Entrepreneurship and Business Planning






Founding a LLC in Turkey

Why you should found a company in Turkey?

  • Equal rights and liabilities as local investors.
  • Low min wages, cost for employers.
  • Active economy.
  • Reaching new markets, in Turkey or via Turkey. (Iran)
  • Investment incentives depending on investment amount, region etc. (VAT exemption, custom duty exemptions for machinery etc bought for the project)
  • Special investment zones: technoparks, free zones.
  • Double taxation prevention and bilateral agreements with Estonia.

Why you should not found? 

  • Taxes, taxes, taxes.
  • Somewhat unstable political environment.
  • Slow bureaucracy.
  • You don't like torturing yourself.

Company Types

  1. Corporate: Joint stock company, limited liability company, cooperative company.
  2. Non-Corporate: Collective company, commandite company.
  3. Alternatives: Branches and liaison offices.

How to establish a company?


  • Submit articles through MERSIS
  • Notarized and apostilled documents: passport, signature declarations, practically any documents assigned outside of Turkey.
  • Obtain a tax identity number.
  • Deposit %0.04 of the capital to Competition Authority account.


  • Deposit at least %25 of the startup capital in a bank.
  • Apply for registration at the Trade Registry Office.
  • Certify the legal books by a notary public: ledger, inventory book etc.
  • Follow up with the tax office.


Average cost for LLC, including notarised documents and payments.


2600 TRY (~ 815€) [*]


* http://ada-danismanlik.com/limited-sirket-kurulus-asamalari-ve-masraflari-2015/

How to make things go fast/smooth? 

  • Make sure you know someone who can do you favours and speed your application.
  • Use a consultancy firm.


Serkan Ongan


Founding a LLC in Turkey

By Gülçin Yıldırım Jelínek

Founding a LLC in Turkey

This presentation is created for Entrepreneurship and Businness Planning lecture of Computer Systems Engineering master programme at Tallinn University of Technology

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