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services, personal labor, goodwill and undue receivables may not be
contributed as capital.
Where the capital of the company shall entirely or partially be
undertaken in cash, 1/4 of the nominal value of the shares to be contributed
should be paid before the registration, while the remaining amount shall
be paid within 24 months subsequent to the registration. In other words,
in a limited liability company that shall be established with the minimum
capital amount, and where this capital is undertaken in cash, at least TRY
2.500 should be deposited to the bank account to be opened in the name
of the limited liability company to be established.
Trade Name
As per Article 39 of the TCC, each merchant should perform its
commercial activity under a trade name and use its trade name when
signing any deed related to its commercial enterprise.
The registered trade name should be written in a legible manner and
placed in plain sight within its workplace. Also, the documents used in
relation to the commercial enterprise should specify the trade registry
number, trade name, head office, and if required its registered internet
address.
Furthermore, the trade name of the company should contain the
words limited liability and refer to the company’s activities.
Articles of Association
Pursuant to Article 575 of the TCC, the articles of association of the
company should be in written form, and notary public should approve
the founders’ signatures. Within this framework, the following shall be
clearly stated in the articles of association:
– Company’s trade name and location of its head office;
– Scope of company business withmain points defined and specified;
– Nominal value of the capital, number of shares in the capital, their
nominal values, privileges attached thereto, if any, and groups of
shares in the capital;