Malaysia Hotline: +603- 2141 8908
Turkey's
regulatory environment is extremely business-friendly. You can establish a
business in Turkey irrespective of nationality, or place of residence.
It is
possible to establish a company in a single day by applying to the relevant
trade registry office with the required documents. The company is established
once the founders declare their intent to set up a joint stock company in the
articles of association, which have been issued in accordance with the law, and
where they, with their notarized signatures, unconditionally acknowledge and
undertake to pay the whole capital. The company receives its "legal
entity" status upon registration with the trade registry.
Types
of Companies
Incorporated
companies such as a:
• Joint-stock company
• Limited liability company
• Commandite company
• Collective company
• Cooperative company
The
legal differences between those company structures mainly concern the
allocation of liability and the legal form of the entity. However, largely due
to the favorable position concerning the liabilities borne by shareholders,
joint stock companies and limited liability companies are the corporate
structures in Turkey most commonly chosen by foreign investors, along with the
other business setup forms of branch offices and liaison offices.
Two
types of companies, namely joint stock companies (JSC) and limited liability
companies (LLC), are those in which shareholders are not liable for the debts
of the company in terms of their personal assets. A JSC can issue debentures,
while a LLC is prohibited from doing so. A JSC can go public while a LLC cannot
offer its shares to the public. A statutory auditor is required for a LLC, only
if and when it has more than 20 partners, while it is required for a JSC
regardless of number of shareholders.
Joint
Stock Company
The
company's stock capital is divided into shares and the liability of the
shareholders is limited to the subscribed capital and paid by the shareholder.
At least one shareholder (real person or legal entity) and a minimum capital of
TRY 50,000 are mandatory. The mandatory company shall include a general
assembly and a board of directors.
Limited
Liability Company
It is a
company established with at least one shareholder (real person or legal entity)
and the liability of the shareholders is limited to the subscribed capital and
paid by the shareholder. A minimum capital of TRY 10,000 is mandatory.
Commandite
Company
It is
the company established to operate a commercial enterprise under a trade name.
Whereas the liability of some shareholders is limited to the capital subscribed
and paid by the shareholder (commanditer), for some shareholders there is no
limitation of liability. Legal entities can only be commanditer. No minimum
capital is required. The rights and obligations of the shareholders are
determined by the articles of association.
Collective
Company
It is
the company established to operate a commercial enterprise under a trade name
and, the liability of none of the shareholders is limited only to the capital
subscribed and paid by the shareholder. No minimum capital is required. It is
mandatory that all the shareholders be real persons. The rights and obligations
of the shareholders are determined by the articles of association.
Contact
us
If
you have further queries, please contact Tannet
24
hours Malaysia hotline：603-21418908;
24
hours Hong Kong hotline：852-27837818;
24
hours Hong Kong hotline：86-755-
36990589;
Email:
mytannet@gmail.com
TANNET GROUP : http://www.tannet-group.net, http://en.tannet.com.my