A Joint Stock Company (JSC) in Turkey is known as an “Anonim Şirket” in Turkish.
Joint Stock Company is a legal entity where the capital is divided into shares, and shareholders are not personally liable for the company’s debts beyond their capital contributions. A Joint Stock Company is a widely used business structure in Turkey and provides a flexible and efficient way for businesses to raise capital through the sale of shares.
JSC in Turkey can have a large number of shareholders, and the ownership is represented by shares. Shares can be freely transferred, allowing for the easy buying and selling of ownership stakes.
The company’s capital is divided into shares, and shareholders contribute to the capital by purchasing these shares. The minimum capital requirement for a Joint Stock Company in Turkey is defined by law.
Shareholders in a Joint Stock Company have limited liability, meaning their personal assets are generally protected from the company’s debts. Shareholders are only liable for the amount of their capital contributions.
The company is managed by a board of directors, which is elected by the shareholders. The board of directors is responsible for making key business decisions and managing the company’s day-to-day operations. The shareholders exercise their control through voting at general meetings.
Shares in a Joint Stock Company are generally freely transferable, allowing shareholders to sell or transfer their ownership without the need for approval from other shareholders.
A Joint Stock Company in Turkey can choose to be a publicly traded company, offering its shares to the public through an initial public offering (IPO). This provides the company with additional opportunities to raise capital.
Joint Stock Companies in Turkey are subject to Turkish commercial laws and regulations. They must comply with reporting requirements and other legal obligations.
Corporate governance principles are essential for Joint Stock Companies in Turkey. Transparent and responsible corporate governance practices help ensure the company’s proper functioning and protect the interests of shareholders.
To establish a JSC in Turkey, a company must go through a registration process with the Trade Registry Office. The process involves preparing the necessary documents, including the company’s articles of association, and obtaining approval from the Ministry of Industry and Technology. It’s advisable to seek San Global consultants legal advice to navigate the legal requirements and ensure compliance with relevant regulations.
San Global is well-equipped to assist you with your Employer of Record (EOR) and payroll requirements (also known as the Umbrella Company) in Turkey. We are capable of handling your HR (Recruitment) needs, even in the absence of a legal entity in Turkey.