Company Management in Turkey
Company Management in TurkeyUpdated on Saturday 15th December 2018
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When you decide to set up a company in Turkey, you may be its manager or you may appoint a professional to handle all the activities related to company management. Before beginning your activity as a manager or appointing somebody else, you should know a few details about the attributes of a manager in a Turkish company.
You should decide firstly the type of company you want to open in Turkey because the attributes of the manager depend on the size of the company. The most common type of company chosen by foreign entrepreneurs is the limited liability company, generally designed for small businesses.
If you plan on running a large company, you should set up a joint stock company, where you will need a manager who will handle more activities and who will have more responsibilities. If you don't know what type of company is suitable for your business, you may ask a Turkish lawyer. A law firm in Turkey may help you prepare the documents and then incorporate the new company.
Manager or board of directors?
Turkey has a friendly business environment, so appointing a foreign manager won’t be a problem. The leader of a limited liability company is the manager, but for joint stock companies there is a board of directors. Even if you choose to set up a limited liability company or a joint stock company, the managers/directors of each type of firm can be Turkish or foreigners.
For a limited liability company, the manager must be one of the shareholders, but for the joint stock company there is no such a rule. The manager/director may be a legal or a natural person. If you choose a legal entity to be the director/manager of a company, you will need a natural person from this entity to be its representative and this person will be registered with the Turkish Trade Register. This person will not be liable on behalf of the legal entity, but only for his/her own deeds.
The foreign manager/director doesn’t need a resident permit, if he/she lives abroad and works occasionally in Turkey, or a work permit, if he/she doesn’t handle transactions in Turkey and is not paid by an entity in Turkey.
For more details about the company management in Turkey, you may contact our Turkish lawyers. Our law firm in Turkey will also help you open a company in this country and assist you during your activities.