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STARTING A BUSINESS |
A limited Liability Company / Private Limited Company 1. A limited liability company is a company whose capital is defined and divided into shares and which is liable for its debts only with its own property. 2. A limited liability company may be established with one partner. The number of partners may not exceed fifty. Partners of a limited liability company may be natural persons or legal entities. 3. The authorised capital of a limited liability company is at least 10,000 Turkish Liras. The entire capital paid in cash can be paid within 24 months after the incorporation of the company. The payment schedule can be regulated in the company agreement or can be determined by the managers. 4. Bearer shares cannot be issued in limited liability companies. 5. The transfer of shares in a limited liability company is subject to the approval of the general meeting. |
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