Closing a company in Turkey involves a formal legal process that requires coordination between commercial courts, tax offices, trade registries, and company stakeholders. The process can be voluntary or mandatory depending on solvency, shareholder intent, and legal structure. Istanbul Law Firm assists local and foreign-owned entities in navigating every step of company liquidation with full legal compliance. A lawyer in Turkey prepares the resolution, notification forms, and board approvals required for a lawful dissolution. Our Turkish lawyers also coordinate debt settlement, tax deregistration, and shareholder final distributions. An English speaking lawyer in Turkey ensures that every document is accurate and acceptable in bilingual business environments. As a closure-precision law firm in Istanbul, we provide more than advice—we execute.
1. Legal Procedure to Dissolve a Company in Turkey
The Turkish Commercial Code outlines a multi-stage process for dissolving companies, which includes shareholder resolution, official announcement, liquidation period, and deregistration. Istanbul Law Firm structures the process from the initial decision to the final court declaration. A lawyer in Turkey drafts dissolution resolutions, notarized board minutes, and liquidation notices to be published in the Turkish Trade Registry Gazette. Our Turkish lawyers notify the tax office, social security institution (SGK), and affiliated chambers of commerce. An English speaking lawyer in Turkey manages legal translation and coordination with foreign corporate HQs. Istanbul Law Firm ensures the company exits the system legally and completely. As a court-guided Turkish Law Firm, we minimize compliance risk at every step.
The liquidation process includes the appointment of a liquidator (tasfiye memuru), who represents the company during its winding-up phase. A lawyer in Turkey ensures that the liquidator is legally qualified and properly registered with the trade registry. Our Turkish lawyers assist the liquidator in collecting receivables, settling debts, and preparing the final balance sheet. An English speaking lawyer in Turkey provides ongoing support for bilingual reporting and signature circulars. Istanbul Law Firm turns liquidation into a structured business exit. As a liquidation-supervising law firm in Istanbul, we manage formality with clarity.
Shareholders must approve final financials and confirm that all company debts and tax liabilities are resolved before deregistration. A lawyer in Turkey prepares shareholder resolutions, debt clearance statements, and notary protocols. Our Turkish lawyers monitor the publication of the second and final announcements in the Trade Registry Gazette. An English speaking lawyer in Turkey consolidates all deregistration documents for internal and foreign filing purposes. See our article on corporate tax exit planning for foreign companies in Turkey. Istanbul Law Firm doesn’t just close businesses—we close them correctly. As a termination-documentation Turkish Law Firm, we exit without exposure.
2. Tax and Financial Implications of Liquidation
Company liquidation in Turkey triggers tax consequences that must be properly calculated and declared. Istanbul Law Firm supports accounting teams, CFOs, and tax consultants in managing end-of-operations obligations. A lawyer in Turkey reviews final ledgers, capital repayment history, and loss carryforwards. Our Turkish lawyers ensure that corporate income tax, VAT, and stamp tax filings are concluded with zero liability. An English speaking lawyer in Turkey ensures that the final fiscal report aligns with foreign investor requirements. Istanbul Law Firm makes liquidation fiscally complete. As a tax-harmonized law firm in Istanbul, we finalize every number legally.
Failure to file final declarations or to reconcile company accounts can result in fines, tax audits, or even criminal penalties for directors. A lawyer in Turkey prepares voluntary disclosure forms, late filing defenses, and tax settlement plans. Our Turkish lawyers also file requests for tax clearance certificates (vergi terk yazısı) confirming that no debt remains. An English speaking lawyer in Turkey delivers clear timelines and requirements to foreign shareholders and legal departments. Istanbul Law Firm turns closure risk into compliance peace of mind. As a tax-defense-active Turkish Law Firm, we protect directors from personal liability during liquidation.
Post-liquidation, the company is removed from the Trade Registry, but directors and shareholders may still be audited or contacted by tax or enforcement offices. A lawyer in Turkey provides legal support for post-closure inquiries or document requests. Our Turkish lawyers prepare file archives and ensure secure recordkeeping of liquidation-related approvals. An English speaking lawyer in Turkey bridges cross-border requests between Turkish authorities and international legal teams. Istanbul Law Firm delivers continuity after closure. As a record-preserving law firm in Istanbul, we support you even after your company no longer exists.
