What Are The Important Factors to Keep in Mind to Establish a Business in Turkey
                     What Are The Important Factors to Keep 
in Mind to Establish a Business in Turkey?
Turkey is an appealing destination for foreign business people who are 
interested in expanding their business abroad. The main attraction of 
Turkey is its strategic location between Europe and Asia. Istanbul, the 
main city, is the only city in the world that straddles two continents. The 
other cities like Ankara, the capital, Izmir, and Bursa are ideal places 
for setting up companies.
Turkey shares its borders with Greece, Bulgaria, and other countries, 
and it also has access by land and sea to the Middle East. Turkey has 
a young population and a business-friendly environment. Its 
infrastructure and transport system is excellent. Turkey is a high-
demand market with low competition. Investment costs are not high, 
and wages are among the lowest in the region, making it a perfect 
country to invest in and expand your business. 
Let us have a look at some of the factors to consider establishing a 
successful business in Turkey.
What sort of company can I set up?
A foreigner should set up a Limited Liability Company since they have 
sufficient flexibility, tax benefits, and lower personal risk in Turkey. An LLC 
company can be set up as a sole proprietorship. 
Establishing a company in Turkey is not difficult. You do not need to 
be in Turkey personally for the company registration to be completed. A 
local person can establish it with a power of attorney authorization on 
your behalf. There is only minimum paperwork that has to be submitted. 
How much capital should I invest?
The minimum investment for an LLC is 10,000 TL. The amount will have 
to be committed at the time of establishment, either as cash or real 
estate. The amount should be deposited in a bank account, in the 
company’s name, within two years of the company being formed.
 
In the case of a joint-stock company, capital investment is 50,000 TL. 
You should deposit a quarter of the amount in the initial stages of the 
company set up and the remaining in two years.
•Are there any rules about naming the business?
Firstly, the trading name should be original and not be used by any other 
establishment. The name should not be misleading. You should mention the 
kind of business, whether it is construction or textiles, in the name. The 
type of business (LLC, for example) should also be in the name. You cannot 
use words like "Turkiye (Turkish)," Milli (National)," etc., without express 
permission.
•Can I get automatic Turkish citizenship by establishing a business 
in the country?
No, the process is not automatic, but there is an attractive 
citizenship scheme in Turkey. Since 2018 there is added incentive for 
people who invest more than $250,000 in a property. Because of the strong 
trade bonds between Turkey and China, Turkish citizenship for the Chinese 
community has become immensely popular.  Once the property is bought, 
the owner, spouse, and minor children are given citizenship. The property, 
however, cannot be sold for at least three years after purchase.
For more detailed information, it would benefit you to consult with a 
Turkish company formation and registration consultancy service,
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