When you decide to start doing business in Turkey, firstly you should choose the proper type of company suitable for your future plans, according to your needs and the amount you are willing to spend for the formalities and bureaucratic procedures.
One of the important costs for opening a company in Turkey is the minimum share capital you have to deposit, at the incorporation, in a bank account.
The capital share is not necessary for every type of company you open, because there are firms such as comandite, collective or cooperative firms for which is not mandatory to have a capital share at the beginning.
For this type of firm, you have to pay a minimum share capital of TRY 50,000, the largest amount among all types of companies you may open in Turkey. The joint stock company is chosen by foreign investors who want to run large businesses. This type of company can be started by at least one shareholder who has to pay the minimum share capital. The liability of the shareholders (if there are many) is limited to the subscribed capital paid by each one at the incorporation.
This type of firm is chosen by entrepreneurs who intend to run small and medium businesses and they have to pay the minum share capital of TRY 10,000. It is necessary at least one shareholder and if there are many, the liability is limited to the subscribed capital, the same rule as for a joint stock company.
The shareholders of a comandite company, opened generally for commercial activities, are not obliged to pay a minimum share capital. This doesn’t mean that the shareholders can’t deposit any capital, if they want. The liability of the shareholders is limited to the capital subscribed and there are some shareholders with unlimited liability.
No minim capital share is necessary for opening a collective company for running commercial activities. The shareholders must be real persons and their rights and obligations are stipulated in the articles of association.
If the shareholders have all the necessary documents for the incorporation of a company in Turkey, the procedure of registration lasts approximately two weeks. Whenever you want to set up a company in Turkey or you need advice regarding the proper type of company for your business, you can call our company formation agents from Turkey.