Reduction of Share Capital

Limited Company: To decrease capital, a resolution from the partners’ meeting is required. This resolution is recorded in the decision book and notarized. The capital decrease is carried out by fulfilling the necessary legal requirements and registered with the trade registry office. Following the registration, an announcement is made in the Turkish Trade Registry Gazette. The change must also be reported to the relevant tax office, and a copy of the decision and the registration certificate is submitted.

Joint-Stock Company: For joint-stock companies, a general assembly resolution is required to decrease capital. The resolution is notarized, and the capital decrease is carried out by fulfilling the necessary legal requirements. The transaction is registered with the trade registry office, followed by an announcement in the Turkish Trade Registry Gazette. The change must also be reported to the relevant tax office, and a copy of the decision and the registration certificate is submitted.

If foreign individuals or legal entities wish to decrease capital, a power of attorney or representation document obtained from their country is required. These documents must be notarized for use in Turkey. Additional documents may be required during the capital decrease process.