Good to know
Good to Know
- You do not need a Turkish partner, resident shareholder, or local sponsor to incorporate in Turkey — full 100% foreign ownership is standard for LLCs and JSCs.
- Owning a company does not automatically grant you a residence or work permit — those are separate applications that should be planned alongside incorporation, not assumed to follow from it.
- Minimum capital requirements increased significantly as of January 1, 2024 (LLC: 50,000 TRY, up from 10,000 TRY; JSC: 250,000 TRY, up from 50,000 TRY) — older blog posts and guides quoting the pre-2024 figures are outdated.
- For an LLC, the capital does not need to be paid up front; it can be paid within 24 months of registration, which helps cash flow for a new nomad-run business.
- A registered Turkish company (not a sole proprietorship) is the only route open to non-resident foreigners without a residence permit — sole proprietorships require Turkish residency or citizenship.
- The freelancer route in Turkey isn't the simple default it is in some countries: genuine self-employed ('independent professional') status legally requires 5 years of uninterrupted prior residency, which is why many newly arrived foreign remote workers set up a limited company (Ltd Şti) instead, even for solo consulting work.
- A foreign-owned limited company pays the same 25% corporate tax rate as a Turkish-owned one — there's no punitive 'foreign surcharge', but from 2026 a new 10% domestic minimum tax means very aggressive deduction/exemption planning has less room to reduce the effective rate below 10%.
- Budget for monthly (not just annual) compliance if you incorporate: VAT and withholding declarations are filed monthly and quarterly provisional corporate tax is due four times a year, so most foreign-owned companies retain a local accountant (muhasebeci) rather than self-file.
- This is general tax structuring information, not personalized advice — get a local CPA or tax lawyer to confirm your specific numbers before registering, since rates and thresholds have changed materially in 2025-2026.
Corporate Tax
- Standard Rate
- Turkey applies a standard corporate income tax (CIT) rate of 25% on companies, other than financial-sector companies, which are taxed at 30%.
- VAT
- Standard VAT (KDV) rates are 1%, 10%, and 20% depending on the good or service; exported goods and services are zero-rated.
- Residency Scope
- A company is treated as a Turkish tax resident (and taxed on worldwide income) if its registered head office or place of effective management is in Turkey; non-resident entities (e.g. branches/liaison structures) are taxed only on Turkish-sourced income.
- Export Incentive
- Corporate income earned solely from exportation activities benefits from a reduction of the standard rate, giving an effective rate of roughly 20% for export-only earners.
- Transfer Pricing
- Companies with related-party transactions must document arm's-length pricing (annual transfer pricing report, and Country-by-Country Reporting for larger groups); non-compliance can trigger tax adjustments and penalties.
- Domestic Minimum Tax
- Effective 1 January 2026, a domestic minimum tax regime requires corporate taxpayers to pay tax equal to at least 10% of corporate income before certain exemptions and deductions, computed alongside the standard 25% calculation, with the higher of the two being due.
- Withholding On Outbound Payments
- Turkey applies withholding tax on payments to non-residents, commonly cited around 10-15% on dividends (often reduced under a double-tax treaty), 0-10% on interest, and roughly 20% on royalties/technical fees, subject to Turkey's network of 80+ double-taxation treaties.
Filing Obligations
- Annual Return
- Corporate taxpayers must file an annual corporate tax return; the return and full-year financial statements are generally due by the end of April following the tax year, with the corporate tax itself paid at filing.
- Provisional Tax
- Companies make quarterly advance ('temporary') corporate tax payments during the year, calculated at the current corporate tax rate and offset against the final annual liability.
- VAT Refund Minimum
- TRY 164,000
Minimum threshold for a company to claim a VAT refund, per current-year figures.
- VAT And Withholding
- VAT and withholding tax declarations are filed monthly, with routine filing/payment deadlines clustering around the 26th and 28th of the following month.
Freelancer Vs Company Structures
- Practical Takeaway
- Most foreign solo operators in Turkey either hire a local accountant (muhasebeci) to run a sole-proprietor setup once they already hold a qualifying residence/work permit, or default straight to forming a Ltd Şti specifically to sidestep the 5-year independent-work-permit barrier — the choice is driven as much by permit eligibility as by tax rate.
Limited Company Ltd STI
- How It Works
- A Limited Şirketi (Ltd. Şti.) is a full corporate entity subject to the 25% (or 30% for financial firms) corporate tax regime described above, plus VAT and withholding obligations, and is required to submit financial statements (compulsory submission deadline around 30 April).
- Compliance Load
- This comes with materially heavier bookkeeping: monthly VAT/withholding filings, quarterly provisional corporate tax payments, annual financial statements prepared to Turkish Accounting Standards, and (above certain thresholds) transfer-pricing documentation if there are related-party transactions.
- Why Foreigners Use It
- Because the freelancer/independent-work-permit route is effectively closed to most newly arrived foreigners (5-year residency requirement), the common practical workaround for a foreign remote worker or consultant wanting to legally bill clients and hold a Turkish work permit is to incorporate a Ltd Şti and obtain a work permit tied to that company, rather than trying to register as an individual sole trader.
- Liability And Structure
- A limited company gives limited liability, separates personal and business assets, allows the founder to run payroll for themselves, and makes it easier to hold foreign-currency company bank accounts.
Sole Proprietor Sahis Sirketi
- No Separate Corporate Filing
- As a sole proprietor you pay personal income tax on business profits and do not file a separate corporate tax return.
