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Old 11th February 2014, 17:15   #1 (permalink)
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New Turkish company laws 2014

Our accountant has just told us we have until Feb 14th to have new paperwork prepared in line with new company laws in Turkey at a cost of 2000tl, has anyone else with a company been told this?

Also, when we set up our company we did so with the basic 5000tl in it, now despite it owning our house we have to 'bump up' the value of the company to at least 10,000tl, I don't understand this at all, if the company owns our house then surely it is worth whatever is on our tapu?

Any help/insight would be greatly appreciated?


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Old 11th February 2014, 18:28   #2 (permalink)
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Re: New Turkish company laws 2014

Hi Sara,

I received our list of our 2014 fees etc. from our accountant last month, and he did not advise us of any such changes to paperwork. I find him very reliable in this regard. It is also my understanding that the value of the company is that stated on the Tapu. We have never had to put any monetary capital into it since it was set up 9 years ago. I would certainly query this.
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Old 11th February 2014, 19:07   #3 (permalink)
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Re: New Turkish company laws 2014

It's only if you originally registered less than the 10,000tl as the company value I was told, as the law states this is the minimum value of a ltd company here now.

It's more the bit about the house value not counting I find confusing, if we bought it and put it in the company name then surely that raises the value of the company, but apparently it's 'not that easy'!


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Old 11th February 2014, 20:02   #4 (permalink)
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Re: New Turkish company laws 2014

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Originally Posted by Mag View Post
Hi Sara,

I received our list of our 2014 fees etc. from our accountant last month, and he did not advise us of any such changes to paperwork. I find him very reliable in this regard. It is also my understanding that the value of the company is that stated on the Tapu. We have never had to put any monetary capital into it since it was set up 9 years ago. I would certainly query this.
Ditto for us and we obviously have a different accountant to Mag, as ours is a woman.
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Old 12th February 2014, 05:31   #5 (permalink)
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Re: New Turkish company laws 2014

Thanks for your replies, off to the accountants this morning to see if I can understand anymore. Ours has never been the most helpful of chappies but all of the previous obscure charges have checked out when I've searched for answers so I don't think he's trying to rip us off, just puzzling that we seem to be the only ones having to do this, there must be more company owners out there that need new paperwork?


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Old 12th February 2014, 16:13   #6 (permalink)
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Re: New Turkish company laws 2014

Ok, back from accountants and 2000tl lighter! In line with these new laws everyone that started their companies with the bare minimum 5000tl anytime in the past has until Friday to up their company value to 10,000tl, you only need to leave the money in the actual bank until the paperwork is completed, as in the beginning when setting it up. Apparently the value on the tapu is an 'asset' of the company, not the company value, asked the bank manager too when we went to get paperwork sorted out and she said my accountant was right in what he was doing?


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Old 12th February 2014, 19:16   #7 (permalink)
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Re: New Turkish company laws 2014

If you paid 5000 tl to start with and the law says you now have to bring the value up to 10,000 tl, I am wondering why you only had to pay 2,000 tl today? When we started our company we didn't have to put up any money at all. Does your company trade maybe?
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Old 12th February 2014, 19:31   #8 (permalink)
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Re: New Turkish company laws 2014

Same as us, ChristineP. We set up our company in 2007, just to buy a house in Selimiye. Our lawyer and our accountant explained that as the company was classed as "inactive" we did not need to put in any money. I believe the rules changed a few years later for new companies being set up, but were not retrospective for existing companies.
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Old 12th February 2014, 20:01   #9 (permalink)
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Re: New Turkish company laws 2014

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Same as us, ChristineP. We set up our company in 2007, just to buy a house in Selimiye. Our lawyer and our accountant explained that as the company was classed as "inactive" we did not need to put in any money. I believe the rules changed a few years later for new companies being set up, but were not retrospective for existing companies.
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Ours was set up in 2005 and likewise we did not have to put in any money. Have never been advised to do so since then, so presume it's due to when it was originally set up.
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Old 12th February 2014, 21:55   #10 (permalink)
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Re: New Turkish company laws 2014

We have never put money into our company, Sara you should check this out.
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