The minimum capital amount regulated in Article 332 and Article 580 of the Turkish Commercial Code dated 13.1.2011 and numbered 6102 (“TCC”) has been increased with the Presidential Decree dated 24.11.2023 and numbered 7887 promulgated in the Official Gazette dated 25.11.2023 and numbered 32380.
In the first paragraph of Article 332 of TCC, the minimum capital amount stipulated as TL 50,000 for joint stock companies has been increased to TL 250,000 and the minimum initial capital amount stipulated as TL 100,000 for non-public joint stock companies which have adopted the registered capital system has been increased to TL 500,000. In the first paragraph of Article 580 of TCC, the minimum capital amount stipulated as TL 10,000 for limited liability companies has been increased to TL 50,000.
The aforementioned decree shall enter into force on 01.01.2024.
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.