How Much Does It Cost to Set Up and Run a Company in Turkey? Fees, Taxes, and Ongoing Expenses

Establishing a commercial company in Turkey is an efficient and cost-effective process when executed with an experienced corporate team. Foreign founders evaluating Turkey as an international operational hub often face fragmented estimates that fail to account for statutory registration duties, notary fees, registered address leasing, and ongoing monthly accounting compliance.

At Aurum, we operate under a transparent, all-inclusive turnkey model: we execute the entire company incorporation within 3 business days in Istanbul. Our complete formation package includes VIP airport transfer, executive hotel accommodation for the duration of the setup, sworn translation and personal accompaniment, all Chamber of Commerce and notary fees, execution of the official signature circular, and guaranteed multi-currency corporate bank accounts at both a state-owned bank (VakıfBank) and a premier private commercial bank (Yapı Kredi).

This practical guide provides an itemized analysis of the initial incorporation budget, recurring maintenance expenses, and the financial advantages of launching your Turkish business with Aurum.

1. Initial One-Off Incorporation Expenses

The foundational budget for registering a Turkish corporate entity consists of mandatory state levies, sworn translations, official notary registrations, and registered address procurement.

A. Certified Translations and Notary Formalities

All non-Turkish identification and corporate documents require official sworn translation and notarization before submission to the authorities:

• Passport Translations: We translate and notarize the passports of all foreign founders and appointed company directors immediately upon arrival.
• *Notarial Signature Circular (İmza Sirküleri):* The legal document granting executive authority to the company director to execute contracts, manage company assets, and operate bank accounts. We draft and execute this circular before a Turkish notary public as soon as the Trade Registry certificate is issued.
• Corporate Parent Documents: If the founding shareholder is a foreign corporate entity, our team coordinates the translation, notarization, and verification of the apostilled Articles of Association and Good Standing certificates prior to your arrival.
• Dedicated Sworn Translator: Your personal Aurum assistant attends every notary appointment and official registration meeting with you, ensuring complete clarity and flawless execution.

B. Chamber of Commerce and Trade Registry Fees

Every legal entity in Turkey must register with the regional Chamber of Commerce (in Istanbul, the İstanbul Ticaret Odası - İTO):

• *Trade Registry Filing Fee (Ticaret Sicil Harcı):* The statutory fee for entering the newly formed enterprise into the MERSİS national corporate database.
• *Trade Registry Gazette Announcement (Ticaret Sicil Gazetesi):* The official state publication of the company’s registered Articles of Association.
• *Competition Authority Fee (Rekabet Kurumu Payı):* A statutory national fee of 0.04% calculated on the company’s nominal declared share capital.
• *Corporate Accounting Books Notarization (Defter Açılış Tasdiki):* Notarial certification of the five statutory company ledgers required by commercial law (Journal, General Ledger, Inventory Ledger, Share Ledger, and Board Resolution Book).

C. Registered Tax Address Provision

Every Turkish enterprise must possess a verified corporate address (Vergi Adresi) to complete tax registration:

• *Virtual Office (Sanal Ofis):* The most practical and cost-effective solution for international trade, digital services, software development, and consultancy firms. A virtual office includes formal mail reception, local telephone routing, and modern executive meeting facilities. Aurum provides an accredited virtual office in Istanbul’s premier business districts.
• Physical Commercial Office: Required for businesses planning local warehousing, retail trade, or on-site staff. Physical leases require rental deposits and, when leased from an individual landlord, entail a 20% rental withholding tax (Stopaj).

2. Incorporation Cost Framework

3. Recurring Monthly Corporate Operating Costs

Once registered, a Turkish company becomes an active corporate taxpayer subject to regular operational and accounting requirements.

A. Certified Public Accountant (Mali Müşavir)

Turkish law strictly prohibits commercial enterprises from submitting their own tax declarations; all tax reporting must be handled by an officially certified public accountant (Serbest Muhasebeci Mali Müşavir - SMMM).

• Aurum immediately onboards your company with a licensed accountant from our established network upon incorporation.
• The accountant handles monthly Value Added Tax (KDV) returns, withholding tax declarations (Muhtasar), quarterly provisional corporate tax declarations (Geçici Vergi), and year-end balance sheets.
• Monthly accounting retainers are formalized under a standard professional contract based on your transaction volume and invoicing frequency.

B. Statutory Declaration Stamp Duties (Damga Vergisi)

The Turkish Revenue Administration (Gelir İdaresi Başkanlığı) levies a mandatory state stamp duty on the electronic filing of every official tax declaration. This duty applies even to inactive companies filing nil-return declarations:

• Monthly VAT declaration stamp tax.
• Monthly or quarterly Withholding and SGK declaration stamp tax.
• Quarterly provisional corporate income tax stamp tax.

