ERDEM UGUR

It Is Possible For A Foreign Natural Person To Establish A Limited Liability Company

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It Is Possible For A Foreign Natural Person To Establish A Limited Liability Company
ERDEM UĞUR

It Is Possible For A Foreign Natural Person To Establish A Limited Liability Company

A foreign natural persons according to the New TCC is possible to establish a limited liability company in Turkey. Previously, company executives were obliged to be Turkish citizens, but this obligation was abolished as of 26.06.2012

Accordingly, a foreign real person can set up a limited liability or joint stock company in Turkey. The new TCC 6102 stipulates at least one common number for the founders of joint stock and limited liability companies. Thus, it is possible to establish a joint stock company with a single share as of 01.07.2012.

On the other hand, in the same way a person can become a limited liability company alone. However, if the limited partnerships are divided into shares, it is obligatory to establish at least 5 persons according to the provisions of the former TCC as before.

6102 TCC a minimum authorized to represent the first new members of the company’s place of residence if the presence in Turkey of paragraph 1 of Article 359 and was brought to the condition that Turkish citizens. Therefore, the board of directors of this member’s case be composed of one member, in case of more than one member, the authorized representatives of at least one member must be a Turkish citizen and that was obligatory residence in Turkey. As such, foreign nationals who intend to establish a joint stock company in Turkey, one partner (real or legal persons) board as compulsory in Turkey was supposed to receive a Turkish citizen residing.

The above regulation has been repealed with the law dated 26.06.2012 and numbered 6335 with the view that it will adversely affect foreign investments.

Consequently, with such an arrangement made in the law, will be able to create all of the foreign real or legal persons can establish a joint stock company in Turkey and board member of the non-resident foreign nationals in Turkey. The same applies to the limited liability companies.