In accordance with the presidential decision, which was published on 25 November 2023, and the rectification letter, which was published on 26 November 2023, minimum share capital requirements of joint-stock corporations and limited liability partnerships have been amended. Accordingly;
- Minimum share capital amount of joint stock companies has been increased to 250,000 TRY (approximately EUR 8,000) from 50,000 (approximately EUR 1,600);
- Minimum share capital amount of non-public joint stock companies, which adopt the registered capital system, has been increased to 500,000 TRY (approximately EUR 16,000) from 100,000 (approximately EUR 3,200);
- Minimum share capital amount of limited liability partnerships has been increased to 50,000 TRY (approximately EUR 1,600) from 10,000 (approximately EUR 320).
New minimum share capital requirements will be effective as of 1 January 2024.
The presidential decree does not set forth any further clarification whether these new capital amount requirements will be applicable for the companies, which have been incorporated before 1 January 2024. However, the Ministry of Trade's announcement set forth that, for now, the new share capital requirements will be applicable only for companies which will be established as of 1 January 2024.
© Kolcuoğlu Demirkan Koçaklı Attorneys at Law 2020
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