No more depositing cash capital during incorporation of a limited liability company

As per the law numbered 7099, a limited liability company's shareholders are no longer required to deposit at least 1/4 of the share capital during incorporation.

The minimum capital requirement to incorporate a limited liability company in Turkey is TRY 10000 and you were used to deposit at least TRY 2500 during incorporation to get a bank letter to present to Istanbul (or other) Chamber of Commerce. [SoHo SMMM]

With this new regulation, such requisite is no longer applicable.

This development will do speed up the company incorporation for foreign companies as it was a time consuming process to go through KYC (know your client) procedures of banks at the time of incorporation.

SoHo Accounting Firm will continue to assist you if you are intending to incorporate a joint stock company to get the relevant bank letter. [SoHo SMMM]