A company may have one founder or several, but not more than fifty. The General Meeting of Founders elects a board of directors, which can include both Turkish citizens and foreigners. At least one director is appointed from among the founders of the company - this is a requirement of the Commercial Code. There may be one director in the company.
To take up the position of director, a Turkish stateless founder must obtain a work visa or citizenship. The conditions for obtaining a work visa are to increase the authorized capital to TL 100,000 ($5,640) and hire five Turkish citizens. The Turkish government protects the labour market.
Second Turkish citizenship can be obtained by investing in business or real estate. To do this, you need to open a company with a capital of $ 500,000 and create 50 jobs or buy real estate worth $ 400,000. If the investor does not plan to directly manage the company, then you can hire a Turkish citizen as a director and allocate a nominal share in the authorized capital to him.