C. Registered Address Maintenance

Virtual office subscriptions are maintained via monthly or annual payments, ensuring uninterrupted mail forwarding, official inspection compliance, and meeting space availability.

D. Digital Invoicing and Electronic Signature (E-İmza, E-Fatura)

Modern Turkish companies conduct commerce through the national digital invoicing infrastructure. The managing director is equipped with an electronic signature (E-İmza) token, enabling paperless signing and invoice generation from any location worldwide.

4. Annual Statutory Compliance

At the close of each calendar year, Turkish enterprises complete standard statutory requirements:

1. 1*Closing and Renewal Notarization of Accounting Books (Defter Tasdiki):* Corporate ledgers are formally reviewed and notarized for the upcoming operating year.
2. 2*Chamber of Commerce Annual Membership Dues (Oda Aidatları):* Annual corporate membership contributions assessed by the regional Chamber of Commerce.

5. Dual Banking Architecture: VakıfBank and Yapı Kredi

Securing fully functional corporate banking is the most critical milestone for any cross-border enterprise. Independent applicants often encounter protracted compliance delays and requests for large cash deposits when attempting to open accounts alone.

Aurum ensures guaranteed account opening across two complementary banking institutions:

• VakıfBank (State-Owned Bank): Exceptional sovereign security, institutional stability, unrestricted international SWIFT transfers in USD and EUR, and favorable foreign exchange rates.
• Yapı Kredi (Premier Private Commercial Bank): World-class digital and mobile banking platforms, responsive transaction processing, multi-currency corporate debit cards, and streamlined cross-border trade capabilities.

Both accounts are fully established and operational during your 3-day visit to Istanbul. You receive active TRY, USD, and EUR accounts, online banking credentials, and physical corporate debit cards on site.

6. The Aurum All-Inclusive Turnkey Advantage

We eliminate unexpected expenses by offering a complete corporate formation package that covers every necessary step:

1. 1Pre-Arrival Company Preparation: Drafting customized Articles of Association, obtaining MERSİS corporate name reservations, and issuing individual Turkish potential tax numbers.
2. 2VIP Airport Logistics: Private chauffeur meeting you at Istanbul Airport in an executive vehicle with direct transfer to your hotel.
3. 3Executive Hotel Accommodation: Premium hotel lodging in Istanbul arranged for the entire 3-day transaction period.
4. 4Dedicated Personal Assistant: A sworn translator accompanies you to every notary, Chamber of Commerce, and banking appointment.
5. 5Complete Registry and Notary Filings: All government fees, gazette publications, signature circulars, and certified corporate ledgers are handled directly.
6. 6Guaranteed Corporate Banking: Accounts established in both VakıfBank and Yapı Kredi with online banking access and corporate payment cards.
7. 7Accountant Onboarding: Formal introduction and handover to a licensed Turkish accountant (mali müşavir) for ongoing fiscal compliance.

7. Frequently Asked Questions (FAQ)

Is corporate share capital a sunk cost?

No. Corporate share capital is an operational liquid asset belonging entirely to your company. For a Limited Şirket, Turkish law permits the declared capital to be paid into your active corporate bank account within 24 months of registration. Once deposited, these funds can be deployed immediately for business operations, supplier invoices, marketing, and commercial rent.

Does an inactive company still incur monthly accounting fees?

Yes. Turkish fiscal regulations mandate the monthly submission of tax returns regardless of whether the business generated revenue or conducted transactions. An officially licensed accountant must submit nil-return declarations each month to avoid statutory non-filing penalties.

Are there hidden charges during the incorporation process?

When working with Aurum, there are zero hidden fees. All incorporation costs, state duties, translations, executive hotel accommodations, and airport transfers are fixed in advance. After incorporation, ongoing expenses consist strictly of your virtual office subscription, monthly accountant retainer, and statutory declaration stamp taxes.

Why does Aurum open accounts in two separate banks?

Opening accounts in both VakıfBank (state-owned) and Yapı Kredi (private commercial) gives your enterprise strategic flexibility. You benefit from state-backed stability alongside advanced commercial digital banking, ensuring uninterrupted international SWIFT capability and optimized transaction fees.

Conclusion

Incorporating and maintaining a company in Turkey is a transparent and highly efficient investment when supported by Aurum’s turnkey infrastructure. You receive an active legal entity, an accredited corporate address, a dedicated accountant, and guaranteed multi-currency accounts in VakıfBank and Yapı Kredi within 3 business days.

Contact Aurum via WhatsApp or Telegram to receive your custom formation proposal and reserve your dates in Istanbul.