The Starting Point: You're Welcome Here
The baseline rule in Türkiye is a straightforward one — foreign individuals and legal entities are free to establish companies, acquire shares in existing businesses, and hold 100% ownership. No forced local partners, no minority caps as a default, no restrictions on which legal form you can use.
Under the Turkish Commercial Code, both joint-stock companies (A.Ş.) and limited liability companies (Ltd. Şti.) can be fully foreign-owned. For the vast majority of sectors and business models, this is the whole story.
Where Exceptions Apply
That said, no country offers completely unrestricted foreign ownership across the board, and Türkiye is no different. In a limited number of sectors — those touching on national security, public order, or strategic state interests — specific ownership caps or authorization requirements apply.
Radio and Television Broadcasting — Foreign shareholders can hold up to 50% in a media service provider. Full foreign ownership is not an option in this sector.
Civil Aviation — For an airline to qualify as a Turkish air carrier, majority shareholding and management control must rest with Turkish citizens. Foreign shareholding is capped at 49%.
Maritime Transportation — Cabotage Rights — The right to transport passengers or cargo between Turkish ports is reserved exclusively for Turkish-flagged vessels where Turkish nationals hold the majority of shares. This restriction applies specifically to coastal routes within Türkiye, not to international shipping.
Private Security Services — Founders must be Turkish citizens, and any foreign shareholding requires approval from the Ministry of Interior.
Defense Industry — Defense-sector companies operate under a different set of rules entirely. Foreign investments require government authorization, and both share transfers and ownership structures are subject to ongoing state supervision.
Real Estate Restrictions for Foreign-Majority Companies — Companies where foreign shareholders hold 50% or more cannot acquire real estate located in military prohibited zones. These restrictions don't affect company ownership itself — they limit where certain companies can purchase property.
The Bottom Line
Türkiye operates on a principle of equal treatment between foreign and domestic investors. Full foreign ownership is legally recognized and genuinely accessible across the broad majority of sectors. The exceptions exist — and they're real — but they're also narrow and sector-specific. For most investors, they simply won't be relevant. Understanding these boundaries early is what allows you to structure your investment correctly from the outset.
