Akkas & Associates is a globally recognized Turkish law firm with a long record of excellence and professional leadership in Istanbul, Turkey. Our Turkish limited liability company formation lawyers are prepared to handle your Turkish limited liability company formation. Our company formation lawyers are prepared to handle all types of company formation needs in Turkey. Our company formation lawyers are experienced in LLC formation, joint stock company formation, holding company formation, branch office formation, liaison office formation, and free trade zone company establishment, and company management and governance.
Limited Liability Company Formation in Turkey
A Turkish Limited Liability Company (LLC) needs to have an initial capitalization of 10.000.-TL (around 2,000.-USD) and 1 to 50 shareholders. A shareholder of an LLC has a partnership share calculated in accordance with the nominal value of capital subscribed to. In certain cases, the total share of each shareholder is regarded as one equity share, regardless of nominal value. Transfer of shares is subject to major restrictions in an LLC (such as approval by other shareholders representing 75% of the capital) and may be altogether restricted. Subject to the conditions prescribed in the Turkish Commercial Code and any conditions provided for in the Articles, it is possible to expel a shareholder, and a shareholder may also request from a court the dissolution of an LLC subject to certain conditions. As shares of an LLC is not represented by share certificates, share transfers are effected through registration of an executed and notarised sale and purchase agreement with the competent trade registry together with a shareholders’ decision approving such share transfer.
Limited Liability Company Formation Services
Although liability of the shareholders is limited to the amount of share capital owned in the company, and the shareholders are not personally liable for any debt or other liability of the company, shareholders of an LLC may be held liable for the public debts of the company, such as tax liabilities. Despite the restriction on the companies for acquiring their own shares, if an LLC ends up acquiring the shares of one of its shareholders against its receivables, then the shareholders are jointly liable for the payment of the un-paid portion of the newly acquired shares by the company.
We maintain a unsurpassed practice counseling and representing large and small companies and boards of directors regarding LLC formation and governance matters. We advise our clients on all matters concerning formation of new entities from corporate formalities to tax issues.
We regularly advise clients with respect to the formation of companies. Our services with respect to company formation include advising and drafting documents in connection with the formation of corporations, limited liability companies, and Turkish liaison and branch offices. We provide targeted advice with respect to both the choice of entity and Turkish laws under the entity is to be organized.
Our clients range from small private companies with no internal legal staff to large companies with their own internal compliance teams. For each of our clients we tailor our approach to that client’s unique requirements.
Reach our Limited Liability Company Formation Lawyers
Since its foundation in 1992, Akkas & Associates Turkish Law Firm has been the choice of numerous clients in Istanbul, Turkey. Thanks to its nationally recognized Turkish company formation practice, our firm is now one of the leading company formation law firms in Istanbul, Turkey. You may reach our lawyers for limited liability company formation through our Contact page.