Starting a Business in Turkey: A Practical 2026 Guide for Foreign Investors

Turkey has emerged as a prime destination for foreign investors and entrepreneurs. With its strategic location bridging Europe and Asia, a dynamic economy, and a supportive government, starting a business in Turkey is open to foreign nationals and can provide access to a variety of opportunities.

The Central Bank of the Republic of Turkey recorded a 12.2% increase in foreign direct investment in Turkey in 2025 compared to 2024, highlighting the nation’s ability to attract foreign investors despite a challenging global economy.

Whether you are interested in online company registration in Turkey or exploring the overall process of setting up a business there and how it fits into a broader citizenship strategy, this Global Citizen Solutions guide has everything you need.

Starting a Business in Turkey: Key Insights

Foreigners can start a business in Turkey without citizenship, but obtaining Turkish Citizenship by Investment can simplify ownership and long-term operations.

Company registration can be completed within a few business days, provided all the correct documents are submitted to the Turkish Trade Registry.

The full setup, including a bank account and Social Security, usually takes two to three weeks.

Costs range from a minimum of 50,000 TRY (about $1,040) for an LLC to a minimum of 250,000 TRY (about $5,200) in a private Joint Stock Company, excluding registration, notary, and consultancy fees.

Most businesses operating in Turkey pay a flat corporate tax rate of 25%.

Popular sectors for foreign investors include real estate, hospitality, tech startups, manufacturing, agriculture, renewable energy, and logistics.

Work permits are only needed if you plan to manage or work directly for the company. Ownership does not grant the right to work in Turkey.

01/ Business-Friendly Environment

The Turkish government has implemented policies to attract foreign investment, including tax incentives, reduced bureaucracy, and various free trade agreements. This, along with programs like Turkey Citizenship by Investment, is truly putting Turkey on the map for foreign investment.

02/ Strategic Location

Turkey is located between Europe and Asia, providing access to diverse markets and making it a hub for international trade. The country’s proximity to major economies in Europe, the Middle East, and Central Asia makes it a fantastic option for businesses looking to obtain a global reach.

03/ Growing Economy

Turkey is one of the fastest-growing economies in the world, with a focus on sectors like manufacturing, tourism, and technology. Plus, the young and dynamic workforce also contributes to its quick economic growth. According to the World Bank, Turkey’s GDP per capita has increased year-on-year over the last six years from $8,798.10 in 2020 to $18,599.40 in 2025.

04/ Affordable Costs

For operational expenses, starting a business in Turkey can be less expensive than in Western European countries, given the lower minimum wage. Despite the 27% increase in the Turkish gross minimum wage in 2026 to 33,030 TRY (about $687), it is still much lower than the US federal minimum wage of $7.25 per hour (about $1,257 per month based on a 40-hour work week) and the UK minimum wage of £12.71 per hour for adults over 21 (about $3,005 per month based on a 40-hour work week).

05/ Developed infrastructure

One of the key factors attracting foreign investors is the presence of essential infrastructure and reduced transportation costs. Turkey has made significant strides in developing its core infrastructure, including transportation, communications, energy, and technology.

Çukurova International Airport, which began serving air traffic on 11 August 2024, improved international air connectivity for the Mersin and Adana region. Around 400 kilometers of the Northern Marmara Motorway had been completed, with the main route fully opening to traffic in December 2020.

06/ Top-quality workforce

Turkey offers a well-educated workforce emerging from top universities in Turkey, with 45.6% of adults aged 25-34 holding a higher education degree. Additionally, Turkey’s overall labor force in 2025 was around 36.8 million, ranking it ahead of the UK, France, Italy, and Spain. This provides foreign investors with access to skilled professionals, an added benefit alongside affordable labor costs.

Most foreign investors can start a business in Turkey. However, the process is easier for those who obtain Turkish citizenship. Luckily, the Turkey Citizenship by Investment program offers one of the fastest ways to obtain citizenship, with a designated option for starting a business.

