● Trade license can be obtained for all activities except banking, insurance, and investment activities.

     ● A company can be established with minimum two and maximum fifty shareholders. Partner liabilities are                      proportional to company capital share.

     ● Minimum 51% of shares can belong to local citizen and maximum 49% to foreign investor.

     ● Initial capital is not obligatory.

     ● Profit distribution ratio can be identified differently from shares. 100% profit distribution can only be made to               one partner.

     ● Board Members are chosen by General Assembly and number of member should be 5, the maximum.

     ● During establishment company directors should be declared to Memorandum of Association. Foreign individuals          or partners can be appointed as directors to run everyday work the company.

     ● After completion of registration procedures, Trade License is obtained from Department of Economic                            Development and registration to Chamber of Commerce and Trade should be made.

     ● A dispensation should be obtained from relevant public institutions in regard to company’s area of activities; for           instance dispensation should be received for Production from Ministry of Finance and Industry, Banking and                 Finance from Central Bank and Construction or Food Production from affiliated Municipality. 

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