Establishment (Foundation) of a Collective Company
This is an association which has been established with the purpose of engaging in commercial activities under a common trade name. Its most important characteristic is the unlimited liability of the partners for the debt of the association. No minimum capital is required It is mandatory that all share holders should be real person. The relationship between share holders is designated in the articles of association freely.
Articles of partnership of a collective company is subject to written procedure.
The required points must be included in the articles of partnership of a collective company are given as follows:
- Names, Surnames, place of residence, nationalities and TR Identity numbers of the shareholders/partners, (if the partner/shareholder/company manager is a foreign national, his/her tax number or identification number peculiar to the foreign nationals)
- The type of the company is collective,
- Commercial title and the registered office of the company,
- The field of activity,
- Sort of capital to be invested by each shareholder/partner and its amount,
- Authorized persons and type of representation,
- Commercial title of the company must indicate the type of the company by the name and surname of all the shareholders or one of their name and surname.
Registration Procedures (Transactions)
(1-) Petition must be signed by all of the founders, if is signed by proxy, original form or authenticated copy of the power of attorney must be enclosed, tax office where the company is registered must be indicated and included with the attached documents. The commercial title, capital, registered office (company headquarters), starting date of business, field of activity on this date and NACE code regarding that must be specified clearly and the following statement must be included as; “the information contained in this petition is complete and accurate, if otherwise is determined the person or persons signing this petition shall be responsible.”
(2-) Establishment Statement (or Statement of Establishment); (the related gaps must be filled in and signed by an authorized person - (3 copies),
(3-) Founding charter (articles of association) signed by all of the founders of the company and notarized (4 copies),
(4-) Statement of signature (declaration of signature or the list of authorized signatures) of the authorized person(s) under the commercial title of the company (2 copies),
(5-) Chamber Registration Statement, (must be signed by the partners (shareholders) and must be with photos of the partners (shareholders)),
(6-) Original form or notarized copy of the permission writ / license obtained before the General Directorate of Free Zones if the the collective company will be established in the free zone. (1 copy)
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