{"id":8851,"date":"2025-09-15T00:49:41","date_gmt":"2025-09-14T21:49:41","guid":{"rendered":"https:\/\/gnbtqytp2s.onrocket.site\/?post_type=makaleler&#038;p=8851"},"modified":"2025-09-15T00:50:33","modified_gmt":"2025-09-14T21:50:33","slug":"limited-partnership-turkey","status":"publish","type":"makaleler","link":"https:\/\/www.mfylegal.av.tr\/en\/articles\/limited-partnership-turkey\/","title":{"rendered":"Limited Partnership in Turkey | Structure, Liability &amp; Setup"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\"><strong>What is a Limited Partnership?<\/strong><\/h2>\n\n\n\n<p>A <strong>Limited Partnership<\/strong> in Turkey is a business structure that combines <strong>unlimited liability partners<\/strong> and <strong>limited liability partners<\/strong> under one entity. It is regulated by the <strong>Turkish Commercial Code<\/strong>.<\/p>\n\n\n\n<p>Unlike a <a href=\"\/en?p=8848\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Collective Company<\/strong><\/a>, where all partners are fully liable, a limited partnership distinguishes between <strong>active partners<\/strong> (unlimited liability) and <strong>dormant partners<\/strong> (limited liability).<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Types of Limited Partnerships<\/strong><\/h2>\n\n\n\n<p>There are two main forms:<\/p>\n\n\n\n<ol start=\"1\" class=\"wp-block-list\">\n<li><strong>Ordinary Limited Partnership<\/strong> \u2013 considered a <strong>private company<\/strong>, with no division of shares.<\/li>\n\n\n\n<li><strong>Limited Partnership Divided into Shares<\/strong> \u2013 classified as a <strong>capital company<\/strong>, more formal in structure, and closer to a <a href=\"https:\/\/mfylegal.av.tr\/en\/articles\/joint-stock-company-turkey\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Joint Stock Company<\/strong><\/a>.<\/li>\n<\/ol>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Partner Roles &amp; Liability<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Active Partners (Komandite):<\/strong>\n<ul class=\"wp-block-list\">\n<li>Must be <strong>real persons only<\/strong>.<\/li>\n\n\n\n<li>Carry <strong>unlimited personal liability<\/strong> for company debts.<\/li>\n\n\n\n<li>Manage and represent the company.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>Dormant Partners (Komanditer):<\/strong>\n<ul class=\"wp-block-list\">\n<li>Can be <strong>real or legal persons<\/strong>.<\/li>\n\n\n\n<li>Liability is limited to the <strong>capital they commit<\/strong>.<\/li>\n\n\n\n<li>Cannot participate in management.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<p>This dual structure allows some partners to invest capital without exposing themselves to unlimited liability.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Capital &amp; Establishment Rules<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Minimum Capital:<\/strong> No mandatory threshold for ordinary partnerships.<\/li>\n\n\n\n<li><strong>Divided into Shares:<\/strong> If structured as a \u201climited partnership divided into shares,\u201d the rules of capital companies (like A.\u015e.) apply.<\/li>\n\n\n\n<li><strong>Founders:<\/strong> At least <strong>two partners<\/strong> (one active and one dormant) are required.<\/li>\n\n\n\n<li><strong>Agreement:<\/strong> A written company agreement must clearly identify partner roles, capital contributions, and management rights.<\/li>\n<\/ul>\n\n\n\n<p>See the full paperwork breakdown in <a href=\"https:\/\/mfylegal.av.tr\/en\/articles\/documents-for-company-registration-in-turkey\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Documents for Company Registration in Turkey<\/strong><\/a>.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Management &amp; Governance<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Active partners are responsible for management, similar to collective companies.<\/li>\n\n\n\n<li>Dormant partners do not have management rights but retain financial rights (profit share).<\/li>\n\n\n\n<li>Management powers can be distributed among active partners via the company agreement.<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Advantages &amp; Disadvantages<\/strong><\/h2>\n\n\n\n<p><strong>Advantages:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Offers a balance between <strong>personal liability<\/strong> and <strong>limited risk capital<\/strong>.<\/li>\n\n\n\n<li>Suitable for family businesses or partnerships where some partners are passive investors.<\/li>\n\n\n\n<li>No strict capital requirement (unless divided into shares).<\/li>\n<\/ul>\n\n\n\n<p><strong>Disadvantages:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Active partners\u2019 <strong>unlimited liability<\/strong> deters many investors.<\/li>\n\n\n\n<li>Less flexible and less attractive for international expansion compared to Ltd. \u015eti. or A.\u015e.<\/li>\n\n\n\n<li>Dormant partners have limited say in operations.