We are talking about Charter No. 7887, which makes changes to the requirements for the authorized capital of LLCs and JSCs. Thus, from January 1, 2024, the minimum authorized capital will increase 5 times.
What will be the minimum amounts? For a joint-stock company the sum will be $8,700, for a limited liability company – $1,730, for non-public joint-stock companies – $17,400.
This decision was made to improve the efficiency of business development in Turkey and stimulate the financial sustainability of companies. But still, it can have both positive and negative consequences.