Starting a Business in


Below is a detailed summary of the bureaucratic and legal hurdles faced by entrepreneurs wishing to incorporate and register a new firm in Turkey. It examines the procedures, time and cost involved in launching a commercial or industrial firm with between 10 and 50 employees and start-up capital of 10 times the economy's per-capita gross national income.

This information was collected as part of the Doing Business project, which measures and compares regulations relevant to the life cycle of a small- to medium-sized domestic business in 190 economies. The most recent round of data collection was completed in June 2016.

Compare Turkey to 189 other economies.

  • No. Procedure Time to Complete Associated Costs

    Submit the memorandum and articles of association online at MERSIS and obtain a potential TIN

    Agency: MERSIS

    According to the Article 13 of the Regulation of Trade Registry published on the Official Gazette dated 27 January 2013 and numbered 28541, trade registration transactions shall be fulfilled through MERSİS (Central Registration Recording System).
    As of February 29, 2016 potential tax identification number can be obtained online though the MERSİS system. At the time the AoA are uploaded online via MERSIS, the system automatically gives the company a potential TIN.

    Less than one day (online procedure) no charge

    Execute and notarize company documents

    Agency: Notary

    According to Article 586 of the Turkish Commercial Code numbered 6102 and Article 90 of the Trade Registry Regulation, the following documents are required for the application of registration:
    - Notarized articles of association (4 copies and 1 original).
    - Notarized signature declarations (2 copies).
    - Notarized copy of the founders declaration (1 original copy).
    - Notarized copy of acceptance letters of the managers (who are not shareholders), (1 copy).
    - Notarized copy of a power of attorney authorizing the attorneys who will follow-up the application before the competent Trade Registry and other official authorities in order to proceed with the application (where applicable).
    - Notarized copy of the identity cards of the managers and shareholders (1 copy).

    The incorporation documents are exempt from the stamp tax: there are no fees to be paid for the articles of association and the signature declarations. However, fees are still applicable for notary services and for the valuable papers.

    1 day Paper cost: TL 140
    Notarization of the Articles of Association (for 10 pages): TL 1,400
    Notarization of the signature declaration of the manager: TL 65 per manager

    Deposit a percentage of capital to the account of the Competition Authority

    Agency: Halk Bankası (Ankara corporate branch)

    To register with the Commercial Registry, founders must obtain the original receipt from Halk Bankas. This receipt shows that 0.04% of the company’s capital has been paid to the Competition Authority at the central bank or a public bank.

    1 day 0.04% of capital

    Deposit at least 25% of the startup capital in a bank and Obtain proof thereof

    Agency: Bank

    According to Articles 585 and 344 of the new Turkish Commercial Code, 25% of the share capital must be paid in prior to the new company registration. The remaining 75% of the subscribed share capital must be paid within 2 years. Alternatively, the capital can be fully paid prior to registration.

    1 day no charge

    Apply for registration at the Trade Registry Office

    Agency: Commercial Registry

    The formation of a limited liability company does not require a court application. Thus, upon gathering the following documents, founders may apply for registration:
    - Petition requesting registration
    - 3 copies of an incorporation notification form (kurulus bildirim formu).
    - 4 copies of the notarized articles of association (1 original).
    - Bank deposit receipt with respect to the payment made to the bank account of the Competition Authority (0.04% of the company's share capital).
    - An undertaking (taahhutname) signed by the authorized company representatives. Signature declaration of the directors.
    - For each person authorized to represent the founders of the limited liability company, 2 copies of the signature declarations.
    - Notarized copy of the founders' declaration (1 original).
    - Bank certificate of the paid-in minimum capital deposit (at least 25% of the subscribed capital).
    - Chamber of Commerce registration form.
    - 1 passport-sized photo of the founders.
    - Acceptance declaration of the managers who are not shareholders (1 notarized copy).

    Following the completion of the registration phase before the Commercial Registry, the Commercial Registry notifies the relevant tax office and the Social Security Administration ex-officio regarding the incorporation of the company. The Commercial Registry arranges for an announcement in the Commercial Registry Gazette within approximately 10 days as of the company registration.

    A tax registration certificate must be obtained from the local tax office soon after the Commercial Registry Office notifies the local tax office.

    A social security number for the company must be obtained from the relevant Social Security Administration. For the employees, a separate application has to be made following the registration of the company with the Social Security Administration.

    According to the official fees of 2016 published in the Official Gazette No. 29573 published on 25/12/2015, the following fees are applicable for the incorporation of limited liability companies of January 1, 2016:
    -Registration fee for a limited liability company is TRY 750,
    -Initial registration fee of Chamber of Commerce is: TL 195
    -Publication or announcement fee is TRY 0.40 per word
    -Startup notice: TRY 65
    -Commercial registry gazette fee TRY 2.50
    -Registration fee for manager's signature;
    -first manager's signature is: TRY 525
    -Each Additional Signature: 341.90

    Fee schedule for annual membership in the Istanbul Chamber of Commerce (based on capital):
    - TL 1 - 999 (capital): TL 135
    - TL 1,000 - 24,999 (capital): TL 145
    - TL 25,000 - 249,999 (capital): TL 195
    - TL 250,000 - 999,999 (capital): TL 255
    - TL 1,000,000 and up (capital): TL 290

    2 days see procedure details
    * 6

    Certify the legal books by a Notary Public

    Agency: Notary

    The founders must certify the legal books (6 documents: share ledger, manager's meeting minutes book, general assembly meeting minutes book, journal, general ledger and inventory book) the day they register the company with the trade registry. The notary public must notify the Tax Office about the commercial book certification.

    Approximate fee schedule for statutory book certification:
    - Certification up to 100 pages: TRY 73
    - Certification up to 200 pages: TRY 95
    Fees include:
    - TRY 428 (6 books)
    - Yevmiye Defteri (100 sheets): TRY 73
    - Defter-i Kebir (100 sheets): TRY 73
    - Envanter Defteri (100 sheets): TRY 73
    - Ortaklar Pay Defteri (Share Ledger)(100 sheets): TRY 73
    - Karar Defteri (Board Resolution Book)(78 sheets): TRY 68
    - Genel Kurul Toplantı ve Müzakere Defteri (General Assembly of Partners' Resolution Book) (78 sheets): TRY 68

    1 day (simultaneous with previous procedure) see procedure details

    Follow up with the tax office on the Commercial Registry’s company establishment notification

    Agency: Tax Office

    The Trade Registry Office notifies the Tax Office and the Social Security Administration of the company’s incorporation. In practice, to expedite the registration process, company representatives follow up on whether the notification has been received. A tax officer comes to the company headquarters to prepare a determination report. There must be at least one authorized signature in the determination report. Trade Registry Officers send company establishment form which includes tax number notification to Tax Office.

    1 day no charge

    * Takes place simultaneously with previous procedure.