How many days is a limited liability company established? What information is required?
Establishment process of limited liability company in Turkey, takes approximately 5 business days. Most of the transactions are carried out by the power of attorney received from the shareholders for the establishment of the company. Before starting the establishment of the company, the information required for the draft of the articles of association is obtained from the company shareholders. In order to prepare the articles of association of the company, it is necessary to determine the corporate name, shareholders, address, capital, share rates of the company and authorized signatory directors.
What should the number of shareholders be in a limited liability company?
Limited Liability Companies can be established with at least one, at most fifty shareholders. Companies can also be shareholders. If the company has only one shareholder, it may be a real person or a legal person.
How to choose the Director of Limited Liability Company?
If the Limited Liability Company has more than one shareholder, at least one of the shareholders must be a director with unlimited authority. Directors can be appointed externally to the company. Director of Limited Liability Company can be appointed without duration limit.
Can a Limited Liability Company be established indefinitely?
Limited Liability Companies can be established indefinitely. It can be set duration for the company, if requested. At the end of the duration, the relevant article of the Articles of Association can be extended by amending or changed indefinitely.
How much should the Capital Amount of Limited Liability Company be?
The capital of limited liability companies must be at least TRY 10.000. The minimum share of capital should be determined as TRY 25 and its multiples. There is no obligation to block capital in the bank during the establishment of company. The stipulated capital must be paid to the company within 24 months of the establishment of the company. The amount of capital paid to the company by the shareholders of the company can be freely used by the company.
Can legal entities be shareholder in Limited Liability Companies?
Legal entities can be shareholders along with real persons. Legal entities can be directors in Limited Companies where they are shareholders. In this case, the legal entity must appoint a real person to represent it.
In which institutions are transactions for the Limited Liability Company be carried out?
After the draft of the articles of association of the Limited Liability Company is completed with this information, establishment procedures are started. Files in MERSİS (Central Registry System), Trade Registry Office, Chamber of Commerce, Notary, Tax Office and Social Security Institution (SSI) are opened respectively.
When is the invoice for the Limited Company printed?
After the opening of files for the Limited Liability Company in the aforementioned institutions, if the invoice will be printed or electronic invoice will be used for the company according to the obligatory conditions written in the legal regulations, the activation procedures are completed and the company commences its commercial activities.
Which registration documents can be obtained for the Limited Liability Company?
Following the completion of the establishment of the Limited Liability Company, documents can be obtained from the Trade Registry Office, Chamber of Commerce, Chamber of Industry, Tax Office and Social Security Institutions where the company is registered. Some of these documents are Trade Registry Gazette, Trade Registry Certification, Chamber of Commerce Registration Form, Activity Certificate, Tax Signboard, Social Security Workplace Register number. In addition to these, Limited Liability Companies can register to collecting societies or organizations optionally or necessarily, according to their field of activity. For example, the company which wants to export goods, should register to the Exporters’ Association before export.
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