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WHO CAN FORM A COMPANY IN TURKEY

Foreign investors can form a company in Turkey. A foreign investor is defined as a company registered outside Turkey, or a non-Turkish national, or Turkish nationals who reside abroad. The removal of the requirement of the prior ministerial approval has conferred ‘Turkish Company’ status to all foreign investment based companies with the same rights and obligations of Turkey based companies. Provided all required documents are submitted to a Trade Registry Office, a company can be incorporated in Turkey just in one day.

LIMITED COMPANY

A Limited Company is set up with at least two real persons or legal entities. The liability of the shareholders is limited with the share capital. Minimum capital requirement is 5.000 YTL. Unlike joint stock companies, stock certificates are not issued.

JOINT STOCK COMPANY

A Joint Stock Company is a limited company that can issue stock certificates, and set up with at least 5 shareholders, real persons or legal entities. The company’s stock capital is divided into shares, and the liability of the shareholders is limited with the share capital. Minimum capital requirement is 50,000 YTL. General Assembly, Board of Directors and Supervisory Board are mandatory company organs.

SETTING UP A LIAISON OFFICE

Companies based abroad can open liaison offices in Turkey provided if commercial activities are not carried out through these offices.

SETTING UP A BRANCH

Companies based abroad whose capital is divided into shares can open branches in Turkey. Opening a Branch requires prior approval from the Ministry of Commerce and Industry.