Source-cited draft: company formation & entity choice for Turkey (tax year 2025) — rates, thresholds and rules with primary-source citations. Unverified; pending local-accountant review.
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Overview of company formation vehicles
The most common vehicles are the Limited Liability Company (Limited Şirket, Ltd. Şti.) and the Joint Stock Company (Anonim Şirket, A.Ş.), both governed by the Turkish Commercial Code No. 6102. Minimum capital amounts were raised effective 1 January 2024. Incorporation is largely completed through the MERSIS system and the relevant Trade Registry.Turkish Commercial Code No. 6102
Limited Liability Company (Limited Şirket)
1–50 shareholders; liability limited to capital contribution; most common SME vehicleTurkish Commercial Code No. 6102 (https://ozbekcpa.com/company-formation-in-turkey/)
Joint Stock Company (Anonim Şirket)
One or more shareholders; share-based; required for many regulated/larger businesses and can be publicly listedTurkish Commercial Code No. 6102 (https://ozbekcpa.com/company-formation-in-turkey/)
Minimum capital — Limited Liability Company
TRY 50,000 (raised from TRY 10,000 effective 1 January 2024)Turkish Commercial Code No. 6102, Article 580; Presidential Decree (Official Gazette 25 Nov 2023) (https://www.pilc.law/increase-in-minimum-capital-amounts-for-joint-stock-and-limited-liability-companies-in-turkey/)
Minimum capital — Joint Stock Company
TRY 250,000 (raised from TRY 50,000 effective 1 January 2024)Turkish Commercial Code No. 6102, Article 332; Presidential Decree (Official Gazette 25 Nov 2023) (https://www.pilc.law/increase-in-minimum-capital-amounts-for-joint-stock-and-limited-liability-companies-in-turkey/)
Minimum capital — JSC with registered-capital system (non-public)
TRY 500,000 initial capital (raised from TRY 100,000 effective 1 January 2024)Turkish Commercial Code No. 6102; Capital Markets legislation (https://www.pilc.law/increase-in-minimum-capital-amounts-for-joint-stock-and-limited-liability-companies-in-turkey/)
Capital payment timing — JSC
At least 25% of cash capital paid before registration; remainder within 24 monthsTurkish Commercial Code No. 6102 (https://ozbekcpa.com/company-formation-in-turkey/)
Capital payment timing — LLC
Cash capital may be paid within 24 months of registration (no upfront 25% requirement for LLCs) ((approx — confirm current LLC payment rule))Turkish Commercial Code No. 6102 (https://ozbekcpa.com/company-formation-in-turkey/)
Incorporation process
Register via MERSIS (central registry), notarize/declare articles of association, deposit capital, register with the Trade Registry, and obtain tax number; foreigners may own 100%Turkish Commercial Code No. 6102; Foreign Direct Investment Law No. 4875 (https://ozbekcpa.com/company-formation-in-turkey/)
Typical incorporation timeline
Approximately 1–2 weeks once documents are ready ((approx — varies by registry/locale; confirm))Turkish Commercial Code No. 6102 (https://ozbekcpa.com/company-formation-in-turkey/)
Competition Authority levy
0.04% of share capital payable to the Turkish Competition Authority at incorporationLaw No. 4054 on the Protection of Competition (https://ozbekcpa.com/company-formation-in-turkey/)
Core annual compliance
Statutory accounting (Uniform Chart of Accounts), monthly VAT & withholding returns, quarterly advance CIT, annual CIT return (by 30 April), and annual general shareholders' meetingTurkish Commercial Code No. 6102; Tax Procedure Law No. 213 (https://taxsummaries.pwc.com/turkey/corporate/tax-administration)
Capital top-up deadline for existing companies
Existing companies below the new minimums must raise capital by 31 December 2026Turkish Commercial Code No. 6102, Provisional Article 15 (https://www.pilc.law/increase-in-minimum-capital-amounts-for-joint-stock-and-limited-liability-companies-in-turkey/)
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