- Liability
- A sole proprietor is personally liable for the business's debts — there is no legal separation between the individual and the business, so private assets can be used to settle business debts.
- How It Works
- A sole proprietorship (Şahıs Şirketi) is taxed under personal income tax (Gelir Vergisi), not corporate tax, at progressive rates of 15% to 40% on business profits after deducting expenses.
- Annual Filing
- Self-employed individuals file an annual income tax return by the end of March for the prior calendar year, with tax paid in two installments (at filing, and again by end of July).
- Capital And Setup
- There is no minimum capital requirement to establish a Şahıs Şirketi, unlike a limited company.
- VAT And Social Security
- Sole proprietors generally must register for and charge VAT once turnover crosses the relevant threshold, and must make social security contributions (SGK health insurance and Bağ-Kur pension) based on earnings.
- The Foreigner Bottleneck
- The practical catch for most foreign nomads/freelancers is obtaining the underlying legal right to operate this way: a foreigner wanting genuine self-employed ('independent professional') status needs an independent work permit, which is only issued after residing legally and uninterruptedly in Turkey for at least 5 years, plus other conditions on education, experience, and economic contribution.
Scope Note
Corporate tax, filing rules and the freelancer-vs-company choice are set at the national (Turkish) level, not by Antalya municipality — the same rules apply whether the company is registered in Antalya or elsewhere in Turkey.
Incorporation Process And Requirements
- Governing Law
- Turkish Commercial Code (Türk Ticaret Kanunu, Law No. 6102) and the Foreign Direct Investment Law (Law No. 4875).
- Remote Incorporation
- Physical presence in Turkey is not required. With a properly drafted, notarized Power of Attorney, a local lawyer or representative can handle notarization, Trade Registry filing, and even bank account opening on the founder's behalf, though some banks prefer an in-person visit for account opening.
- Registration Authority
- Registration is done nationally through MERSİS (Merkezi Sicil Kayıt Sistemi), the Ministry of Trade's central registry platform, then finalized at the local Trade Registry Directorate operating out of the Antalya Chamber of Commerce and Industry (ATSO), which functions as a one-stop shop.
- Recommended Entity Type
- Limited Liability Company (Ltd. Şti.) — the standard choice for foreign solo founders and SMEs; a Joint Stock Company (A.Ş.) is used for larger operations or those planning to bring in outside investors.
- Local Partner Or Sponsor Requirement
- None for LLCs or Joint Stock Companies. Foreign nationals get full national treatment: 100% foreign ownership is allowed, a single foreign shareholder can also be the sole director, and no Turkish partner, resident shareholder, or local sponsor is legally required. The only structure that does require Turkish residency is a sole proprietorship (şahıs şirketi) — most foreigners avoid this and use an LLC instead.
Core Steps
- Obtain a Turkish 'potential tax number' for each foreign shareholder/director from the local Tax Office — required before opening a bank account or using MERSİS.
- Reserve the company name and draft the Articles of Association in MERSİS (in Turkish; a certified translation is normally prepared for the foreign founder's review).
- Notarize signature declarations and the Articles of Association, either in person at the Trade Registry/notary or remotely via a notarized Power of Attorney given to a local representative or lawyer.
- Deposit capital: for an LLC the full minimum capital can be paid within 24 months of registration (no upfront deposit legally required); for a JSC, at least 25% of subscribed capital must be deposited and blocked in a Turkish bank before registration, plus a small Competition Authority contribution (0.04% of capital).
- File the completed application with the Trade Registry Directorate (via the Chamber of Commerce); the registry registers the company and publishes the incorporation in the Turkish Trade Registry Gazette.
- Complete post-registration steps: the tax office records the company, legal books are certified, an e-signature and e-notification address are obtained, and the Social Security Institution (SGK) is notified before any staff are hired.
- Open a corporate bank account (requires notarized Articles of Association, Trade Registry Gazette copy, and tax number; typically opened within 5-7 business days after registration, sometimes needing an in-person branch visit).
Official Links
Minimum Capital
- JSC
- TRY 250,000
- LLC
- TRY 50,000
Realistic Timeline
- Bottleneck
- Errors or delays in translation/apostille of foreign documents are the most commonly cited cause of slower-than-expected registration.
- Core Registration
- 3 to 10 business days once all documents are correctly prepared, translated, notarized and submitted — MERSİS review/notarization typically takes 1-2 days, with Trade Registry filing and Gazette publication adding another 2-3 days.
- With Foreign Document Apostille And Translation
- 2 to 4 weeks is more realistic end-to-end when factoring in obtaining apostilled/notarized documents from abroad, sworn translations, and opening the corporate bank account.
Typical Incorporation Cost Estimate
- Low
- TRY 13,000
- High
- TRY 16,500
- Note
- This range covers filing/registry fees and basic notarization only. It does NOT include a lawyer's fee, which local firms commonly quote separately (often around USD 1,000-1,500), nor a virtual/registered office, nor accountant retainer — both realistically add to total setup cost for a foreigner working remotely.
- Range Description
- Government/registry fees, notary and translation costs, and Chamber of Commerce registration combined
AI-generated estimateData refreshed July 2026
Sources cited for this category
These are the sources cited in this business permits & incorporation for foreigners research for this city. Individual figures may not each trace to one of them.
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Data last updated July 2026 · Verify anything important.