Indonesia–Turkey Investment Relations
Indonesia and Turkey have a Comprehensive Economic Partnership Agreement (CEPA) signed in 2021, providing preferential trade terms. A bilateral investment protection agreement further safeguards investors. Both countries are G20 members and members of the Organisation of Islamic Cooperation (OIC). Bilateral trade has been growing significantly.
Indonesian investment in Turkey focuses on palm oil, textiles, consumer goods, and Islamic economy sectors. Indonesia and Turkey share strong cultural and religious ties through the OIC. The Indonesia-Turkey CEPA has created new trade opportunities in both markets. Turkish Airlines connects Istanbul with Jakarta, facilitating business travel and cargo.
Can Indonesian Citizens Open a Company in Turkey?
Yes. Citizens of Indonesia can form a company in Turkey with 100% foreign ownership. Turkish law does not require a local partner or Turkish shareholder. Indonesian 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 Indonesian investors — the vast majority of business activities are open to foreign companies without special permissions.
Visa & Work Permit Information
Indonesian citizens can enter Turkey without a visa for stays up to 30 days, or obtain an e-Visa for longer business stays up to 90 days. Work permits require a separate Ministry of Labour application after 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 Indonesian 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 Indonesian Citizens
- Valid passport from Indonesia
- 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 Indonesia, allow additional time.