What Determines the Cost of Setting Up a Company in Turkey? An Item-by-Item Breakdown

The cost of setting up a company is the total of the official fees, service charges and formation expenses paid for a limited liability or joint stock company to be registered and start operating. The main factors that determine this total are the company type, the amount of capital, whether the shareholders are local or foreign, and the address from which the company will operate. Since the Law on Fees (Harçlar Kanunu) exempts the formation transactions of capital companies from fees, most of the bill consists not of taxes and fees but of service and preparation costs.

In this article we break the formation budget into seven cost items, show the difference between a limited liability company and a joint stock company in a table, and explain why capital is not counted as an expense. For official items with fixed amounts, we give the rate. For items that vary by chamber, notary and service provider, we explain what you should look at instead of giving a figure.

What does the cost of setting up a company depend on?

The cost of setting up a company depends on four variables: company type, size of capital, nationality of the shareholders and choice of address. Because the minimum capital and formation formalities are higher for a joint stock company, the budget usually turns out larger than for a limited liability company. If there is a foreign shareholder, apostille, translation and power of attorney items are added.

These variables also affect one another. For example, increasing the capital increases the Competition Authority fee, which is calculated on capital; but this increase remains small. What really makes the difference is which tasks you handle yourself and which you carry out with professional support.

The question we hear most often from our clients is “how much will it cost in total?” The honest answer is that there is no single figure. The same type of company is set up with different budgets in Istanbul and in Ankara, in its own office and in a virtual office, and with Turkish or foreign shareholders.

To see the picture a little more broadly, it also helps to look at the market. According to KOSGEB’s January 2026 report on businesses opened and closed , based on TOBB data, 113,779 companies were established in Turkey in 2025. According to the same report, of the 11,232 companies and cooperatives established in January 2026, 90.2% were limited liability companies and 8.8% joint stock companies. In other words, the vast majority of those doing cost calculations are drawing up a limited liability company budget.

Which official charges are not collected at formation?

No trade registry fee and no stamp duty on formation documents are charged when capital companies are formed. Article 123 of the Law on Fees No. 492 exempts the formation, share transfer and capital increase transactions of joint stock companies, partnerships limited by shares, limited liability companies and cooperatives from the fees under the Law. Similarly, Table (2) attached to the Stamp Duty Law No. 488 exempts documents issued for the formation of these companies from stamp duty.

This exemption is the most misunderstood part of the budget. The “trade registry fee lists” circulating online mostly show the amounts for transactions such as opening a branch, registering amendments or deregistration. These fees are not paid on formation registration; however, service charges other than fees and the announcement fee are still payable.

The Republic of Türkiye Ministry of Trade’s commercial companies and trade registry procedures page also explicitly states the fee exemption and the Competition Authority payment receipt required at formation. When preparing your formation file, we recommend comparing the current list on this page with your own structure.

7 cost items that make up the cost of setting up a company

The seven items below cover almost all of the costs included in the budget for forming a limited liability or joint stock company. The order is close to the order in which payments arise during the formation process. This way you can also plan how much cash you will need at which stage.

1. Competition Authority fee

Under Article 39 of Law No. 4054 on the Protection of Competition, newly established joint stock and limited liability companies pay the Competition Authority four ten-thousandths of their capital. This corresponds to 0.04% of the capital. Since 1 January 2018, the payment can be made directly at trade registry offices, and the receipt is included in the registration file.

The calculation is simple. The fee is 20 TL for a limited liability company with capital of 50,000 TL, and 100 TL for a joint stock company with capital of 250,000 TL. Here is a fictitious example: a joint stock company formed with capital of 1,000,000 TL pays a Competition Authority fee of 400 TL. In other words, this item will not be decisive in your decision to increase the capital.

2. Trade registry service charges and announcement fee

Although no fee is charged, the chamber to which the trade registry office is attached collects service charges for formation transactions. The announcement of the formation in the Turkish Trade Registry Gazette is also charged separately. Since the announcement fee is generally based on the announcement text, an unnecessarily long articles of association can increase this item.

