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Tuesday
Jan242012

Company Limited By Shares Under New Turkish Commercial Code

DateTuesday, January 24, 2012 at 12:00AM

A company limited by shares is a company with its own business name pre-determined capital (share capital) is determined in advance and divided into specific amounts (shares) and whose liabilities are payable only from the company assets.

The shareholders are required only to fulfil the duties specified in the articles of association and are not personally liable for the company’s obligations.

A company limited by shares may also be established for a purpose that is not forbidden by law.

Minimum share capital

The share capital must amount to at least 10.000 Turkish Liras.

Shareholders

A company limited by shares may be established by one or more natural persons or legal entities or other commercial enterprises. Maximum number of shareholders is 50.

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