As per the Turkish Commercial Code (“TCC”), there are 2 primary types of Companies. These are, Joint Stock Company “Anonim Şirket” and Limited Liability Companies “Limited Şirket”. There are also 2 other Company types which, in practice, are not commonly seen or established. These are Collective Companies “Kollektif Şirket” and Commandite Companies “Komandit Şirket”. In practice, Joint Stock Companies and Limited Liability Companies are established whereas Collective and Commandite Companies are not often established.
Shareholders’ rights and potential disputes
The rights and obligations of a shareholder are regulated by the TCC. As per the articles mentioned therein, the shareholders have certain rights towards each other and towards the Company. In addition, the shareholders who have at least 10% shareholdings in a Company have special rights as they are considered a “minority”.
