A Joint Venture Company (JVC) in Turkey involves a partnership between two or more entities (individuals, companies, or a combination thereof) to carry out a specific business project or activity.
Joint Venture Company in Turkey is a common form of business collaboration that allows parties to combine their resources, expertise, and capabilities to achieve a common goal while sharing the risks and rewards.
Joint Venture Company in Turkey involves the collaboration of two or more entities, often with complementary skills, resources, or market access.
The formation of a joint venture company in Turkey is typically driven by a specific project, business opportunity, or market expansion. The venture is established to achieve a particular objective, and the partners contribute their assets, knowledge, and resources to pursue that goal.
Joint ventures in Turkey can take various legal forms, such as a Limited Liability Company (LLC), a joint-stock company, or other legal structures, depending on the preferences and agreements of the parties involved.
The partners in a joint venture share ownership and control of the venture according to the terms outlined in their agreement. The level of control and decision-making authority each partner has may be negotiated and specified in the joint venture agreement.
The liability of the partners in a joint venture is typically limited to their contributions to the venture. This is especially true in the case of a limited liability company structure.
Profits and losses are usually shared among the partners based on the terms negotiated in the joint venture agreement. The distribution of financial benefits is often proportional to each partner’s contribution or ownership stake.
Joint ventures can be established for a specific period (e.g., until the completion of a project) or may be intended to continue indefinitely, depending on the goals and intentions of the partners.
Joint ventures in Turkey are subject to Turkish commercial laws and regulations. The specific legal requirements and procedures may depend on the chosen legal structure for the joint venture.
Establishing a joint venture in Turkey involves careful planning, negotiation, and legal documentation. It’s advisable for parties considering a joint venture to seek legal advice to ensure compliance with local regulations and to draft a comprehensive joint venture agreement outlining the rights, responsibilities, and expectations of each partner.
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.