Registration of a Corporation in Turkey
Types of Corporations in TurkeyIn Turkey there are 2 popular forms of incorporation as a company, "a joint stock company: and a "limited liability company".
Joint Stock Company (with the suffix of A.S. in Turkey)
-A minimum of 5 shareholders is required to found the company.
-The shareholders may be individuals or a limited company.
-The liability of the owners of the company is limited to the sum of capital invested.
-The total capital must be at least TL 50,000.
-The shares may be registered in the name of their owners or negotiable shares (bearer shares).
-The company nominates a 'board of directors' Auditors.
-The manager of the company may be a shareholder or any other citizen.
-An annual general meeting of the shareholders must be held.
-Companies that are traded on the stock exchange operate in this form.
-Companies in Turkey that are owned by foreign investors are usually A.S. companies.
Limited Liability Companies (with the suffix STI.LTD. in Turkey)
-The minimum of number of shareholders is -2. The maximum number of shareholder - 50.
-Shareholders may be individuals or legal entities.
-The minimum capital for a company - TL 5,000.
-Shares are not negotiable. A share may be sold only with the consent of at least 75% of the shareholders.
-A limited liability company may not engage in banking or insurance.
-There is no obligation to hold an annual general meeting of the shareholders.
Updated by Independent Accountants, July 2009.
Note: The information in this site is for general guidance only. Users of this site are advised to take professional advice before taking practical tax decisions.
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