For many Chinese companies and investors, setting up a company in Turkey is the most important step in moving from "trading" to "operating locally". With a local company you can issue invoices directly in Turkey, take part in tenders, hire staff, rent offices and warehouses, and win the trust of local customers and business partners far more easily. The good news is that Turkey is generally open to foreign investors, and the process of setting up a foreign-owned company is largely the same as for domestic companies. In this article we explain, step by step, how to set up a foreign-owned company in Turkey: preparation and the notarization, apostille and translation of foreign documents; the MERSİS application and drafting the articles of association; signing and registration; then tax registration, electronic systems, the bank account and post-incorporation obligations. By the end you will know clearly what you need at each step.
Preparing to Set Up a Foreign-Owned Company
Before incorporation, some basic questions need answering: Are the shareholders Chinese individuals or a company registered in China? Will the company be wholly foreign-owned or set up with a Turkish partner? Will a limited company or a joint-stock company be preferred? How much will the capital be? Who will be the manager or board members, and who will hold signing authority? These decisions determine the content of all subsequent documents and also affect future capital increases, share transfers and work permit applications. That is why they deserve careful planning at the very start.
The company's trade name and field of activity must also be prepared. The system checks whether the name is available; the field of activity should be written carefully according to your actual business, covering today's activities while leaving room for future growth. The company address is just as important: the company must have a valid address in Turkey; this can be a rented office or, depending on the nature of the activity, a virtual office solution that complies with the legislation. The applicable conditions are determined by current regulations; we confirm each one for you individually.
- Identify the shareholders (individuals or legal entities) and their share ratios
- Choose the company type: limited company or joint-stock company
- Clarify the capital amount and payment method
- Appoint the managers or board members and define signing authority
- Prepare the trade name, field of activity and address
Foreign Documents: Notarization, Apostille and Sworn Translation
The stage that often takes the most time in setting up a foreign-owned company is the foreign documents. If the shareholder is a Chinese individual, a notarized translation of the passport is usually required. If the shareholder is a company registered in China, a document showing the company is active, such as its business registration, a shareholders' or board resolution on setting up a company in Turkey, and a power of attorney for the authorized representative are required. Since China and Turkey are both parties to the Hague Convention, these documents issued in China generally need to be notarized first and then receive an apostille.
Once the documents arrive in Turkey, they are translated into Turkish by a sworn translator and certified by a notary in Turkey. Translation accuracy is critical: the company name, spelling of personal names, dates and scope of authority must match the original document exactly; even a small discrepancy can lead the trade registry office to request a correction. At Yeni İpekyolu (New Silk Road), our Chinese-Turkish sworn translation team completes translation and notarization in parallel, ensuring your documents are accepted the first time. This keeps the incorporation timeline from being extended unnecessarily and the process moving as planned.
How Do You Apply via MERSİS? Tax Number and Pre-Registration
Before the official incorporation application, foreign shareholders (individuals and legal entities) generally need to obtain a tax number from a tax office in Turkey; this number is the basis for logging into the MERSİS system and for subsequent banking procedures. Foreign individuals can apply to the tax office with their passport, while foreign companies submit their certified and translated company documents. Although this step looks simple, the information entered must match all other documents exactly. Otherwise, records will not match in MERSİS or at the bank, and corrections will be needed at later stages.
MERSİS (Central Registry Recording System) is the platform run by the Ministry of Trade that sits at the center of trade registry procedures in Turkey. The incorporation application is started online through this system: the company's name, type, address, capital and shareholder and manager details are entered, and the system generates a draft of the articles of association and an application number. All information must be complete and correct, because it is reflected directly in the official registry records and the Turkish Trade Registry Gazette announcement, and changing it later requires a separate amendment procedure.
What Should You Watch for When Drafting the Articles of Association?
The articles of association are the company's "constitution"; they govern matters such as the trade name, head office address, field of activity, duration, capital and share distribution, management bodies, authority to represent, general assembly rules and profit distribution. MERSİS provides a standard template, but for foreign-owned companies we recommend adapting this template to your own governance needs. For example, which shareholders must approve important decisions, the conditions for share transfers, and the manager's term of office and limits of authority can be clearly stated. Well-structured articles of association eliminate potential uncertainties between shareholders from the very beginning.
