Set Up a Joint Stock Company in Turkey | Guide for Foreigners 2026

How to Set Up a Joint Stock Company in Turkey: A Complete Guide for Foreign Investors

Turkey offers significant opportunities for international entrepreneurs, investors and companies seeking to establish a business presence between Europe, Asia and the Middle East. For foreign investors planning a larger-scale operation, seeking a corporate structure suitable for future growth, or considering investment and shareholder expansion, a Joint Stock Company (JSC) can be an important option.

A Turkish Joint Stock Company is commonly referred to as an Anonim Şirket (A.Ş.). It is a separate legal entity and one of the principal capital company structures available under Turkish law. However, establishing a company in another country involves more than completing registration documents. Foreign investors may need to consider the company's legal structure, shareholding model, registered office, management structure, tax registration, accounting obligations, banking arrangements and, depending on the business, customs and import-export procedures.

This guide explains how to set up a Joint Stock Company in Turkey as a foreigner, the main steps involved in the incorporation process, the documents and decisions that should be prepared, and the practical matters foreign entrepreneurs should consider before starting operations. If you are planning to establish an Anonim Şirket in Turkey, we can help you set up your company on a turnkey basis, while also assisting with virtual office solutions, accounting, tax compliance, corporate bank account procedures and customs brokerage requirements.

Can a Foreigner Set Up a Joint Stock Company in Turkey?

Yes. Foreigners can establish a Joint Stock Company in Turkey. Depending on the nature of the investment and the applicable legislation, foreign investors may establish and participate in Turkish companies under the legal framework applicable to foreign direct investment and commercial companies.

In practice, the incorporation process must still be properly planned. Foreign shareholders and directors may need to provide documents originating outside Turkey, and these documents may require additional procedures such as notarization, apostille certification or consular authentication, as well as certified Turkish translations where applicable.

The exact documentation depends on whether the shareholder is:

A foreign individual,
A foreign corporate entity,
A company with multiple foreign shareholders,
A corporate group establishing a subsidiary or other Turkish business structure.

For this reason, foreign investors should ideally review their documentation before beginning the company registration process.

Minimum Capital for a Joint Stock Company in Turkey

Capital is one of the most important issues when establishing an Anonim Şirket. Under the current capital requirements applicable to newly established Joint Stock Companies in Turkey, the minimum capital is TRY 250,000.

The appropriate capital amount, however, should not be selected solely by focusing on the statutory minimum. Foreign entrepreneurs should also consider the real financial requirements of the planned business. For example, the company may need funding for:

Office expenses,
Employees and payroll,
Inventory,
Equipment,
Software and technology,
Marketing,
Import operations,
Initial operating expenses,
Professional services,
Working capital.

The company's legal minimum capital and the actual amount required to finance the business are different matters. A company may legally meet the minimum capital requirement while still requiring additional financial resources to operate effectively.

For cash capital commitments, statutory rules regarding the timing of capital payments should also be considered. Under the general rules applicable to Joint Stock Companies, part of the committed cash capital must be paid before registration, while the remaining balance may be paid within the legally prescribed period following registration. The capital structure should therefore be planned together with the company's expected operational budget.

Step 1: Decide Whether a Joint Stock Company Is the Right Structure

Before starting the incorporation process, foreign entrepreneurs should first determine whether a Joint Stock Company is the most suitable structure for their business. A Joint Stock Company may be attractive where the investor wants:

A share-based corporate structure,
A structure suitable for future investment,
A company with multiple shareholders,
A more institutional corporate framework,
A business structure designed for long-term expansion,
A separate legal entity for conducting commercial activities in Turkey.

However, every business has different requirements.

A small service business, for example, may have different structural needs from an import-export company, manufacturing operation, technology startup or investment vehicle.

Before incorporation, the following questions should be considered:

Who will own the shares?
What percentage of the company will each shareholder own?
Will new investors join the company later?
Who will manage the company?
Who will have authority to represent the company?
Will the company import or export goods?
Will employees be hired in Turkey?
Does the business require a physical office or other licensed premises?
Are any sector-specific permits required?

Answering these questions before incorporation can help create a company structure that is better aligned with the investor's business strategy.