3. Shareholder Resolutions and Director Responsibilities in Liquidation
One of the most important aspects of company liquidation is securing shareholder approval for each legal phase. Istanbul Law Firm prepares notarized shareholder resolutions that authorize dissolution, appoint a liquidator, and approve the final balance sheet. A lawyer in Turkey ensures these resolutions comply with quorum rules, shareholding thresholds, and company articles. Our Turkish lawyers manage legal publication and submission to the Trade Registry. An English speaking lawyer in Turkey provides foreign owners with fully translated resolutions and execution timelines. Istanbul Law Firm makes corporate decision-making legally bulletproof. As a shareholder-resolution-drafting law firm in Istanbul, we preserve corporate authority through final acts.
Company directors remain legally responsible during liquidation, particularly regarding debt settlement, employee rights, and reporting duties. A lawyer in Turkey advises on director liability protections, including resignation filings and delegation of authority to the liquidator. Our Turkish lawyers prepare board minutes and resignation protocols that reduce exposure. An English speaking lawyer in Turkey ensures that risk assessments are shared with legal and financial teams abroad. Istanbul Law Firm defends directors as they close the corporate chapter. As a liability-containment Turkish Law Firm, we plan the legal exit personally and strategically.
Special care must be taken when minority shareholders or foreign stakeholders are involved. A lawyer in Turkey confirms voting alignment and waiver of preemptive rights where applicable. Our Turkish lawyers file additional disclosures if foreign beneficiaries are named in the final distribution. An English speaking lawyer in Turkey coordinates these steps with compliance officers and legal counsel abroad. Istanbul Law Firm doesn’t allow technical missteps to end in legal disputes. See also our article on resolving shareholder conflict during Turkish company liquidation. As a foreign-shareholder-aligned law firm in Istanbul, we preserve harmony while closing legally.
4. Liquidation of Branch Offices and Representative Offices
Branch and liaison offices of foreign companies operating in Turkey follow a different closure procedure than Turkish-incorporated entities. Istanbul Law Firm assists multinationals in closing Turkish branch operations while preserving legal records and tax compliance. A lawyer in Turkey prepares closure petitions, tax deregistration forms, and termination notices to the Trade Registry and Ministry of Industry and Technology. Our Turkish lawyers coordinate final payroll filings, SGK account closure, and utility disconnections. An English speaking lawyer in Turkey manages consular notifications and HQ-side documentation. Istanbul Law Firm makes foreign exit local and lawful. As a branch-termination-expert Turkish Law Firm, we dissolve presence without penalty.
While branches must notify tax and registry authorities, representative (liaison) offices must also close project files with the Investment Office. A lawyer in Turkey files activity reports, budget declarations, and foreign currency account closures. Our Turkish lawyers verify whether public incentives, rent reimbursements, or special authorizations require pre-clearance. An English speaking lawyer in Turkey prepares exit letters and asset statements for embassy and parent company use. Istanbul Law Firm aligns business exit with foreign compliance teams. As a liaison-office-closure law firm in Istanbul, we provide closure beyond the borders.
Failure to close a liaison office properly can result in blacklist entries or future visa complications. A lawyer in Turkey ensures that all final tax-free filings, deregistration letters, and bank notices are filed in order. Our Turkish lawyers create an audit-proof dossier of the closure process. An English speaking lawyer in Turkey ensures that no step is lost in translation. Istanbul Law Firm closes entities completely—not just partially. As a full-cycle-closure Turkish Law Firm, we deliver a legally clean goodbye.
5. Asset Liquidation, Debt Settlement and Final Distribution
Liquidation requires the conversion of company assets into cash and the settlement of all debts before remaining funds can be distributed. Istanbul Law Firm assists in drafting asset sale agreements, debt repayment plans, and distribution charts. A lawyer in Turkey ensures that asset transfers are legally valid and tax-compliant. Our Turkish lawyers submit real estate deregistration, inventory sales forms, and liquidation VAT filings. An English speaking lawyer in Turkey documents the process for shareholder review and legal archives. Istanbul Law Firm gives liquidation substance—not just form. As a commercial-asset-conversion law firm in Istanbul, we finalize with fiscal precision.
Debts to banks, suppliers, employees, and tax offices must be settled before any shareholder receives funds. A lawyer in Turkey verifies statutory debt hierarchy and ensures priority payments meet legal requirements. Our Turkish lawyers file creditor settlement agreements and obtain tax release letters. An English speaking lawyer in Turkey explains these obligations to international finance teams. Istanbul Law Firm protects shareholders by closing debt first. As a liability-prioritizing Turkish Law Firm, we comply before we distribute.
Once liabilities are cleared, remaining funds can be allocated according to the company’s shareholder agreement or liquidation charter. A lawyer in Turkey prepares final distribution protocols, bank instruction letters, and legal releases. Our Turkish lawyers obtain clearance from the Trade Registry and archive all final statements. An English speaking lawyer in Turkey ensures the outcome is acceptable to all stakeholders, including auditors and tax advisors. See our guide on handling asset transfers under Turkish liquidation law. Istanbul Law Firm distributes fairly, legally, and completely. As a dissolution-resolution law firm in Istanbul, we give closure its legal meaning.
