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Types of companies in Turkey

Types of Companies in Turkey

Updated on Thursday 02nd March 2017

NameForeign businessmen who wish to open a company in Turkey have the possibility to choose between the limited liability company, joint stock company, limited partnership or commercial partnership. Our Turkish lawyer is able to provide you with guidance, assistance, and information if you want to register a company and to start doing business in Turkey.
 

What you need to know about the limited liability company in Turkey

 
This type of business is preferred among overseas investors, due to the simple stages implied in the registration process in Turkey and to the suitability as a small or a midsize company. The limited liability company in Turkey can be started with a minimum share capital of about 10,000 TRY (EUR 2,835). 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.
 

What you need to know about the joint stock companies in Turkey

 
The joint stock company is also preferred by many investors who wish to start a large business in Turkey. For this type of company, the minimum share capital must be around 50,000 TRY (EUR 14,176) and needs to be provided by at least 5 investors or businessmen. You should know that a joint stock company is  subject to the Turkish Commercial Code and the Capital Market Board.
 

What you need to know about the partnerships in Turkey

 
The commercial partnerships in Turkey also called Komandit Sirket or Kollektif Sirket, are legal entities divided in limited or general partnerships, where the business partners can be liable for the obligations and also for the debts of the partnerships. It is good to know that the partners can be liable only for the invested amount in the company when the debts are involved. The registration procedure of a company in Turkey is made at the Trade Register where the following documents are required:
 
the bank statements that show the needed share capital for your company;
articles of association;
ID and a signed declaration of the person that represents the company;
copies of the passports or other identification documents of the persons involved in the company;
the tax registration number.
 
Regarding the corporate tax, the foreign companies are obliged to pay the annual 20% rate established by the authorities in Turkey.
 
Please feel free to contact our team of lawyers in Turkey, if you need additional information and legal assistance about the types of companies in the country.