Step 2: Determine the Shareholders and Shareholding Structure

A Turkish Joint Stock Company can be established with a single shareholder.

Where there are multiple shareholders, the ownership structure should be determined before the articles of association are prepared.

The founders should agree on issues such as:

The total company capital,
The number and nominal value of shares,
Each shareholder's shareholding percentage,
The capital contribution of each shareholder,
The proposed management structure.

For foreign investors, the shareholding structure should also be considered from a long-term perspective.

For example, an entrepreneur who plans to introduce an investor later may wish to consider the future ownership structure from the beginning. Similarly, business partners establishing a company together should think carefully about how corporate control and management responsibilities will operate.

A well-planned incorporation structure can make future corporate transactions easier to manage.

Step 3: Choose the Company Name

Every company must have a registered trade name.

The proposed company name should comply with Turkish commercial registry requirements and be assessed for availability and suitability before the incorporation application is finalized.

Foreign entrepreneurs often choose a company name that is already part of an international brand or corporate group. In these cases, the relationship between the Turkish company name, existing trademarks and the global corporate identity should be considered carefully.

When selecting a trade name, it is useful to evaluate:

Commercial registry requirements,
The company's intended field of activity,
Existing branding,
Trademark strategy,
Domain name availability,
International usability of the name.

The company name is not merely an administrative detail. For a foreign investor entering a new market, it can become part of the company's long-term commercial identity in Turkey.

Step 4: Determine the Company's Business Activities

The company's planned activities should be identified before the incorporation documents are prepared.

For example, the company may operate in areas such as:

International trade,
Import and export,
Consulting,
Software and technology,
Manufacturing,
E-commerce,
Wholesale,
Retail,
Logistics,
Marketing,
Professional services.

The intended business activities should be reflected appropriately in the company's incorporation documentation. Foreign investors should also investigate whether their planned activity requires:

A special license,
A ministry approval,
A municipal workplace license,
A sector-specific authorization,
A professional permit,
Additional registrations.

A company can be incorporated as a legal entity, but certain business activities may still require additional permits before actual operations begin. For this reason, foreign entrepreneurs should not assume that company registration alone automatically authorizes every type of commercial activity.

Step 5: Arrange a Registered Office Address in Turkey

A Turkish company requires a registered address. The appropriate address solution depends on the company's business model and legal requirements. Some companies need a physical operational location, warehouse, shop, factory or office. Other businesses may initially need a professional office solution while establishing their presence in Turkey.

We can also assist foreign entrepreneurs with virtual office rental and registered office solutions.

A virtual office may be an appropriate solution for certain businesses, provided that the planned activity and applicable legal requirements allow this type of address arrangement.

However, the suitability of a virtual office should always be assessed according to the nature of the business. Companies requiring a factory, warehouse, licensed commercial premises or another specific physical location may need a different solution.

The registered office should therefore be selected as part of the overall incorporation and operational planning process.

Step 6: Prepare the Articles of Association

The Articles of Association are among the most important documents in the incorporation of a Joint Stock Company.

This document establishes the fundamental corporate framework of the company.

It generally includes matters relating to:

The company name,
The registered office,
The company's business purpose,
The capital,
Shares and shareholding structure,
Capital commitments,
The board of directors,
Corporate representation,
Other mandatory and relevant corporate provisions.

For foreign entrepreneurs, the Articles of Association should be prepared with the actual ownership and management model in mind. A company with one shareholder and one director may require a relatively straightforward structure. A business with several international investors, however, may need more detailed planning regarding governance and corporate decision-making. Using a generic approach without considering the actual business model may create unnecessary difficulties later.

Step 7: Complete the MERSİS Incorporation Procedures

Company incorporation procedures in Turkey involve the Central Registry Record System (MERSİS). The relevant company information and incorporation details are prepared through the applicable electronic registration process.Accuracy is important at this stage. Information relating to the company's:

Name,
Address,
Shareholders,
Capital,
Shares,
Directors,
Representation authority,
Business activities

should be consistent with the intended corporate structure and the incorporation documentation.

Errors or inconsistencies may delay the registration process.

For foreign shareholders, document preparation should ideally begin early, particularly where documents need to be obtained abroad, legalized or translated.

