TURKIYE: MINIMUM CAPITAL AMOUNTS FOR NEWLY ESTABLISHED JOINT STOCK AND LIMITED LIABILITY COMPANIES INCREASED

Effective from January 1, 2024, the minimum capital amounts stipulated in the Turkish Commercial Code for joint stock and limited liability companies have been increased as follows:

- From TRY 50,000 to TRY 250,000 for joint stock companies

- From 10,000 TRY to 50,000 TRY for limited liability companies

For non-public joint stock companies that accept the registered capital system, the initial capital shall not be less than TRY 500,000.

According to the announcement made by the Ministry of Trade dated November 27, 2023, these amounts will be applied to new joint stock and limited liability companies to be established as of January 1, 2024, and for existing companies with capital below the mentioned amounts, there is no obligation to increase their capital at this stage, but it is recommended that they increase their capital to at least the mentioned amounts to strengthen their equity structure.