Over the past decade, Turkey has succeeded in partnerships between local and foreign companies. These partnerships usually took place in Turkey’s joint venture registration agreements, which were recently incorporated into foreign investment legislation.

According to Turkish law, the most common and standard forms of joint ventures are:

contractual partnership in Turkey;

simple partnership in Turkey;

Turkish joint-stock company;

limited liability company.

A joint venture is a form of interaction of entrepreneurial entities on a permanent basis for close cooperation and achievement of joint goals. Creation of a fully functional joint venture in Turkey requires the approval of the Competition Council. When opening a company in Turkey, together with one or several foreign partners, there are nuances associated with management, participation, profit sharing and risk sharing. One of the most relevant ways of international business cooperation is the creation of a joint venture. Our lawyers work with the most complex issues of contract law in Turkey, including the development of individual terms of complex international treaties. An effective contractual scheme of relationships with counterparties is crucial for achieving a business result. The fundamental principle of Turkey’s investment rules is the principle of equal treatment between foreign and domestic investment. Foreign investors are subject to the same requirements as domestic investors.

Why are joint ventures created?

Joint ventures are created for economic purposes, to improve the efficiency of the parties. Such enterprises are organized by participants from different industries who need close cooperation with each other.

The main goals of creation joint ventures are:

Market saturation with new products;

Attracting advanced technologies, innovations, development;

Attraction of additional financial resources.

What is the algorithm for creating joint ventures?

conducting negotiations, reaching a preliminary agreement;

determination of the institutional-legal form, the formation of documentation (corporate agreement, charter, additional agreements on specific types of activities, minutes of general meeting);

approval of a corporate contract;

the signing of the corporate contract;

registration of a legal entity.

What services do we offer when setting up a joint venture in Turkey?

Support at the stage of setting up a company;

Preparation of documents for company registration;

Drafting of contracts and agreements;

Verification and analysis of contracts provided by counterparties, suppliers or contractors;

Representing the interests of the Trustee in all types of contracts in the Court.