In the light of the above, the essential requirements for a joint stock company can be listed as follows:

• establishment with a separate legal personality,
• for any economic purpose,
• with a trade name,
• under a written Articles of Association,
• whose capital is certain and divided into shares,
• by at least one or more individual or legal entity partner(s),
• with a liability limited with the subscribed capital,
• whose liability is not limited towards thecreditors of the Company and
• at least one partner whose liability islimited with certain amount of capital
• capital cannot belessthan 50.000TL and 100.000TL in joint stock corporations
where shares are traded publicly (wherethe minimum capital requirement can
be increased by the Ministry of Customs and Industry