Some companies in Turkey are mostly being identified by the type of business they establish, or the commercial activities. However, many investors tend to start a joint stock company in Turkey as a mean to fulfil their business needs and partners.
What is the Joint Stock Company in Turkey?
The joint stock company in Turkey is considered one of the authorized companies by Turkish laws, granting various of permissions, suitable to the business they operate for.
It can be identified as a company with capital divided by multi partners, where responsibilities are signed to each partner based on the shared capital in the company.
Difference Between Joint Stock Company and Other Types of Companies in Turkey
The joint company is characterized with unique advantages and difference from other types of companies such as:
- suitable for mega businesses and project, as joint stock companies can carry out all kinds of economic activities, whether commercial or industrial.
- When establishing a joint-stock company in Turkey, the number of founding partners must be at least two persons.
- The company is supervised by a group of administrative bodies to monitor its activities, signed as:
- The General Assembly.
- The board of directors.
- Supervisory Board.
Board members are elected from among the shareholders, and these councils bear some responsibilities, and these members are re-elected every 3 years.
- The company's capital must not be less than 50,000 Turkish Liras and more.
- A quarter of the company's minimum capital must be deposited in the bank upon incorporation, as this amount reflects the nominal values of the company's shares, and the rest of the amount is deposited within 24 months.
Required documents to start a joint stock company in Turkey
There are few steps and requirements in order to establish a joint company in Turkey:
- The company contract is signed by the founders.
- The evaluation report of the company's assets, issued by an expert appointed by the court.
- Documents proving intellectual property rights.
- A statement of registered capital with no restrictions.
Edited by: Turstus Company©
