{"id":1226,"date":"2025-04-29T11:12:32","date_gmt":"2025-04-29T08:12:32","guid":{"rendered":"https:\/\/mileniabusiness.com\/?p=1226"},"modified":"2025-08-05T16:45:35","modified_gmt":"2025-08-05T13:45:35","slug":"likvidacija-kompanii-v-turcii-jetapy-i-njuansy","status":"publish","type":"post","link":"https:\/\/mileniabusiness.com\/en\/likvidacija-kompanii-v-turcii-jetapy-i-njuansy\/","title":{"rendered":"Liquidation of a company in TURKEY: stages and nuances in 2025"},"content":{"rendered":"<p>The realities of the market are such that it is necessary to share with you the main stages and nuances of company liquidation in Turkey.<\/p>\n\n\n\n<p class=\"has-medium-font-size\"><br><strong>1. Decision on liquidation<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Conducting <strong>general meeting of shareholders<\/strong> or members (for LLCs).<\/li>\n\n\n\n<li>Decision-making on <strong>voluntary liquidation<\/strong>.<\/li>\n\n\n\n<li>Assignment <strong>liquidator<\/strong> (may be the owner or a third party).<\/li>\n<\/ul>\n\n\n\n<p><strong>Documents:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Minutes of the general meeting (resolution on liquidation and appointment of a liquidator).&nbsp;<\/li>\n\n\n\n<li>Notarized copies of the minutes<\/li>\n\n\n\n<li>Updated list of shareholders\/participants<\/li>\n<\/ul>\n\n\n\n<p class=\"has-medium-font-size\"><strong>2. Registration of the liquidation process<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Filing a resolution on liquidation with the <strong>Chamber of Commerce<\/strong> (Ticaret Odas\u0131).<\/li>\n\n\n\n<li>Publication of the notice of commencement of liquidation in <strong>Trade Gazette<\/strong> (T\u00fcrkiye Ticaret Sicil Gazetesi).<\/li>\n<\/ul>\n\n\n\n<p>From the date of publication, the liquidation period begins.<\/p>\n\n\n\n<p><strong>Documents:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Copy of the decision on liquidation<\/li>\n\n\n\n<li>Publication and registration fees<\/li>\n<\/ul>\n\n\n\n<p class=\"has-medium-font-size\"><strong>3. Notification of tax authorities and funds<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Notification <strong>tax office<\/strong> (Vergi Dairesi).<\/li>\n\n\n\n<li>Notification <strong>social funds<\/strong> (e.g. SGK - contributions to insurance funds).<\/li>\n\n\n\n<li>Transfer of books of accounts for audit (if required).<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>4. Settlement of liabilities<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Collecting debts and settling with creditors.<\/li>\n\n\n\n<li>Repayment of all taxes, fees, insurance premiums.<\/li>\n\n\n\n<li>The sale or distribution of the remaining estate.<\/li>\n<\/ul>\n\n\n\n<p>It may be necessary to publish a notice of settlement of creditors.<\/p>\n\n\n\n<p><strong>Documents:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Act of reconciliation with the tax authorities<\/li>\n\n\n\n<li>Receipts for payment of debts and taxes<\/li>\n\n\n\n<li>Statement of settlements with creditors<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>5. Final reporting<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Preparation <strong>liquidation balance sheet<\/strong>.<\/li>\n\n\n\n<li>Conducting an audit (mandatory for some types of companies).<\/li>\n\n\n\n<li>Preparation of final tax returns.<\/li>\n<\/ul>\n\n\n\n<p><strong>Documents:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Liquidation balance<\/li>\n\n\n\n<li>Final tax report<\/li>\n\n\n\n<li>Auditor's report (if required)<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>6. Completion of liquidation<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>It reconvenes <strong>general meeting<\/strong> for approval of the final documents.<\/li>\n\n\n\n<li>Submitting an application to <strong>Chamber of Commerce<\/strong> on the completion of the liquidation.