Major changes have been implemented regarding Work Permit applications for foreign company shareholders in Turkey. Effective from the last quarter of 2024 and fully applicable in 2026, the Ministry of Labor and Social Security has significantly increased the financial thresholds. The “100,000 TL capital rule” is no longer valid; the new minimum paid-in capital requirement is 500,000 TL.
*These figures are based on the updated regulations effective from October 2024.
The “500,000 TL” Capital Rule Explained
To establish a Limited Liability Company (LLC) in Turkey, the commercial code only requires 50,000 TL. However, if you intend to obtain a Work Permit as a shareholder, this amount is insufficient.
The Ministry now requires the company’s paid-in capital to be at least 500,000 TL. If you are forming a new company with the intention of getting a residency/work permit, you must declare and pay at least this amount during the setup phase or increase your capital immediately.
The “5 Turkish Employees” Rule
Despite the financial increases, the employment quota remains the same but strictly enforced. To employ one foreign partner, the company must employ at least 5 Turkish citizens full-time.
📌 The 6-Month Grace Period: For company partners (shareholders), the “5 Turkish Employees” requirement is waived for the first 6 months of the initial work permit. However, you must hire these employees before the renewal application at the end of the first year. If you fail to do so, your renewal will be rejected.
How to Apply for a Work Permit? (Step-by-Step)
The process requires precise coordination between your bank, accountant, and the Ministry.
Capital Deposit: Establish your company with a minimum capital of 500,000 TL. If the company already exists, complete a capital increase procedure.
E-Signature & KEP: Obtain your Registered Electronic Mail (KEP) and E-Signature.
Online Application: Log in to the Ministry of Labor’s system (ecalismaizni.csgb.gov.tr).
Document Submission: Upload the Trade Registry Gazette showing the new capital, tax plate, and shareholder details.
Approval & Payment: Once approved, pay the government fee.
Can My Family Get Residency?
Yes. Once you successfully obtain a Work Permit, you legally become a “supporter” (destekleyici). You can apply for a “Family Residence Permit” for your spouse and children (under 18). They will have the right to live in Turkey for the duration of your work permit.
Sıkça Sorulan Sorular (FAQ)
Does the new 500,000 TL rule apply to existing companies?
If you are renewing an existing work permit, the Ministry generally looks for continuity. However, for new applications or if there is a break in your permit, your company must meet the new 500,000 TL capital or 8 Million TL sales threshold.
Can I just show the capital and withdraw it later?
Technically, the capital belongs to the company and can be used for business expenses. However, the Ministry checks the “Paid-in Capital” status in the Trade Registry. The money must be officially deposited and registered, not just shown in a bank letter.
Does buying a property give me a work permit?
No. Buying property (even for citizenship) grants Residency rights, but it does not grant a Work Permit. A Work Permit is strictly a labor market instrument tied to active business activity and capital investment.
Professional Support for Permits
The gap between the “Company Formation Capital” (50k TL) and “Work Permit Capital” (500k TL) causes many rejections. To avoid wasting time and money, consult with Vergi Merkezi | Mali Müşavirlik before starting your company formation process.
📍 Service Areas: Istanbul, Ankara, Izmir, and Remote.
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Ready to establish or grow your business in Turkey? Contact Vergi Merkezi | Mali Müşavirlik today for a consultation with our expert accountants.
Ministry of Labor and Social Security (CSGB) Regulation: Regulation on the Employment of Foreign Nationals (Uluslararası İşgücü Kanunu Uygulama Yönetmeliği) Date: October 2024 Update
Destekleyici Kaynaklar
Presidency of The Republic of Turkey Investment Office Guide: Work Permits for Foreigners (Financial Criteria)
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