What is a Limited Liability Company? How to Establish a Limited Company, What is the Establishment Fee?

What is a limited company how to establish a limited company What is the fee to establish a limited company
What is a limited company how to establish a limited company What is the fee to establish a limited company

Companies established by one or more persons in real or legal persons are called Limited Companies. With the Law No. 10 published in the Official Gazette dated March 2018, 7099, the establishment of the Limited Company was gathered in one place and the establishment process has now been facilitated since it is established from a single point.

The limited liability company agreement is now being signed at the Trade Registry Office. In the previous practice, although the Turkish Commercial Code (TCC) allowed the company agreement to be signed in the presence of the trade registry manager / assistant, this could not be practiced and it was compulsory to go to the notary public for the establishment of a limited company.

With the amendment made, the practice of notarizing the signatures of the founders of limited companies in the contract by the notary public has been removed. The practice of submitting the signature declaration of those authorized to sign on behalf of the company by making a written statement at any trade registry office has been introduced.

Documents Required to Establish a Limited Company

Limidet company; As per the Turkish Commercial Code No. 6762; By two or more natural or legal persons in Article 503; It is a company established under the trade name, limited by the capital committed by the partners to be liable and whose principal capital is determined. However, with the new regulation, limited companies can only have one partner. The maximum number of partners was determined to be 50. A capital commitment of at least ten thousand Turkish lira is required. In addition, those who will be shareholders must have deposited more than 25 TL.

The documents required to establish a limited company are briefly; petition, Establishment Notification Form, Notarized Contract, Residence Certificate, Chamber Registration Statement, Receipt of Capital Deposit, Lease Contract.

All kinds of commercial activities determined and agreed within the framework of the laws can be carried out with a limited company. However, what should be known at this stage is that limited companies cannot be established for the banking and insurance sector. The authorities and shares of all partners are also determined according to the provisions of the contract made when the company was established.

How is a Limited Liability Company Established?

Various obligations must be fulfilled during the establishment of a limited company. The most important of these is choosing the trade name. And also; to notarize the selected trade name and the signatures of the persons authorized to sign, deposit the amount of four ten thousandths of the capital to the account of the Competition Authority, three copies of the company's articles of association, one of which is the original, to be registered to the trade registry office authorized in the fields in which the company operates within 15 days. and submit the notarized statement of signature. In addition, it is necessary to submit the registration statement containing the information stated in Article 511 of the Turkish Commercial Code to the trade registry office. Other important issues to establish a limited company are; It is to submit the letter of undertaking to be issued in accordance with Article 29 of the Trade Registry Regulation to the trade registry office and, in case the founders of the company are real persons, to submit their residence certificates to the trade registry office with an approved identity card. If the founders of the company are legal persons; It is necessary to submit the notarized participation decisions of the authorized units to the trade registry office. However, if the same capital is in question, it is also necessary to register the court expert decision and the court approved expert report at the trade registry office in order to express the value of the same capital. For tax and social security registration, it is necessary to submit the company establishment petition form to the trade registry office, but also to register with the authorized chamber of commerce or the chamber of commerce and industry in the region where the enterprise operates. Ad showing that business and trade names are required to be registered in the Trade Registry Gazette publish Turkey.

A Limited Liability Company Is Established With The Least And Maximum Number Of People?

A Limited Liability Company can be established with a minimum of two and a maximum of fifty persons. LTD companies must have an internal auditor if the number of partners is over 20.

How Limited Liability Company Decisions Are Made

Decisions in the Limited Company are taken by majority vote.

What are the Mandatory Units in a Limited Liability Company?

Mandatory units that must be present in a limited company are the general assembly and managers. General Assembly; It is a mandatory unit for limited liability companies. It can be expressed as the meetings held mostly every three months, where the limited liability company partners discuss the general rights, administrative status and financial conditions of the company. Managers by the general assembly; they are managers who represent and also manage the company. Their appointments are also made by the general assembly.

What is the Fee for Establishing a Limited Liability Company?

In general, the fee for establishing a limited company; These are non-standard wages determined according to many factors such as capital, number of managers, rental amount and sector costs. In addition, the city where the company is established appears as a factor that affects the price. Although there is no standard wage in general, the capital must be at least 10 thousand TL and it is obligatory to hire a single manager with a single partner. It would be better to discuss the remaining expenses with the financial advisor.

Armin

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