<\/li>\n\n\n\n<li>Publication of the notice of completion of liquidation in the <strong>Trade Gazette<\/strong>.<\/li>\n<\/ul>\n\n\n\n<p><strong>Documents:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Final minutes of the general meeting<\/li>\n\n\n\n<li>Statement on completion of liquidation<\/li>\n\n\n\n<li>Copy of the publication on completion<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>7. Archiving of documents<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>All accounting and legal documents must be kept to a minimum of <strong>10 years<\/strong> after liquidation from the owner of the company.<\/li>\n<\/ul>\n\n\n\n<p class=\"has-medium-font-size\"><strong>Key Points:<\/strong><\/p>\n\n\n\n<p>The assistance of an accountant will be required (<strong>muhasebeci<\/strong>) or an attorney.<\/p>\n\n\n\n<p><strong>Minimum liquidation period<\/strong> - about <strong>6 months<\/strong> (due to mandatory publications and deadlines for creditors to file claims).<\/p>\n\n\n\n<p>In case of debts, disputes with the tax office or creditors, the procedure may be delayed.<\/p>\n\n\n\n<h1 class=\"wp-block-heading\"><strong>Indicative timeframe by phase<\/strong><\/h1>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong>Stage<\/strong><\/td><td><strong>Timeline<\/strong><\/td><\/tr><tr><td>Decision on liquidation<\/td><td>1-2 days<\/td><\/tr><tr><td>Registration with the Chamber of Commerce and publication<\/td><td>7-15 days<\/td><\/tr><tr><td>Waiting period for claims from creditors<\/td><td>minimum of 3 months<\/td><\/tr><tr><td>Debt settlement and closure of accounts<\/td><td>1-3 months<\/td><\/tr><tr><td>Completion of liquidation and publication<\/td><td>1-2 weeks<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"has-medium-font-size\"><strong>LIQUIDATION OF A COMPANY IN TURKEY WITH FOREIGN OWNERS: MAIN DIFFERENCES<\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\">1. <strong>The liquidation procedure is the same<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>All legal entities in Turkey (with Turkish or foreign owners) are liquidated by <strong>uniform procedure<\/strong>provided for <strong>Turkish Commercial Code<\/strong> (T\u00fcrk Ticaret Kanunu).<\/li>\n\n\n\n<li><strong>Key steps<\/strong> (decision - registration - publication - calculation - finalization) are identical.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>2. differences in the execution of documents<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>A liquidation resolution signed by the foreign participant, <strong>must be notarized and apostilled<\/strong> in his country of residence.<\/li>\n\n\n\n<li>The document is then translated into Turkish through the <strong>sworn translator<\/strong> and certified <strong>Turkish notary<\/strong>.<\/li>\n<\/ul>\n\n\n\n<p><strong>Important:<\/strong><strong><br><\/strong>If the foreign owner is in Turkey, he can sign the documents directly with a Turkish notary - then no apostille is needed.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>(3) Peculiarities of authority<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Foreign owner <strong>must appoint an authorized representative<\/strong> in Turkey (if not planning to personally participate in the process).<\/li>\n\n\n\n<li>It is required to execute a power of attorney (<strong>vekaletname<\/strong>) on the liquidator or attorney:\n<ul class=\"wp-block-list\">\n<li>Notarization + apostille (if issued abroad)<\/li>\n\n\n\n<li>Turkish translation and notarization in Turkey<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>4. Banking operations<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Bank accounts must be closed when the liquidation is completed.