Spain–Turkey Investment Relations
Spain and Turkey have a bilateral investment protection agreement and benefit from the EU-Turkey Customs Union, providing tariff-free access for industrial goods. Spain is a growing trade partner for Turkey with bilateral trade exceeding €7 billion annually.
Spanish investment in Turkey spans retail, construction, renewable energy, and professional services. Spanish companies see Turkey as a strategic production base for the MENA and European markets. The Spanish Chamber of Commerce in Turkey facilitates business connections and market entry.
Can Spanish Citizens Open a Company in Turkey?
Yes. Citizens of Spain can form a company in Turkey with 100% foreign ownership. Turkish law does not require a local partner or Turkish shareholder. Spanish 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 Spanish investors — the vast majority of business activities are open to foreign companies without special permissions.
Visa & Work Permit Information
Spanish citizens do not require a visa for Turkey for stays up to 90 days within a 180-day period. Work permits must be applied for through the Ministry of Labour for business residents. Spanish investors may also qualify for Turkish residence permits through their 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 Spanish 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 Spanish Citizens
- Valid passport from Spain
- 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 Spain, allow additional time.