The investment scheme invites qualifying applicants to invest in Turkey, in exchange for lifelong citizenship rights. To qualify, an investor must satisfy one of the following: 

• Create jobs for at least 50 people in Turkey
• Contribute $500,000 to government bonds
• Acquire at least $400,000 worth of real estate
• Invest a minimum of $500,000 in fixed capital contributions
• Deposit at least $500,000 into a Turkish bank account
• Make a $500,000 fixed capital investment into a Turkish business

One of the biggest benefits of the program is that citizens of Turkey have access to the Turkey E-2 Visa with the US.

If you’re considering opening a business in Turkey, knowing which industries are lucrative can be a big help. The following sectors were listed as the top industries for foreign investment by Invest in Turkey, sourced from data released by the Central Bank of the Republic of Turkey (CBRT).

“Whether purchasing rental units, investing in luxury developments, or acquiring office spaces, buying property in Turkey combines returns with the opportunity to qualify for Turkish citizenship, as well as a home for buyers who plan to relocate.”

Joe Rice, Head of Citizenship Programs at Global Citizen Solutions

Foreign entrepreneurs in Turkey have the same rights as citizens (those with a Turkish passport) when it comes to business ownership. Here is a step-by-step overview of the business setup process:

Step 01/ Choose your business structure

The most common types of businesses for foreigners in Turkey are:

• Limited Liability Company (LLC): Requires at least one shareholder and a minimum capital of 50,000 TRY (about $1,040), to be paid within 24 months.
• Joint Stock Company (JSC): Ideal for larger businesses and requires a minimum capital of 250,000 TRY (about $5,200) (25% upfront and the other 75% within 24 months).

The minimum investment amounts are determined by the Ministry of Trade of the Republic of Türkiye (Ticaret Bakanlığı).

LLCs are generally preferred by foreign nationals because they:

• Require lower minimum capital than Joint Stock Companies
• Allow full foreign ownership
• Have simpler governance and reporting requirements
• Are suitable for small and medium-sized businesses
• Can be managed by a single shareholder

Step 02/ Obtain a Tax Identification Number

You’ll need a tax ID to carry out legal transactions. This can be obtained with your passport through the Turkish Revenue Administration portal at digitalservice.gib.gov.tr or at a district tax office in Turkey.

Step 03/ Register your company name

Conduct a Turkey company register search through the Turkish Trade Registry to ensure your desired business name is available. You’ll need to reserve the name during the registration process.

Step 04/ Prepare required documents

The core document requirements for starting a business include:

• Articles of Association
• Proof of address (lease agreement or ownership documents)
• Copies of shareholders’ passports
• Notarized signatures

Other document requirements can vary significantly by industry. For example, licensed warehouse businesses also require a bank statement showing a minimum investment of 1 million TRY (about $20,800), a risk center report, a declaration that none of the partners have been declared bankrupt, and criminal record certificates for the founders, partners, and board members.

Step 05/ Submit documents and pay registration fees

Submit your documents to the Trade Registry Office. Upon approval, you’ll receive a Turkey company registration certificate and your Turkey company registration number.

Step 06/ Open a bank account

You’ll need a local business bank account to deposit the minimum share capital and manage financial transactions. There is a range of Turkish banks to choose from, including state-owned Ziraat Bankası and VakıfBank, as well as private commercial banks such as Akbank and Garanti BBVA. 

Step 07/ Register for Social Security and taxes

All businesses in Turkey go through tax registration. If the business will be an employer, it must be registered with the Social Security Institution (SGK) by submitting the required workplace and company information. 

Step 08/ Obtain Necessary Permits

Depending on your business type, you may need specific permits or licenses. These are examples of required permits in Turkey:

• Travel agency: Group A, B, or C travel agency operating certificate, issued by the Ministry of Culture and Tourism / TÜRSAB
• Mining company: Mining exploration and operation license, issued by the General Directorate of Mining and Petroleum Affairs
• Medical center: Preliminary permit for operating structure and final operating license, issued by the Ministry of Health and local Provincial Health Directorates

Setting up a company in Turkey can be done entirely online through MERSIS (Central Registry Record System), the country’s digital business registration platform. This system streamlines the process by allowing entrepreneurs to submit all necessary documents for online company registration in Turkey electronically.

