25 Mayıs 2010 Salı

Establishing a New Company in Turkey

Within the framework of the current Turkish trade law, there are three main types of business entities that can be formed: Merchant, Commercial Partnership and Cooperative.

Merchant (Single Proprietorship): The person who is running a commercial establishment individually is accepted as a firm. Click here for a list of required documents.

Commercial Partnership: Commercial partnership companies are divided as follows:

Joint-Stock Company: Under this structure, the company’s stock capital is divided into shares and the liability of the share holders is restricted with the capital subscribed by the shareholder. At least five share holders (real persons or legal entities) and minimum capital of 50,000 TRY is mandatory.
According to the current Turkish trade law, the following types of entities should be established as joint-stock companies: banks, private finance institutions, insurance companies, financial leasing companies, factoring companies, holding companies, companies operating as foreign currency exchange offices, companies dealing with public warehousing, publicly held companies subject to the Capital Markets Law, companies that are founders and operators of free zones. These companies are subject to permit from Ministry of Industry and Trade for their foundations.

Click here for a list of required documents.

Limited Liability Company: This is a company established with the participation of a minimum of two and a maximum of 50 real persons or legal entities. The liability of the shareholders is restricted only to the capital subscribed by the shareholder. Minimum capital of 5,000 TRY is mandatory. Unlike joint-stock companies, no stock certificate is issued.
Click here for a list of required documents.

Collective Company: This is an association that has been established for the purpose of engaging in commercial activities under a common trade name. Its most important characteristic is the unlimited liability of the partners for the debt of the association. No minimum capital is required. It is mandatory that all shareholders be a real person. The relationship between shareholders is designated in the articles of association freely.
Click here for a list of required documents.

Commandite Company: Under this structure, some of the partners are liable for the association's debts in the amount of capital which they contributed, while the other partners have unlimited liability. Partners with unlimited liability are called active partners (commandite); those with limited liability are silent partners (commanditer). Legal entities can only be commandite. No minimum capital is required. The relationship between shareholders is designated in the articles of association freely.
Click here for a list of required documents.

Cooperative Association: This is a business association established by persons who want to jointly supply various needs connected with their professions, crafts and livelihoods. Such an association is based on the principle of mutual help and suretyship. Arrangements related to cooperative associations are governed by the Cooperatives Law.
This article is taken from Istabul Chamber of Commerce

Hiç yorum yok:

Yorum Gönder