Set Up a Foundation in Turkey

If you want to open a foundation in Turkey (Vakif), this article can help you with useful information. The conditions for establishing a foundation, as well as the law provisions, are detailed below. We remind our international customers that they have the support of our Turkish lawyers at their disposal during the incorporation process.

Types of foundations in Turkey

In Turkey, private and state foundations can be established, as specified in the Foundation Law. However, depending on who establishes them and what their purpose is, Turkish associations are further divided into:

• asset-based foundations;
• member-based foundation;
• family-sponsored foundations;
• company-sponsored foundations;
• foundations for raising funds.

The state foundations are, in fact, governmental entities in Turkey. As for the private foundations, these are non-governmental organizations (NGOs) that can be established by foreign citizens/private individuals living in Turkey or locals. Turkish foundations are based on the assets held by the settlers, while the associations are founded by members for varied social reasons/objectives. Assistance in opening a foundation in Turkey as a foreign citizen can be provided by our Turkish attorney. The same specialist can guide you throughout the formalities of obtaining residency in Turkey before starting the business as a foreign entrepreneur.

Requirements to set up a foundation in Turkey

An individual or a Turkish company must have the minimum assets set each year by the Foundations Council (reported as TRY 5,000,000 for 2026) to open a foundation here, and there is no maximum amount. The money must be kept in Turkish banks owned by the state, while the managers of the foundations must have financial qualifications. In terms of documents for opening a foundation in Turkey, this information is useful:

• the foundation agreement is known as the Articles of Foundation, and it is signed in front of a notary in Turkey;
• filling the foundation deed is done through the civil court of first instance and the central registry of the Directorate General of Foundations. This authority also issues specific approvals/permissions in order for a foundation to start operating.

Considering these aspects, all that remains is to collaborate with our attorneys in Turkey and find out more about the documents required to set up a foundation in this country.

Statistics on foundations in Turkey

Here are some statistical data on the number of foundations in Turkey:

• There are around 5,047 directly managed foundations in Turkey, under the supervision of the Directorate General of Foundations.
• About 437 foundations are managed by trustees and supervised by the same Directorate in Turkey.

You can also choose other services besides those offered for setting up a foundation in Turkey. For example, you can apply for citizenship by investment in Turkey with the help of our immigration specialists. We invite you to contact our law firm in Turkey and find out everything you need to know about business formation and more.