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ARTICLE · 05 SEPTEMBER 2024

Amendments To The Turkish Commercial Code

Ergun Avukatlik Burosu
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On May 29, 2024, a number of amendments were made to the Turkish Commercial Code ("TCC") by the "Law Amending the Turkish Commercial Code and Certain Laws" numbered 7511 ("Amending Law"). Main features...

TurkeyCorporate/Commercial Law
Lara Sezerler
Lara Sezerler

On May 29, 2024, a number of amendments were made to the Turkish Commercial Code ("TCC") by the "Law Amending the Turkish Commercial Code and Certain Laws" numbered 7511 ("Amending Law"). Main features of the Amending Law are as follows:

  • Minimum Share Capital Requirement

The minimum requirements for share capital were increased on November 25, 2023, (i) from 50,000 TL to 250,000 TL for joint-stock companies, (ii) from 100,000 TL to 500,000 TL for non-public joint-stock companies that have adopted the registered capital system, and (iii) from 10,000 TL to 50,000 TL for limited liability companies. As per the new Provisional Article 15, both the joint-stock companies and the limited liability companies established before such rule and whose share capital is below the minimum required amounts are now under an obligation to increase their share capital to the amounts provided above by December 31, 2026. Any failure to increase their share capital to the

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