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ARTICLE · 26 JANUARY 2022

How To Change Company Type

ELIG Gürkaynak Attorneys-at-Law
ELIG Gürkaynak Attorneys-at-Law
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ELIG Gürkaynak Attorneys-at-Law

ELIG Gürkaynak Attorneys-at-Law

ELIG Gürkaynak Attorneys-at-Law is an eminent, independent Turkish law firm based in Istanbul. The...

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Companies, for various reasons such as tax benefits, liabilities and as may be required by authorities, may decide to change their legal types.

TurkeyCorporate/Commercial Law
  1. Introduction

Companies, for various reasons such as tax benefits, liabilities and as may be required by authorities, may decide to change their legal types. Turkish corporate law allows companies to change their types in accordance with Article 181 of the Turkish Commercial Code No. 6102 (the "TCC") which sets forth which company types are allowed to convert into another.

As per the relevant provisions, companies change their legal type without transferring or making any changes in assets while keeping the economic unity and continuity of shareholders shares and rights. In the same vein, the new entity shall take up the old entity's place. So, merely "the shell" of the company will be changed.

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The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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