Russia–Turkey Investment Relations
Russia and Turkey have a bilateral investment treaty that provides mutual protection for investors. Both countries are members of the G20 and maintain significant economic cooperation, particularly in energy and tourism sectors. The TurkStream natural gas pipeline project exemplifies the deep energy ties between the two nations.
Russian investment in Turkey has been substantial, particularly in tourism, real estate, energy, and construction sectors. The Mediterranean coast has a large Russian-speaking business community. Bilateral trade between Russia and Turkey exceeds $60 billion annually, driven primarily by energy imports. Russian investors benefit from Turkey's position as a tourism and trade bridge between Europe and Asia.
Can Russian Citizens Open a Company in Turkey?
Yes. Citizens of Russia can form a company in Turkey with 100% foreign ownership. Turkish law does not require a local partner or Turkish shareholder. Russian 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 Russian investors — the vast majority of business activities are open to foreign companies without special permissions.
Visa & Work Permit Information
Russian citizens can enter Turkey without a visa for stays up to 60 days within a 90-day period. This visa-free regime facilitates business travel for company formation activities and ongoing management. Work permits are processed through the Ministry of Labour following the standard application procedure.
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 Russian 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 Russian Citizens
- Valid passport from Russia
- 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 Russia, allow additional time.