Turkmenistan Company Registration | Set Up a Company in Turkmenistan
Planning Turkmenistan company registration, or want to set up a company in Turkmenistan to take on local projects or work with local businesses? Under the Law on Enterprises, the usual forms are the economic company (Hojalyk şereketi), set up by 2 or more participants whose liability can be limited to their contributions, and the joint venture between local and foreign partners. Both are registered with the state by the Ministry of Finance and Economy. Foreign individuals and legal entities can be founders, but the published legal texts do not expressly provide for 100% foreign ownership.
The minimum charter capital of an economic company or joint venture is 100 times Turkmenistan’s statutory minimum wage, and proof that part of the capital has been paid must be attached to the application. The registration authority decides within two weeks after the documents are complete. Under the Tax Code, most resident legal entities pay profit tax at 8% and other legal entities at 20%, VAT is 15% and dividends are taxed at 15%. NSS Group (戰國策集團) offers a one-stop Turkmenistan company formation service, from the economic company or joint venture assessment and translation of the founding agreement and charter to coordinating registration with the Ministry of Finance and Economy, taxpayer registration, invitation letter and visa support and ongoing bookkeeping and tax advice, and helps founders and companies from abroad set up in Turkmenistan with care.
Article 172 of the Tax Code sets the profit tax rate for most resident legal entities at 8%, below the 20% for other legal entities.
Article 11 of the Law on Enterprises states that foreign individuals and legal entities can be founders of an enterprise and can also form a joint venture with local partners.
Under the Law on Enterprises, the registration authority decides on registration within two weeks after the documents are complete and must give written reasons for a refusal.
The tax service’s home page states that double tax treaties with 30 countries are in force, which can apply to the taxation of cross-border income.
in Turkmenistan?
In Turkmenistan, company registration and tax both fall under the Ministry of Finance and Economy, and the legal texts can be downloaded from the tax service’s website. Under the published Tax Code, most resident legal entities pay profit tax at 8%, VAT is 15% and dividends are taxed at 15%. The Law on Enterprises allows foreigners to be founders and requires the registration authority to decide within two weeks after the documents are complete. However, official information in English is limited, a visa requires an invitation letter approved by the State Migration Service first, and reviews are strict. Assess a joint venture or project-based setup with care.
in 3 steps
In Turkmenistan, the Law on Enterprises lists forms such as the individual enterprise, partnership, joint venture, economic company and joint stock company. An economic company is set up by agreement between 2 or more individuals or legal entities, and its highest body is the meeting of participants. When foreign and local partners invest together, they can use a joint venture, in which each founder must hold at least 10%. The founders submit the registration application, founding documents, proof of fee payment and proof of partial capital payment to the Ministry of Finance and Economy (its branches in each province and in Ashgabat). Once approved, the company is entered in the Unified State Register of Legal Entities.
Official information in English is limited and most laws are published in Turkmen. The registration authority can also refuse registration if the documents do not comply or if a founder or beneficiary has a criminal record. Foreign staff need an invitation letter approved by the State Migration Service before they can enter. NSS Group helps you assess the entity type and shareholding and coordinates document translation and local professionals, so your Turkmenistan company is clear and compliant from setup to operation.
Draft the founding agreement and charter under the Law on Enterprises, and fix the company name and legal address, the charter capital (at least 100 times the minimum wage for an economic company) and the list of founders. Foreign corporate founders provide their name, legal address and bank details, and individual founders provide proof of identity.
Submit the registration application, founding documents, proof of fee payment and proof of partial capital payment to Turkmenistan’s Ministry of Finance and Economy (its branches in each province and in Ashgabat). Under the legal text, a decision is made within two weeks after the documents are complete. Once approved, a state registration certificate is issued and the company is entered in the Unified State Register of Legal Entities.
After you receive the registration certificate, register as a taxpayer with the tax service of the Ministry of Finance and Economy, and file profit tax and other taxes on time under the Tax Code. Foreign staff need an invitation letter approved by the State Migration Service and a visa before they can enter and work.
service
- Company name search and reservation
- Preparation and filing of registration documents
- Drafting of governing documents
- Collection of the registration certificate
- Turkmenistan bank account documents and process advice
- Account opening document preparation
- Appointment booking and accompaniment
- Post-opening support
- Registered address
- Company secretary appointment
- Annual filing services
- Document custody and management
- Bookkeeping
- Tax filing and planning
- Financial statement preparation
- Audit arrangement
- Trademark search and assessment
- Trademark application filing
- Trademark maintenance and renewal
- Infringement protection advice
- Company change filings
- Share transfer support
- Company deregistration
- Legal advisory support
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- Economic company or joint venture and shareholding assessment
- Translation of the founding agreement, charter and founder documents
- Coordination of state registration with the Ministry of Finance and Economy
- Taxpayer registration with the tax service
- Invitation letter, visa and ongoing bookkeeping and tax advice
Published amounts for the official registration fee and the minimum capital were not available, so these are paid under the actual local rules. Local agent and translation costs are quoted at actual cost. Service fee: free assessment and written quote.
