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LLC JSC Rep. Office Branch
Company Setup Time 35 days 45 days 8 weeks 8 weeks
Bank Account Opening 15 days 15 days 15 days 15 days
Government Grants Available Yes Yes No No
Government Contracts Bidding Yes Yes No No
Limited Liability Yes Yes No No
Client Required to Travel No No No No
Inquiry Inquiry Inquiry Inquiry

Corporate Structure Explained

Limited Liability Company

  • This entity requires at least two shareholders, which may be individuals or corporate entities. Also the company has to appoint a director, who may not be resident in the country.
  • An LLC needs a minimum share capital of US$ 20,000 and is required to submit financial statements for annual audit.

Joint Stock Company

  • A JSC in Turkmenistan needs two shareholders and one director, who can be a non-residents. The minimum share capital must be 200 times the monthly minimum wage (US$ 33,600).
  • A JSC may be closed or a partnership may be opened with shares distributed among founders or shares offered to the public respectively. A JSC is generally preferred when our clients plans to make the shares available to the public.
  • It is mandatory for the JSC to submit annual audited financial statements

Branch Office

  • Clients can use branch offices to work in any business sector. The scope of their operations is defined by the parent company.
  • The Branch is not considered to be a separate legal entity from the parent company. The entity must be legally responsible for the operation of the branch.

Representative Office

  • This entity can conduct promotional activities on behalf of the parent company.
  • The representative office must appoint a resident manager. The scope of the representative office is defined by the parent company at the time of incorporation.

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