6. Tax Authority Deregistration and Compliance Clearance
One of the final and most critical steps in company liquidation is formal deregistration from the Turkish tax system. Istanbul Law Firm coordinates with tax advisors and the Revenue Administration to complete all necessary filings and exit checks. A lawyer in Turkey prepares the closure petition, final ledger review, and liquidation balance sheets. Our Turkish lawyers submit VAT final returns, stamp duty assessments, and cancellation of e-invoice obligations. An English speaking lawyer in Turkey ensures that non-resident shareholders understand Turkish fiscal documents. Istanbul Law Firm closes tax files cleanly. As a deregistration-specialized law firm in Istanbul, we turn tax complexity into finality.
Tax officers may request additional information or documentation even after the final filings are submitted. A lawyer in Turkey responds to such requests with legal commentary and timeline control. Our Turkish lawyers defend directors and liquidators against late penalty claims and file petitions for interest waiver if justified. An English speaking lawyer in Turkey prepares summary memos for foreign investors and board-level review. Istanbul Law Firm prevents audit escalation. As a filing-defense Turkish Law Firm, we act as your post-filing legal shield.
After successful tax deregistration, the company receives a final tax clearance certificate, which is filed with the trade registry for full closure. A lawyer in Turkey ensures that this certificate is properly registered and archived. Our Turkish lawyers follow up with the local chamber of commerce and social security offices to confirm full compliance. An English speaking lawyer in Turkey bridges the outcome to the home country’s legal advisors. See our article on financial risk protection in Turkish company dissolution. Istanbul Law Firm formalizes the finish. As a tax-exit-confirmed law firm in Istanbul, we give you proof, not just process.
7. Employee Termination and Labor Law Compliance
Liquidation impacts employees directly and must comply with Turkish Labor Law on notice periods, severance pay, and social security filings. Istanbul Law Firm prepares full employee termination packages including legal notices and compensation calculations. A lawyer in Turkey ensures that all employment contracts are properly closed and SGK contributions are settled. Our Turkish lawyers file resignation acceptance, labor union notifications (if applicable), and exit records. An English speaking lawyer in Turkey communicates these obligations to international HR departments. Istanbul Law Firm ensures ethical and legal workforce exit. As a labor-compliance-driven Turkish Law Firm, we protect people as much as paperwork.
Failure to properly terminate employees can lead to lawsuits or labor court filings long after the company closes. A lawyer in Turkey anticipates risk and prepares preventive documentation including mutual termination protocols and waiver forms. Our Turkish lawyers hold exit interviews, create final settlement reports, and advise on unemployment insurance filings. An English speaking lawyer in Turkey ensures the employee record is globally defensible. Istanbul Law Firm closes the human side of the company with legal care. As a termination-safeguard law firm in Istanbul, we stop future claims before they arise.
Certain executive-level exits may also require board resolutions and legal declarations to protect directors from post-liquidation liability. A lawyer in Turkey structures these approvals and ensures compliance with company bylaws. Our Turkish lawyers file declarations with the trade registry and notary offices to finalize exits. An English speaking lawyer in Turkey prepares exit packages that align with foreign employment policies. Istanbul Law Firm closes at every level. See also our article on director liability in Turkish business law. As a senior-exit-aligned Turkish Law Firm, we make accountability crystal clear.
8. Why Work with Istanbul Law Firm?
Istanbul Law Firm is your legal partner for company liquidation in Turkey—from voluntary dissolutions to strategic exits. Our English speaking lawyer in Turkey team advises founders, directors, and multinational firms on how to shut down operations legally and efficiently. A skilled lawyer in Turkey structures every step with court logic, tax compliance, and business practicality. Our Turkish lawyers ensure filings, announcements, and resolutions reflect full compliance. As the best lawyer in Turkey for commercial exits, we turn legal burden into closure clarity.
From asset sales to SGK deregistration, we manage every step of the liquidation process with legal accuracy and strategic foresight. A lawyer in Turkey delivers timelines, court requirements, and notary protocols from experience. Our Turkish lawyers act with execution speed and documentary depth. An English speaking lawyer in Turkey connects local compliance with global stakeholder demands. Istanbul Law Firm makes finality strategic. As a closure-architecture law firm in Istanbul, we build legal exits with business logic.
