Home News How many shareholders can the Limited Liability Company be established with?

How many shareholders can the Limited Liability Company be established with?

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How many shareholders can the Limited Liability Company be established with?

Description of Limited Liability Company

The limited liability company is established by one or more real or legal persons under a trade name. Its registered capital is determined and this capital consists of the sum of the capital shares.

Do the shareholders of the Limited Liability Company have responsibility for the company debts?

The shareholders are not responsible for company debts. They are only obliged to pay the capital shares they have committed and to fulfill the additional payment and performance obligations stipulated in the company contract.

Can the Limited Liability Company carry out all works from every field?

The limited liability company can be established for any economic purpose and subject which are not prohibited by law.

How many shareholders can be in a limited liability company at best?

The number of shareholders in limited liability companies cannot exceed fifty.

If the number of shareholders is reduced to one, the directors shall be notified in writing about this situation within seven days from the date of the transaction. Directors shall register and declare the name, place of residence and nationality of the company, which has one shareholder, from the date of receipt of the notification until the end of the seventh day, otherwise, they shall be liable for any damage that may arise. The same obligation applies if the company is established with one shareholder.

The Company cannot acquire its registered capital in a way that will result in the transformation of the company into a company with one shareholder.


Source: Turkish Commercial Code Article 573 and 574.
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.


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