We handle company formation processes, foreign capital company formations, and the branch opening processes of foreign companies in Turkey on behalf of our clients. We complete the Trade Registry Registration procedures, obtain the Tax Plate and Social Security Institution Workplace registration, and make the company ready for commercial activity.
Take the First Step in Company Formation Correctly
We evaluate which type of company would be more suitable for our client and proceed with the formation according to their decision.
Additionally, for those who prefer, we also offer sole proprietorship establishment services instead of company formation.
Sole proprietorship or single-person business: It is a venture owned by one person, making it suitable for small businesses. It is the easiest to establish and close. The biggest advantage is that it is set up with minimal cost and procedure. The disadvantage is that the owner has unlimited liability for all debts and obligations undertaken by the business.
According to the Turkish Commercial Code, Commercial Companies can be established in five different types: Collective, Commandite, Joint Stock (Anonim), Limited, and Cooperative Companies.
- Collective Company: Established between individuals to operate a commercial enterprise under a trade name, where none of the partners’ liability to the company’s creditors is limited.
- Commandite Company: A company established to operate a commercial enterprise under a trade name, where the liability of some partners to creditors is unlimited, while the liability of other partners is limited to a specific capital amount. Those with unlimited liability are called active partners, while those with limited liability are called sleeping partners. Active partners must be individuals, while legal entities can only be sleeping partners.
- Limited Company: Formed by one or more individuals or legal entities under a trade name, with a capital divided into shares. Partners are only responsible for paying their committed share capital and fulfilling any additional obligations stipulated in the company agreement. Limited companies can be established for any economic purpose that is not prohibited by law.
- Joint Stock Company (Anonim Şirket): A company with a specified capital divided into shares, liable for its debts only with its assets. It can be established with at least one shareholder and is considered publicly held if the number of shareholders exceeds five hundred. Shareholders are only liable to the company for their subscribed shares.
- Cooperative Company: A form of cooperative ownership that allows individuals, companies, municipalities, and other associations to engage in commercial activities as a legal entity.