Whether you are closing a Turkish startup, scaling down a regional branch, or dissolving a dormant company, Istanbul Law Firm brings structure, strategy, and finality. A lawyer in Turkey designs your exit path. Our Turkish lawyers complete every filing and resolve every challenge. An English speaking lawyer in Turkey ensures cross-border compliance every step of the way. As a liquidation-centric Turkish Law Firm, we make company closure not just legal—but intelligent.
9. Legal Risks of Incomplete or Informal Company Closure
Attempting to close a company in Turkey without completing the formal legal process is one of the most common mistakes foreign owners make. Istanbul Law Firm frequently handles cases where directors assumed the company was closed after stopping activity—but failed to complete liquidation filings. A lawyer in Turkey reviews the registry status, tax activity, and liability exposure to determine the actual legal position. Our Turkish lawyers file retroactive deregistration and penalty mitigation petitions when informal closure leads to audits or tax claims. An English speaking lawyer in Turkey explains the consequences of failing to act through formal legal channels. Istanbul Law Firm closes the gap between assumption and law. As a cleanup-execution law firm in Istanbul, we restore compliance after neglect.
Remaining on the trade registry while inactive exposes shareholders to continuing liabilities and enforcement risk. A lawyer in Turkey investigates whether unpaid taxes, SGK premiums, or court notifications have accumulated post-activity. Our Turkish lawyers trace enforcement proceedings and file protective objections where appropriate. An English speaking lawyer in Turkey delivers transparent risk reports to international stakeholders. Istanbul Law Firm prevents passive failure from turning into active debt. See our article on unwinding Turkish commercial obligations. As a business-risk-reversal Turkish Law Firm, we close what should have closed years ago.
Unclear company status can also damage reputational standing and future entry into Turkish markets. A lawyer in Turkey prepares legal opinion letters to explain closure steps and resolve misinterpretations. Our Turkish lawyers coordinate with notaries, consulates, and compliance officers to remove blacklist entries. An English speaking lawyer in Turkey helps restore name legitimacy in legal databases. Istanbul Law Firm doesn’t let poor closure affect future access. As a future-access-protection law firm in Istanbul, we close for today and protect for tomorrow.
10. Contact Istanbul Law Firm for Company Liquidation in Turkey
Closing a company in Turkey should be legally thorough, procedurally accurate, and internationally coordinated. Istanbul Law Firm offers end-to-end liquidation services that minimize risk and maximize regulatory compliance. A lawyer in Turkey prepares every required document—from board resolutions to tax filings to registry petitions. Our Turkish lawyers guide you through each milestone from planning to deregistration. An English speaking lawyer in Turkey ensures your foreign parent company or legal team is aligned every step of the way. As the best lawyer in Turkey for company closure, we convert complexity into clean exit.
We don’t just file—we manage directors, answer auditors, respond to courts, and ensure the business leaves no legal trace. A lawyer in Turkey conducts regulatory mapping and post-closure audit planning. Our Turkish lawyers organize secure recordkeeping and long-term liability coverage. An English speaking lawyer in Turkey prepares bilingual documentation for use across global entities. Istanbul Law Firm is your legal closure partner. As a liquidation-dedicated Turkish Law Firm, we dissolve presence without exposure.
Whether you are shutting down for strategic, tax, or administrative reasons, we bring clarity, finality, and legal confidence. A lawyer in Turkey maps your risks. Our Turkish lawyers resolve your obligations. An English speaking lawyer in Turkey ensures closure doesn’t stop your future. Contact us today for a liquidation roadmap. As a closure-completion law firm in Istanbul, Istanbul Law Firm finalizes your exit with full legal power.
Frequently Asked Questions (FAQ)
- How do I officially liquidate a company in Turkey? – Through shareholder resolution, liquidation period, tax clearance, and registry deregistration.
- Do I need to appoint a liquidator? – Yes. One or more liquidators must be registered in the trade registry during the process.
- Can I close a company without tax clearance? – No. Tax clearance is mandatory before final deregistration.
- What documents are required? – Resolutions, financial statements, tax forms, creditor notices, and registry forms.
- How long does liquidation take? – Typically 4 to 8 months, depending on company activity and debt.
- Can foreigners liquidate a company remotely? – Yes. We use notarized power of attorney and full coordination.
- Do I still owe taxes after closure? – Potentially, if there were previous errors or unpaid obligations.
- What if the company was inactive? – You still need formal closure or risk penalties and director liability.
- Is publication in the Trade Registry Gazette required? – Yes. Two announcements are mandatory during the process.
- What happens to employees? – They must be lawfully terminated with severance and insurance filings.
- Can I reopen the company later? – Not the same entity. You would need to form a new one.
- How do I start? – Contact us for a liquidation strategy session and legal documentation plan.