Overview of Companies in Turkey

The main company types in Turkey are Private Limited, Joint Stock companies, Commandite and Collective Companies. Foreign businesses can also open a Liaison Office or a Branch in Turkey.

In this section, you can find an overview of these companies in Turkey, access their registration procedure and documentary requirements, or go to the section of a particular company type for further information.

WHO CAN FORM A COMPANY IN TURKEY
Foreign investors can form a company in Turkey. A foreign investor is defined as a company registered outside Turkey, or a non-Turkish national, or Turkish nationals who reside abroad. The removal of the requirement of the prior ministerial approval has conferred ‘Turkish Company’ status to all foreign investment based companies with the same rights and obligations of Turkey based companies. Provided all required documents are submitted to a Trade Registry Office, a company can be incorporated in Turkey just in one day.

REGULATED SECTORS
There are business organisations under special Turkish legislation for which prior establishment approval must be obtained from the Ministry of Commerce and Industry. These regulated sectors are: Banks, Private Finance Institutions, Insurance, Financial Leasing, Factoring, Holdings, Foreign Currency Exchange Offices, Public Warehousing, founders and operators of Free Trade Zones and companies subject to the Capital Markets Law.

LIMITED COMPANY
A Limited Company is set up with at least two real persons or legal entities. The liability of the shareholders is limited with the share capital. Minimum capital requirement is 10.000 TL. Unlike joint stock companies, stock certificates are not issued. For further information, visit the section on Limited Companies.

JOINT STOCK COMPANY
A Joint Stock Company is a limited company that can issue stock certificates, and set up with at least 5 shareholders, real persons or legal entities. The company’s stock capital is divided into shares, and the liability of the shareholders is limited with the share capital. Minimum capital requirement is 50,000 YTL. General Assembly, Board of Directors and Supervisory Board are mandatory company organs. For further information, click on Joint Stock Companies.

COMMANDITE COMPANY
A Commandite Company is a type of company established to carry out a business under a trade name. Whereas the liability of some shareholders is limited to the capital subscribed and paid by the shareholder (commanditer), for some shareholders there is no limitation of liability. The liability of legal entities will be in proportion to their shares. There is no minimum capital requirement. The rights and obligations of the shareholders are determined by the Articles of Association.

COLLECTIVE COMPANY
A Collective Company is similar to a Commandite Company, except only real persons can be shareholders of a Collective Company and the liability of the shareholders is limited to the capital subscribed and paid by the shareholder. Like a Commandite Company, a Collective Company is set op carry out a business under a trade name without a requirement of minimum capital, where the rights and obligations of the shareholders are also set out in the Articles of Association.

SETTING UP A LIAISON OFFICE
Companies based abroad can open liaison offices in Turkey provided if commercial activities are not carried out through these offices. For further information, visit the section on Setting up a Liaison Office.

SETTING UP A BRANCH
Companies based abroad whose capital is divided into shares can open branches in Turkey. Opening a Branch requires prior approval from the Ministry of Commerce and Industry. For further information, click on Setting up a Branch.

TURKISH LANGUAGE DESIGNATIONS FOR COMPANY TYPES

Limited Company
Joint Stock Company
Commandite Company
Collective Company
Liaison Office
Branch
Limitet Şirket
Anonim Şirket
Komandit Şirket
Kolektif Şirket
İrtibat Bürosu
Şube