Canada–Turkey Investment Relations
Canada and Turkey have a Foreign Investment Promotion and Protection Agreement (FIPA) that entered into force in 2009. The agreement provides Canadian investors with national treatment, most-favored-nation status, and dispute resolution through international arbitration. Bilateral trade between Canada and Turkey has been growing steadily, exceeding $3 billion annually.
Canadian investors in Turkey operate primarily in mining, energy, infrastructure, and technology sectors. Turkey's mineral-rich geography and growing energy market attract Canadian expertise. The Canada-Turkey Business Council facilitates trade and investment cooperation between both countries.
Can Canadian Citizens Open a Company in Turkey?
Yes. Citizens of Canada can form a company in Turkey with 100% foreign ownership. Turkish law does not require a local partner or Turkish shareholder. Canadian nationals receive equal treatment under the Turkish Commercial Code, with the same rights and obligations as Turkish-owned companies.
There are no sector restrictions specific to Canadian investors — the vast majority of business activities are open to foreign companies without special permissions.
Visa & Work Permit Information
Canadian citizens can obtain an e-Visa for Turkey online, valid for short stays up to 90 days within a 180-day period. Business activities including company formation meetings are permitted under the e-Visa. Work permits require a separate application through the Ministry of Labour after the company is registered.
Foreign shareholders who do not intend to work or reside in Turkey do not need a work permit or residence permit to own a company. However, if you plan to actively manage your Turkish company from Turkey, a work permit is legally required.
Recommended Company Type
The most common structure among Canadian investors is the Limited Liability Company (LLC / Ltd. Şti.).
LLC (Ltd. Şti.)
- Min. 50,000 TRY capital
- 1–50 shareholders
- Simple management structure
- Best for SMEs and service businesses
Joint Stock (A.Ş.)
- Min. 250,000 TRY capital
- 1+ (no limit) shareholders
- Board of directors required
- Best for large-scale or IPO-track businesses
Branch Office
- No separate legal entity
- No minimum capital
- Extension of parent company
- Best for companies testing the market
Requirements for Canadian Citizens
- Valid passport from Canada
- Turkish tax identification number (vergi numarası)
- Registered business address in Turkey
- Notarized Articles of Association (in Turkish)
- Minimum share capital deposit at a Turkish bank
- Power of attorney (if forming remotely without visiting Turkey)
Formation Process
- Consultation — Choose your company type, define business activities, and plan your structure
- MERSIS Pre-Registration — Enter company details in Turkey's central registry system
- Articles of Association — Draft, notarize, and sign (or via power of attorney)
- Bank Account & Capital Deposit — Open a Turkish bank account and deposit at least 25% of capital
- Trade Registry — File with the local Trade Registry Office
- Tax & Social Security — Register with the tax office and SGK
- Work Permits — Apply if foreign managers or employees will be based in Turkey
The process typically takes 5–10 business days once all documents are prepared. If documents need apostille or consular legalization from Canada, allow additional time.