The most common companies under Turkish law are limited liability companies and joint-stock companies. Both types of companies serve different purposes and are preferred by shareholders for different reasons. While there are many legal, financial and structural differences between limited liability companies and joint-stock companies, the 10 most vital differences are summed up in this ARTICLE.
One of the differences between limited liability companies and joint-stock companies is on the shareholders’ prohibition of competition with the company. Whereas in limited liability companies shareholders are prohibited from competing with the company, there is no such clear prohibition in law for the shareholders of joint-stock companies. However, there is a school of thought that argues that, in certain circumstances where the shareholders have direct control over the daily affairs of the company, the same prohibition of competition which is applied to the shareholders of limited liability companies should also be applied to the shareholders of joint-stock companies. For more information on the discussion of applicability of prohibition of competition for the shareholders of joint-stock companies, please check this ARTICLE.
Antalya Lawyer Baris Erkan Celebi and his law firm in Antalya handle incorporation of joint-stock companies and limited liability companies in all provinces of Turkey. Antalya Attorney Baris Erkan Celebi assists international investors and shareholders with their companies’ registration, restructuring, drafting and amending articles of association, changes in capital, transfer of shares, mergers and acquisitions. After the incorporation, Antalya Attorney Baris Erkan Celebi also offers full-scope services to businesses, such as obtaining tax identification numbers from and representation before tax offices, attending tax inspections, opening bank accounts and enabling the company director’s online access to the bank accounts, obtaining certificates of good-standing, assisting the companies with invoices, payments, drafting and signing contracts, benefiting from government incentives and tax incentives and reliable legal consultation regarding investments and recruitment.