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Turkey: Operating a Business

Setting Up a Company | Working Conditions | Cost of Labor | Social Partners

Setting Up a Company

Legal Business Entities

Types of Companies and Capital (Max/Min)	Number of Partners/Shareholders and Liability
The Limited Sirket is a limited liability company TRY 50,000	5 partners minimum Liability is limited to the amount of capital contributed.
The Anonim Sirket is a public limited company TRY 50,000	5 partners minimum Liability is limited to the amount of capital contributed.
Limited Liability Partnership TRY 50,000	2 partners minimum 50 partners maximum Liability is limited to the amount of capital contributed.
Individual company The notion of capital does not exist. The assets of the company are merged with those of the head of the company.	1 person The businessman is indefinitely liable for the professional debts on the whole of his assets.
General partnership (SCS) or joint-stock company (SCA) SCS: Contrary to joint-stock companies (SA, SAS, SCA), no minimum capital is required to constitute an SCS.The partners decide freely the amount of capital to be paid up at the constitution. SCA: The same rules as for an SA.	The SCS - SCA is made up of two distinct categories of partners: the active partners and the silent partners. The silent partners are the shareholders of the company, and are only liable for debts according to the amount of capital they have contributed. The shares are registered. The silent partners' assembly follows the same rules as in a public limited company (SA). The active partners have the status of traders, and are appointed by the silent partners. They are indefinitely and jointly liable for debts on their own property.

The Competent Organization: The Chambers of Commerce and Industry in each region where the headquarters of the company have been set up:
Istanbul (ITO) ; Izmir (IZTO) ; Bursa (BTSO) ; Ankara (ATO)

Setting Up a Company	Turkey	Eastern Europe & Central Asia
Procedures (number)	6.0	6.3
Time (days)	6.0	16.3

Source: Doing Business.

Business Setup Procedures: Consult Doing Business Website, to know about procedures to start a Business in Turkey.
Turkish Trade Registry Gazette
Trade Register

Working Conditions

Legal Weekly Duration: 45 hours. For further details concerning work regulations, click here.
Retirement Age: 50 for women and 55 for men.
Working Contracts: The work contract is first and foremost governed by individual negotiation.
The formality of the work contract and the conditions of dismissal are rigid. Dismissals have to be justified only if the number of employees in the firm is more than 30.

Cost of Labor

Minimum Wage: 305 EUR / month
Average Wage: The average monthly gross earnings in Turkey is USD 1,168.
Social contributions: Social Security Contributions Paid By Employers: 19.5 %.
Social Security Contributions Paid By Employees: 14%

Social Partners

Social Dialogue and Involvement of Social Partners: In general, the power of the unions is not at all strong.
Unions: DISK
Hak-Is
Turk-Is
KESK
BASK
HAKSEN
Unionization Rate: The unionization rate in Turkey is quite low. The unions are stronger in the public or semi-public sectors.
Labor Regulation Bodies: Ministry of Labor
Employers' confederation
Employers' confederation

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Last Updates: January 2012