<\/li>\n\n\n\n<li>Foreign owners must:\n<ul class=\"wp-block-list\">\n<li>Present in person at the bank <strong>or<\/strong><\/li>\n\n\n\n<li>Draw up a power of attorney for an authorized representative to close accounts.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>5. Additional currency control checks<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Sometimes the tax authorities may additionally request foreign direct investment documents, especially if the authorized capital was contributed in foreign currency.<\/li>\n\n\n\n<li>It is required to confirm that there are no violations of Turkey's foreign exchange laws.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>6. Liquidation time<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Liquidation of a company with foreign owners <strong>might take a little longer<\/strong> (by approx. <strong>1-2 months longer<\/strong>), because of:\n<ul class=\"wp-block-list\">\n<li>getting apostilles,<\/li>\n\n\n\n<li>of translating documents,<\/li>\n\n\n\n<li>possible coordination between countries.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<p class=\"has-medium-font-size\"><strong>Briefly:<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td><strong>item<\/strong><\/td><td><strong>Turkish owners<\/strong><\/td><td><strong>Foreign owners<\/strong><\/td><\/tr><tr><td>Finalization of decisions<\/td><td>Turkish notary<\/td><td>Notary abroad + apostille + translation<\/td><\/tr><tr><td>Power of attorney<\/td><td>Simple<\/td><td>With apostille and translation<\/td><\/tr><tr><td>Tax audits<\/td><td>Standard<\/td><td>Possible additional inquiries on currency transactions<\/td><\/tr><tr><td>Liquidation time<\/td><td>~6 months<\/td><td>~7-8 months<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"has-medium-font-size\"><strong>Indicative costs of liquidation of the company in Turkey (2025)<\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">1. <strong>State and compulsory levies<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Notary services<\/strong>: certification of general meeting resolutions, powers of attorney and other documents.<\/li>\n\n\n\n<li><strong>Publication in the Trade Register Gazette (T\u00fcrkiye Ticaret Sicil Gazetesi)<\/strong>: mandatory announcements of the commencement and completion of liquidation.<\/li>\n\n\n\n<li><strong>Registration fees at the Chamber of Commerce<\/strong>: amendment of the register.<\/li>\n\n\n\n<li><strong>Tax reporting and audits<\/strong>: possible costs of preparing and filing final tax returns and undergoing tax audits.<\/li>\n<\/ul>\n\n\n\n<p><em>The total amount of these costs may range from <\/em><strong><em>\u20ac500 to \u20ac1,500<\/em><\/strong><em>depending on the specific circumstances of the company.<\/em>\u200b<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>2. Liquidation support services<\/strong><\/h3>\n\n\n\n<p>Many companies turn to professional advisors to guide them through the liquidation process. The following are indicative fees.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>A company with minimal activity<\/strong>:<br>\n<ul class=\"wp-block-list\">\n<li><strong>One-off payment<\/strong>: from. <strong>\u20ac999<\/strong><\/li>\n\n\n\n<li><strong>Monthly payment<\/strong>: from. <strong>\u20ac199\/month<\/strong>\u200b<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Company with active operations<\/strong>:<br>\n<ul class=\"wp-block-list\">\n<li><strong>One-off payment<\/strong>: from. <strong>\u20ac2,499<\/strong><\/li>\n\n\n\n<li><strong>Monthly payment<\/strong>: from. <strong>\u20ac499\/month<\/strong>\u200b<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>A company with high activity and significant turnover<\/strong>:<br>\n<ul class=\"wp-block-list\">\n<li><strong>One-off payment<\/strong>: from. <strong>\u20ac4,999<\/strong><\/li>\n\n\n\n<li><strong>Monthly payment<\/strong>: from. <strong>\u20ac999\/month<\/strong>\u200b<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<p><em>Additionally, the services of a professional liquidator can cost approx. <\/em><strong><em>\u20ac499\/month<\/em><\/strong><em>.