Turkey Market Entry: Playbook (Formation, Banking, MERSIS, Timelines)
- Merih Okuyaz
- Dec 2, 2025
- 2 min read
Informative note: This post is for general information only and does not constitute legal advice.
Who this is for: founders, GCs and ops leads who want a process that works—without drowning in document acronyms.
Outcome: a predictable path from decision → setup → first invoice → steady-state compliance, with fewer surprises.
Five Stage Turkey Market Entry
1.1. Discovery & Scoping
- Align on business model, headcount, and project milestones.
- Map regulatory touchpoints (sector rules, data flows, employment basics).
- Decide the operating triangle: banking, invoicing, payroll.
1.2. Legal Strategy (entity, governance, tax/employment)
- Approve a concise entry plan: entity choice, governance, signing authority, tax/employment implications, sequencing.
- Output: a short strategy you can brief to Finance/HR and execute against.
1.3. Pre-Formation Prep (signing/notary/MERSIS inputs)
- Assign one internal owner; define approvals (who signs what, where).
- Schedule accounting, payroll, bank, landlord (if any).
- Avoid document ping-pong: agree exact sign/scan/notarize paths upfront.
1.4. Company Formation & Tax Registration
- Company/branch formation + tax registration after clean inputs.
- Book your “go-live” checklist now: invoice format, e-invoicing, payroll start—so the entity doesn’t sit idle.
1.5. Post-Formation Cadence
- Kick off governance routines (board notes, signature matrix, policy light-pack).
- Lock a monthly/quarterly compliance rhythm; measure and adjust.
Corporate Bank Account in Turkey: Design It Early
Opening a corporate bank account can be the hardest step to finish remotely—even when everything else is clean. Treat banking as a parallel workstream from day one: KYC artifacts, who will appear in person if required, and sequencing with invoicing and FX policy.
Why this matters: you can form fast, but if banking lags, cash collection and payroll do too.
Legal Basics for Investors
Equal treatment: Foreign investors generally have the same rights and obligations as local investors under the Turkish Commercial Code and Foreign Direct Investment Law.
Company types: JSC, LLC, and partnership types are available; some special JSCs require Ministry of Trade permission before establishment.
MERSIS: Trade registry filings run through the Central Registry Record System (MERSIS).
Capital & banking: For certain company types, at least 25% of subscribed capital must be deposited to a Turkish bank account during establishment.
Registration: Formation is completed at the Trade Registry Directorate; statutory books/records are certified right after registration.
After formation: Expect ongoing tax obligations and data-protection/compliance duties to operate smoothly.
Support & authority: The process can be carried out by proxy (power of attorney).
Incentives & permits: Investors may benefit from government incentives; work permits may be facilitated for qualifying foreign personnel.
Timeline
Written by *Merih Okuyaz (Istanbul Bar Association)**.
This content is for general information only and does not constitute legal advice.*
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