<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Comparison with Other Company Types<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Safer than <a href=\"\/en?p=8848\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Collective Company<\/strong><\/a> (since dormant partners\u2019 liability is limited).<\/li>\n\n\n\n<li>Less flexible and scalable than <a href=\"\/en?p=8844\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Limited Company<\/strong><\/a>.<\/li>\n\n\n\n<li>Cannot compete with <a href=\"\/en?p=8841\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Joint Stock Company<\/strong><\/a> if aiming for capital raising or public listing.<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Dissolution &amp; Liquidation<\/strong><\/h2>\n\n\n\n<p>Like other private companies, a limited partnership may be terminated by:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Decision of partners,<\/li>\n\n\n\n<li>Expiry of the term in the company agreement,<\/li>\n\n\n\n<li>Bankruptcy of the company or an active partner.<\/li>\n<\/ul>\n\n\n\n<p>Liquidation follows general partnership rules. For details see: <a href=\"https:\/\/mfylegal.av.tr\/en\/articles\/liquidation-of-company-in-turkey\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Liquidation of a Company in Turkey<\/strong><\/a>.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Suitability for Foreign Investors<\/strong><\/h2>\n\n\n\n<p>Foreign entrepreneurs typically avoid limited partnerships due to the <strong>unlimited liability<\/strong> imposed on active partners. Instead, they prefer the <a href=\"\/en?p=8844\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Limited Company (Ltd. \u015eti.)<\/strong><\/a> or the <a href=\"\/en?p=8841\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Joint Stock Company (A.\u015e.)<\/strong><\/a>, which offer liability protection and scalability.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Professional Legal Guidance<\/strong><\/h2>\n\n\n\n<p>Because the <strong>liability balance<\/strong> between active and dormant partners can create disputes, drafting a precise company contract is essential. MFY Legal provides expert support in structuring, registering, and advising on limited partnerships under Turkish law.<\/p>\n\n\n\n<p>Contact us today to discuss whether a Limited Partnership is the right choice for your business plans in Turkey.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>What is a Limited Partnership? A Limited Partnership in Turkey is a business structure that combines unlimited liability partners and limited liability partners under one entity. It is regulated by the Turkish Commercial Code. Unlike a Collective Company, where all partners are fully liable, a limited partnership distinguishes between active partners (unlimited liability) and dormant&#8230;<\/p>\n","protected":false},"author":2,"featured_media":8852,"parent":0,"template":"","meta":{"_acf_changed":true,"inline_featured_image":false,"_kad_blocks_custom_css":"","_kad_blocks_head_custom_js":"","_kad_blocks_body_custom_js":"","_kad_blocks_footer_custom_js":"","_kad_post_transparent":"","_kad_post_title":"","_kad_post_layout":"","_kad_post_sidebar_id":"","_kad_post_content_style":"","_kad_post_vertical_padding":"","_kad_post_feature":"","_kad_post_feature_position":"","_kad_post_header":false,"_kad_post_footer":false,"_kad_post_classname":""},"custom-post-tag":[143],"practice-area":[160],"published-year":[157],"class_list":["post-8851","makaleler","type-makaleler","status-publish","has-post-thumbnail","hentry","custom-post-tag-articles","practice-area-commercial-law","published-year-2025-en"],"acf":[],"taxonomy_info":{"custom-post-tag":[{"value":143,"label":"Articles"}],"practice-area":[{"value":160,"label":"Commercial Law"}],"published-year":[{"value":157,"label":"2025"}]},"featured_image_src_large":["https:\/\/www.mfylegal.av.tr\/wp-content\/uploads\/2025\/09\/limited-partnership-turkey-structure-1024x683.jpg",1024,683,true],"author_info":{"display_name":"MFY Legal","author_link":"https:\/\/www.mfylegal.av.tr\/en\/author\/mfylegal\/"},"comment_info":"","_links":{"self":[{"href":"https:\/\/www.mfylegal.av.tr\/en\/wp-json\/wp\/v2\/makaleler\/8851","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.mfylegal.av.tr\/en\/wp-json\/wp\/v2\/makaleler"}],"about":[{"href":"https:\/\/www.mfylegal.av.tr\/en\/wp-json\/wp\/v2\/types\/makaleler"}],"author":[{"embeddable":true,"href":"https:\/\/www.mfylegal.av.tr\/en\/wp-json\/wp\/v2\/users\/2"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.mfylegal.av.tr\/en\/wp-json\/wp\/v2\/media\/8852"}],"wp:attachment":[{"href":"https:\/\/www.mfylegal.av.tr\/en\/wp-json\/wp\/v2\/media?parent=8851"}],"wp:term":[{"taxonomy":"custom-post-tag","embeddable":true,"href":"https:\/\/www.mfylegal.av.tr\/en\/wp-json\/wp\/v2\/custom-post-tag?post=8851"},{"taxonomy":"practice-area","embeddable":true,"href":"https:\/\/www.mfylegal.av.tr\/en\/wp-json\/wp\/v2\/practice-area?post=8851"},{"taxonomy":"published-year","embeddable":true,"href":"https:\/\/www.mfylegal.av.tr\/en\/wp-json\/wp\/v2\/published-year?post=8851"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}