Company liquidation and closure services

Quick answer

Information and guidance on the requirements for liquidating and closing companies in Turkey, and settling the related legal and financial obligations.

When do you need to formally liquidate your company?

Many foreign business owners in Turkey reach a stage where they decide to stop their company's activity — whether because the project has ended, they're relocating to another country, or restructuring the business and merging it into a new entity. The problem is that many believe simply stopping operations and invoicing is enough to legally end the company's existence, and this is not correct. The company remains registered and retains its legal personality as long as it has not been closed through a formal liquidation procedure, and its tax and legal obligations remain in effect even if there is no actual activity on the ground.

What are the legal consequences of liquidating a company in Turkey?

Turkish Commercial Code No. 6102 regulates the formal winding-up of companies (joint-stock and limited), and requires a formal liquidation decision to be adopted, registered, and announced in the trade registry, in addition to appointing a liquidator who represents the company during this stage.

The law also sets a legal notice period for creditors: the company is required to invite creditors to submit their claims through repeated official announcements in the trade registry gazette, and the remaining company assets may not be distributed to the partners before a legally defined period elapses after the last announcement, in order to protect creditors' rights.

Tax obligations do not automatically end simply upon the liquidation decision. The tax liability remains in effect until all related procedures are completed, special tax returns for the liquidation stage must be filed, and the liquidator bears personal liability if they distribute company funds without setting aside enough to cover due or potential taxes. Only after completing these stages can the company be finally struck off the trade registry.

Key points to know

  • Stopping activity without a formal liquidation does not legally end the company's existence, and leaves the partners exposed to continued accumulation of tax obligations and potential fines
  • Unsettled debts and obligations can pursue the company owner or its manager even after the business has actually stopped operating on the ground, as long as the records have not been officially closed with the relevant authorities
  • Carrying out the liquidation incorrectly or hastily, or ignoring the creditor notification stage and the legal deadlines, exposes whoever handles the liquidation to personal liability for the company's obligations
  • Coordinating the liquidation process across the commercial side (trade registry), the tax side, and the insurance side is necessary to actually and finally close the file without later surprises

Frequently asked questions

Can I just stop operating without a formal liquidation? This is not advisable. The company remains legally registered and its legal personality continues as long as it has not been closed through a formal liquidation, which means tax and legal obligations continue even if actual activity has stopped.

Does liquidation automatically end all tax obligations? No. The tax liability remains in effect until all procedures related to the liquidation stage are completed, special returns must be filed, and whoever handles the liquidation bears personal liability if they do not account for due or potential tax obligations before distributing funds.

How long does the liquidation process usually take? There is no standard fixed duration, but the law imposes a mandatory waiting period after the last announcement inviting creditors before the remaining company assets may be distributed. The total liquidation time varies depending on the company's size and the complexity of its obligations.

What happens to the company's remaining debts? Debts owed to creditors and government bodies must be settled as part of the liquidation procedures themselves. Any unsettled obligations can continue to be pursued legally, and may affect the partners or the liquidator depending on the case and the responsibilities set out by law.

How can Rafiq help with this service?

Rafiq coordinates Company liquidation & closure through a partner. Send your needs for guidance on an appropriate next step.

Common questions and related topics

These are common topics customers research before starting. Requirements and final decisions depend on your situation and the relevant authorities or providers.

  • how to legally close a company in Turkey
  • steps to liquidate a limited company
  • prepare dissolution resolution for shareholders meeting
  • de-register company at trade registry office
  • settle outstanding liabilities before company closure
  • finalize employee terminations and severance obligations
  • file final tax declarations after liquidation
  • appoint liquidator and manage winding up process
  • cancel company tax and social security registrations
  • close corporate bank accounts and settle debts
  • publish liquidation notice and creditor claims process
  • convert company assets during liquidation process
  • prepare final balance sheet and reports
  • appointment with corporate liquidation specialist in Istanbul
  • requirements to remove company from registry
  • handle creditor claims during company closure
  • dissolve company and distribute remaining assets
  • notify business partners and clients about closure
  • restore or reopen a dissolved company options
  • follow-up support after company deregistration

Official sources

The information on this page follows what these official authorities publish; the final decision in every procedure is theirs: