Company Formation
Joint Stock Company (A.Ş.)
The right choice for structures planning institutional investment, new shareholders or growth. Mandatory for many licensed activities.
- Minimum capital
- TRY 250,000
- Paid up at incorporation
- 25%
- Shareholders
- at least 1
- Incorporation time
- 3–7 business days
- Foreign ownership
- 100% permitted
- Commercial activity
- Yes
Who it suits
- Companies planning to raise investment or admit shareholders
- Activities subject to BDDK, SPK, Central Bank or EPDK approval
- Manufacturing, energy, finance and large-scale investments
- Groups targeting a public offering or corporate acquisition
Key points
Can be formed with a single shareholder. Board members need not be shareholders or resident in Türkiye; however, having at least one Türkiye-resident board member speeds up banking and tax processes in practice.
Advantages
- Shareholders are not personally liable for public debts; liability is limited to subscribed capital
- Share transfers generally require neither notarisation nor registration — an entry in the share ledger suffices
- Gains on shares held by individuals for more than two years are exempt from income tax
- Can go public and issue bonds and other debt instruments
- Many licensed activities may only be carried out as a joint stock company
Points to watch
- TRY 250,000 minimum capital; at least 25% of the cash capital must be paid before registration
- Non-public companies adopting the registered capital system need an initial capital of at least TRY 500,000
- Heavier board, general assembly and independent audit obligations
- Companies above certain thresholds must have a ministry representative present at the general assembly
Compare with other structures
Let's start with a conversation
In a free 30-minute call, let's clarify which company structure and which incentives fit you. Non-binding, but useful.