joint stock companies
A joint stock company is a company in which the capital is divided into shares and distributed to the shareholders, and the responsibility of the partners is each shareholder according to the percentage of his share in the capital, and this company is only responsible for its debts. The money is 50,000 Turkish liras. As for non-public joint stock companies that accept the registered capital system, the required initial capital varies as it may be at least 100,000 Turkish liras.
According to the law, a quarter of the nominal value of the shares pledged by the company must be paid in cash before registration, and the rest of the amount is to be paid within 24 months after the company's registration.
As for the payment schedule, it is determined by either the company or the board of directors
Turkish law allows joint-stock companies to be established for all kinds of economic purposes and commercial matters, provided that they are not in violation of the law
As for shares, joint stock companies have the right to issue registered shares and bearer shares (with the aim of representing these shares) through the written statute and registered in the commercial register located at the company’s head office. The company also has the right to issue similar bonds and debt instruments.
Legally it is also possible to establish a joint stock company with one share.
Joint stock companies that carry out certain areas of activity and joint stock companies that exceed the threshold values of the criteria determined by the total number of assets, annual net sales revenue and the number of employees are subject to independent review.
The approval of the General Assembly is not required in most cases to transfer shares, and shareholders may freely transfer their shares to other parties
Finally, joint stock companies are the only type of companies whose shares are offered to the people and whose shares are traded on the stock exchange
Joint stock companies are divided into two structures
Board of Directors
It is the body officially responsible for managing and representing the company, and the board of directors may consist of only one member.
It is not a requirement that the members of the board of directors have Turkish citizenship or be Turkish citizens, and there is no requirement that the board member reside in Turkey
General Assembly
It is the body that has full powers to take some important decisions about the company, (such as amending the articles of association, electing the board of directors, electing the auditor, closing the company, etc.
In which all shareholders are represented
Advantages and disadvantages of joint stock companies
- Achieving the minimum number of shareholders 5 shareholders.
- Opening a bank account in the name of the company according to the Commercial Companies Law (*mandatory*)
- Deposit the company's capital in the company's own bank account.
- Practicing more than one activity under the same trade name.
- Add all commercial activities in the articles of association.
- The partners’ liability for the company’s debts is limited, and it is only to the extent of the contribution, and no more than that is required.
- High fees and expenses upon incorporation
- High fees and expenses when amending one of the terms of the contract, changing the address or activity, or changing the manager.
- It requires the approval of many official authorities
- The difficulty of liquidating and closing the company
- Appointing more than one chartered accountant to audit the final accounts
- Publishing the financial report for each fiscal year in the readable media (the newspaper)
These companies need permission from the Ministry of Commerce when established
- Companies that convert foreign currencies
- Companies engaged in general retail trade
- Licensed insurance companies for agricultural products
- Stock exchange companies specializing in products
- Independent Audit Firms
- Surveillance companies
- technology development companies
- Companies Establishing and Operating Free Zones
- Banks
- Financial leasing companies
- factoring companies
- consumer finance companies
- Asset management companies
- Insurance companies
- Holding companies incorporated as joint stock companies
The joint stock company is called in foreign countries by the following names:
| Given Name | Country |
|---|---|
| Company (company, corp) joint stock | United States, Canada |
| Societas Europaea SE | European Union |
| Aktiengesellschaft AG | Germany, Austria and Switzerland (German-speaking cantons) |
| Societé Anonyme SA | France, Belgium and Switzerland (French-speaking cantons) |
| Public Limited Company PLC | United Kingdom |
| Società per Azioni SpA | Italy |
| Sociedad Anónima S.A | Spain, Mexico and Argentina |
Types of companies in Turkey
Limited companies Ordinary partnership is a privately owned company
A personal company is a type of commercial licensing that is well known in Turkey, and it is the most prevalent among owners Turkish professional and commercial activities
This type of business is typical for small and medium-sized business owners in Turkey
Cooperatives are partnerships with variable and joint ventures founded by real and legal persons in order to provide and protect Specific economic interests of the partners
The capital of the joint-stock company in Turkey is divided into shares, and the liability of the shareholders is limited
This company is established to operate a commercial project under a specific commercial name, and the responsibility of any of the shareholders and there is no limit Minimum required capital
English 
العربية