{"id":8873,"date":"2025-09-15T01:17:57","date_gmt":"2025-09-14T22:17:57","guid":{"rendered":"https:\/\/gnbtqytp2s.onrocket.site\/?post_type=makaleler&#038;p=8873"},"modified":"2025-09-15T01:18:01","modified_gmt":"2025-09-14T22:18:01","slug":"liquidation-of-company-in-turkey","status":"publish","type":"makaleler","link":"https:\/\/www.mfylegal.av.tr\/en\/articles\/liquidation-of-company-in-turkey\/","title":{"rendered":"Liquidation of a Company in Turkey | Process &amp; Legal Requirements"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\"><strong>What is Company Liquidation?<\/strong><\/h2>\n\n\n\n<p>Liquidation is the <strong>legal process of closing a company<\/strong> in Turkey, involving the settlement of debts, collection of receivables, sale of assets, and final distribution of remaining value to shareholders.<\/p>\n\n\n\n<p>A company may be liquidated voluntarily by its shareholders or compulsorily (e.g., through bankruptcy).<\/p>\n\n\n\n<p>During liquidation, the company continues to exist as a legal entity but adds the phrase <strong>\u201cin liquidation\u201d<\/strong> to its trade name.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Legal Grounds for Liquidation<\/strong><\/h2>\n\n\n\n<p>A company may enter liquidation if:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>A <strong>shareholder resolution<\/strong> is passed,<\/li>\n\n\n\n<li>A legal ground for termination under the <strong>Turkish Commercial Code (TCC)<\/strong> arises,<\/li>\n\n\n\n<li>The company is <strong>bankrupt<\/strong>.<\/li>\n<\/ul>\n\n\n\n<p>Related reading: <a href=\"\/en?p=8870\" target=\"_blank\" rel=\"noreferrer noopener\">Share Transfer in Turkish Companies<\/a>.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Liquidation Officers<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>At least <strong>one liquidation officer<\/strong> must be appointed.<\/li>\n\n\n\n<li>They may be named in the articles of association, elected by the General Assembly, or otherwise the <strong>Board of Directors<\/strong> assumes the role.<\/li>\n\n\n\n<li><strong>Eligibility:<\/strong> At least one liquidation officer must be a <strong>Turkish citizen and resident<\/strong>.<\/li>\n\n\n\n<li>Officers must be registered and announced in the <strong>Trade Registry Gazette<\/strong>.<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Step-by-Step Liquidation Process<\/strong><\/h2>\n\n\n\n<ol start=\"1\" class=\"wp-block-list\">\n<li><strong>Decision &amp; Registration<\/strong>\n<ul class=\"wp-block-list\">\n<li>Shareholder resolution or court order is registered with the Trade Registry.<\/li>\n\n\n\n<li>Company name is updated to include <strong>\u201cin liquidation\u201d<\/strong>.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>Notification to Creditors<\/strong>\n<ul class=\"wp-block-list\">\n<li>Known creditors are contacted by registered mail.<\/li>\n\n\n\n<li>Unknown creditors are notified via <strong>three announcements<\/strong> in the Turkish Trade Registry Gazette (every two weeks).<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>Settlement of Obligations<\/strong>\n<ul class=\"wp-block-list\">\n<li>Collect receivables, sell company assets, and pay debts.<\/li>\n\n\n\n<li>Prepare annual financial statements and liquidation balance sheets.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>Distribution of Assets<\/strong>\n<ul class=\"wp-block-list\">\n<li>After debts are paid, remaining assets are distributed to shareholders <strong>in proportion to their paid-in capital and privileges<\/strong>.<\/li>\n\n\n\n<li>Distribution cannot occur until <strong>six months after the final creditor announcement<\/strong>.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>Closure &amp; Deregistration<\/strong>\n<ul class=\"wp-block-list\">\n<li>Once liquidation ends, officers apply to delete the company from the trade registry.<\/li>\n\n\n\n<li>The company ceases to exist as a legal entity.<\/li>\n<\/ul>\n<\/li>\n<\/ol>\n\n\n\n<p>See also: <a href=\"\/en?p=8857\" target=\"_blank\" rel=\"noreferrer noopener\">Steps to Establish a Company in Turkey<\/a>.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Bankruptcy Liquidation<\/strong><\/h2>\n\n\n\n<p>In case of bankruptcy, liquidation is carried out by the <strong>bankruptcy administration<\/strong> in accordance with the <strong>Enforcement and Bankruptcy Law<\/strong>.