Turkey is a growing commercial hub for investors worldwide as its location bridges the gap between Europe and Asia. A company formation in Turkey can become a massive benefit for foreigners as it provides a natural environment for investment. Cost-effectiveness and minimal legal proceedings are the prime factors in setting up a company here.
The foreign investors find the country’s economic growth as dynamic as it shows a substantial profit expansion among the members of OECD (Organisation For Economic Co-Operation And Development). Turkey provides the essential and much-required ground for investment with its excellent infrastructure and skilled workforce. Foreign investors can participate in a joint stock company (JSC) and earn incredible profits.
The Joint-Stock Company Is a Prime Focus for Investors
Forming a joint stock company requires no nationality, and any non-resident shareholder can proceed with the proceedings. It needs a directorate board and the new Turkish Code of commerce permits a one-member board. To invest in a JSC minimum of ¼ of the share capital must be paid before the company registration in Turkey.
Liability and Establishment
A joint stock company (JSC) is also popularly known as a public limited liability company. The shareholder’s liability restricts to the amount of their participation in capital contribution. In addition, the shareholders are directly responsible to only the company and not for any third-party involvement.
Turkey’s joint stock company establishment process requires drafting the Articles of Association. In it, the investors put the information regarding the members and their activities. Then the representatives follow the procedure of reserving a name for their company. All the essential documents like the investor’s and shareholder’s passports require registration with the Turkish company registry.
The company may have to acquire specific licenses according to its need. The registration procedure may require only a few weeks. After establishing a Joint-stock company in Turkey, it must continue to hold a general meeting annually to maintain the company activities. If you need further assistance in company formation in Turkey, contact Foreign Operation consultancy.