Open a Joint Stock Company in Turkey

Foreign investors have several options when deciding to open a company in Turkey. The partnership, the limited liability company and the joint stock company are some of these options. All types of business forms are regulated by the Turkish Commercial Law.

The Turkish joint stock company is also known as a public limited liability company because the liability of the shareholders is limited to the amount they contributed with to the capital. Our company registration agents in Turkey can assist foreign investors interested in opening companies in this country. Our company registration agents can assist foreign investors interested in opening a joint stock company in Turkey and other types of legal entities in this country.

Conditions to open a joint stock company in Turkey

Foreign investors who want to establish a joint stock company in Turkey must fulfill several requirements. The company must have a minimum number of one shareholder who can be a natural person or a corporate entity. The minimum amount imposed by the law to set up a Turkish joint stock corporation is 50,000 TRY (approximately 30,000 euros) and at least 25% of the amount must be submitted prior to the company registration.

This type of company must have a board of directors which can be made up of one or more persons or companies. Shareholders are not required to be part of the board.

The Turkish joint stock company which has more than 250 shareholders and which trade on the capital markets will also be subject to the regulations imposed by the Capital Market Board. This type of entity can also be used to set up investment funds in Turkey.

Registration of joint stock companies in Turkey

The first step to open a joint stock company in Turkey is to draft the Articles of Association which must contain information on the company’s members and its activities. Then the representative must reserve a company name. The statutory documents and the shareholders and directors’ passports or other identification papers must be filed with the Turkish Companies Registry. Depending on the company’s activities certain licenses must also be obtained.

Once the Turkish joint stock company is registered, it must hold annual general meetings within 3 months from the end of the financial year.

Our accountants in Turkey are at your disposal with a series of services, and among them, we mention payroll, audits, support for annual financial statements, tax registration and returns, tax minimization methods where available, and many more. Our recommendation is to benefit from our services, at affordable prices, in exchange for an entire accounting department in the company. Contact us to discover our personalized services and offers.

Articles of association for a joint stock company in Turkey

Required documents for opening a joint stock company in Turkey

• A letter of application signed by the members of the board of directors or those members who have the authority to represent the company, including details regarding the name, share capital, address, establishment date, the name of the tax office where the joint stock company in Turkey will be registered, and a list of the annexes;
• Incorporation declaration form, filled and signed by the authorized persons;
• Notarized copies of the articles of association;
• The registration at the Chamber of Commerce, filled and signed by the founders of the company;
• Notarized copies of the passports and certificates of residence;
• Bank letter that includes the name of the company and its shareholders and the amount deposited in total and by each of the shareholders.

For assistance in setting up a joint stock company, please contact our Turkish company formation representatives. We can also assist with the preparation of the company’s statutory documents.