Incorporating a Joint Stock Company in Turkey for Start-ups (2025 Guide)

Planning to launch a start-up in Turkey? Choosing the right company structure is a critical first step. With our up-to-date 2025 guide, explore the full process of incorporating a joint stock company, tax advantages, and key considerations for founders.

Why a Joint Stock Company?

For start-ups in Turkey, the Joint Stock Company (A.Ş.) is the most strategic legal form — particularly for investor readiness, tax optimization, and scalable equity structuring.

• Investor-Ready: Venture capital funds and angel investors prefer the A.Ş. format.
• Easy Share Transfers: No notary requirement, no stamp duty applies.
• Tax Benefits: In the event of an exit, significant personal income tax relief may apply.
• Exit-Compatible: Ideal for IPOs, equity sales, or other scaling strategies.

5-Step Incorporation Process

1. Drafting the Articles of Association: Company name and activity fields are registered through the MERSİS system.
2. Capital Commitment: Minimum capital of TRY 250,000 must be declared. Payment can be deferred for up to 24 months.
3. Trade Registry Registration: After applying to the local Chamber of Commerce, the company is typically registered within 3–5 business days.
4. Tax Registration & Electronic Seal: Tax number is issued and the company is registered for e-invoicing and e-ledger systems.
5. Start of Operations: Bank accounts are opened and accounting and financial systems are activated.

Key Considerations

• Draft a Shareholders' Agreement (SHA) between founders early on.
• Design the cap table in line with planned funding rounds.
• Engage with a financial advisor and legal counsel from day one.

Summary

Establishing a joint stock company (A.Ş.) is the most robust and scalable legal structure for start-ups in Turkey — offering tax efficiency, investor compatibility, and long-term growth flexibility.