Company Formation
Limited Liability Company (Ltd. Şti.)
The most common company type in Türkiye. Fast to set up, low capital requirement, suited to SME scale.
- Minimum capital
- TRY 50,000
- Paid up at incorporation
- No
- Shareholders
- 1–50
- Incorporation time
- 2–5 business days
- Foreign ownership
- 100% permitted
- Commercial activity
- Yes
Who it suits
- Trading, consultancy, software and service businesses
- Family or partnership structures with one to three shareholders
- Foreign investors entering the Turkish market at low cost
Key points
The number of shareholders may not exceed 50. At least one manager must be authorised to represent the company, whether a shareholder or an external appointee; there is no residency requirement.
Advantages
- TRY 50,000 minimum capital with no requirement to pay it up at incorporation
- Can be formed with a single shareholder, who need not be a Turkish national
- Formation and running costs markedly lower than a joint stock company
- Simpler general assembly and governance formalities
Points to watch
- Shareholders are personally liable, pro rata to their shareholding, for the company's unpaid public debts (tax, social security)
- Share transfers require notarisation and a general assembly resolution — less practical than in a joint stock company
- Cannot go public or issue bonds
- The capital gains exemption on share disposals by individual shareholders does not apply
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.