Are you considering expanding your business ventures to Türkiye? Perhaps you're intrigued by the country's dynamic market or its strategic geographical location bridging Europe and Asia. One of the primary questions that may arise during your exploration is whether a foreigner can establish a company in Türkiye.

The answer is a resounding YES! Türkiye welcomes foreign investors and offers a relatively straightforward process for establishing a company. Whether you're an individual entrepreneur or representing a multinational corporation, the Turkish legal framework provides avenues for foreigners to set up various types of entities, each with its own advantages and considerations.

The process of establishing a company in Türkiye involves several essential steps. A foreigner must follow the following steps to incorporate a Turkish company:

1. Tax ID: Whether you opt for a limited liability company or a joint stock company, the initial step entails obtaining a potential tax ID number for foreign shareholders and foreign company representatives (namely members of the board of directors in case of joint stock company and managers in case of limited liability company). They can either apply directly or through a proxy to the tax office.
2. Signing of Articles of Association and Payment of Initial Capital Amount: The next step is to sign the Articles of Association, which can be done before a notary public or at the Trade Registry, either by shareholders or via proxy. Simultaneously, the initial capital must be deposited into a temporary bank account. Depending on your choice as to whether to pay the capital upfront or to pay it following incorporation, we will liaise with a bank and initiate the KYC process. 
3. Submission of the Incorporation File to Trade Registry: An application should be submitted to the national e-registration system (known as MERSIS) to schedule an appointment with the relevant Trade Registry Directorate. Then at the time of appointment, we visit the Trade Registry Directorate to deliver the originals of the relevant documents for the officer’s review. The documents must be presented include:  
• The petition letter requesting registration;
• a Chamber of Commerce registration declaration;
• the articles of association; and
• a bank letter evidencing payment of the required minimum share capital. 
4. Registration of the Company, Company Books and Signature Circular: The company is registered once the Trade Registry officer approves that the incorporation file is complete. Then we proceed to obtain the company books and with the issuance of the signature circular. 
5. Tax Office Visit: Lastly, tax officers will pay a visit to the company's headquarters and issue a tax number for the company. With the tax registration, the incorporation process is complete.

Typically, the incorporation process proves efficient, taking around one week from the submission of documentation to the Trade Registry Directorate. The establishment of branches and liaison offices, however, requires additional documentation and the establishment process may take longer, as special permission or confirmation from relevant authorities may be required. Notably, the precise timeline may be subject to location-specific nuances, and compliance with all regulatory procedures. 

Other Matters, e.g., Permanent Bank Account, Agreement with Accountant: Other important considerations post-incorporation include setting up a permanent official bank account and establishing an agreement with an accountant.  We stand ready to assist you with these matters, along with obtaining essential business licenses and crafting a detailed business plan to steer your operations. You can count on us to support you comprehensively in launching your new company in Türkiye!