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Fees and timelines in 2024

Fees

payment by instalmentIncorporation costs for a Turkey LLC in year 1 amount to €5,900 and annual company costs in year 2 and thereafter amount to €2,950. Healy Consultants average engagement fees amounts to €17,100 including company registration in Turkey, opening a corporate bank account, VAT registration and all government fees are as detailed in the table below.

Different Turkey entity types Cost Draft invoice
Tax resident LLC €17,100 View invoice PDF
Branch of a foreign company €14,010 View invoice PDF
Representative office €13,210 View invoice PDF
Free zone company €16,460 View invoice PDF

Other fee considerations

Timelines

The average engagement period for registering a company in Turkey is 11 weeks as outlined below:

Service LLC Branch Rep. office Freezone
Engagement planning 1 week 2 weeks 2 weeks 1 week
Company incorporation period 3 weeks 4 weeks 4 weeks 4 weeks
Bank account approval 3 weeks 3 weeks 3 weeks 3 weeks
Corporate internet banking approval 3 weeks 3 weeks 3 weeks 3 weeks
Engagement completion 1 week 1 week 1 week 1 week
Total engagement period 11 weeks 13 weeks 13 weeks 12 weeks

turkey business registration engagement period timeline

  • Preparing a detailed project plan;
  • Our Client confirms the corporate structure;
  • Collecting due diligence from our Client.
  • Our Client signs the corporate bank account opening forms;
  • Healy Consultants prepares a business plan;
  • Healy Consultants visits the bank for interview;
  • The Bank Legal and Compliance Department review and approve the banking application;
  • The Bank Front Office email corporate bank account numbers to our client.
  • The Bank Operations Department mails the internet username and passwords to our Client;
  • Some of our Clients’ request Healy Consultants to activate the internet banking on their behalf.
  • Healy Consultants confirms all Client due diligence is received;
  • Healy Consultants couriers to our Client the complete original company and bank account documents;
  • Our Client completes our web page feedback survey;

Contact us

For additional information on our company registration services in Turkey, please contact our in-house country expert, Mr. Petar Chakarov, directly:
client relationship officer - Petar
  • Mr. Petar Chakarov
  • Senior Manager, Sales and Business Development
  • Get in touch