🇹🇷 Legislation29 May 2024
Türkiye gives existing companies until end-2026 to meet higher minimum capital
Türkiye's Law no. 7511, published on 29 May 2024, amends the Turkish Commercial Code. Companies set up before 1 January 2024 must raise their capital to the new minimums, TRY 250,000 for a joint stock company and TRY 50,000 for a limited company, by 31 December 2026 or be dissolved. The law also lets the board chair and vice-chair serve for the board's full term.
Presidential Decree no. 7887 raised the minimum capital of Turkish companies from 1 January 2024. Law no. 7511, published in the Official Gazette on 29 May 2024, added a transitional rule for companies that already existed.
What changed
- Minimum capital: TRY 250,000 for a joint stock company (up from TRY 50,000), TRY 50,000 for a limited company (up from TRY 10,000), and TRY 500,000 for a non-public joint stock company in the registered capital system (up from TRY 100,000).
- Deadline for existing companies: companies formed before 1 January 2024 must comply by 31 December 2026. Those that don't are dissolved. A registered-capital company below TRY 500,000 leaves that system, and is dissolved if below TRY 250,000.
- Board chair: the chair and vice-chair can be elected for the board's term (up to three years) instead of every year.
- Board meetings: if the chair doesn't call a meeting that a majority of members request in writing, the members can convene it themselves.
- Branch managers: appointing and dismissing them is no longer a non-delegable board power.
What to do
Check capital against the new minimums and plan any capital increase before 31 December 2026, allowing for trade registry backlogs near the deadline.