Contacts
What this office does
Role of the office. The Istanbul office is in particular demand among clients who consider Turkey as an interim or permanent business jurisdiction when leaving other markets.
How the work is organised. The office is a point of local presence, not a separate practice. Every matter is led by a partner from the head team, who is personally responsible for the result and coordinates the work across all the jurisdictions involved.
How exactly we help here
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Turkish citizenship through investment: requirements and process
Threshold amounts are set by type of investment. Since June 2022, the minimum threshold for Turkish citizenship through a property purchase has been $400,000 (previously $250,000). The alternative grounds (a bank deposit, government bonds, a stake in a real estate investment fund or venture capital fund, or the creation of fixed capital) are each set at $500,000.
The holding period requirement. For all types of investment, the asset must be held for at least 3 years. For property, this condition is recorded by a direct annotation (şerh) in the land registry that prohibits sale before the period expires.
The procedure. Once the investment is confirmed, the relevant authority (for property, the General Directorate of Land Registry and Cadastre) issues a certificate of compliance (uygunluk belgesi). A residence permit is then arranged, and the application for citizenship is submitted to the Ministry of the Interior. The whole process usually takes several months.
Turkish citizenship obtained this way permits dual citizenship without restriction for most applicants, including Russian citizens, as Turkey does not require renunciation of an existing nationality.
How to register a company in Turkey: an A.Ş. or a Ltd. Şti.
The timeframes below are indicative. They depend on the structure of the founders and on the bank that will open the account, and we agree the exact schedule at the consultation.
Choosing the legal form
An Anonim Şirket (A.Ş., a joint-stock company) and a Limited Şirket (Ltd. Şti., a limited liability company) both allow a sole founder. The difference lies mainly in how shares are transferred: A.Ş. shares pass more easily, while Ltd. Şti. shares require notarisation and registration in the trade registry on every change of owner. Timeframe: 1-3 days.
Tax number and constitutional documents through MERSİS
Each foreign founder, whether an individual or a legal entity, obtains a Turkish tax number in advance. The company’s articles are prepared in the electronic MERSİS system before the documents are filed with the trade registry (Ticaret Sicil Müdürlüğü). Timeframe: 3-5 days.
Paying in the share capital and registration
The minimum share capital is 50,000 Turkish lira for a Ltd. Şti. and 250,000 Turkish lira for an A.Ş. In addition, on registration 0.04% of the amount of capital is transferred to the account of the Competition Authority (Rekabet Kurumu), a mandatory, if small, payment. Timeframe: 5-7 days.
Tax registration and enrolment in the social insurance system
After registration in the trade registry, the company receives its own tax number and is registered with the local tax office. If employees are hired, registration with the social security system (SGK) is required before the first employee actually starts work. Timeframe: 3-5 days.
Tax residence of an individual in Turkey
These are general parameters of the Turkish tax system, not personal advice. We confirm how they apply to a specific situation at a meeting.
Currency control and convertibility of the lira in cross-border payments
The lira is freely convertible, but not for all types of contract. Turkey has no currency restrictions in the classic sense: the lira is freely exchangeable, and foreign investors may freely repatriate profit and capital through the banking system at the rate on the date of transfer under Foreign Direct Investment Law No. 4875. At the same time, Decree No. 32 on the Protection of the Value of the Turkish Currency and subsequent presidential decisions restrict the use of foreign currency pricing in a number of contracts between Turkish residents, in particular lease agreements for real estate, contracts for the sale of movable property and employment contracts, with a number of exceptions.
Exceptions for a foreign element. The restriction on foreign currency pricing does not apply if at least one party to the contract is a non-resident of Turkey, or if the contract is financed in foreign currency from abroad. That is why a transaction with a foreign counterparty or investor can usually keep its currency link where it would be prohibited for purely Turkish parties.
Declaring cash at the border. The physical transfer of cash, whether Turkish lira or foreign currency, above the set threshold across the Turkish customs border must be declared. The rule applies on both entry and exit and is calculated in equivalent terms for each person crossing the border.
Frequently asked questions
Is it true that residency in Turkey can be obtained by buying property?+
Yes, provided the investment threshold is met. We support the whole process, from choosing the property to filing the residency documents.
How predictable is Turkish law for foreign business?+
It requires careful support. The legislation changes more often than in European jurisdictions, so it is important to check regularly against current requirements rather than rely on a one-off consultation.
Do you help with relocating a business to Turkey as a whole, and not only with registration?+
Yes, from registering the legal entity to questions of employees’ residence and the tax residence of the company itself.