Turkey is bordered by eight countries: Bulgaria, Greece, Georgia, Armenia, Azerbaijan, Iran, Iraq and Syria. Turkey’s largely free-market economy is increasingly driven by its industry and service sectors, although its traditional agriculture sector still accounts for about 25% of employment. Since 2003 the number of foreign companies in Turkey has more than doubled. CompanyRegistrationsWorldwide.com can assist you in setting up a company in Turkey.
Setting up a Turkish Joint Stock Company – what are the main features?
- Investors who are in search of larger companies usually choose this structure in Turkey
- Liability of the shareholders is limited to the capital subscribed and paid by the shareholder
- At least five shareholders (real persons or legal entities) and a minimum capital of TRY 50,000 are mandatory
- There must be at least five shareholders to set up company in Turkey and they must provide a minimum share capital of 24,000 EUR.
- The minimum share capital for an AS company is YTL 50,000 (€27,000) of which 25% should be paid up
- Minimum of five shareholders are required (no nationality requirement)
- Board of Directors and a minimum three directors are required
Setting up a Turkish Limited Liability Company – what are the main features?
- The most popular type of structure in Turkey and it is usually chosen for small and medium sized businesses
- A minimum capital of TRY 5,000 is mandatory
- Unlike joint stock companies, no stock certificate is issued
- At least two shareholders are required
- Shareholders may be Turkish or foreign nationals
- The minimum share capital for a limited liability company is YTL 5,000 (€2,700) of which 25% should be paid up
- No need for audited accounts if fewer than fifty shareholders
Other company structures that can be adopted in Turkey include:
- Commandite company (not all shareholders have limited liability)
- Collective company (limited liability, only open to real persons)
CompanyRegistrationsWorldwide.com can provide you with an efficient and professional service for setting up a company in Turkey. Contact us for more information.