A limited liability company is established with at least one shareholder (a real person or a legal entity); the liability of shareholders is limited to the subscribed capital and paid by the shareholder. The number of shareholders may not exceed 50. A limited liability company can be established for any economic purpose that is not prohibited by law. A minimum capital of TRY 10,000 is mandatory and value per share cannot be less than TRY 25. All of the capital should be committed unconditionally by shareholders and at least 25% of the nominal value of the shares subscribed in cash must be paid before registration with the Trade Registry.

Turkey Limited Liability Company Key features

  1. A limited liability company is established with at least one shareholder (a real person or a legal entity);
  2. The liability of shareholders is limited to the subscribed capital and paid by the shareholder.
  3. The number of shareholders may not exceed 50.
  4. A minimum capital of TRY 10,000 is mandatory and value per share cannot be less than TRY 25.
  5. All of the capital should be committed unconditionally by shareholders and at least 25% of the nominal value of the shares subscribed in cash must be paid before registration with the Trade Registry

Turkey Limited Liability Company Legal Requirements

Turkey Limited Liability Company

Corporate Details

General

  • Type of Entity

LLC

  • Registered Office in Turkey

Yes

  • Access to Double Taxation Treaties

Yes

Share capital or equivalent

  • Standard currency

TRY

  • Permitted currencies

Any

  • Minimum Capital

TRY 10,000

  • Bearer shares allowed

Yes

  • No par value shares allowed

Yes

Directors

  • Minimum number

1

  • Local required

No

  • Corporate directorship allowed

Yes

Shareholders

  • Minimum number

1

  • Maximum

50

  • Corporate shareholder allowed

Yes

Company Secretary

  • Required

No

  • Local or qualified

Not required

Accounts

  • Requirements to prepare

Yes

  • Audit requirements

Yes

  • Requirements to file accounts

No

  • Publicly accessible accounts

No

Turkey LLC Tax Treatment

  • TurkeyLLC is not subject to tax on foreign sourced income.
  • Turkey LLC attracts a corporate tax of 20%

Turkey LLC Duration to Set- up

1 -3 Working Days

Turkey LLC Distinctive Benefits

  • TurkeyLLC is not subject to tax on foreign sourced income.
  • Speedy set up of a Turkey LLC as it takes 1- 3 days
  • The shareholders’ liability for losses is limited to their share of ownership of the company.

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