If you want to establish your own company in Turkey but you’re confused about the process or don’t know anything about it, our article may help you.
Ministry of Trade has published a detailed guide about establishing a company in Turkey. This guide includes all processes according to the different types of companies you want to establish in Turkey.
Firstly, there are 5 different types of companies that you can register in Turkey. The legal process proceeds in different ways, and there are distinct procedures for all of them. We will explain each step in detail in this article.
Joint Stock Company
A joint stock company is a company whose capital is definite and separated into shares and responsible for its debts only with its property holdings. The minimum capital amount is 50,000 TL. Shareholders are only liable to the company with the capital shares they have committed. Joint-stock companies can be set up for any economic purpose and subject that is not prohibited by law.
Required Documents for Joint Stock Company
- A letter of application signed by the members of the board of directors or those members who have the authority to represent the company
- Incorporation declaration form
- Notarized copies of the articles of association
- Chamber Registration Declaration which must be filled by the founders
- The contracts made between the company and the shareholders or third parties (if any)
Limited Company
A limited company is a company whose capital is definite and divided into shares and is responsible for its debts only with its property holdings, just like joint stock company. There can be only a single shareholder, or there can be more. The capital of the limited company is at least 10,000 TL. Limited companies cannot be offered to the public.
Required Documents for Limited Company
- Proof that the share capital has been deposited
- Certificate of residence
- Company establishment statement form which is issued by the Trade Register
- Identification documents for the company founders
Limited Partnership
The ordinary limited partnership is a private company, and the limited partnership divided into shares is a capital company. There are two kinds of limited partnership companies: ordinary limited partnership and limited partnership divided into shares. The most important feature of the limited partnership is that it has limited and unlimited responsible partners together. Some partners have limited responsibilities, and some partners have unlimited responsibilities.
Collective Company
The collective company is established with at least two partners. Only real persons may be partners in the collective company. There is no capital requirement for collective companies. And each partner has the right and duty to manage the company separately.
Required Steps That You Must Follow to Set Up a Collective Company
- You must specify:
- The type of company
- The name and registered address of the company
- The share capital deposited by each shareholder
- The business activity it will carry out
Cooperative
A cooperative company is not a private company or a capital company, but a commerce company like any other mentioned company. The cooperative can be created with at least seven partners, without prejudice to particular types. Each partner undertakes at least one, at most five thousand shares. The value of a partnership share is 100 TL.
Required Documents for Cooperative
- Information on the participants
- Information on the capital of the cooperative
- Information on the directors
- Information on the objects of activity
