Limited Company Establishment

Let’s start by talking about the basics that we need to know when we decide to set up a limited liability company. First of all, the situation is not much different for Turkish citizens or foreigners. While the identity information of Turkish citizens is sufficient at the establishment stage, residence permit, if any, and passport, if any, will be sufficient for foreigners. In any case, an incorporation power of attorney and a photograph will be required to complete the incorporation procedures.

We decided to establish the company, when we say we will start tomorrow, we will need a Turkish identity, passport or residence permit documents, an identity card, and a power of attorney for establishment. Meanwhile, company establishment costs may vary from city to city. Registration costs may be different in each city’s chamber of commerce.

Now let’s come to the details we need to determine to establish a company;

1. Adress

For our company, whether it is an apartment in your name or an office for rent, we will definitely need an official address. If the title deed of the house you live in does not belong to you, you must make a rental contract with the landlord (even if this person is a member of your family). If you are not renting from a company, then you will have a withholding payment of 20% of the gross rental amount.

2. Title

Below…. You can make a free choice in the field shown as, but we need to use the Industry and Trade Limited Company pattern afterwards.


(The name selected for the Company will appear in the dotted section and a sector suitable for the main activity of the company will be written right after this name.


The name selected for the company will appear in the blank section and a sector suitable for the main activity of the company will be written immediately after this name. Of course, you also have the opportunity to choose more than one sector. Here we only give general information about what to consider when choosing a title.


3. Capital

When determining the capital of your company, we should consider whether there is a minimum capital requirement to obtain some certificates in the sector in which you want to operate. For example, if there are some minimum capital requirements, such as a minimum capital of 300,000 TL for the R2 certificate in the transportation sector, and a paid-in capital of 100,000 TL, not less than 20% share, in the work permit applications of foreign company partners, we should evaluate this at the very beginning. Otherwise, we will have to pay fees again to the Istanbul Chamber of Commerce for capital increases that will be requested in the future.

Firma sermayesi firma adına açılan banka hesabına yatırılmalıdır.Yani bu ödemeyi kendi şirket hesabınıza yatırmanız gerekiyor. Bu işlemi gerçekleştirmek için süre 24 aydır.24 ay içinde parça parça veya tek seferde sermaye yatırılabilir. Sermaye yatırılırken açıklamada muhakkak “…… şirketi adına …… kişinin sermaye ödemesi” şeklinde bir bilgi verilmelidir

If the number of partners in the company will be more than one, we must determine from the very beginning which partner will have how much capital.

4. Purpose-Subject

It is the 3rd article of the company’s articles of association, which describes the works that your company will do. As a financial advisor, I recommend that you include all the work you plan to do in this article. In short, you should include all the sectors in which you intend to operate in this section. If you keep this section short and then plan to move on to different activities, you will still have to pay fees and notary expenses to the Istanbul Chamber of Commerce.

5. Activity Code

It is a matter related to the main activity you are planning. After determining this, you can choose the most appropriate one among the recommendations among the activity codes prepared by the Revenue Administration. At this point, as a financial advisor, my advice to you is that you should choose an activity code that is compatible with your workplace and the work you do. Otherwise, the officer who comes to your company for the opening roll call may not make a positive assessment.

6. Directorate

If the number of partners is more than one, consider this section. If the number of partners is more than one, there are two types of directorate systems. Individual: partners can represent the company independently of each other with their signatures. Joint: partners must sign for each transaction at the same time. If both partners cannot always come for legal proceedings, do not prefer joint signature. It is not possible to separate the individual and joint selection here for certain works, for example, you do not have a chance to be alone in other joint works in bank transactions. In other words, both individual managers can act alone in the bank accounts of the company, they can sign anywhere to represent the company. For this reason, you should make your decision on this matter by considering many problems that may arise in the future.

7. Foundation Process

After giving your establishment power of attorney, identity, passport or residence permit card and your photo, we will prepare a draft of the articles of association as a result of a detailed discussion about the work you will do. After presenting this to you, it is possible for us to make various revisions. When there is no problem with the articles of association, we will usually make your establishment appointment from the Istanbul Chamber of Commerce within 2 days, and after your company is registered at the end of 2 days, you will have to issue a signature circular on behalf of the company at the notary and give a general ledger power of attorney. As a result of these transactions, your company will start to wait for the work you will do as a newborn 🙂

If you want to talk or consult about your company establishment process, I am ready to answer your questions as a financial advisor in Fatih Aksaray 🙂