Formation
Sole Proprietorship
The fastest and cheapest way to start. Liability is unlimited; not suitable if you plan to grow.
- Minimum capital
- No statutory minimum
- Paid up at incorporation
- No
- Shareholders
- 1
- Incorporation time
- 1–2 business days
- Foreign ownership
- Restricted
- Commercial activity
- Yes
Who it suits
- Self-employed professionals and one-person service businesses
- Businesses in a testing phase with modest revenue expectations
- Low-risk activities such as e-commerce and content production
Key points
Non-Turkish nationals must first obtain a work permit to establish a sole proprietorship, which is why we usually recommend a limited company to foreign investors.
Advantages
- Can be set up in one business day; no capital requirement
- The lowest formation and closure costs of any option
- Light accounting burden under simplified or business-account methods
Points to watch
- Unlimited personal liability: business debts reach personal assets
- Progressive income tax becomes disadvantageous relative to corporate tax at higher earnings
- No partners, no share transfers, no ability to raise investment
- Not a practical option for foreign nationals because of the work permit requirement
Let's start with a conversation
In a free 30-minute call, let's clarify which company structure and which incentives fit you. Non-binding, but useful.