The limited partnership differs legally from the general partnership because at least one partner (who is called the “general partner”) is unlimitedly liable for all the debts and obligations of the partnership against the third parties, whereas the other partners (who are called the “limited partners”) are not liable for the debts and obligations of the partnership against third parties.
Turkey Limited Partnership Key Features
- Limited Partnerships are partnerships in which there are one (1) or more general partners and one (1) or more limited partners.
- General partners may be personally responsible for any debt of the firm in the event assets are insufficient to make good any debts.
- Limited Partners are, generally, liable for their agreed investment in the firm and nothing more.
Turkey Limited Partnerships Legal Requirements
|
Turkey LP |
Corporate Details |
|
General |
|
|
Yes |
|
Yes |
|
Share capital or equivalent |
|
|
USD |
|
Any |
|
Directors | Officers | Partners |
|
|
1 Limited Partner and 1 General Partner |
|
None |
|
No |
|
Yes |
|
Company Secretary |
|
|
No |
|
Accounts |
|
|
Yes |
|
No |
|
Yes |
Turkey Limited Partnership Tax Treatment
Turkey LP attract a corporate tax of 20%
Turkey Limited Partnership Duration for set-up
2 Weeks
Distinctive Benefits of the Turkey LP
- Limited Partners are, generally, liable for their agreed investment in the firm and nothing more
- Flexible structuring of the entities in Turkey
- Favorable compliance restrictions
- Friendly regulatory environment in Turkey
- Low corporate taxes of 20%
The Valsen Advantage
- End to end comprehensive service
- Speedy and efficient service
- Expert advice on structuring options
- Dedicated ongoing compliance support
- Extensive network pool of service providers