Step 8: Prepare the Documents Required from Foreign Shareholders

The documentation required for a foreign investor depends on the shareholder's legal status. A foreign individual may generally need to provide relevant identification and passport documentation, together with other documents required for the incorporation procedure.

Where documents originate outside Turkey, additional procedures may be required. Depending on the document and the country in which it was issued, this can include:

Apostille certification,
Consular legalization,
Notarization,
Certified Turkish translation.

If the shareholder is a foreign company rather than an individual, the documentation can be more extensive.

Corporate shareholders may need to provide documents demonstrating matters such as:

The foreign company's legal existence,
Its current corporate status,
Its authorized representatives,
Its decision to establish or participate in the Turkish company,
The authority of the person signing the relevant documents.

The exact requirements should be checked based on the investor's specific country and corporate structure.

Early document planning is especially important because obtaining apostilles, legalizations or corporate resolutions abroad can take time.

Step 9: Appoint the Board of Directors and Determine Representation Authority

A Joint Stock Company must have a board of directors. The company's management and representation structure should be determined during incorporation. Foreign investors should decide:

Who will serve as a board member,
Who will represent the company,
Whether representation authority will be exercised individually or jointly,
Whether more than one authorized signatory will be appointed.

These decisions have practical consequences.

For example, the representation structure can affect the company's ability to:

Sign commercial contracts,
Open and manage bank accounts,
Enter into transactions,
Execute import and export procedures,
Sign applications and official documents.

For a foreign-owned company, it is particularly important to create a representation structure that balances operational efficiency with appropriate corporate control.

Step 10: Complete Capital Payment and Registration Requirements

Once the incorporation structure and documentation have been prepared, the applicable capital payment requirements and registration procedures must be completed. As noted above, the timing of capital payments is governed by the relevant statutory rules. Foreign investors should plan these requirements in advance, particularly when funds are transferred internationally.

The incorporation process then proceeds through the relevant commercial registry procedures.Once the company is registered with the Trade Registry, the Joint Stock Company obtains its legal personality.

The registration process is a critical milestone, but it is not necessarily the final step before the company becomes fully operational. Foreign entrepreneurs may still need to complete post-incorporation procedures relating to tax, accounting, banking, employment or sector-specific requirements.

Step 11: Set Up Accounting and Tax Compliance

Establishing a company is only the beginning of its corporate life in Turkey.

After incorporation, the company must meet its ongoing financial and tax obligations according to the applicable legislation and the nature of its activities.

Depending on the company and its operations, this may involve:

Bookkeeping,
Accounting records,
Tax declarations,
Financial reporting,
VAT-related obligations,
Electronic invoicing and other electronic document systems where applicable,
Payroll accounting,
Social security procedures,
Periodic statutory filings.

We assist foreign-owned companies with accounting and tax services after incorporation.

This can be particularly valuable for entrepreneurs who do not live in Turkey or who want their Turkish accounting and tax obligations to be managed by a professional team.

For international businesses, accounting communication in English and clear reporting can also make it easier for foreign shareholders and managers to understand the company's financial position and compliance obligations. The accounting structure should ideally be planned before the company begins issuing invoices and conducting regular commercial transactions.

Step 12: Open a Corporate Bank Account in Turkey

A corporate bank account is an important operational requirement for most businesses. After the company is incorporated, banking procedures must be completed according to the requirements and internal compliance policies of the relevant bank.

Banks are independent institutions, and their documentation and compliance requirements may differ. Foreign shareholders or foreign-owned companies may be subject to additional know-your-customer and compliance reviews. For this reason, opening a corporate bank account should not be treated as a purely automatic step.

We assist our clients with the corporate bank account opening process and help coordinate the required procedures and documentation.

However, the final decision regarding account opening always belongs to the bank. Banks may assess the company, shareholders, source of funds, business model and expected transactions according to their own policies and applicable compliance rules. Proper preparation can nevertheless help ensure that the company presents its business activities and documentation clearly.

Step 13: Get Support for Customs and Import-Export Operations

Turkey can be an important location for businesses engaged in international trade.

If the newly established Joint Stock Company will import or export goods, the company may need to establish an operational structure appropriate for customs procedures and international trade transactions.

