🇹🇷 Annual Compliance — Turkey
Ongoing requirements and costs for maintaining your Turkey company in good standing.
Annual Costs
Key Compliance Requirements
Limited Liability Company (Ltd Şti)
- Annual cost: TRY 30,000 – 80,000 depending on activity and accounting fees
- Required documents: 7 items
Joint Stock Company (AŞ)
- Annual cost: TRY 60,000 – 200,000+ depending on audit requirements and activity
- Required documents: 8 items
Common Compliance Mistakes
Underestimating Turkish Lira currency risk and keeping all funds in TRY
Fix: Open multi-currency accounts from day one. Invoice in USD or EUR where possible, and keep operating reserves in hard currency. Convert to TRY only as needed for local expenses.
Choosing an AŞ when a Ltd Şti would suffice, adding unnecessary cost and compliance
Fix: Unless you plan to list on Borsa Istanbul, raise capital from many investors, or operate in a regulated sector that mandates an AŞ, the Ltd Şti is simpler, cheaper, and sufficient for most businesses.
Failing to appoint a local accountant (Mali Müşavir) from the start
Fix: Turkish tax compliance is complex — monthly VAT returns, quarterly advance tax payments, and annual filings are mandatory. Appoint a certified financial adviser (SMMM) before the company begins trading.
Ignoring the requirement to keep statutory books in Turkish
Fix: All legal books and official correspondence must be maintained in Turkish. Budget for translation and a Turkish-speaking accounting team. This is a legal requirement, not optional.
This content is educational and does not constitute legal or tax advice. Always consult a qualified professional for your specific situation. Data last verified March 2026.