Glossary
Glossary: Terms for Company Formation & Relocation to Turkey
The most important Turkish and legal terms, explained compactly, with links to the matching guides.
This glossary explains the key terms around company formation, residency, taxes and business relocation in Turkey, from Limited Şirket to Mali Müşavir to the Istanbul Finance Center.
Company formation
- Limited Şirket (LTD)
- The most common company type for foreign founders in Turkey, liability limited to the capital contribution, minimum capital from 50,000 TRY.
- Anonim Şirket (A.Ş.)
- Turkish joint-stock company, suited to larger structures and future listing plans, minimum capital from 250,000 TRY.
- MERSİS
- Turkey's central 16-digit electronic trade registry system, every company receives its registration number there.
- Mali Müşavir
- Turkish financial/tax advisor, comparable to but not identical with a German Steuerberater, legally required for every company.
- Vekaletname
- A notarized power of attorney that allows many formation steps to be completed without being personally present in Turkey.
- Ticaret Sicili Gazetesi
- The official trade registry gazette in which every newly formed company is officially published.
Residence & relocation
- İkamet İzni
- Turkish residence permit, there are several types, including short-term, family, long-term and student permits.
- e-İkamet
- The online portal of the Turkish migration authority for residence permit applications.
- Turkuaz Kart
- A privileged, indefinite residence and work status for investors, executives and sought-after specialists.
- SGK
- Turkey's social security institution, where employees, including in your own company, are registered.
Taxes & incentives
- Kurumlar Vergisi
- Turkish corporate tax, current standard rate 25%, reduced for certified manufacturers and in special zones.
- Serbest Bölge
- Turkish for free zone, an economic area with full corporate-tax exemption on export earnings.
- Teknopark
- Technology development zone with corporate-tax exemption on R&D, software and design earnings.
- Non-Dom-Regelung
- New 20-year exemption on foreign-source income for individuals who were not Turkish tax residents in the past 3 years.
Business relocation
- Istanbul Finance Center (İFM)
- Turkey's central financial district in Ataşehir/Ümraniye with its own additional tax incentives for regional HQs and financial service providers.
- Katılımcı Belgesi
- The participant certificate, the formal access requirement for the tax benefits in the Istanbul Finance Center.
- Relocation Blueprint
- Your personal TÜRKİYEOS document with readiness score, roadmap, costs and next steps for your relocation.
Bank account
- Vergi Numarası
- Turkish tax ID, free at the tax office or online with your passport, a prerequisite for any bank account and any company formation.
- İmza Sirküleri
- Notarized signature circular proving who is authorized to represent a company, required among other things to open a company bank account.
- Devisenkonto (Fremdwährungskonto)
- A bank account in a foreign currency such as EUR or USD, usually offered by Turkish banks alongside the lira account.
Employees & accounting
- e-İzin
- The Turkish Ministry of Labour's online portal for work permits for foreign employees, not to be confused with e-İkamet for residence permits.
- Kıdem Tazminatı
- Turkish severance pay, calculated based on years of service and capped at a maximum amount adjusted twice a year.
- e-Defter / e-Fatura
- Electronic bookkeeping (mandatory since 2025 for practically every balance-sheet-based company) and e-invoicing (mandatory from roughly 3 million TRY prior-year revenue).
- MUHSGK
- The combined monthly filing for payroll tax and social security (SGK) with the Turkish authorities.
- KVKK / VERBİS
- Turkey's data protection law (KVKK) and its data-controller register VERBİS, formal registration is only mandatory above certain thresholds such as more than 50 employees.
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