Foreign investors looking to expand can easily register a company in Turkey for foreigners. You’ll need to provide key documents such as the Articles of Association and proof of capital. These are submitted via the Turkish Trade Registry Gazette’s digital platform. Once approved, your company is officially registered, enabling you to start operations without the need for extensive paperwork or in-person visits.

For a Limited Liability Company (LLC), the minimum capital is 50,000 TRY (about $1,040), while a Joint Stock Company (JSC) needs at least 250,000 TRY (about $5,200) invested.

Minimum capital thresholds are only part of the cost. Chamber of Commerce, Trade Registry Gazette, and signature certification also add to the investor’s expenses. These amounts vary depending on the location, company structure, and documents needed. The Istanbul Chamber of Commerce has a distinct schedule for Trade Registry and Chamber-related charges. Notarization and translation must also be considered in startup costs.

If the business employs people, the employer must take into account minimum wage laws. The Turkish Investment Office lists a gross minimum wage of 33,030 TRY (about $687) per month for 2026, excluding the employer’s Social Security contributions.

Based on taxes in Turkey, corporate tax is currently set at 25%, as of 2026. This rate applies to most companies. However, a higher rate of 30% applies to financial institutions such as banks and insurance companies.

Turkey also has 19 free zones (18 operational), offering a special tax regime, including:

• No stamp duty
• No corporate or income tax
• No property or real estate taxes
• No VAT on logistics to third-party countries

Navigating Bureaucracy

Turkey’s bureaucracy can be a daunting challenge for foreign entrepreneurs. Complex procedures for business registration, obtaining permits, and meeting legal requirements may result in delays and frustration.

Common hurdles:

• Language barriers when dealing with government offices.
• Lengthy processes for acquiring work permits and business licenses.
• Confusion over the specific company documents required for various filings.

Solutions:

1. Hire a local law firm or legal advisor: Experienced professionals can guide you through the registration process, ensuring all documents are accurate and submitted on time.
2. Learn basic Turkish: While not mandatory, understanding key phrases can help smooth interactions with local officials. Additionally, if you’re planning on moving to Turkey, learning some of the local language is highly recommended.

Understanding Turkish Business Culture

Cultural differences can sometimes lead to misunderstandings or inefficiencies in the workplace. Turkish business culture places significant emphasis on relationships, trust, and communication.

Key differences to consider:

• Building trust and rapport is essential before finalizing any agreements.
• Meetings often include informal discussions before diving into business matters.
• Hierarchies are respected, and decisions are typically made by senior leaders.

Tips for smooth operations:

1. Invest in networking: Attend local business events and connect with Turkish entrepreneurs. Personal connections often facilitate smoother negotiations.
2. Be patient and flexible: Building trust takes time; don’t rush the process.
3. Adapt to communication styles: Direct communication is appreciated, but politeness and courtesy are equally valued.

Ensuring Compliance with Turkish Laws

Staying compliant with Turkish laws is critical to avoid penalties and ensure long-term success. Taxation, employment regulations, and trade compliance are areas that require close attention.

Key areas to monitor:

• Tax regulations: Ensure timely filing of Value Added Tax (VAT), corporate income tax, and payroll taxes at the relevant tax office.
• Employment laws: Understand the minimum wage, working hours, and social security contributions.
• Trade compliance: Follow import/export regulations if your business involves international trade.

Solutions:

1. Hire a certified accountant: Local accountants are well-versed in Turkish tax laws and can help maintain accurate records and meet deadlines.
2. Stay updated on changes: Regularly check announcements from the Revenue Administration (Gelir İdaresi Başkanlığı) and other regulatory bodies.
3. Use legal support: Consult with lawyers specializing in Turkish business law to review contracts and ensure full compliance.

How Can Global Citizen Solutions Help You?

Global Citizen Solutions is an advisory migration consultancy firm with years of experience delivering bespoke residence and citizenship by investment solutions for international families. With offices worldwide and an experienced, hands-on team, we have helped hundreds of clients worldwide acquire citizenship, residence visas, or homes while diversifying their portfolios with robust investments. 

We guide you from start to finish, taking you beyond your citizenship or residency by investment application.