Should a foreign investor pick a Joint Stock Company (A.Ş.) or a Limited Company (Ltd.)?

Depends on investor type and scale. A.Ş.: minimum TL 250,000 share capital, free share transfer, IPO option, formal corporate governance. Ltd.: minimum TL 50,000 share capital, closed ownership, notarised share transfer required. Foreign investors usually prefer A.Ş. for partnership flexibility, exit planning and alignment with international corporate structures.

How does a foreign partner obtain a potential tax number?

Before company formation, a potential tax number is required for the foreign individual partner. Apply at the relevant tax office with an apostilled passport copy, residence document (if available) and notarised power of attorney. Typical processing time is 2–5 business days.

How long does MERSİS registration and trade register filing take?

After online articles of association approval through MERSİS, trade register filing is completed within 2–3 business days. Total elapsed time (including the potential tax number) is typically 7–10 business days. Opening a bank account is separate — a distinct hurdle for foreign-capital companies.

Which registrations must be initiated within the first 30 days?

Within 30 days post-formation: (1) Notarisation of statutory books, (2) e-Invoice / e-Archive application, (3) SGK (Social Security) workplace registration if hiring, (4) VAT and withholding tax registration, (5) Annual FDI notification (DTYB form), (6) MERSİS UETS (electronic notification) activation.

As of 2026, what are the minimum capital and paid-in ratio requirements for a JSC versus an LLC?

As of 2026, the minimum capital is 250,000 TRY for a joint-stock company (A.Ş.) and 50,000 TRY for a limited liability company (Ltd. Şti.). For a JSC, at least 25% must be paid in at incorporation, with the balance due within 24 months. For an LLC, the upfront paid-in requirement was lifted in 2024 — capital may be fully paid in within 24 months.

Can a foreign individual investor incorporate a Turkish company without a residence permit?

Yes. A residence permit is not required for incorporation. With an apostilled passport and a notarised power of attorney, the foreign investor obtains a potential tax ID, then completes articles of association on MERSİS and trade registry registration without physical presence in Türkiye. However, opening a corporate bank account requires wet-ink signature and physical presence — travel is required at that stage only.

Setting up a foreign-capital company in Turkey: the first 90 days

TL;DR — 60 seconds

With all documents in hand, forming an A.Ş./Ltd. in Türkiye takes 7-10 business days. Tax number → MERSİS → Trade Registry → notary → bank account in parallel.

Entity choice: A.Ş. (TL 250,000-500,000 capital, flexible share transfers, required for employee stock options) vs Ltd. (TL 50,000 capital, closed structure). Starting with a branch is the typical pattern for the first 12-18 months.

Critical: bank account may take 4-8 weeks — longer than the formation itself. UBO + apostille preparation should start in parallel.

First question: Is an external funding round or exit foreseen? If yes, A.Ş. is mandatory — Ltd. cannot issue shares.

In the past decade, Turkey has significantly streamlined its processes for foreign investors — but that simplification still means several channels that have to be walked in the right order.

Choosing a company type

[Differences between Limited (Ltd. Şti.) and Joint Stock (A.Ş.) — capital, partners, governance, share transfer.]

Tax number and bank account

[The potential tax-number process for foreign partners, steps for opening a bank account, and MERSİS registration.]

Monthly operations

The operational items that need to be initiated within 30 days of company formation — book certification, e-invoice/e-archive application, SSI workplace registration, VAT/withholding registration — are listed here.

Practical advice

Two habits I always recommend to company owners:

From the date of incorporation, hold a 30-minute summary meeting with your CPA every month.
Archive bank movements, e-invoices, expense receipts and customer contracts using the same folder structure.

Foreign Investor Banking in Türkiye — 6 barriers + 3 golden rules
Turkey Liaison Office 2026 — Alternative structure + conversion trap
A Foreign Game Studio’s Journey into Turkey — A.Ş. selection case
Turkey Technopark 2026 — Branch vs A.Ş. structural decision
Service: Foreign-Capital A.Ş./Ltd. Setup — Process + pricing
Guide: Foreign Investor Onboarding — End-to-end roadmap

TL;DR — 60 seconds

Choosing a company type

Tax number and bank account

Monthly operations

Practical advice

Related Reading

A Foreign Game Studio's Journey into Turkey: From the First Email to the First Dividend

From Bureaucracy to Geopolitics: The Invisible Side of Banking for Foreign Investors in Türkiye

Monthly notes from Istanbul