Opening a company in Türkiye: locals, foreigners, freelancers and digital nomads

At a glance: Limited Şirket (Ltd. Şti.) with TRY 50,000 minimum capital (about 1,000 euros) payable within 24 months, registered through MERSIS and the trade registry in 1 to 3 days once documents are ready, 25 percent corporate tax, 20 percent VAT with no registration threshold, Digital Nomad Identification Certificate for remote workers earning USD 3,000 a month. Legal forms. Sole trader (şahıs işletmesi, or serbest meslek erbabı for professionals): tax office registration only, no capital, unlimited liability. Limited company (Limited Şirket, Ltd. Şti.): one to 50 shareholders, minimum capital TRY 50,000 since 1 January 2024 (about 1,000 euros), nothing paid before registration and the whole payable within 24 months; at least one manager (müdür), who may be a non-resident foreigner. Joint stock company (Anonim Şirket, A.Ş.): minimum TRY 250,000 (about 5,000 euros), a quarter paid before registration. Registration. Everything starts in MERSIS (Central Registry System): draft the articles online, obtain tax numbers for foreign shareholders, then sign the articles and the managers' signature declarations before the Trade Registry Office (Ticaret Sicil Müdürlüğü) at the chamber of commerce; foreign documents need apostille and sworn translation, a founder abroad signs by notarised power of attorney. Costs: registry, chamber and Trade Registry Gazette fees about TRY 15,000 to 25,000 (300 to 500 euros); a law firm charges 1,000 to 3,000 euros for a foreign-owned company. Total excluding capital about 500 to 3,500 euros. Taxes 2026. Corporate income tax 25 percent (30 for banks and financial institutions), with a 5-point reduction on export profits and 1 point for manufacturers. Dividends 15 percent withholding for individuals and foreign shareholders since December 2024, reduced by treaties to 5 to 15; branch remittances also 15 percent. VAT 20 percent (10 and 1 reduced) with no registration threshold: every business files VAT from its first invoice. Personal income tax 15 to 40 percent, the 40 percent band starting at TRY 5,300,000 (about 105,000 euros) in 2026; residents (more than six months) are taxed on worldwide income, but new residents can claim a 20-year exemption on foreign-source income under Law 7582 of 2026. Freelancers and the self-employed. Professionals register at the tax office as serbest meslek erbabı; corporate clients withhold 20 percent income tax on fees, VAT is charged from day one and income tax is paid on the progressive scale with quarterly advances. Social security (Bağ-Kur, status 4/b) is mandatory: 34.5 percent of declared earnings from the gross minimum wage of about TRY 39,600, so about TRY 11,700 to 13,700 a month (240 to 280 euros). Foreigners. The Foreign Direct Investment Law of 2003 gives 100 percent foreign ownership with no local partner, no resident manager and no extra capital; limits remain in broadcasting (49 percent). A foreign manager or shareholder who works in the company needs a work permit from the Ministry of Labour (one year, then two and three; it counts as residence): five Turkish employees per foreign worker, waived for the first six months for shareholder-managers; a non-working non-resident director needs no permit. The founder need not be present with a notarised power of attorney, but banks want the manager in person; opening takes days to two weeks. Branch of a foreign company. A branch (şube) registers through MERSIS and the trade registry on apostilled parent documents, a board resolution, allocated capital and a fully authorised representative resident in Türkiye. It is taxed at 25 percent on Turkish-source profits plus 15 percent withholding on remittances to head office, and files VAT like any company. A limited company subsidiary is the usual choice. Digital nomads. Yes: the Digital Nomad Identification Certificate (Dijital Göçebe Kimlik Belgesi), launched by the tourism ministry in April 2024, is open to citizens of the EU, the EEA, the UK, the US, Canada, Australia aged 21 to 55, a remote employment contract or proof of self-employment serving clients abroad, health insurance and income of at least USD 3,000 a month or USD 36,000 a year (about 2,600 euros a month). The certificate is free and issued online; it then supports a one-year short-term residence permit from the Presidency of Migration Management with the normal card fees. Stays over six months make you tax resident, though the 20-year foreign-income exemption for new residents may apply. Changed recently. Minimum capital raised to TRY 50,000 for limited and TRY 250,000 for joint stock companies (1 January 2024); Digital Nomad Identification Certificate (April 2024); dividend and branch remittance withholding raised from 10 to 15 percent (22 December 2024); Law 7582 with the foreign-income exemption for new residents (June 2026). Figures checked October 2026 from MERSIS and the Union of Chambers (TOBB), the Revenue Administration, the Presidency of Migration Management and PwC and Turkish law-firm pages; thresholds and fees change yearly. Confirm with a licensed adviser in Türkiye before you file.