Setting up a company in Türkiye: a process map for foreign investors

Incorporation is not the same as registration. Getting the sequence right saves you the first three months.

On paper, forming a company in Türkiye takes a few days. In practice what stretches the timeline is not the registration itself but the steps that follow it being taken in the wrong order.

The workable sequence is roughly: obtain a potential tax number, draft the articles of association, deposit the capital and pay the formation fees, register with the trade registry, obtain the signature circular, complete the tax office inspection, and only then open the bank account and register for e-invoicing.

The bank account is where most timelines break. For companies with foreign shareholders, banks ask for documentation of the ownership structure and the source of funds. If those documents were not prepared during formation, the account can take weeks.

The second common problem is the registered address. Virtual offices cause difficulties with several banks and with some permit applications. Choosing an address where business is genuinely conducted costs less than changing it later.

The choice of company type should also be made at the outset. A limited company is simpler to form; a joint-stock company is more flexible for share transfers, bringing in investors and certain permit processes.

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