Limited Liability Companies

Limited company, under a trade name by one or more real or legal persons
is established; basic capital is definite and this capital consists of the total of basic capital shares.
Turkey has established as most companies are limited liability companies.
With the new regulation in a limited company, the general assembly has become a mandatory body. Administration
and directors replace the board. Who will be the directors must be stated in the general agreement.
should be specified.

LEGISLATION
Turkish Commercial Code:
ARTICLE 573 – (1) A limited liability company is a legal entity by one or more real or legal persons.
established under the trade name; the basic capital is definite and this capital shares
It consists of the sum.
(2) The partners are not liable for the debts of the company, only the capital they have committed
additional payment and ancillary performance stipulated in the articles of association and by paying their shares
They are obliged to fulfill their obligations.
(3) A limited liability company can be established for any economic purpose and subject that is not prohibited by law.
Establishment of the Company
ARTICLE 576 – (1) The following records must be clearly stated in the articles of association:
a) The trade name of the company and the place where its headquarters is located.
b) The company’s business subject, with its essential points specified and defined.
c) Nominal amount of basic capital, number of basic capital shares, nominal values, if any
privileges, groups of basic capital shares.
d) Names, surnames, titles, nationalities of directors.
e) The form of the announcements to be made by the company.
Partners’ Responsibility
ARTICLE 603 ​​- (1) With the partnership agreement, additional payments other than the basic capital share amount
They can also be held liable with. The fulfillment of this obligation from the partners, however,
a) The sum of the company’s basic capital and legal reserves
unable to meet,
b) It is not possible for the company to continue its business properly without these additional tools,

c) Another situation that is defined in the articles of association and causes the need for equity has been realized.
to be found,
may be requested in cases.
(2) With the opening of the bankruptcy, the additional payment obligation becomes due.
(3) The additional payment obligation is only valid in the articles of association based on the basic capital share.
can be estimated as an amount. This amount is twice the nominal value of the basic capital share.
cannot exceed.
(4) Each partner only pays the additional payment of his / her own basic capital share.
is obliged.
(5) If the conditions are met, additional payments are requested by the managers.
(6) The reduction or abolition of the additional payment obligation can only be
it is possible if the sum of the reserves fully covers the losses. Supplementary payment
on decreasing the capital base on the reduction or abolition of liability
the provisions are applied by analogy.

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