The company also registers with the chamber to which the trade registry is attached. Under Law No. 5174, chambers charge a registration fee and annual dues; amounts may differ from chamber to chamber and according to the company’s capital. Adding the first year’s dues to your formation budget helps you avoid surprises later.

Update (October 2026): Under the provision added to Law No. 5746 by Law No. 7582 (Official Gazette, 4 June 2026), companies established in line with the Ministry of Industry and Technology’s definition of a digital company by entrepreneurs who have qualified as incubation entrepreneurs under Law No. 4691 are exempt from the fees and dues in Article 24 of Law No. 5174 for up to three years from their date of formation. This exemption only covers companies that meet the stated conditions.

3. Notary, signature and power of attorney costs

The articles of association of a limited liability company are signed in the presence of authorized staff at the trade registry office; in a joint stock company, the founders may sign at the registry or have their signatures certified by a notary. Since the signature declaration must be issued only at the trade registry office, no notary cost arises for this document. Notary costs arise mainly for powers of attorney, the authorization resolution of a corporate shareholder and translation certifications.

If one of the founding shareholders cannot be present at the registry on the day of formation, the power of attorney to be given to the representative adds another item to the budget. Notary fees are subject to an official tariff and vary according to the type of document and the number of pages.

4. Apostille and sworn translation for foreign shareholders

In formations with foreign shareholders, the cost of opening a company increases noticeably because of document preparation. A power of attorney, passport copy, the corporate shareholder’s registry record and the competent body’s resolution issued abroad must bear an apostille or consular legalization, depending on the country. The sworn translation of these documents into Turkish and their notarization are also charged separately.

Part of this item is paid outside Turkey, in the shareholder’s own country. For this reason, when presenting a budget to a foreign investor, showing the two currencies and the transactions in both countries together is the approach that inspires the most confidence.

5. Commercial books and opening certification

The opening certification of the commercial books of joint stock and limited liability companies is performed by trade registry offices during formation. The share register and the general assembly meeting and minutes book are kept in both types, and the board of directors resolution book in joint stock companies. The cost of the physical books and the certification fee fall under this item.

The journal, general ledger and inventory book, on the other hand, are handled differently depending on whether you fall within the scope of the e-Ledger. If you will use the e-Ledger, you need to add software and storage costs to the budget instead of physical books.

6. Address, financial seal and e-transformation

The company’s registered office must be an address where notifications can be received and that is accepted in the on-site inspection by the tax office. If you rent your own office, the deposit and first rent make up this item; if you use a virtual office, the annual service fee does. For premises rented from an individual, the company will be required to withhold tax on rent payments, so the lease agreement should also be checked from this perspective.

After registration, a financial seal or a qualified electronic certificate (e-signature) is obtained for electronic filings and e-transformation applications. For applications such as e-Invoice and e-Archive, an annual software fee may arise depending on whether you choose a private integrator or the Revenue Administration (GİB) portal. Since the obligation to switch is set by communiqués according to turnover and sector, it is sensible to plan this item in the year of formation.

7. Accounting and formation advisory services

The last item is the professional service that handles the formation and the accounting afterwards. This fee varies depending on who handles tasks such as drafting the articles of association, the MERSİS (Central Registry System) application, appointment and document follow-up, and the opening procedures with the tax office and the Social Security Institution (SGK). Getting the monthly accounting service from the same team as the formation makes it easier to ensure the first returns after registration go smoothly.

When comparing quotes, we recommend looking not only at the total figure but also at the scope. One quote may include the draft articles of association, banking procedures or checking foreign documents, while another may bill them separately.

The difference between the cost of setting up a limited liability company and a joint stock company

The table below compares the cost of setting up a limited liability company with forming a joint stock company across the same items. For proportional items and items set by law, we give figures. For items that vary by chamber, notary and service provider, we show the direction of the difference.

The minimum capital amounts in the table were set by Presidential Decree No. 7887 for companies established as of 1 January 2024. If you would like to examine the capital and management structure of a joint stock company in detail, see our what is a joint stock company article.

