Short answer: To form a limited or joint stock company in Ankara you need the shareholders' identity details, articles of association prepared on MERSİS, signature declarations of the founders and managers, receipts for the capital and Competition Authority share payments, and a lease agreement or title deed for the business address. The application is made to the Ankara Trade Registry Directorate; after registration, the tax office inspection, e-Notification and social security registrations are completed.
Company formation can be completed within a few days when it follows the right order. Most delays come from missing or inconsistent documents. In this guide, we at Ankara Muhasebeci share the checklist we use when preparing a formation file, the differences between company types and the steps after registration.
Below you will find a comparison of company types, the document list, the formation steps, cost items and short answers to common questions.
First decision: which company type?
The document list depends on the company type. The most common choices are the limited company (Ltd. Şti.) and the joint stock company (A.Ş.); for a one-person business, a sole proprietorship is set up instead. We compare the options in sole proprietorship or limited company and explain sole proprietorship formation in how to set up a sole proprietorship.
| Topic | Limited company | Joint stock company |
|---|---|---|
| Minimum capital | TRY 50,000 | TRY 250,000 |
| Capital payment | Can be paid within 24 months of registration | At least 25% of cash shares paid before registration |
| Number of shareholders | Can be formed with one shareholder | Can be formed with one shareholder |
| Management | Manager or board of managers | Board of directors |
| Share transfer | Notarised agreement and general assembly approval | Relatively easier |
Amounts and ratios depend on current legislation; confirm the up-to-date figures before applying.
Documents required for company formation
- Identity details: Turkish ID numbers of shareholders and officers; for foreign shareholders, passport and a potential tax number.
- Articles of association: prepared on MERSİS, covering trade name, address, activities, capital and management.
- Signature declaration: specimen signatures of authorised representatives, issued at the trade registry or a notary.
- Founders' declarations: statements required by the trade registry depending on company type.
- Competition Authority share receipt: proof that the share calculated on the capital has been paid.
- Capital blocking letter (joint stock): bank letter for the cash capital to be paid before registration.
- Address document: lease agreement or title deed for the business premises.
- Manager acceptance: if a non-shareholder manager is appointed, their declaration of acceptance.
Step-by-step formation
- Type, name and activities: choose the company type, check the trade name and define the activities.
- MERSİS application: enter the articles of association and formation details on MERSİS.
- Capital and Competition Authority share: make the required bank payments.
- Registration: sign and submit the documents at the Ankara Trade Registry Directorate.
- Tax and social security: tax office inspection, e-Notification address and, if hiring, workplace registration with SGK.
What should the articles of association cover?
The articles are the company's constitution, and every later change requires a new registration. Pay attention to:
- Scope of activity: include activities you plan for the near future, not only today's.
- Representation: state clearly who can represent the company alone or jointly.
- Capital and shares: define each shareholder's share and payment schedule.
- Registered address: even a move between districts in Ankara may require registration.
The standard MERSİS template suits most companies. Writing down dividend distribution, transfer restrictions and exit rules at the outset helps prevent disputes between shareholders.
After registration
- Tax office inspection: registration details are sent to the tax office; after inspection, the tax certificate can be downloaded online.
- e-Notification: mandatory for corporate taxpayers.
- Bank account: a commercial account is opened; for a limited company, capital can be paid into it.
- e-Invoice and e-Ledger: plan the transition according to your obligations. See e-Invoice vs e-Archive.
- Social security: register the workplace before the first hire. Our first employee payroll checklist helps here.
Cost items to budget for
Formation costs are the sum of several items. Because amounts change every year and depend on capital, we do not quote figures; just include these in your budget:
- Trade registry and registration fees
- Competition Authority share, calculated on capital
- Notary and signature declaration costs
- Ankara Chamber of Commerce registration fee
- Statutory books and e-Transformation costs
- Financial advisory fee for preparing the file
Capital itself is not an expense; it remains a company asset used in operations.
Foreign shareholders
If a shareholder is a foreign individual or company, the list grows: a notarised Turkish translation of the passport, a potential tax number from the tax office and, for a corporate shareholder, a certificate of activity for the parent company. Documents issued abroad need an apostille or consular approval, which can take time, so plan the formation calendar accordingly. Foreign shareholders who cannot attend in person can act through a representative with a notarised power of attorney, which also needs to be prepared and, if issued abroad, legalised in advance.
Common mistakes
- Writing the scope of activity too narrowly and needing an amendment later
- A business address that does not match the lease agreement
- Signature declaration powers that conflict with the articles
- Going into the tax office inspection unprepared
Changes in shareholders, address or capital after formation also require registration; see our company changes and liquidation service.
Frequently asked questions
How much capital is needed for a limited company?
The minimum capital for a limited company is TRY 50,000 and it can be paid within 24 months of registration. Confirm the current amount before applying, as it can change.
How much capital is paid upfront in a joint stock company?
At least 25% of the nominal value of shares subscribed in cash is paid before registration; the rest can be paid within 24 months after registration.
Where do I apply in Ankara?
The application is prepared on MERSİS and registration is completed at the Ankara Trade Registry Directorate within the Ankara Chamber of Commerce.
How long does company formation take?
With complete documents, registration is usually quick. Total time depends on the name check, payments and the timing of the tax office inspection.
Can a company be registered at a home address?
Yes, if the address can be used for business and is supported by a lease or title deed. Building management rules and the type of activity should also be considered.
Can a foreigner form a company in Turkey alone?
Yes. Both limited and joint stock companies can be formed with a single shareholder, who may be a foreign individual, provided the additional documents are prepared.
Conclusion
What determines the timeline is a complete and consistent document set. Choosing the right company type, drafting the articles with the future in mind and planning the tax and social security steps in advance let you start operating smoothly. Formation is the first and most lasting step in a company's life. Trade name, activities and management can be changed later, but each change costs time and money, so a few extra days of planning pay off.
At Ankara Muhasebeci, we handle the whole process from preparing the formation file to the post-registration tax inspection. See our company formation page or get in touch.
