Deadline for Compliance with Minimum Capital Requirements Extended

The minimum capital requirements for joint stock and limited liability companies were increased by the regulation that entered into force on January 1, 2024. Accordingly, pursuant to Provisional Article 15 of the Turkish Commercial Code (Law No. 6102) (the "TCC"), companies whose capital fell below the new minimum amounts were required to increase their capital within the prescribed period.

The deadline for fulfilling these capital increase obligations, initially set as December 31, 2026, has been extended to December 31, 2027 by the Communiqué on the Extension of the Period for Joint Stock and Limited Liability Companies to Increase Their Capital to the New Minimum Amounts (the "Communiqué"), published in the Official Gazette dated October 17, 2026, and numbered 33403.

Accordingly, the deadline for joint stock companies with capital below TRY 250,000 and limited liability companies with capital below TRY 50,000 to increase their capital to these amounts, and for non-public joint stock companies that have adopted the registered capital system to increase their initial and issued capital to TRY 500,000, has been extended to December 31, 2027.

Joint stock companies and limited liability companies failing to fulfill their capital

increase obligations within the prescribed period will be deemed dissolved, while nonpublic joint stock companies that have adopted the registered capital system will be deemed to have exited this system if they fail to carry out the required capital increase.

Pursuant to Provisional Article 15 of the TCC, the Ministry of Trade is authorized to extend this period up to twice, for one year each, and has exercised this authority for the first time through the Communiqué.