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

Author

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  • Salih Tayfun ?nce

    (Istanbul Fatih Sultan Mehmet Vakif University Faculty of Law)

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.

Suggested Citation

  • Salih Tayfun ?nce, 2017. "A Legal Effect of European Union's Business Law Policy: Single Member Companies in Turkish Law," Proceedings of Law and Political Sciences Conferences 6208184, International Institute of Social and Economic Sciences.
    • Handle: RePEc:sek:ilppro:6208184
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    File URL: https://iises.net/proceedings/law-political-science-conference-vienna/table-of-content/detail?cid=62&iid=003&rid=8184
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    More about this item

    Keywords

    Single-member Company; One-man Company; Limited Liability Company; Joint Stock Company; Turkish Business Law; European Union Business Law; Commercial Law; Company Law.;
    All these keywords.

    JEL classification:

    • K20 - Law and Economics - - Regulation and Business Law - - - General
    • K22 - Law and Economics - - Regulation and Business Law - - - Business and Securities Law
    • M20 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - General

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