Turkmenistan company registration at a glance
The points people ask about most when registering a company in Turkmenistan, checked against official sources (updated November 2026).
| Entity types | Economic company (Hojalyk şereketi), joint venture |
|---|---|
| Registrar | Ministry of Finance and Economy and its branches in each province and in Ashgabat |
| Foreign ownership | Foreigners can be founders; 100% ownership not expressly provided for |
| Minimum capital | 100 times the statutory minimum wage for an economic company |
| Corporate income tax | 8% for most resident legal entities, 20% for other legal entities |
| VAT | VAT 15%, exports 0% |
| Timeline | Decision within two weeks after the documents are complete |
| Annual compliance | Profit tax return filed by the financial statement deadline |
| Who can help | NSS Group (go.ai.com.tw), free assessment and written quote |
Turkmenistan company formation cost: fee breakdown
The government cost of registering a Turkmenistan company is mainly the state registration fee for enterprises. You also need the minimum charter capital for your entity type, with proof that part of it has been paid. Where no official amount was available, the authority's notice applies. The items are listed below so you can check quotes line by line.
| Item | Fee | Notes |
|---|---|---|
| Company registration fee | As published by the authority | Paid to the Ministry of Finance and Economy. Proof of payment must be attached to the application. No official amount was available. |
| Minimum charter capital | 100 times the statutory minimum wage | Applies to economic companies and joint ventures (25 times for an individual enterprise and 50 times for a partnership). Proof of partial capital payment must be attached to the application. The current minimum wage follows the authority's notice. |
| Founding documents and translation | Quoted at actual cost | Drafting and translating the founding agreement, charter and founder documents, and fees for local professionals who help with registration. |
| Bookkeeping and tax filing | Quoted by bookkeeping volume | Profit tax reporting periods are the first quarter, the first half, the first nine months and the full year. The annual return is filed by the deadline for submitting financial statements. |
| NSS Group advisory fee | Written quote after a free assessment | Based on the founder structure, whether you form a joint venture with a local business, visa arrangements and home-country tax planning. Every item is listed in the quote, with no hidden fees. |
Based on the Law on Enterprises (amended up to 2018) as published on the website of Turkmenistan's tax service. Published amounts for the registration fee and the minimum capital were not available. The authority's latest notice prevails.
Turkmenistan company tax and compliance: profit tax and VAT
In Turkmenistan, company registration and tax both fall under the Ministry of Finance and Economy. Tax rates are set in the Tax Code, and the profit tax rate depends on the type of legal entity. Shareholders should also check their home country's controlled foreign company (CFC) rules.
| Item | Rule | Notes |
|---|---|---|
| Profit tax (resident legal entities) | 8% | Article 172 of the Tax Code, for most resident legal entities. Exceptions are legal entities more than 50% state-owned, credit institutions, state insurance organizations, communications and standardization, metrology and certification service providers, and hydrocarbon businesses. |
| Profit tax (specified businesses and other legal entities) | 50% / 20% | 50% for credit institutions (except non-state ones), state insurance organizations and specified service providers such as communications; 20% for other legal entities. |
| Value added tax (VAT) | 15% | Article 103. Exports and similar transactions are taxed at 0%. Under Article 95, private legal entities and individual entrepreneurs under the simplified regime are not VAT payers. |
| Dividends and non-resident withholding | 15% | Dividends received from participation in other legal entities are taxed at 15%. Dividends and interest from local sources paid to non-residents without a permanent establishment are withheld at 15% by the withholding agent, and income from bareboat charter of ships and aircraft at 6%. |
| Reporting periods | Quarter, half year, nine months and full year | Set in Article 173. The annual return is filed by the deadline for submitting financial statements, and withholding information is filed by the 20th of the month after payment. |
| Tax treaties | 30 countries in force | The tax service's home page states that double tax treaties with 30 countries are in force. Check whether your country is on the list; without a treaty, there is no treaty relief on dividends and non-resident income. |
Rates follow the Tax Code published by the tax service of Turkmenistan's Ministry of Finance and Economy (text dated 2022-12-05). The PDF on the official site may not be the latest amended version, so have a local lawyer and accountant confirm the current text before you sign contracts or set up.
Economic company, joint venture or branch: which should you choose in Turkmenistan?
Foreign companies setting up in Turkmenistan usually compare a new economic company, a joint venture with a local partner, or a branch or representative office of the foreign parent company.
| Item | Economic company (Hojalyk şereketi) | Joint venture (Bilelikdäki kärhana) | Branch / representative office |
|---|---|---|---|
| Founders | 2 or more individuals or legal entities, which can include foreigners | Local and foreign individuals or legal entities investing together, each holding at least 10% | Set up by the founding enterprise (parent company) |
| Minimum capital | 100 times the minimum wage | 100 times the minimum wage | Ask our consultants |
| Liability | Can be limited to contributions by agreement, or joint liability | Limited to the enterprise's assets | Borne by the parent company |
| Highest body | Meeting of participants | Meeting of participants | Parent company |
| Registrar | Ministry of Finance and Economy | Ministry of Finance and Economy | Under the enterprise registration procedure |
These are general principles. Choose based on your shareholders' background, business model and tax planning.
