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Types of Companies
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Types of Companies under Turkish Law
There are four types of companies in Turkey as shown below
- The Joint Liability Company
- The Limited Liability Company
- The Limited Partnership corporations
- The Joint Stock company
1. The Joint Liability Company
It is a company established to operate a business under a specific trade name, The liability of any of the shareholders is limited only to the capital subscribed and paid by the shareholders. There is no minimum capital requirement. All contributors need to be real people. Shareholders’ equity and obligations are determined through the Statutes.
This type of company has to be established by at least one real person or a legal entity and fifty people at the most, and the liability of shareholders is limited to the capital subscribed and paid by the shareholders. The capital of such company shall be not less than 10,000 TL minimum for the establishment of the company per person, and 12.500 for two persons. click here for investment in Turkey.
2. The Limited Liability Company
This company has to be established by at least one real person or a legal entity and fifty people at the most, and the liability of shareholders is limited to the capital subscribed and paid by the shareholders. The capital of such company shall be not less than 10,000 TL minimum for the establishment of the company per person, and 12.500 for two persons.
3. The Limited Partnership Corporations
The Limited partnership Corporation is a company established to run a business under a specific brand name. As the liability of some shareholders is limited to the capital subscribed and paid by the shareholders (financiers), there are no limits on liability for some shareholders. Only legal entities funded. There is no minimum capital requirement. Shareholders’ equity and obligations determined through the Statutes.
4. The Joint Stock Company
A joint-stock company is a business entity in which shares of the company’s stock can be bought and sold by shareholders. Each shareholder owns company stock in proportion, evidenced by their shares (certificates of ownership). Shareholders are able to transfer their shares to others without any effects on the continued existence of the company.
At least five shareholders are needed to incorporate this company type (Real persons or legal entities), and the requirements for the minimum share capital is 50,000 TL The management of the company is also foreseen by a board of directors, together with a supervisory board. Click here to consult about companies
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