Sweden–Turkey Investment Relations
Sweden and Turkey have a bilateral investment protection agreement and benefit from the EU-Turkey Customs Union. Sweden joined NATO in 2024 alongside improved diplomatic relations with Turkey. Bilateral trade between Sweden and Turkey is growing, with Swedish exports including machinery, vehicles, and pharmaceutical products.
Swedish companies in Turkey operate primarily in telecommunications, manufacturing, retail, and cleantech sectors. Swedish multinationals including Ericsson, IKEA, and Volvo have established presence in Turkey. Sweden's NATO membership alongside Turkey has opened new channels for bilateral business and defense industry cooperation.
Can Swedish Citizens Open a Company in Turkey?
Yes. Citizens of Sweden can form a company in Turkey with 100% foreign ownership. Turkish law does not require a local partner or Turkish shareholder. Swedish 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 Swedish investors — the vast majority of business activities are open to foreign companies without special permissions.
Visa & Work Permit Information
Swedish citizens do not require a visa for Turkey for stays up to 90 days within a 180-day period. Work permits must be obtained from the Ministry of Labour for business residents. Swedish entrepreneurs may also qualify for Turkish residence through 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 Swedish 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 Swedish Citizens
- Valid passport from Sweden
- 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 Sweden, allow additional time.