Turkey

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. 

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