Period to increase minimum share capital of joint-stock and limited liability companies extended

Pursuant to the Communiqué on the Extension of the Period for Increasing the Share Capital of Joint-Stock and Limited Liability Companies to the New Minimum Amounts (“Communiqué”), published in the Official Gazette dated 17 October 2026 and numbered 33403 by the Ministry of Trade (“Ministry”), the period for joint-stock and limited liability companies, and for unlisted joint-stock companies operating under the registered capital system, whose capital is below the amounts set out in Articles 332 and 580 of the Turkish Commercial Code No. 6102 (“TCC”), to increase their initial and issued capital to the new minimum amounts has been extended to 31 December 2027. This amendment entered into force on 17 October 2026.

Pursuant to the amendment made to the TCC pursuant to Law No. 7511 on the Amendment of the Turkish Commercial Code and Certain Other Laws, the minimum capital amounts applicable to joint-stock and limited liability companies, as well as to unlisted joint-stock companies operating under the registered capital system, were set at (i) TRY 250,000 for joint-stock companies; (ii) TRY 50,000 for limited liability companies; and (iii) TRY 500,000 for unlisted joint-stock companies operating under the registered capital system.

Under the Communiqué, the period stipulated for fulfilling the obligations relating to the minimum share capital amounts, previously due to expire on 31 December 2026, has been extended to 31 December 2027. Joint-stock and limited liability companies that fail to increase their share capital to the minimum amounts within the stipulated period will be deemed dissolved. Unlisted joint-stock companies that have adopted the registered capital system and whose issued capital is at least TRY 250,000 will be deemed to have withdrawn from the registered capital system if they fail to increase both their initial and issued capital to TRY 500,000 within the same period.

Pursuant to the TCC, the Ministry may extend the stipulated period twice at most, by one year each time. The extension granted under this Communiqué is the first instance in which the Ministry has exercised this authority.