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Closing down a Limited Company

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Old 31-10-2008, 10:14   #1
Konuk

 
Varsayılan Closing down a Limited Company

I wonder if you could help me please.

I am married to a Turk and we have a limited company that we wish to close down as we are getting a divorce. My husband owns 51% and I own 49&. We have a few bills to pay but this will be done before we proceed with the closure.

Could you tell me what the procedure of closing a company and a rought idea of what the costs and time period would be.

Also would I be able to leave Turkey before the closing of the company is finished

Thanking you in anticipation.
Old 02-11-2008, 02:42   #2
Av. Bülent Sabri Akpunar

 
Varsayılan

Dear Konuk,

Pursuant to the provisions of Turkish Commercial Code(TCC) , specifically in the Articles 549 to 552, a Limited Company's dissolution is subjected to the requisites below :

- Upon the grounds stipulated in the articles of incorporation,
- Unless otherwise stipulated by the articles of incorporation, by resolution of at least 3/4 of the shareholders with a majority of votes representing 3/4 of the total capital of the firm,
- Upon the bankruptcy order of the firm,
- Upon a request by a shareholder due to the reasonable grounds, by a court order.
- Upon the other grounds specified by law.

As far as a limited company composed of two shareholders, as in your case, and a capital divided as of %51 and % 49 is concerned, the resolution said above towards a dissolution should be taken by both of the shareholders together.In default of such a chance, you may, as a shareholder, claim the dissolution of the firm before the Court depending on the reasonable grounds.

In case the firm is under obligation of tax payments and is in default thereof, the tax authority can impose a travel ban outside of Turkey for the shareholders.
Old 03-11-2008, 19:10   #3
Konuk

 
Varsayılan

Thank you very much for the information and for taking the time to answer.
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