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Turkish Limited Liability Company Establishment
A minimum capital of 5,000.-TL (approximately £2,000) is required. This is the total amount of capital, not the capital per person. Number of founding shareholders (real persons or legal entities) can be between 2 and 50. All or some of the shareholders can be foreign nationals. A shareholders liability is restricted to the capital subscribed and paid by the shareholder. Unlike joint-stock companies, no stock certificate is issued. A company can be established in a day provided that all the required documents are ready to be submitted to the Trade Registry.
Founders' names, last names, addresses, citizenship (only for non-Turkish citizenship) of the founders have to be listed.
Trade Name
The trade name of the company has to be determined in accordance with Article 45 of TCC so as to indicate the business activity of the company. It is obligatory that the trade name has to incorporate the phrasing; Limited. In case it contains the name and surname of the real person, the phrasing that indicates the company type cannot be abbreviated or displayed in symbols.
Since the trade names of legal entities are protected all over Turkey, the designated trade name should not have been previously registered at any registry office. The trade name should not carry an essence to mislead third parties with regard to the scope of activities, significance or financial status of the company, nor should contradict facts and public order. The words; Türk, Türkiye, Cumhuriyet and Milli can be used in trade names provided that there is a decree of Council of Ministers approving such usage.
The trade name has to be in Turkish language. Any fictitious names present in the trade name have to be in Turkish language as well. The presence of foreign words in the trade name of a company may be permitted in cases, where these words do not contradict the law, the national, cultural and historical benefits; where the name or brand promoting the goods or services constituting the business activity of the company is in a foreign language or there is/are foreign shareholder/s in the company.