Limited liability company turkey

The limited liability company (abbreviated LTD) is one of the most common business forms in Turkey. Investors who set up LTDs in Turkey typically run small or medium sized businesses and choose this corporate legal form for its simple registration procedure and easiness to operate. If the foreign investors establish a LLC in Turkey, they need to know details about the registration procedure, the costs and documents necessary to be submitted to the Turkish authorities.

Limited Liability Company Formation in Turkey. Legalixa Law Firm is a full service Turkish Law Firm with a long record of excellence and professional leadership in Istanbul, Turkey. Our Turkish company formation team is prepared to handle your limited liability company formation in Turkey. Our lawyers are experienced in liaison office formation, branch office formation, free trade zone company formation, joint stock company, joint venture formation, limited liability company formation.

In terms of the new Turkish Commercial Code (TCC) limited liability company (LLC) is quite justified to the joint-stock company. Thus, LLC can be assumed as a little joint-stock company under the new legislation. If there is no special case, the process of establishing limited liability companies for foreigners can be completed within this period.

It is good to know that this type of business requires a board of managers or executives. Our lawyers in Turkey can offer details related to the registration process and the taxation system for your future business. The liability of the shareholders is towards the company and is limited with their share of the capital.

Among the advantages of limited liability companies in Turkey is also the fact that they can be used for various activities. Among these, they can be set up as holding companies and thus make a great tax optimization solution. Foreigners may own all of the shares in a LS.

That capital could be the total capital of company. Number of founding shareholders (real persons or legal entities) could be minimum and maximum 50.

The basic legal arrangements related to the manager and board of managers are explained below. A Turkey limited liability company (LLC) is the most common entity used to conduct business within Turkey and is allowed to engage in any commercial or industrial activity. A Turkey LLC must appoint a minimum of one director and one shareholder.

Turkey’s FDI Law is based on the principle of equal treatment, allowing international investors to have the same rights and liabilities as local investors. The conditions for setting up a business and share transfer are the same as those applied to local investors. An LLC is a type of unincorporated association distinct from a corporation. The minimum capital required for a limited liability company is TL 10as opposed to TL 50required for a joint stock company.

A limited liability company may not have more than shareholders, bu no such maximum applies to joint stock companies. A joint stock company is managed by its board of directors. Companies (LLC) in Turkey Founders, share holders. Minimum capital requirement is 10TL.

Founders can start the registration procedure, after obtaining the documents listed below: For every separate shareholder who is not a Turkish citizen, copy of the shareholder’s passport notarized by a Turkish notary. It is a business structure that can combine the pass-through taxation of a partnership or sole proprietorship with the limited liability of a corporation.

Our company formation lawyers are prepared to handle your company formation needs in Turkey. A shareholder of an LLC has a partnership share calculated in accordance with the nominal value of capital subscribed to. Under the Turkish Commercial code, provisions relating to limited liability company governance are less developed and less clear than those relating to joint stock company governance. Legalities and costs of business set-ups in Turkey differ from the UK and most other countries.

A private limited company costs a total of 1000TL, which will need to be deposited during the initial phase of the incorporation. What is the set-up process?

The managers of limited liability companies are regulated under articles 6to 6of the Turkish Commercial Code No. TCC’), within the scope of the management and representation of the company.

Under the revised law, a limited liability company or joint stock company may be established with only one shareholder (or be transformed into a single-shareholder company ), and may also have only one board member. Due to these facilities and regulations, the Commercial Code now largely complies with the relevant EU directives. Consequently, guaranteed success is outside of Healy Consultants Group PLC’ control.

Turkey, in line with Turkish Commercial Code No.