Why is the cost of setting up a Ltd. company more predictable?

The cost of setting up a Ltd. company is easier to plan thanks to the low cash requirement before registration. Since the entire capital can be paid within 24 months after registration, there is no amount that must be deposited at the bank on the day of formation. This flexibility gives a comfortable start, especially to small and medium-sized businesses that want to protect their cash flow in the first months.

The unpaid portion of the capital remains as the shareholder’s debt to the company. Scheduling the settlement of this debt within the 24-month period prevents problems later during a capital increase or share transfer.

When does the cost of setting up a joint stock company increase?

As capital grows, the cost of setting up a joint stock company may change not only by the amount of the Competition Authority fee but also in terms of legal obligations. The Attorneys’ Act No. 1136 requires joint stock companies whose share capital is five times or more the amount stipulated in Article 272 of the Turkish Commercial Code (TTK) to retain a contracted lawyer. This obligation is not a cost at formation but one that continues throughout the life of the company.

For some fields of activity, permission from the Ministry of Trade or the approval of the relevant authority is required for formation. These permit processes require both time and an advisory budget; you should clarify whether your field of activity is subject to permission before formation.

Is capital an expense item?

No, capital is not an expense; it is the value the shareholders contribute to the company, which becomes part of the company’s assets after registration. In a joint stock company, the amount blocked before registration is released for the company’s use after registration and can be used for operating expenses. In a limited liability company, the capital becomes usable as it is transferred to the company account within the 24-month period.

This distinction requires thinking of the budget in two separate columns. The first column is non-recoverable formation costs: the Competition Authority fee, registry and announcement charges, notary, books, address and advisory services. The second column is the capital that goes into the company’s own coffers. Mixing the two columns makes formation look much more expensive than it is.

Setting the capital slightly above the legal minimum is also a matter of choice. The company’s equity may be taken into account in matters such as bank loans, contracts with corporate customers or work permit applications for foreign staff. We have explained all the formation steps in order in our how to set up a company guide.

Common mistakes when calculating the cost of opening a company

The most common mistake we see in the field is not including the recurring costs of the first year in the formation budget. Chamber dues, the monthly accounting fee, e-transformation software and the address service continue to be paid every month or every year after the registration date. Taking these items into account for the first 12 months prevents a cash squeeze after formation.

Other common mistakes are:

• Adding the fee tables for branch or amendment registration to the formation budget without knowing about the fee exemption
• Writing an unnecessarily long articles of association and increasing the announcement fee
• Having translation and certification done twice because foreign documents arrived without an apostille
• Defining the field of activity too narrowly and incurring a new registration cost for an amendment to the articles of association shortly afterwards
• Treating capital as an expense and setting it below the actual need

What these mistakes have in common is thinking of formation as a one-off payment. A company that is set up correctly, however, is largely protected from additional registration, correction and repeat costs in its first year.

How do you draw up the formation budget step by step?

To draw up the budget, first clarify the company type and the capital; the Competition Authority fee is calculated from these two pieces of information. Next, determine whether the shareholders will be present at the registry on the day of formation, because the need for a power of attorney and translation depends on this. Finally, choose your address and accounting options and add the recurring costs for the first 12 months.

• Step 1: Determine the company type and the amount of capital.
• Step 2: Calculate the Competition Authority fee as 0.04% of the capital.
• Step 3: Obtain the registry service charge, announcement fee, registration fee and annual dues from your chamber.
• Step 4: List the notary, translation and apostille needs according to your shareholder structure.
• Step 5: Add the costs of books, financial seal and e-transformation.
• Step 6: Calculate the amount for the first 12 months for the address and accounting service.

When you fill in this list with your own information, you arrive at a much more solid figure for the cost of setting up a company than an estimate. If you would like us to handle the formation of a limited liability company in Turkey end to end, our limited liability company formation service covers all the steps from the articles of association to the SGK registration. You can find our other articles on formation regarding company types, branches and foreigners in our Company Formation in Turkey category.