A Legal Effect of European Union's Business Law Policy: Single Member Companies in Turkish Law

Salih Tayfun ?nce ()
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Salih Tayfun ?nce: Istanbul Fatih Sultan Mehmet Vakif University Faculty of Law

No 6208184, Proceedings of Law and Political Sciences Conferences from International Institute of Social and Economic Sciences

Abstract: The concept of single-member company has been studied in the doctrine by lawyers and economists for more than hundred years. Single-member companies have become widespread by virtue of the European Union?s legal instructions and mostly subsequent acceleration of states? legislation efforts in order to allow foundation of single-member companies pursuant to their national laws. The dangers which single-member companies may generate are matters of discussion as well as the possible benefits of single-member companies to the national and international markets. Authorization of a single-member company foundation is one of the most important changes that were brought by Turkish Commercial Code with its entry into force in 1 July 2012. It is understandable from analysis of company foundation statistics provided by official authorities that incorporation of a company by a single member is widely embraced by market players. Presently, the European Union labours with a directive proposal which aims formation of new and more practical single-member company type. The outcome of these economic policy borne legal efforts will have significant effects on Turkey as a current member of the European Customs Union and a candidate country for the European Union, and foreign investors who plan to invest in Turkey.

Keywords: Single-member Company; One-man Company; Limited Liability Company; Joint Stock Company; Turkish Business Law; European Union Business Law; Commercial Law; Company Law. (search for similar items in EconPapers)
JEL-codes: K20 K22 M20 (search for similar items in EconPapers)
Pages: 12 pages
Date: 2017-10
New Economics Papers: this item is included in nep-ara and nep-law
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Published in Proceedings of the Proceedings of the Law & Political Science Conference, Vienna, Oct 2017, pages 17-28

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