The limited liability company (“LLC”) is one of the most common business forms in Turkey. If the foreign investors establish a LLC in Turkey, they need to know details about the registration procedure, the costs and documents necessary to be submitted to the Turkish authorities.
Moreover, the LLC could be founded by at least one shareholder which can be a real person or legal entity. The shareholder will be liable to the extent of the paid subscribed capital. Indeed, the LLC could have a maximum of fifty shareholders, but there are no restrictions regarding the nationality of the shareholders. Thus, the shareholders could be foreign investors which have the hundred percentage of company owned.
The essential requirement is that a LLC in Turkey has a minimum share capital of 10,000 TL. The Turkish LLC could have one or more managers and one of these individuals must be appointed as a chairman of the board. According to the Turkish Commercial Code, the board of members does not have to be present in person at the meetings. Therefore, they can attend them via electronic means and resolutions can be approved using electronic signatures.
The new Turkish Commercial Code provides a business-friendly regulation associated with company formation. The bureaucratic formalities have been simplified for the foreign investors to start making business in Turkey.
Hukuk Desteği (Legal Support)
iletisim: [email protected]