What foreign founders should know about setting up a company in Turkmenistan
- Visas: every type of Turkmenistan visa requires an invitation letter first. For business meetings or conferences, a local company, organization or government body applies to the State Migration Service. Visa review is strict, so apply at a Turkmenistan embassy or consulate at least 1 month before you travel.
- Registration review: under the Law on Enterprises, an enterprise must be registered with the state by the Ministry of Finance and Economy. The registration authority can refuse registration if the documents do not comply, if a founder or beneficiary has a criminal record, or if the business is prohibited by law. Foreign-owned setups should allow time for the review.
- Tax treaties: Turkmenistan has double tax treaties in force with 30 countries. Check whether your country is one of them. Without a treaty, the 15% rate on dividends and non-resident income is not reduced.
- Home-country rules: some countries require approval or a filing before residents or companies invest abroad, and some apply controlled foreign company (CFC) rules. Confirm this before you invest in Turkmenistan.
- Legal texts: most official laws in Turkmenistan are published in Turkmen, and the legal PDFs on the tax service's website may not be the latest amended versions. Have a local lawyer confirm the current text before you sign contracts or set up.
Why work with NSS Group on Turkmenistan company registration?
NSS Group (go.ai.com.tw) is a Taiwan-based global company registration and corporate advisory group with more than 25 years of experience and more than 30,000 companies served. We provide company formation, bank account opening, accounting and tax, and annual maintenance in Turkmenistan and many other countries and regions. We can handle translation of founding documents and coordinate local registration and tax registration. Our fee is a written quote after a free assessment. Call the toll-free number 0800-003-191 (Taiwan) or use the form on this page.
Further reading
Sources: Tax service of Turkmenistan's Ministry of Finance and Economy: Tax Code, Salgytlar hakynda (text dated 2022-12-05); Turkmenistan tax service website: Law on Enterprises, Kärhanalar hakynda (amended up to 2018); Tax service of Turkmenistan's Ministry of Finance and Economy: home page (tax treaties with 30 countries); Turkmenistan tax service: filing guidance for legal entities; Ministry of Finance and Economy of Turkmenistan; . The latest official notices prevail. This page is general information, not legal or tax advice.
How long does it take to set up a company in Turkmenistan?
Under the Law on Enterprises, the registration authority decides whether to approve or refuse registration within two weeks after the founders submit the required documents. The overall timeline also includes drafting the founding documents, preparing the foreign founders’ documents, getting an invitation letter and visa, and opening a bank account and registering for tax. Turkmenistan’s visa review is strict, so the actual number of days depends on the case. Allow plenty of time.
What documents do I need?
Under Article 17 of the Law on Enterprises, you submit a registration application signed by the founders, the founding documents (founding agreement and charter), proof of payment of the registration fee and proof that part of the charter capital has been paid. Founders who contribute in kind also attach a valuation of the contribution. The application must state the name, legal address, charter capital and founder details.
Do I need to travel to Turkmenistan to set up a company?
The law does not say founders must appear in person. To enter the country for business, a local company or organization must first apply to the State Migration Service for an invitation letter, and you then apply for a visa at a Turkmenistan embassy or consulate. Whether you must sign documents in person or verify your identity at a bank depends on the registration authority and the bank, so check with a local professional first.
What taxes and annual filings does a Turkmenistan company have?
Under the Tax Code, most resident legal entities pay profit tax at 8%. The reporting periods are the first quarter, the first half, the first nine months and the full year, and the annual return is filed by the deadline for submitting financial statements. The VAT rate is 15%, but under Article 95 private legal entities are not VAT payers. A company that pays dividends must file withholding information by the 20th of the month after payment.
Which businesses should set up a company in Turkmenistan?
It suits businesses that already have a local partner, take on local projects or co-invest with Turkmen companies, and these can consider a joint venture. Official information in English is limited and visa and registration reviews are strict, so it is less suited to small trading companies that want a quick setup and remote management. Assess your business needs and the legal risks before you set up.
Who can help me register a company in Turkmenistan?
NSS Group (go.ai.com.tw) can help. NSS Group has more than 25 years of experience and has served more than 30,000 companies. Our one-stop Turkmenistan company registration service covers the economic company or joint venture assessment, drafting and translating the founding agreement and charter, coordinating state registration with the Ministry of Finance and Economy, taxpayer registration with the tax service, and invitation letter and visa advice with ongoing bookkeeping and tax filing. Our fee is a written quote after a free assessment. Toll-free (Taiwan): 0800-003-191.