residency

Residency Permits for Business Owners in Turkey

Apr 4, 2026 · 13 min read

Visas & residency

Turkey Work Permit for Foreign Entrepreneurs: 2026 Guide

Apr 4, 2026 · 13 min read

Quick questions

Can a foreigner own 100%?

Yes. Foreign investors have the same rights as Turkish nationals, and a Ltd. Şti. can have a single foreign shareholder.

Is there advance tax?

Yes. Companies pay provisional tax (geçici vergi) quarterly on profit to date, and offset it against the annual corporate tax return.

What is e-Fatura?

The Revenue Administration's electronic invoicing system. Companies above set turnover thresholds, and those in certain sectors, must issue and receive invoices through it.

How many zones are there?

Around twenty, including Istanbul, Mersin and the Aegean zone in İzmir. Each has its own operator, rents and permitted activities.

Can I hold foreign currency?

Foreign-currency accounts come with reporting rules and periodic central bank requirements for converting export proceeds.

Does residence allow me to work?

Residence permits allow you to live in Turkey, but working even in your own company requires a separate work permit issued by the Ministry of Labour.

Compare Turkey

Cheapest countries to register →Easiest countries to start →

Official sources

MERSIS↗Ministry of Trade↗Invest in Türkiye↗Revenue Administration (GİB)↗Ministry of Treasury and Finance↗Trade Registry Gazette↗GİB: e-Fatura↗Ministry of Labour↗Aegean Free Zone↗BDDK: Banking Regulation and Supervision Agency↗