Cost items one by one
| Item | Set by | Note |
|---|---|---|
| Share capital | Presidential Decree No. 7887 | Limited at least TRY 50,000, joint stock at least TRY 250,000. It is equity, not an expense |
| Competition authority fee | Law No. 4054, Art. 39/c | 0.04% of the share capital; paid to the chamber of commerce |
| Trade registry, chamber registration and announcement fees | Tariffs of the relevant year | Updated every year |
| Notary | Notary fee tariff | Signature declarations, powers of attorney, etc. |
| Apostille or consular legalisation | Country of issue | Varies by country |
| Sworn translation | Market | Depends on number of documents and language |
| Advisory | Service provider | Incorporation and first-period accounting services |
The competition authority fee
Under Article 39/c of Law No. 4054 on the Protection of Competition, newly founded joint stock and limited companies pay 0.04% of their founding capital as the competition authority fee. In capital increases, 0.04% of the increase is paid. According to the Competition Authority, these payments have been made to the relevant chamber of commerce (or of commerce and industry) since 1 January 2018.
Example: for a joint stock company with TRY 250,000 capital, the fee is 250,000 × 4/10,000 = TRY 100.
Extra costs when a shareholder is foreign
- Legalisation: apostille or consular legalisation of passports, foreign company documents and powers of attorney
- Translation: sworn Turkish translation of foreign documents and notarisation where required
- Power of attorney: for a representative if the foreign shareholder is not in Turkey
- Tax number: obtaining Turkish tax numbers for foreign shareholders
These amounts depend on the number of shareholders, whether a shareholder is a company and the country where the documents are issued.
Running costs in the first year
- Monthly bookkeeping and tax return services
- Digital infrastructure such as e-invoice, e-ledger and financial seal
- Payroll and social security if staff are employed
- Work permit procedures for foreign employees
- Office or registered address