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Foreign Investor Considerations<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Liquidation may trigger <strong>tax audits<\/strong> and require clearance from the <strong>Tax Office<\/strong> and <strong>Social Security Institution<\/strong>.<\/li>\n\n\n\n<li>Cross-border companies must also consider <strong>foreign reporting obligations<\/strong>.<\/li>\n\n\n\n<li>Proper legal guidance ensures faster deregistration and protection against unexpected claims.<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Key Takeaways<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>A company remains legally active during liquidation until final deregistration.<\/li>\n\n\n\n<li>Creditors must be notified both directly and via registry announcements.<\/li>\n\n\n\n<li>Asset distribution is delayed until at least six months after the last creditor notice.<\/li>\n\n\n\n<li>Liquidation officers play a crucial role and must be registered.<\/li>\n<\/ul>\n\n\n\n<p>More about governance during liquidation: <a href=\"\/en?p=8867\" target=\"_blank\" rel=\"noreferrer noopener\">Company Audit in Turkey<\/a>.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Professional Legal Guidance<\/strong><\/h2>\n\n\n\n<p>MFY Legal provides end-to-end assistance in liquidation \u2014 from preparing shareholder resolutions to creditor notifications, asset settlement, and final deregistration.<\/p>\n\n\n\n<p>Contact us today for legal guidance on liquidating your company in Turkey.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>What is Company Liquidation? Liquidation is the legal process of closing a company in Turkey, involving the settlement of debts, collection of receivables, sale of assets, and final distribution of remaining value to shareholders. A company may be liquidated voluntarily by its shareholders or compulsorily (e.g., through bankruptcy). During liquidation, the company continues to exist&#8230;<\/p>\n","protected":false},"author":2,"featured_media":8874,"parent":0,"template":"","meta":{"_acf_changed":true,"inline_featured_image":false,"_kad_blocks_custom_css":"","_kad_blocks_head_custom_js":"","_kad_blocks_body_custom_js":"","_kad_blocks_footer_custom_js":"","_kad_post_transparent":"","_kad_post_title":"","_kad_post_layout":"","_kad_post_sidebar_id":"","_kad_post_content_style":"","_kad_post_vertical_padding":"","_kad_post_feature":"","_kad_post_feature_position":"","_kad_post_header":false,"_kad_post_footer":false,"_kad_post_classname":""},"custom-post-tag":[143],"practice-area":[160,161],"published-year":[157],"class_list":["post-8873","makaleler","type-makaleler","status-publish","has-post-thumbnail","hentry","custom-post-tag-articles","practice-area-commercial-law","practice-area-company-law","published-year-2025-en"],"acf":[],"taxonomy_info":{"custom-post-tag":[{"value":143,"label":"Articles"}],"practice-area":[{"value":160,"label":"Commercial Law"},{"value":161,"label":"Company Law"}],"published-year":[{"value":157,"label":"2025"}]},"featured_image_src_large":["https:\/\/www.mfylegal.av.tr\/wp-content\/uploads\/2025\/09\/company-liquidation-process-turkey-1024x683.jpg",1024,683,true],"author_info":{"display_name":"MFY Legal","author_link":"https:\/\/www.mfylegal.av.tr\/en\/author\/mfylegal\/"},"comment_info":"","_links":{"self":[{"href":"https:\/\/www.mfylegal.av.tr\/en\/wp-json\/wp\/v2\/makaleler\/8873","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.mfylegal.av.tr\/en\/wp-json\/wp\/v2\/makaleler"}],"about":[{"href":"https:\/\/www.mfylegal.av.tr\/en\/wp-json\/wp\/v2\/types\/makaleler"}],"author":[{"embeddable":true,"href":"https:\/\/www.mfylegal.av.tr\/en\/wp-json\/wp\/v2\/users\/2"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.mfylegal.av.tr\/en\/wp-json\/wp\/v2\/media\/8874"}],"wp:attachment":[{"href":"https:\/\/www.mfylegal.av.tr\/en\/wp-json\/wp\/v2\/media?parent=8873"}],"wp:term":[{"taxonomy":"custom-post-tag","embeddable":true,"href":"https:\/\/www.mfylegal.av.tr\/en\/wp-json\/wp\/v2\/custom-post-tag?post=8873"},{"taxonomy":"practice-area","embeddable":true,"href":"https:\/\/www.mfylegal.av.tr\/en\/wp-json\/wp\/v2\/practice-area?post=8873"},{"taxonomy":"published-year","embeddable":true,"href":"https:\/\/www.mfylegal.av.tr\/en\/wp-json\/wp\/v2\/published-year?post=8873"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}