When establishing a company with foreign partners, you must apply for a work permit for foreign partners and foreign managers of the company. The company must meet the following conditions in order to obtain a work permit.
According to the new law, joint stock companies and limited liability companies not domiciled in Turkey and their foreign partners eliminates the requirement of a work permit if there is no authority in these companies.
Foreigners may establish a company in Turkey, or over 100% shareholder can or not less than 40% (for a work permit), can any company’s partner.
The Company’s paid-in capital must be at least 100,000 TL or its gross sales amount should be at least 800,000 TL or the export amount of the last year must be at least 250,000 USD.
At least 5 (five) Turkish nationals must be employed for each foreign partner in the company requesting work permit. For foreign company partners requesting a work permit, it is required that there will be five Turkish employees in the last six months of the 1st year of the work permit. If more than one foreigner is required to work in the same company, 5 (five) Turkish Citizens must be employed for each foreigner after the first foreign employee who has obtained the work permit.
Work permits are not required for foreign partners during the establishment of the company and can be applied later.