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Company Formation Turkey



Company Management in Turkey

Updated on Wednesday 01st February 2023

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Company-management-in-TurkeyOpening a company in Turkey implies of set of steps and requirements to be fulfilled. Among the condition foreign investors must abide by is the appointment the directors or managers of the business, who will form the company management. The Commercial Code in Turkey provides for the management of public and private companies through Articles 623 to 631. The Articles of Association of the company will also establish the responsibilities of company managers in Turkey. It must be noted that requirements, roles and responsibilities of the management differs in private and public companies in Turkey. Our company registration agents in Turkey can offer information on the provisions of the Commercial Law related to company management.

Appointing company managers in Turkey

The company management of a Turkish company is appointed during the general assembly of the shareholders. The directors or managers nominated must accept their functions in writing followed by their inscription in the Turkish Companies Registrar.
Starting 2013 when the new Company Act was enabled, shareholders are allowed to appoint a board of directors comprised of at least one Turkish resident. Another change related to company management in Turkey refers to the fact that a legal entity may be part of the board of directors starting 2013. The new Company Law also introduced the concept of professional board of directors, our Turkish company formation consultants can offer details about.

The duties and powers of company directors in Turkey

The first and most important duty of a Turkish company’s management is the fiduciary one, which refers to acting in the best interest of the shareholders and the company. The Company Act provides for the powers of directors in Turkey in Articles 371 and 623, as it follows:
  • -          to amend the company’s statutory documents;
  • -          to appoint board members;
  • -          to liquidate the company;
  • -          to issue financial statements;
  • -          to sell the company’s assets;
  • -          to determine the company’s profits.
Do you need a team of accountants in Turkey? We advise you to contact our specialists and discover the services offered. We can help you with payroll services, audits, bookkeeping, annual financial statements, tax registration, debt monitoring, and more. If you plan investments in the company and beyond, you can receive dedicated consultancy. We can also prepare complete financial reports to know how the company is positioned from a financial point of view.
The company’s management is required to carry out their duties with due diligence and act in good faith.
If you want to open a company in Turkey and need more information on the appointment of directors, please feel free to contact our company incorporation representatives.


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Call us now at +90 532 351 66 77  to set up an appointment with Cagatay Altunsoy, one of our specialists in company formation in Istanbul, Turkey. Alternatively you can incorporate your company without traveling to Turkey.

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