Depending on the nature of the business, matters such as:

Customs declarations,
Import procedures,
Export procedures,
Customs documentation,
Product-specific regulations,
Tariff classification,
Customs brokerage

may become relevant.

We can help connect and coordinate your company with customs brokerage services and assist you in navigating the practical requirements of import and export operations.

A foreign investor planning to trade internationally should ideally discuss customs requirements before beginning commercial shipments. Company incorporation, tax registration and customs operations should be considered as connected elements of the overall business setup.

We Set Up Your Company in Turkey on a Turnkey Basis

Foreign entrepreneurs often prefer a coordinated approach rather than dealing separately with multiple service providers. We set up your company in Turkey on a turnkey basis.

Our objective is to help foreign investors manage the company establishment process in a coordinated and practical manner.Depending on your needs, we can assist with:

Joint Stock Company incorporation in Turkey,
Company structure planning,
Incorporation documentation,
MERSİS procedures,
Commercial Registry procedures,
Registered office and virtual office rental,
Accounting services,
Bookkeeping,
Tax compliance,
Tax declarations,
Financial reporting,
Payroll and related accounting processes,
Assistance with corporate bank account opening procedures,
Coordination regarding customs brokerage,
Guidance for import-export business operations.

Instead of treating company registration as an isolated transaction, we can help foreign entrepreneurs plan the broader infrastructure needed to operate a business in Turkey.

This is particularly useful for investors who are establishing their first business in the Turkish market.

Frequently Asked Questions About Setting Up a Joint Stock Company in Turkey

Can a foreigner own 100% of a Joint Stock Company in Turkey?

A Joint Stock Company may generally be established with a single shareholder, and foreign investors can participate in Turkish companies subject to applicable laws and sector-specific restrictions. The specific business activity should always be checked for any special ownership or licensing requirements.

What is the minimum capital for a Joint Stock Company in Turkey?

For newly established Joint Stock Companies, the current minimum capital requirement is TRY 250,000. The appropriate capital for the business may be higher depending on the company's operational and investment requirements.

Do I need a Turkish partner to establish a company?

Foreign entrepreneurs do not generally need to add a Turkish partner merely to establish a Turkish company. However, sector-specific rules should be reviewed where applicable.

Can I use a virtual office for my Turkish company?

A virtual office may be suitable for certain businesses. Whether it is appropriate depends on the company's planned activities and any specific legal or licensing requirements applicable to the business. We can assist clients in finding and arranging appropriate virtual office solutions.

Can you help with accounting after my company is established?

Yes. We provide ongoing assistance with accounting, bookkeeping, tax compliance, tax declarations and financial reporting for companies operating in Turkey.

Can you help open a corporate bank account?

Yes. We assist clients with the corporate bank account opening process and coordinate the relevant procedures and documentation. The final account-opening decision remains subject to the bank's own compliance and internal approval process.

Can you help if my company will import or export goods?

Yes. We can assist with the broader business setup and help coordinate customs brokerage support for companies engaged in import-export activities.

Can you establish my company on a turnkey basis?

Yes. We can set up your company in Turkey on a turnkey basis and assist with the incorporation process as well as related services such as virtual office rental, accounting, tax compliance, corporate banking procedures and customs brokerage coordination.

Conclusion: Start Your Turkish Joint Stock Company with Professional Support

Setting up a Joint Stock Company in Turkey as a foreigner can be a strategic step for international entrepreneurs who want to establish a long-term business presence in the Turkish market. The incorporation process involves important decisions concerning the company's capital, shareholders, shares, business activities, management structure, registered address and representation authority. For foreign investors, additional planning may also be necessary for overseas documents, translations, legalization procedures and post-incorporation operations.

Most importantly, the company should be structured not only for registration but also for the way it will actually operate. We set up Joint Stock Companies in Turkey on a turnkey basis for foreign entrepreneurs and investors. From the initial incorporation process to virtual office rental, accounting, tax services, assistance with corporate bank account opening and coordination with customs brokers, we help clients establish the practical infrastructure required to start and operate their business in Turkey.

If you are considering setting up an Anonim Şirket in Turkey, professional planning from the beginning can help you establish your company with a structure aligned with your investment and business objectives.

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