Company Closure and Liquidation Process in Türkiye in 2025: A Step-by-Step Guide for International Entrepreneurs

As of 2025, the process of closing and liquidating a company in Türkiye involves a structured and legally regulated series of steps. These procedures differ depending on the company type—limited, joint stock (anonim), or sole proprietorship—and must comply with local legal and fiscal regulations. For international entrepreneurs looking to exit the Turkish market, understanding these steps ensures a smooth and lawful transition.

Key Stages of the Liquidation Process

1. Resolution and Official Notification

• Company partners must convene a general assembly to make a liquidation decision (a 75% majority is required for Limited and Joint Stock Companies).
• The liquidation resolution must be reported to the trade registry and tax office within 7 business days of the decision.
• A public announcement must be made three times in the Turkish Trade Registry Gazette, granting creditors a 1-month period to submit claims.

2. Completion of Financial Obligations

The following debts and liabilities must be settled in priority order:

• The final balance sheet must be notarized and submitted to the tax office.
• The final SGK declaration must be submitted electronically via the e-Government portal.

3. Asset Management and Distribution

• All assets (movable and immovable) are sold via digital auction platforms, accompanied by certified expert valuation reports—a mandatory provision from 2025 onward.
• Once all debts are cleared, the remaining funds are distributed among shareholders based on their registered capital ratios.
• The liquidation completion report is submitted and registered through the Central Trade Registry System (MERSİS).

Differences Based on Company Type

Limited Liability Companies

• Appointment of a liquidator is mandatory. This individual must be either a licensed attorney or certified financial advisor.
• Shareholders are required to participate actively and submit monthly status reports throughout the process.

Joint Stock Companies (Anonim)

• A Capital Markets Board (SPK)-approved independent audit report is required.
• A detailed feasibility report must be shared with shareholders before dissolution.

Sole Proprietorships

• Simpler closure procedures apply. A single-party approval is sufficient to initiate liquidation.
• Applications can be submitted online in one click via e-Government.

Important 2025 Regulatory Updates

• Trade registry fees have been removed. Instead, a 0.4% service charge is applicable.
• Companies with foreign partners must submit notarized translations of key documents in Turkish and English.
• Digital assets within company ownerships must go through a process overseen by the Banking Regulation and Supervision Agency (BDDK).

Duration and Efficiency Gains

While liquidation typically takes between 6 to 9 months, recent digital enhancements introduced in 2024 have shortened this timeline by up to 30%. By 2025, nearly all stages of the process—excluding physical asset sales—can be completed electronically, allowing for more streamlined procedures for both local and international businesses.

Recommendations for International Entrepreneurs

If you are a foreign business owner considering company dissolution in Türkiye, it is highly recommended to:

• Consult with professional legal and financial advisors familiar with Turkish corporate law.
• Review applicable double taxation agreements between Türkiye and your home country to optimize tax obligations during liquidation.
• Prepare all required documentation—including translations—for submission to regulatory institutions.

Proper planning and understanding of the legal framework greatly minimize risks during closure and ensure compliance with Türkiye’s evolving commercial regulations.

One of the companies providing professional support for business liquidation in Türkiye is FinLog Consulting. Their team of experts assists clients through every stage of the closure process — from risk assessment to communication with government authorities.You can request a consultation and get support via their website: finlogconsulting.com.