Turkey is the gateway between Europe, the Middle East, and Central Asia. Therefore, it has great geographic advantages for an investor.
A joint-stock company (the "JSC") is a company, whose capital is definite and divided into shares, and which usually used by investors interested in setting up large operations in Turkey. JSCs can be founded within 2-3 banking days.
1. Various Equivalents of JSC in the World:
| United States of America, Canada | Corporation (Inc., Corp.) |
| European Union | Societas Europaea (SE) |
| Germany, Austria, Switzerland (German-speaking cantons) | Aktiengesellschaft (AG) |
| France, Belgium, Switzerland (French-speaking cantons) | Societé Anonyme (SA) |
| United Kingdom | Public Limited Company (plc) |
| Italy | Società per Azioni (SpA) |
| Spain, Mexico, Argentina | Sociedad Anónima (S.A.) |
2. Essential Points:
- The minimum capital amount is TRY 50,000. (Fifty thousand)
- Shareholders are only liable to the company with the capital shares they have committed.
- A JSC can be incorporated by at least 1 (one) shareholder which can be a natural person or legal entity, foreign or Turkish citizen.
- A Turkish company must comply with the accounting principles in Turkey and the annual financial filings.
- A JSC has two main units, General Assembly consisting of shareholders and the Board of Directors.
- According to the Commercial Code, at least one of the business fields must be included within the Company's title. And also, the title must involve the phrase "Anonim Sirketi" and shall be written in Turkish.
- We are also able to open bank accounts in Turkey on behalf of our Clients after issuing a specialized Power of Attorney. Please do not hesitate to contact us for the details.
- Every JSC shall have a physical office in Turkey. Please do not hesitate to contact us for the details.
3. Required Documents
- Power of Attorneys - by the prospective shareholders and managers of the Turkish Company Signature Declaration for the managers
- Passport copies for each manager and shareholders
- For non-shareholder managers, the document showing that they accept the appointment.
- Application form for the registration before Istanbul Chamber of Commerce
- Certificate of Residency of the shareholder and manager/s
- The Potential Tax-Number of the shareholders and managers.
- 3 Passport size photo of the shareholder's individual representative
- Establishment Declaration Form -- in order for us to prepare this form, we need the following information 1) The address of the company, 2) The intended area of activity (event management or consultancy)
- Articles of Association
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
