Corporate law is a constantly evolving and reforming body of law that governs issues of commercial law such as company establishment, mergers, and acquisitions as well as liquidation.
Turkish Corporate Law
Foreigners living in Turkey may look out for legal help regarding concerns such as company establishment, mergers and acquisitions, and even day-to-day operations of their companies. Turkish corporate lawyers can assist foreigners with these services as well as with disputes originating from areas covered by corporate law.
What is a Corporate Lawyer?
Corporate lawyer represents business clients, such as corporations, rather than individual clients. They typically assist new businesses with legal matters when they are being established, as well as when they evolve and develop from that moment.
What Does Corporate Law Cover?
Corporate law contains a wide variety of queries, from corporate formation and incorporation to major structural changes such as mergers and acquisitions, while also covering shareholder rights, investment, capital raising, and liquidation.
Companies can merge through the acquisition of one company by another (merger as an acquisition) or merger into a new company. (Merger as a new company).
The transfer of all or part of the assets of a capital company or a cooperative to one or more of the newly established or existing capital companies or cooperatives in return for giving a participation share to itself or its partners is called company division.
Joint stock, collective, limited partnership, or commercial enterprises may be transformed into limited liability corporations, and limited liability, collective, limited partnership, or commercial enterprises may be converted into joint stock companies.
What Does a Turkish Corporate Lawyer Do?
Turkish corporate lawyers handle the incorporation of companies in Turkey, the establishment of branches of foreign companies in Turkey, and the day-to-day operations of already established companies, as well as liquidations, mergers, and acquisitions. In addition to this, Turkish corporate law attorney assist corporations with contractual and legal issues.
Limited Liability Company Establishment in Turkey
Limited Liability Companies (LLC) are the most preferred commercial actors in Turkey, as in the rest of the world, due to their fast-decision-making mechanism and flexible structure.
It is also very convenient for foreign businesspeople who want to invest in Turkey. As a matter of fact, Turkish Law allows foreign real and legal persons to own 100% of the shares in the company. Foreign investors do not even need to visit Turkey for company establishment. It is possible to carry out the whole process remotely through a law office.
Investors can establish a limited liability company in Turkey by following the procedure stipulated under the Turkish Commercial Code No. 6102.
Joint Stock Company Establishment in Turkey
A Joint Stock Company (JSC) in Turkey can be preferred for investors who aim to go public in the future, or to be established as a holding, or who aim to operate in sectors requiring licenses such as precious metals, tourism, electronic money, communication services, financial technology, etc., or who want to participate in government tenders.
Turkish Law also allows foreign real and legal persons to own 100% of the shares in the company. Foreign investors do not even need to visit Turkey for company establishment. Investors may establish a joint stock company in Turkey following the guidelines outlined in Turkish Commercial Code No. 6102.
Company Establishment in Free zones in Turkey
Establishing a company in a Free Zone in Turkey is an unmissable opportunity, especially for investors who want to produce and/or export. Companies established in a free zone have numerous tax advantages. In these regions, there is no citizenship requirement to establish a company. It is also frequently preferred by foreign investors who want to increase their profits by taking advantage of tax advantages.
Liquidation of Companies in Turkey
Under Turkish law, liquidation is the process by which corporations located in Turkey and Turkish branches of companies headquartered overseas have ceased operating and their financial value is becoming forfeited.
Establishment of a Branch in Turkey
Companies may establish branches under Turkish Commercial Code which acts separately but is operated dependently to the headquarters of the company.
Establishment of a Branch of a Foreign Company in Turkey
Foreign-based companies may establish a Turkish branch where they mainly conduct business in Turkey.
What Types of Companies Does Corporate Law Deal With?
Companies covered by corporate law may vary globally due to each country differing on trade customs. Turkish Corporate Law mainly deals with five types of companies. Which can be counted as:
- Joint-Stock Companies
- Limited Liability Companies (LLC)
- Collective Companies
- Limited Partnerships
Group of Companies
A group of companies is a unified economic identity made up of various companies that include subsidiaries and parent corporations.
Collective Company and Limited Partnership
A collective company is a corporation founded with at least two real person partners to operate a commercial activity under a trade name, and none of these participants are restricted to the firm’s creditors.
While a limited partnership refers to a type of company which is formed by at least two partners, one with limited liability (dormant partner) and the other with unlimited liability to the company’s creditors (active partner).
An incorporated company (“joint stock company”) is the type of company in which the basic capital is divided into shares and the liability of the partners against the debts is limited to the share of the capital they have committed.
Limited Partnership with Shared Capital
Limited Partnership with Shared Capital is a firm whose capital is divided into shares where some of its partners are liable to the company’s creditors as general partners and others as joint stock company shareholders.
Limited Liability Company
A limited liability company, according to the law, is a type of corporation whose basic capital is determined and is comprised of the sum of the capital shares of one or more real or legal person partners.
Cooperatives are various partnerships founded by real and legal individuals.
Corporate Lawyer Turkey
Corporate Lawyer Turkey helps foreign companies in Turkey with the legal processes they need. There are many foreign companies serving in Turkey, and they sometimes need assistance in legal matters.Getting help from professional law firms helps carry out the process in accordance with Turkish law. The services provided in this context are specifically planned and provided to corporate clients. If you need the services of corporate lawyer Turkey, who is an expert in his field, our law firm helps you with foreign judge lawyers. If you want to benefit from these, you can get immediate support by contacting us in writing or by phone.
Company Formation Lawyer in Istanbul
There are many foreigners who plan to establish a company in Turkey. If you have plans in this regard, corporate formation lawyer in Istanbul is of great importance.Because every step of the company to be established must be carried out in accordance with the law. Otherwise, there are many problems that may occur in the future. It is very difficult for a foreign person to pay attention to what his company should pay attention to in Turkish law. Our company, which comes into play here and serves you, helps its corporate customers in the process of establishing a company, based in Istanbul.