Nominee Director in Turkey
Our lawyers can help you find a nominee director in Turkey, who can assist with the management of your company when you are not in the country. A nominee director can handle tasks that are required by law, such as paying taxes, going to banks, and signing contracts, on your behalf. Under Turkish law , legal entities can take an action on behalf of a company as well. In this sense, as a law office we can assist you to find such type of management companies which will run your company as a nominee director. In the establishment of the company process, we can help you to arrange for director nomination in case that you will recieve services from such companies.
If you appoint a nominee shareholder, they will appear to be the owner of your company’s shares, while you retain all of the rights and benefits of the shares, such as the ability to sell the shares, receive dividends, and vote at general meetings. Nominee directors and shareholders are often chosen from the entrepreneur’s family or trusted friends.
There are several legitimate reasons to use a nominee director arrangement, such as maintaining confidentiality about your ownership of a company and complying with the requirement that at least one director be a locally-resident person. For example, if your business is expanding into a new market and you want to keep your involvement a secret from potential customers, suppliers, or distributors, a nominee arrangement may be helpful.
However, it is important to be cautious when using a nominee director arrangement, as there are risks involved. These risks can include a breakdown in the relationship with the nominee, the nominee demanding more payment or treating the shares as a gift, the nominee passing away or losing mental capacity, the nominee becoming uncontactable, the nominee taking actions contrary to your wishes or intentions, or the nominee disclosing the arrangement to others. To minimize these risks, it is recommended to nominate a company as a director which is possible under Turkish Law. Nomination of a director as a legal entity will reduce the risks related to a human. In addition there will be no need to pay insurance premium.