LLC or Limited Sirket

Limited Sirket in Turkey is analogues to a Russian LLC (Limited Liability Company) and the most popular legal form of organization of the commercial organizations in the sphere of a small and medium business of this country.

Limited Sirket in Turkey should have at least 1 founder who must be individual or legal person. Paid authorized capital of LLC is composed of the nominal cost of the partnership interests.

The liability of the founders of LLC in Turkey makes the interests of the paid authorized capital. One of the co-founders has a right to sell his partnership interest to the third party in case if other partners refuse from buying it.

Minimal demand for the paid authorized capital is 10 000 YTL (Turkish liras).

The company is managed by the general director or be the board of directors. Management body must consist of minimum one person, this person may be a foreigner without limits.

 

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