It is called the companies, which are established by two or more real or legal persons under a trade name and whose capital is limited by the capital they are responsible for.
It can be installed with up to 50 people. The minimum capital is 10.000 TL.
Partners may be natural or legal persons.
The trade name and type of company should be specified in the trade name.
They cannot issue shares and bonds, and do not engage in banking and insurance.
The liability of the company is the amount of the company's assets. The responsibility of the shareholders is limited to the capital amount they are committed to, and the shareholders are relieved of these responsibilities as long as they fulfill their capital commitments.
There is no separate board of directors as in joint stock companies. The management of the company is carried out by the board of directors. Unless otherwise agreed, each of the partners has the authority and responsibility to manage, represent and represent the company as a director.
The Competition Prohibition applies to partners who are as directors.
In limited companies with less than 20 partners; the board of directors has the authority of management and representation. Partners can make a decision in writing before they come together. A sufficient number of decisions is not determined by the number of partners. Partners representing more than half of the paid-in capital must vote in favor. There is no supervisory body and partners who do not have the title of manager use this authority.
For those with more than 20 partners, the General Assembly and Audit Body are formed and the provisions of the joint stock company are applied.