Akkas & Associates Law Firm is a globally recognized Turkish law firm with a long record of excellence and professional leadership in Istanbul, Turkey. Our Turkish company registration lawyers are prepared to assist you to register company in Turkey. Our company formation lawyers are experienced in LLC establishment, joint stock company, holding company, branch office, liasion office, and free trade zone company incorporation, and company management and governance.
Today, clients are faced with unprecedented challenges as new laws and regulations are changing the way the corporate world works. Akkas & Associates Turkish Law Firm has one of the preeminent corporate governance practices in Turkey, drawing upon the expertise of our corporate, securities, governance, litigation, and compensation specialists to provide our clients with the information and analysis needed to respond to a rapidly changing regulatory environment.
Our Services for Company Registration in Turkey
Our attorneys are experienced in formation and governance of;
- Branch Offices
- Liasion Offices
- Limited Liability Companies
- Joint Stock Companies
- Free Trade Zone Companies
- Joint Ventures
in Turkey. We maintain a unsurpassed practice counseling and representing large and small companies and boards of directors regarding entity formation and corporate governance matters. We advise our public and private clients on all matters concerning formation of new entities from corporate formalities to tax issues.
We regularly advise clients with respect to the formation of companies. Our services with respect to company formation include advising and drafting documents in connection with the formation of corporations, limited liability companies, and liaison offices. We provide targeted advice with respect to both the choice of entity and Turkish laws under the entity is to be organized.
We also advise our company clients on a full range of new laws and related matters, as well as other corporate governance rules. Our clients range from small private companies with no internal legal staff to medium size companies with their own internal legal staff. For each of our clients we tailor our approach to that client’s unique requirements.
Limited Company Registration in Turkey
A Turkish Limited Liability Company (LLC) needs to have an initial capitalization of 10.000.-TL (around 2,000.-USD) and 1 to 50 shareholders. A shareholder of an LLC has a partnership share calculated in accordance with the nominal value of capital subscribed to. In certain cases, the total share of each shareholder is regarded as one equity share, regardless of nominal value. Transfer of shares is subject to major restrictions in an LLC (such as approval by other shareholders representing 75% of the capital) and may be altogether restricted. Subject to the conditions prescribed in the Turkish Commercial Code and any conditions provided for in the Articles, it is possible to expel a shareholder, and a shareholder may also request from a court the dissolution of an LLC subject to certain conditions. As shares of an LLC is not represented by share certificates, share transfers are effected through registration of an executed and notarised sale and purchase agreement with the competent trade registry together with a shareholders’ decision approving such share transfer.
Limited Company Registration in Turkey Fast
Although liability of the shareholders is limited to the amount of share capital owned in the company, and the shareholders are not personally liable for any debt or other liability of the company, shareholders of an LLC may be held liable for the public debts of the company, such as tax liabilities. Despite the restriction on the companies for acquiring their own shares, if an LLC ends up acquiring the shares of one of its shareholders against its receivables, then the shareholders are jointly liable for the payment of the un-paid portion of the newly acquired shares by the company.
We maintain a unsurpassed practice counseling and representing large and small companies and boards of directors regarding LLC formation and governance matters. We advise our clients on all matters concerning formation of new entities from corporate formalities to tax issues.
Turkish Joint Stock Company Registration
Turkish Joint Stock Companies (JSC) can be established for an indefinite period with at least one real person or legal entity shareholder, and an initial capital of at least 50.000.-TL (around 10,000.- USD). Under Turkish law, certain activities such as banking or insurance can only be carried out by companies established as a JSC. In addition, only JSC may offer its shares to public, and trade its shares at the stock exchange. The capital of a JSC is divided into shares, each being separate and conferring equal rights in proportion to their nominal value, except in case of special privileges. Shares are freely transferrable, however certain transfer restrictions may be set forth in the Articles of Incorporation. Share transfer in JSC is effected through endorsement and delivery of the share certificate or provisional share certificate, as the case may be. Furthermore, once a share subscribed is paid in full, the holder of that share may not be expelled.
Turkish Joint Stock Company Registration Services
We maintain a unsurpassed practice counseling and representing large and small companies and boards of directors regarding JSC formation and governance matters. We advise our clients on all matters concerning formation of new entities from corporate formalities to tax issues.
Branch Office Registration in Turkey
Branch offices have autonomous capital and accounting to carry out commercial transactions with third parties, although they are closely associated with the parent company in respect of internal management. This means that rights, debts, profits and losses of the branch offices are assumed by the parent company. A branch office can only engage in activities of its parent company. It cannot provide goods and services or engage in any commercial activities that are not specified in the parent company’s articles of association. Although there is no legal capital requirement for branch offices, it is required that the incorporating company maintains a capital sufficient to run the branch office in practice.
A branch office shall use the same corporate name as that of the parent company by indicating that it is a branch office and also contain the location of the head office and the branch office. A fully authorized commercial representative (branch office manager) residing in Turkey needs to be appointed in order to run day-to-day business of the branch office.
Branch Office Registration Services
We maintain a unsurpassed practice counseling and representing large and small companies and boards of directors regarding branch office formation and governance matters. We advise our clients on all matters concerning formation of new entities from corporate formalities to tax issues.
