Companixa™ Turkish Company Center offers clients a customer-focused and cost-effective services to Form a Limited Company in Turkey. Here’s the Steps to Form a Limited Company in Turkey. Companixa™ prides itself on our attentive and personal approach to every client. We work closely with our clients to discover and implement the customized legal solutions that best meet their needs. Companixa™ handles commercial transactions and disputes with the same dedication and intensity whether our client is a Fortune 500 company or a privately held small business.
Our Turkish company formation team is prepared to handle your company formation in Turkey. Our lawyers are experienced in branch office formation, free trade zone company formation, joint stock company, joint venture formation, limited liability company formation, Turkish Liaison Office Formation, holding company formation, and company management and governance in Istanbul, Turkey.
Steps to Form a Limited Company in Turkey
A Turkish Limited Company (LLC) needs to have an initial capitalization of 10.000.-TL (around 2,500.-USD) and 1 to 50 shareholders. A shareholder of an LLC has a partnership share calculated in accordance with the nominal value of capital subscribed to. In certain cases, the total share of each shareholder is regarded as one equity share, regardless of nominal value. Transfer of shares is subject to major restrictions in an LLC (such as approval by other shareholders representing 75% of the capital) and may be altogether restricted.
Subject to the conditions prescribed in the Turkish Commercial Code and any conditions provided for in the Articles, it is possible to expel a shareholder, and a shareholder may also request from a court the dissolution of an LLC subject to certain conditions. As shares of an LLC is not represented by share certificates, share transfers are effected through registration of an executed and notarised sale and purchase agreement with the competent trade registry together with a shareholders’ decision approving such share transfer.
Services for Limited Company Formation in Turkey
Although liability of the shareholders is limited to the amount of share capital owned in the company, and the shareholders are not personally liable for any debt or other liability of the company, shareholders of an LLC may be held liable for the public debts of the company, such as tax liabilities. Despite the restriction on the companies for acquiring their own shares, if an LLC ends up acquiring the shares of one of its shareholders against its receivables, then the shareholders are jointly liable for the payment of the un-paid portion of the newly acquired shares by the company.
We maintain a unsurpassed practice counseling and representing large and small companies and boards of directors regarding LLC formation and governance matters. We advise our clients on all matters concerning formation of new entities from corporate formalities to tax issues.
We regularly advise clients with respect to the formation of companies. Our services with respect to company formation include advising and drafting documents in connection with the formation of corporations, limited liability companies, and Turkish liaison and branch offices. We provide targeted advice with respect to both the choice of entity and Turkish laws under the entity is to be organized.
Our clients range from small private companies with no internal legal staff to large companies with their own internal compliance teams. For each of our clients we tailor our approach to that client’s unique requirements.
Form a Limited Company in Turkey
We do perform Company formation services in Turkey and provide other company governance services for foreign companies. We have extensive experience on limited liability and joint stock companies, joint ventures, liaison office, and branch office formation and governance in Turkey.
Moreover, we have established more than 260 companies for our foreigner clients from including Spain, UAE, Ukraine, Russia, UK, Morocco, Lebanon, Syria, S. Korea, Germany, Italy, Jordan, Vietnam, Poland, France, Pakistan, China, Hong Kong, USA, Malaysia, Iran, Portugal, Norway, Canada, Saudi Arabia, Iraq, and Kuwait.
An LLC requires minimum one partner and it can be a legal entity or a real person. The partner/partners can be Turkish or foreign as well. Foreigners can own 100% of a company and transfer their profit out of Turkey without any problems. Minimum required capital for a Limited Liability Company is 10,000. -TL (Turkish lira). The capital of the company shall be paid in two years and in four installments.
Establishing an LLC generally requires 3 to 5 days. We also provide company address services for foreign companies and our rates are very moderate.
Please find company establishment road map;
- Partners’ passport translation and notarization
- Obtaining tax id number for the partners
- Getting Power of Attorney from the partners for company formation before the Notary Public
- Determining and reserving the company title
- Signing a lease contract for the company address
- Preparing online company establishment procedures
- Filing company details at Istanbul Chamber of Commerce online
- Filing company Articles of Incorporation online and getting it approved
- Filing all the documents at Istanbul Chamber of Commerce and pay official company registration fees
- Obtaining company registration certificate from Istanbul Chamber of Commerce
- Getting signature circular notarized at Notary Public
- Giving Power of Attorney to an accountant on behalf of company
- Opening company bank account
Expenses to register a limited company with one person is:
FEES AND EXPENSES
|Attorney fee for registration of a new company||1,450|
|Opening a bank account||250|
|Tax Office registration||250|
|Accounting fees per month||200|
|Company address per month||100|
|Official company registration expenses (Notary expenses for Articles of Association and all other documents)||500|
Please notice that all the above fees and expenses are included our prices.
We need the following documents for establishing an LLC;
From real persons;
- 2 Translated and notarized passport copies
- 2 Passport photos
- Power of Attorney to us for incorporating the company from each shareholder.
From a legal entity, if one of the partners is a company;
- The foreign shareholder company’s “Certificate of Good Standing” from the Registrar of Companies. This certificate should contain the information about the current active status of the company and its signature executives.
- The foreign shareholder company’s “Articles of Incorporation”
- The foreign shareholder company must get a resolution for incorporating a company in Turkey.
- If the foreign shareholder company will be appointed as company director in Turkey, it must appoint a real person to do this task. We need signature samples from this person and he must also accept this appointment. We must get his/her passport translated and notarized and we will get a Turkish tax id number.
- Power of Attorney for establishing the company.
- The above-mentioned documents shall be notarized and apostilled.
We also provide company address services for foreign companies and our rates are very moderate.
Reach us for Steps to Form a Limited Company in Turkey
Since its foundation in 1992, Companixa™ performs company formation in Turkey and provide other company governance services for foreign companies. We have extensive experience on limited liability and joint stock companies, joint ventures, liaison office, and branch office formation and governance in Turkey.We are committed to remaining forward-thinking and preparing for the dynamically changing world of business law. You may reach our experts for Steps to Form a Limited Company in Turkey by sending an email or through Contact page.