Setting up a limited company in Ankara involves preparing the articles of association, the MERSİS application, trade registry registration and tax registration. We explain the documents, capital and cost items, the timeline and what to do after formation.
To set up a limited company in Ankara, the articles of association are prepared through MERSİS (the Central Registry System), the founders sign at the Ankara Trade Registry Directorate or a notary, the company is registered and its tax record is opened automatically. This is followed by the tax office inspection, certification of the books and e-document applications. If the documents are ready, registration usually takes a few working days and the whole process about a week.
Starting a business with partners, planning for growth or looking for tax advantages as your earnings rise are the most common reasons for setting up a limited company in Ankara. A limited company can be set up even with a single partner, is subject to corporate tax and, as a rule, limits the partners’ liability to their capital commitment. In this guide we explain the steps of setting up a limited company in Ankara, the required documents, the capital requirement, the cost items and what needs to be done afterwards.
Who is a limited company suitable for?
A limited company is usually a better structure for businesses whose earnings exceed a certain level, that work with partners, serve corporate clients or plan to raise investment in the future. To see the differences from a sole proprietorship in figures, read our article Sole Proprietorship or Limited Company?
Documents required to set up a limited company
- Identity details of the partners and managers (passport and potential tax number for foreign partners)
- Articles of association prepared through MERSİS
- Signature declarations of the manager and partners
- Lease agreement or title deed for the business premises
- Formation notification form and documents on the capital commitment
- Bank receipt showing that the Competition Authority fee has been paid
The list may vary depending on the partnership structure and whether capital is contributed in kind (such as property or vehicles). If in-kind capital is contributed, additional valuation procedures are required.
Setting up a limited company in Ankara step by step
- Preliminary planning: Partnership shares, manager, capital amount, scope of activity and company name are decided.
- MERSİS registration: The articles of association are prepared through the Central Registry System and an application number is obtained.
- Competition Authority fee: The fee calculated on the capital is paid to the bank.
- Signing and application: The founders sign the articles at the Ankara Trade Registry Directorate and submit their signature declarations.
- Registration and announcement: The company is registered, announced in the Turkish Trade Registry Gazette and registered with the Ankara Chamber of Commerce.
- Tax record and inspection: The tax record is created from the MERSİS data; the tax office inspects the business premises.
- Books and e-documents: Opening certification of the statutory books or the e-Ledger application, and e-Invoice/e-Archive setup are completed.
- Social security registration: If staff will be employed, the workplace is registered with the social security institution.
How much capital is needed?
Under the Turkish Commercial Code, the minimum capital for limited companies is 50,000 TL following the latest amendment; for joint-stock companies it is 250,000 TL. In a limited company, cash capital contributions can, as a rule, be paid within 24 months of registration, so it is not mandatory to pay in all the capital at formation.
The capital amount affects not only the legal minimum but also your credibility in the eyes of banks and business partners. As minimum capital amounts are updated from time to time, always confirm the current amount before formation.
What are the formation cost items?
| Item | Description |
|---|---|
| Trade registry fees and charges | Official fees paid for registration and announcement |
| Chamber of commerce registration fee | Entry to the Ankara Chamber of Commerce and annual dues |
| Competition Authority fee | Calculated on the capital amount |
| Notary costs | May be needed for signature declarations and book procedures |
| Financial advisor’s service fee | Formation process and initial setup |
| e-Documents and financial seal | If e-Invoice/e-Ledger will be used |
As official fees are updated every year, it is best to calculate the exact amount on the formation date.
How long does the formation process take?
Approximate durations (working days, if documents are complete)
Approximate values; registry workload and missing documents may extend the process.
What to do in the first month after formation
- Opening the company bank account and planning capital payments
- Setting up invoicing; informing customers if you are within the e-Invoice scope
- Filing staff start notifications on time, if you have employees
- Adding the first VAT and withholding tax filing periods to your calendar
- Recording money movements between the partners and the company
We have collected the returns you will file from the first months in our Tax Return Calendar article. For e-document obligations, take a look at our e-Ledger and e-Invoice Guide.
