İncorporated company; It is a company whose capital is determined and divided into shares, and which is responsible for its debts only with its assets.
What are their purposes: A joint stock company can be established for any economic purpose and subject that is not prohibited by law.
Partnership structure: A single partner joint stock company can be established. The liability of the partners to the creditors of the company is limited to the capital they have invested.
Capital structure: The capital must be at least 50,000.- TL. In non-public joint stock companies that have accepted the registered capital system showing the ceiling of authority granted to the board of directors in increasing the capital, the initial capital cannot be less than one hundred thousand Turkish Liras (100,000 TL).
At least 1⁄4 of the nominal value of the shares committed in cash must be paid before the registration, and the remainder within twenty-four months following the registration of the company.
Elements of assets, including intellectual property rights and virtual environments, that do not have limited real rights, liens and measures, that can be evaluated and transferred in cash, can be invested as the same capital. Acts of service, personal labor, commercial reputation and undue receivables cannot be capital. Joint stock companies can offer their shares to the public.
Management: The joint stock company is managed and represented by the board of directors. appointed by the articles of association or elected by the general assembly, one or more
There is a board of directors made up of one person. Members of the board of directors are elected to serve for a maximum of three years. If there is no contrary provision in the articles of association, the same person can be re-elected.
Members of the board of directors may be paid attendance fees, wages, bonuses, premiums and a share of the annual profit, provided that the amount is determined by the articles of association or the decision of the general assembly.
you can read our other articles and petition examples by clicking here.