In accordance with the Decision of the Presidency dated 24/11/2023 and numbered 7887 published in the Official Gazette numbered 32380 dated 25/11/2023 (‘Decision’), it has been decided to increase the minimum capital limit for Joint Stock Companies, Limited Liability Companies, and non-public Joint Stock Companies that have accepted the registered capital system, effective from January 1, 2024.
With this decision, as of January 1, 2024, the minimum capital limit specified for Joint Stock Companies subject to Article 332 of the Turkish Commercial Code dated 13/01/2011 and numbered 6102 has been increased from 50,000 Turkish Liras to 250,000 Turkish Liras. For non-public Joint Stock Companies that have accepted the registered capital system, the minimum capital limit has been increased from 100,000 Turkish Liras to 500,000 Turkish Liras. Additionally, for Limited Liability Companies envisaged in Article 580 of the same Law, the minimum capital limit has been increased from 10,000 Turkish Liras to 50,000 Turkish Liras.
It is important to note that the Decision published on 25/11/2023 will come into effect on January 1, 2024, and this Decision will be considered for the new establishments of Joint Stock and Limited Liability Companies from that date onwards.
Moreover, regarding the changes made, there is currently no obligation for capital increase for existing companies with capital below the specified amounts. However, the Ministry of Commerce has announced on 26/11/2023 that it would be beneficial for existing companies to increase their capital to at least the mentioned amounts to strengthen their equity structures.
Please find the relevant Decisions through the following links:
https://www.resmigazete.gov.tr/eskiler/2023/11/20231125-23.pdf
https://www.resmigazete.gov.tr/eskiler/2023/11/20231126-5.htm (Correction of Effective Date)
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