Our clients range from small private companies with no internal legal staff to large companies with their own internal compliance teams. For each of our clients we tailor our approach to that client’s unique requirements
Turkish Joint Venture Registration
Joint ventures are becoming more commonly used in all industries as businesses with complementary operations seek to collaborate to develop new projects, pursue joint financing to expand distribution, or realize other strategic business objectives in Turkey and around the world. Akkas & Associates Law Firm has extensive experience with joint ventures in various industries and practices. We work with clients on all stages of joint venture formation and management. Our Joint Ventures attorneys focus on specific industries:
Energy Joint Ventures
Our attorneys have significant experience in negotiating joint ventures in the energy industry. We have represented publicly traded energy companies, large private equity funds, public and private institutions, foreign investors, university endowments and a variety of taxable and tax-exempt investors in their energy investments and joint ventures. We also have significant experience in representing management teams in their negotiations with private equity fund investors. Our practice group has assembled a team of lawyers and legal professionals with diverse, but complementary, experience so that we may provide assistance in all matters affecting our energy clients and their businesses. Our lawyers have knowledge in oil and gas, power, clean energy, corporate-securities, mergers and acquisitions, partnership, tax, international, venture capital, employment, environmental, finance, and litigation issues that affect the energy industry. This multi-disciplinary approach affords our clients efficient access to lawyers possessing the depth of experience necessary to address any need they may have, while creating a team of professionals particularly suited to providing the creativity and flexibility necessary to guide those clients through the rapidly evolving legal and regulatory landscape.
Projects Joint Ventures
Akkas & Associates has extensive experience counseling joint ventures and investors in joint ventures, often in cross-border situations. Our lawyers work closely with consortium members or venturers and their in-house counsel, or with an individual investor in a project, to identify their business, tax, financing, governance and other concerns and priorities, and to develop appropriate structures and approaches. Our experience and understanding of the underlying business allows us to provide practical advice to help clients achieve project success.
The significant capital costs and high commercial risks associated with the energy industry frequently create the need for complicated and innovative joint venture structures to achieve economies of scale, to allocate risks and to access market opportunities for substantial capital investments, including joint ventures involving oil and gas exploration and development, electric power projects, gas storage facilities and pipeline and LNG projects. We have structured, negotiated and documented joint venture arrangements in many sectors of the energy industry, where industry participants frequently act through joint ventures.
In addition to the energy sector, we have extensive joint venture experience across many other industries, including telecommunications (cable, telephony, satellite services and the Internet), transportation (airlines), pharmaceuticals and healthcare, entertainment and sports, real estate, information technology, computer technology, software development, transportation and mining.
Akkas & Associates’ corporate practice handles entire joint venture endeavors from inception to final agreement, with special emphasis on structuring the venture entity, tax planning and corporate governance between or among the partners.
Real Estate Joint Ventures
Real estate joint ventures are a common vehicle for blending development expertise, product expertise and local knowledge with capital sources. These capital sources include public funds, private funds, high net worth individuals, and tax-exempt investors (including retirement funds and sovereign funds). Akkas & Associates has extensive experience in the formation of joint ventures representing the service provider and the capital source. Akkas & Associates’s experience extends to the formation of joint ventures involving tax-exempt entities in joint enterprises with taxable entities. Our joint venture experience includes both acquisition and development of the following real estate product types: office, hospitality, retail, mixed use, special venues, and land development.
Free Zone Company Registration in Turkey Services
A Turkish Free Trade Zone is a specially designed production site which aims at increasing export-oriented investment and production in Turkey, accelerating the entry of foreign capital and technology into Turkey, enhancing the productivity and economies of scale and increasing the utilization of external financial sources and trade opportunities. Although an Free Trade Zone is within the boundaries of the Republic of Turkey, it is treated as if it were a territory abroad. National regulations relating to foreign trade, financial and economic areas are partially applicable to Free Trade Zones. There are 20 Free Trade Zones in Turkey and their annual trade volume amounted to more than $ 23 billion in year 2005.
We maintain a unsurpassed practice counseling and representing large and small companies and boards of directors regarding company formation in a Turkish Free Trade Zone and governance matters. We advise our clients on all matters concerning formation of new entities from corporate formalities to tax issues.
Free Zone Company Tax Incentives
- Production companies in a Free Trade Zone are exempt from both corporate and income taxes.
- Goods imported from abroad are exempt from customs duty. In addition, there are no restrictions on the age/model of machinery to be imported from abroad, and these items are exempt from both VAT and customs duty.
- Goods purchased in Turkey by companies located in a Free Trade Zone are exempt from VAT.
- Companies based in a Free Trade Zone can keep their products in a designated duty-free storage area for an indefinite period of time and they can export the products in lots at any time (at the time of export, a customs duty for the lots is paid).
- Energy, water and telephone utilities supplied within a zone are all exempt from special consumption tax (OTV) and VAT
Free Zone Company Operating Licence
In order to operate in a Turkish Free Trade Zone, companies need an Operating Licence which is granted by the Regulator mentioned above. The firms which are found appropriate to get an Operating Licence and which intend to rent an open area must sign a rental contract with the Zone Operator, or Founder & Operator. Firms intending to rent a closed area must sign a rental contract with one of the users holding Renting Operating Licence. Upon the submission of a copy of the rental contract approved by the related Zone Directorate to the regulator, operating licence is granted to the applicant.
Reach our Turkish Company Registration Lawyers
Since its foundation in 1992, Akkas & Associates Turkish Law Firm has been the choice of numerous clients in Istanbul, Turkey. Thanks to its nationally recognized company formation practice, our firm is now one of the leading company registration law firms in Istanbul, Turkey. You may reach our Turkish company registration lawyers through our Contact page.