<\/em>\u200b<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>3. Additional costs<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Translation and certification of documents<\/strong>: if the company has foreign founders, translation and apostilization of documents may be required.<\/li>\n\n\n\n<li><strong>Audit services<\/strong>: for companies subject to statutory audit.<\/li>\n\n\n\n<li><strong>Legal advice<\/strong>: in case of complex legal issues or disputes.<\/li>\n<\/ul>\n\n\n\n<p class=\"has-medium-font-size\"><strong>Final evaluation<\/strong><\/p>\n\n\n\n<p>The total cost of liquidating a company in Turkey in 2025 could range from <strong>\u20ac1,500 to \u20ac6,000<\/strong> and more, depending on the specifics of the company and the scope of services required.<\/p>","protected":false},"excerpt":{"rendered":"<p>\u0420\u0435\u0430\u043b\u0438\u0438 \u0440\u044b\u043d\u043a\u0430 \u0442\u0430\u043a\u043e\u0432\u044b, \u0447\u0442\u043e \u043d\u0430\u0437\u0440\u0435\u043b\u0430 \u043d\u0435\u043e\u0431\u0445\u043e\u0434\u0438\u043c\u043e\u0441\u0442\u044c \u043f\u043e\u0434\u0435\u043b\u0438\u0442\u044c\u0441\u044f \u0441 \u0432\u0430\u043c\u0438 \u043e\u0441\u043d\u043e\u0432\u043d\u044b\u043c\u0438 \u044d\u0442\u0430\u043f\u0430\u043c\u0438 \u0438 \u043d\u044e\u0430\u043d\u0441\u0430\u043c\u0438 \u043b\u0438\u043a\u0432\u0438\u0434\u0430\u0446\u0438\u0438 \u043a\u043e\u043c\u043f\u0430\u043d\u0438\u0438 \u0432 \u0422\u0443\u0440\u0446\u0438\u0438. 1. \u0420\u0435\u0448\u0435\u043d\u0438\u0435 \u043e \u043b\u0438\u043a\u0432\u0438\u0434\u0430\u0446\u0438\u0438 \u0414\u043e\u043a\u0443\u043c\u0435\u043d\u0442\u044b: 2. \u0420\u0435\u0433\u0438\u0441\u0442\u0440\u0430\u0446\u0438\u044f \u043f\u0440\u043e\u0446\u0435\u0441\u0441\u0430 \u043b\u0438\u043a\u0432\u0438\u0434\u0430\u0446\u0438\u0438 \u0421 \u0434\u0430\u0442\u044b \u043f\u0443\u0431\u043b\u0438\u043a\u0430\u0446\u0438\u0438 \u043d\u0430\u0447\u0438\u043d\u0430\u0435\u0442\u0441\u044f [&hellip;]<\/p>","protected":false},"author":1,"featured_media":1534,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_seopress_robots_primary_cat":"14","_seopress_titles_title":"%%post_title%% %%sitetitle%% %%sep%%","_seopress_titles_desc":"%%post_excerpt%%","_seopress_robots_index":"","footnotes":""},"categories":[14],"tags":[],"class_list":["post-1226","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finansy-buh-uchet-i-nalogi"],"_links":{"self":[{"href":"https:\/\/mileniabusiness.com\/en\/wp-json\/wp\/v2\/posts\/1226","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mileniabusiness.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mileniabusiness.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mileniabusiness.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mileniabusiness.com\/en\/wp-json\/wp\/v2\/comments?post=1226"}],"version-history":[{"count":12,"href":"https:\/\/mileniabusiness.com\/en\/wp-json\/wp\/v2\/posts\/1226\/revisions"}],"predecessor-version":[{"id":1553,"href":"https:\/\/mileniabusiness.com\/en\/wp-json\/wp\/v2\/posts\/1226\/revisions\/1553"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mileniabusiness.com\/en\/wp-json\/wp\/v2\/media\/1534"}],"wp:attachment":[{"href":"https:\/\/mileniabusiness.com\/en\/wp-json\/wp\/v2\/media?parent=1226"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mileniabusiness.com\/en\/wp-json\/wp\/v2\/categories?post=1226"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mileniabusiness.com\/en\/wp-json\/wp\/v2\/tags?post=1226"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}