India–Turkey Investment Relations
India and Turkey have a Bilateral Investment Promotion and Protection Agreement (BIPPA) to encourage and protect cross-border investments. Both countries are also members of the G20 and have growing trade relations, with bilateral trade volumes increasing steadily in recent years.
Indian investment in Turkey has grown significantly, particularly in the IT services, textiles, pharmaceuticals, and chemicals sectors. Indian companies see Turkey as a gateway to European and Middle Eastern markets. Key investment hubs include Istanbul and Izmir. The India-Turkey CEO Forum promotes bilateral business opportunities.
Can Indian Citizens Open a Company in Turkey?
Yes. Citizens of India can form a company in Turkey with 100% foreign ownership. Turkish law does not require a local partner or Turkish shareholder. Indian 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 Indian investors — the vast majority of business activities are open to foreign companies without special permissions.
Visa & Work Permit Information
Indian citizens can apply for an e-Visa or sticker visa to enter Turkey. Business visa processing is generally straightforward. Work permits require a separate application through the Ministry of Labour after company formation.
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 Indian investors is the Limited Liability Company (LLC / Ltd. Şti.).
LLC (Ltd. Şti.)
- Min. 10,000 TRY capital
- 1–50 shareholders
- Simple management structure
- Best for SMEs and service businesses
Joint Stock (A.Ş.)
- Min. 50,000 TRY capital
- 1+ shareholders (no upper limit)
- 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 Indian Citizens
- Valid passport from India
- 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 India, allow additional time.