Singapore–Turkey Investment Relations
Singapore and Turkey have a bilateral investment protection agreement to encourage and protect cross-border investments. Both countries are significant trade hubs — Singapore in Southeast Asia and Turkey in the MENA/European corridor. Turkey and Singapore are also exploring an FTA under broader trade cooperation initiatives.
Singaporean investment in Turkey focuses on financial services, logistics, technology, and trading sectors. Turkey's position as a logistics hub between Asia and Europe is attractive to Singapore-based trading companies. Istanbul's financial ecosystem and the Istanbul Financial Center attract Singaporean financial institutions seeking MENA market exposure.
Can Singaporean Citizens Open a Company in Turkey?
Yes. Citizens of Singapore can form a company in Turkey with 100% foreign ownership. Turkish law does not require a local partner or Turkish shareholder. Singaporean 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 Singaporean investors — the vast majority of business activities are open to foreign companies without special permissions.
Visa & Work Permit Information
Singapore citizens can enter Turkey without a visa for stays up to 90 days within a 180-day period. This visa-free access facilitates business travel and company formation activities. Work permits require a separate application through the Ministry of Labour after company registration.
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 Singaporean 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 Singaporean Citizens
- Valid passport from Singapore
- 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 Singapore, allow additional time.