Could you give a summary to set up a business in Turkey?

Turkey’s Foreign Direct Investment Law is based on the principle of equal treatment, allowing international investors to have the same rights and liabilities as local investors. International investors may establish any form of company set out in the Turkish Commercial Code (TCC), which offers a corporate governance approach that meets international standards, fosters private equity and public offering activities, creates transparency in managing operations, and aligns the Turkish business environment with EU legislation as well as with the EU accession process. Equity participation by Turkish nationals is not required, majority or 100% foreign-owned principles are possible. It takes an average of 6,0-7,0 days to start a business, while it is higher for OECD high income countries.

In practice, Joint Stock Corporations and Limited Liability Companies are usually preferred. Foreign companies or individuals can be shareholders.

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