Limited Company | Limited Şirket
Legal Form: Limited Şirket (LS)
Execute and notarize Articles of Association, signature declaration of the managers, copies of each manager’s identity card or passport and commercial books.
Time to complete: 1 day
The following documents are required:
- Notarized Articles of Association
- Notarized signature declarations
- Notarized identity cards (or passport copies for foreigners) of company managers
- Signature declarations of company managers
Deposit a percentage of capital
To register with the Commercial Registry, shareholders must obtain the original receipt which shows that 0.04% of the company’s capital has been paid to the Competition Authority at the central bank or a public bank.
Time to complete: 1 day
File the incorporation notice at the Trade Registry Office
Founders must submit the incorporation notice form, the commitment letter, and the chamber registration statement to the Trade Registry Office. For each individual shareholder who is not a Turkish citizen, a copy of the shareholder’s passport is notarized by a Turkish notary.
Time to complete: 2 days
- Three copies of an establishment notification form
- Three copies of the notarized Articles of Association
- Bank deposit receipt from the Competition Authority Account (0.04% of the company’s capital)
- An undertaking (taahhütname) signed by the authorized company representatives
- For each person authorized to represent the founders of the limited liability company, two copies of the signature
The Commercial Registry Office notifies the Tax Office and the District Employment Office about the company incorporation. The Registry arranges for an announcement in the Commercial Registration Gazette within about 10 days of company registration.
A tax identification plaque must be obtained from the local tax office after the Commercial Registry Office notifies the local tax office. The Registry Office also notifies the Ministry of Labour and Social Security, Directorate of the Social Security Institution of the incorporation. A social security number must be obtained from the relevant Social Security Administration office.
Notary certify the legal books
Certification of commercial booksTime to complete: 1 day
- Journal - 200 pages
- Ledger - 100 pages
- Case book - 100 pages
- Inventory book - 40 pages
The founders must certify the legal books the day they register the company with the Commercial Registry. The notary public must notify the Tax Office about the commercial book certification.
Commercial Registry’s notification
The Commercial Registry Office notifies the Tax Office and the Social Security Administration of the company’s incorporation. To expedite the registration process, company representatives follow up on whether the notification has been received. A tax officer comes to the company headquarters to prepare a determination report. There must be at least one authorised signature in the determination report.
Time to complete: 1 day
Certificate of paid-in capital
If all company capital is not paid in advance, 25% of the initial capital must be deposited within 3 months of company incorporation, and the balance of the subscribed capital must be paid within 3 years of incorporation.Time to complete: 1 day
Citation: http://www.companyinturkey.com/limited-company.html
