Turkey
Key entity, tax, banking, visa, and compliance guidance for foreign founders incorporating in Turkey.
Foreign Ownership Eligibility
Turkey welcomes 100% foreign-owned companies
A physical visit is required at some point during the formation process.
- Ltd. Sti. is the common private company format
- A.S. is used for larger and capital-market operations
- Corporate income tax headline is listed at 25%
- VAT standard rate is 20%
Ownership
100% Foreign OK
Formation
Visit Required
Note
Capital minimums, CIT continuity, and incentive terms include verification flags.
Tax at a glance
Turkey Tax Overview
25%
Corporate income tax
Turkey tax summary
20% standard
VAT
Turkey tax summary
10% non-resident baseline
Dividend withholding
Turkey tax summary
Pros & cons
Advantages & Considerations
Key Advantages
Strategic bridge between Europe and Asia
100% foreign ownership with established legal framework
Large domestic market and industrial base
Strong customs and trade positioning with EU customs union
Considerations
Currency (TRY) volatility is significant risk
High inflation environment
Political risk and regulatory unpredictability
Incorporation Process
The process is strictly digital. Each stage builds on the previous one.
Draft articles
Register in MERSIS
Tax and social setup
Capital and banking
What you'll pay
Cost Architecture
Government Fees
Annual Ongoing
Professional Services
Currency volatility and Turkish-language filing workflow require operational planning.
Still unsure about costs?
These are estimates — your actual cost depends on your structure
Every Turkey setup is different. A 15-minute call with one of our specialists will give you a personalised cost breakdown — completely free.
Fintech & Banking
Can non-residents open accounts without visiting? YES.
Banking options for non-resident founders in Turkey. Remote account opening availability varies by institution.
| Institution | Type | Ease for Non-Residents | Notes |
|---|---|---|---|
| Ziraat Bankasi | Traditional bank | Low (Visit Required) | 1-2 weeks for standard corporate onboarding • Bank package dependent • Bank specific • Registry docs, tax records, UBO and signatory details • EFT, SWIFT, cards, online and mobile banking |
| Is Bankasi | Traditional bank | Low (Visit Required) | 1-2 weeks for standard corporate onboarding • Bank package dependent • Bank specific • Registry docs, tax records, UBO and signatory details • EFT, SWIFT, cards, online and mobile banking |
| Garanti BBVA | Traditional bank | Low (Visit Required) | 1-2 weeks for standard corporate onboarding • Bank package dependent • Bank specific • Registry docs, tax records, UBO and signatory details • EFT, SWIFT, cards, online and mobile banking |
| Akbank | Traditional bank | Low (Visit Required) | 1-2 weeks for standard corporate onboarding • Bank package dependent • Bank specific • Registry docs, tax records, UBO and signatory details • EFT, SWIFT, cards, online and mobile banking |
| Yapi Kredi | Traditional bank | Low (Visit Required) | 1-2 weeks for standard corporate onboarding • Bank package dependent • Bank specific • Registry docs, tax records, UBO and signatory details • EFT, SWIFT, cards, online and mobile banking |
| Digital onboarding options are available at selected banks | Fintech | High (Remote) | 1-2 weeks for standard corporate onboarding • Bank package dependent • Bank specific • Registry docs, tax records, UBO and signatory details • EFT, SWIFT, cards, online and mobile banking |
Regulatory requirements
Annual Compliance Matrix
| Requirement | Deadline | Details |
|---|---|---|
Annual financial statements | Ongoing | Yearly. Submit annual statements under registry and tax rules. |
Tax filings | Ongoing | Periodic and annual. Submit VAT and CIT filings on schedule. |
Statutory audit | Ongoing | Annual. Audit applies where threshold conditions are met. |
Frequently Asked
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