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flag Turkey Turkey: Operating a Business

In this page: Setting Up a Company | The Active Population in Figures | Working Conditions | Cost of Labor | Social Partners

 

Setting Up a Company

The Limited Sirket is a limited liability company
Number of partners: 1 partners minimum and up to 50 maximum.
Capital (max/min): TRY 10,000
Shareholders and liability: Liability is limited to the amount of capital contributed.
The Anonim Sirket is a public limited company
Number of partners: 1 partners minimum.
Capital (max/min): TRY 50,000
Shareholders and liability: Liability is limited to the amount of capital contributed.
Limited Liability Partnership
Number of partners: 2 partners minimum
50 partners maximum
Capital (max/min): TRY 50,000
Shareholders and liability: Liability is limited to the amount of capital contributed.
Individual company
Number of partners: 1 person
Capital (max/min): The notion of capital does not exist. The assets of the company are merged with those of the head of the company.
Shareholders and liability: The businessman is indefinitely liable for the professional debts on the whole of his assets.
General partnership (SCS) or joint-stock company (SCA)
Number of partners: The SCS - SCA is made up of two distinct categories of partners: the active partners and the silent partners.
Capital (max/min): 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.
Shareholders and liability: 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 6.0
Time (days) 6.0 14.0

Source: Doing Business.

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

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The Active Population in Figures

20112013
Labor force 26,690,00027,910,000

Source: CIA - The world factbook

 
200920102011
Total activity rate -46.80%49.50%
Men activity rate 69.60%71.40%71.40%
Women activity rate 24.00%28.10%28.10%

Source: UN - United Nations

 
Employed Persons, by Occupation (% of Total Labor Force) 2008
Manufacturing 20.0%
Construction 5.9%
Transport and Storage 5.1%
Hotels and Restaurants 4.7%
Education 4.3%
Real Estate, Renting and Business Activities 4.3%
Health and Social Work 2.8%
Mining and Quarrying 0.5%
Electricity, Gas and Water Supply 0.4%

Source: International Labor Organization (ILO)

 
For Further Statistics
Ministry of Development

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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.
Labor Laws
Consult Doing Business Website, to obtain a summary of the labor regulations that apply to local entreprises.

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Cost of Labor

Minimum Wage
TRY 837 per month (source: ILO, 2011).
Average Wage
Gross average monthly wage of men: TRY 1,509 (source: ILO, 2010);
Gross average monthly wage of women: TRY 1,518 (source: ILO, 2010).
Social contributions
Social Security Contributions Paid By Employers: 19.5 %.
Social Security Contributions Paid By Employees: 14%

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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: October 2014