How are the company name and scope of activity chosen?
A limited company’s name must include the words “Limited Şirketi” and an expression indicating the company’s field of activity. The name must be chosen so that it cannot be confused with another company, and it must pass the suitability check in MERSİS.
The scope of activity (the purpose and subject clause) determines what the company can do. A scope written too narrowly leads to amendment costs when starting a new activity later; one written too broadly can raise doubts in some official procedures. A balanced scope of activity is one of the most important steps of formation.
Social security status of partners and the manager
Limited company partners are, as a rule, insured under 4/b (Bağ-Kur) because of their partnership. This is evaluated separately if some partners also work under 4/a in another job; when two statuses arise at the same time, priority rules apply.
If the company will employ staff, the workplace is registered with the social security institution and employees’ start notifications are filed before they begin work. To see payroll costs in advance, use our gross–net salary calculator. We explain all social security procedures on our social security services page.
Limited or joint-stock company?
A joint-stock company suits businesses with high growth ambitions, thanks to easy share transfers and the possibility of attracting investors and going public. On the other hand, its minimum capital is higher, and part of the capital must be paid before registration. For most small and medium-sized businesses, a limited company is a more practical start in terms of cost and ease of management.
Common mistakes during formation
- Writing the scope of activity in a hurry: Every activity added later means amendment costs and lost time.
- Leaving the manager’s powers vague: Not stating representation and signing powers clearly causes problems in banking transactions.
- Not putting the partners’ agreement in writing: Profit shares, division of duties and exit conditions should be discussed from the start.
- Not checking the suitability of the address: A problem during the inspection delays the tax certificate.
- Choosing the accountant after formation: Formation decisions directly affect your tax position.
The financial calendar of the first year
For limited companies, the first year is when routines are established. VAT and withholding tax returns are filed every month; social security notifications are made if there are employees. A provisional tax return is prepared every three months. At the end of the year an inventory is taken, the balance sheet is prepared and the corporate tax return is filed in April of the following year. In addition, an ordinary general assembly meeting must be held at least once a year and its resolutions entered in the books.
Planning this calendar with your financial advisor in the first year both protects you from penalties and makes your cash flow predictable. For detailed dates, see our Tax Return Calendar article.
Frequently asked questions
Can a limited company be set up by one person?
Yes. A limited company can be set up with a single partner, who can also be the company manager.
Do you have to pay in all the capital to set up a limited company?
No. In a limited company, cash capital contributions can, as a rule, be paid within 24 months of registration. The payment plan is set out in the articles of association.
How many days does it take to set up a limited company in Ankara?
If the documents are complete, registration is usually done in a few working days; together with the inspection, books and e-documents, your company is ready to operate in about a week.
Can a limited company be set up at a home address?
It is possible for some activities, but the residential management’s permission and the nature of the activity matter. A virtual office is also a frequently chosen alternative.
What is the liability of partners in a limited company?
As a rule, partners are liable up to the capital they have committed. However, remember that there are special rules on the liability of partners and managers for public receivables (tax and social security debts).
Can I convert my sole proprietorship into a limited company?
Yes. It is possible to transfer the sole proprietorship to a limited company, or to set up a new limited company and move the activity to it. Which route is more advantageous is assessed based on the business’s assets and tax position.
When can I issue invoices after setting up a limited company?
You can issue invoices once trade registry registration is complete and your tax record is opened. If you will use e-Invoice or e-Archive, applying for them together with the formation ensures your first sale is not delayed.
Final word
Setting up a limited company is a process that runs quickly and smoothly when planned correctly. Making decisions such as the scope of activity, capital and partnership structure correctly from the start saves you from amendment and change costs later.
At Ankara Muhasebecim, we handle the company formation process for you from our office in Kızılay, from MERSİS to the tax office inspection, and we stay by your side after formation with our accounting service. Contact us for an initial meeting.
Ask our advisor for an assessment tailored to your situation.