Wording the field of activity requires particular expertise. If it is written too narrowly, an amendment to the articles of association will be needed to add a new activity later; if written too broadly, it may be associated with certain sectors that require special permits. For Chinese investors we prepare a comparative Chinese version of the articles of association, so shareholders fully grasp the meaning of each clause and can then sign the Turkish text with confidence. This method both complies with registration requirements in Turkey and greatly simplifies the parent company's internal approval processes in China.
Signing, Capital and Trade Registry Registration: The Company Is Officially Established
After the MERSİS application is complete, the shareholders or their authorized representatives sign the articles of association in person at the trade registry office, or their signatures are certified by a notary. If the signatory does not speak Turkish, a sworn translator must be present. At the same stage, the managers' signature declaration is also prepared; this document is one of the key bases for the company's future dealings with banks and other institutions. A signing process accompanied by a translator ensures the investor fully understands what they are signing and helps the official procedure go smoothly.
Regarding capital, depending on the company type and current regulations, part of the capital may need to be deposited into a blocked bank account before registration or paid within a set period. The applicable ratios and periods are determined by current legislation; we confirm them for you at the start of the project. Once the documents are complete, the trade registry office carries out the registration, the company's details are announced in the Turkish Trade Registry Gazette and the company is officially established; the MERSİS number is also finalized at this stage. Your company has now acquired legal personality in Turkey, and you can move on to tax registration.
Tax Certificate, Electronic Systems and Corporate Bank Account
After registration, the company's details are sent to the tax office, which usually carries out an inspection at the company address to confirm the company actually exists. Once this stage is complete, the company receives its tax certificate (vergi levhası), the core document for issuing invoices and conducting commercial activities. Next, the electronic notification system (e-Tebligat) is activated, a registered electronic mail (KEP) address is obtained and, depending on the company's situation, systems such as e-Invoice and e-Ledger are adopted. Completing these steps in full is important so the company can issue its first invoice on time and communicate with institutions without interruption.
Opening a bank account is one of the stages foreign-owned companies ask about most. Turkish banks carefully assess account applications from companies with foreign shareholders; they usually ask for incorporation documents, the tax certificate, the signature circular, information on shareholders and ultimate beneficial owners, and a description of activities. Presenting a clear business profile prepared in Chinese and Turkish and going to the bank with a consultant who knows the process makes opening the account noticeably easier. Once the account is opened, the capital payment is completed and the company can begin its daily operations.
Post-Incorporation Obligations and Yeni İpekyolu Support
Setting up the company is only the beginning; a series of ongoing obligations follows: keeping the books with a certified public accountant (SMMM) and filing returns such as VAT and withholding on time; SGK (Social Security Institution) workplace registration when hiring staff; and work permit applications for foreign employees. Foreign-owned companies must also report information on foreign direct investment to the Ministry of Industry and Technology in line with the legislation. These procedures follow the periods set by current regulations; when planned in advance, operations run without interruption and your company can focus solely on its business.
Yeni İpekyolu offers Chinese investors a one-stop service for setting up a foreign-owned company in Turkey: document lists and apostille guidance, sworn translation and notarization, the MERSİS application and drafting of the articles of association, accompaniment at signing, tax registration and opening a bank account; followed by accounting, tax returns, SGK and work permit procedures. Our in-house financial advisors and Chinese-Turkish consultants follow the process from start to finish and report every development to you instantly in Chinese. Contact Yeni İpekyolu today to set up your company in Turkey.
Frequently asked questions
Do foreigners need to come in person to set up a company in Turkey?
Not always. Shareholders can have their representatives in Turkey carry out most of the procedures with a notarized and apostilled power of attorney. However, the authorized signatory may be required to be present in person at certain stages, such as opening a bank account; this depends on the bank's practice and current rules.
Why do documents issued in China require an apostille?
China and Turkey are parties to the Hague Convention; an apostille confirms the authenticity of an official document issued abroad so it can be used with official institutions in Turkey. The apostilled document must also be translated into Turkish and certified by a notary.
What is the minimum capital amount?
The minimum capital varies by company type and is set by current legislation; it may be updated from time to time. At the start of the project, we confirm the current amount for you and recommend a capital amount suited to your activities.
When can invoices be issued after the company is set up?
Invoices can be issued once tax registration is complete, the tax certificate has been obtained and the relevant e-Invoice system has been activated. We plan these steps together with the incorporation process to keep waiting time to a minimum.
Does a foreign-owned company need to employ its own accountant?
No. Most small and medium-sized foreign-owned companies work with an external certified public accountant (SMMM). Yeni İpekyolu provides accounting, tax return and SGK services in Chinese through its in-house financial advisor team.