Incorporated Company Capital Decrease Transactions

1- MERSIS Application

2-) Petition

It must be signed by the authorized person with the company stamp, and if signed by proxy, the original or certified copy of the proxy must be attached.

3-) Ministry representative appointment letter

4-) List of attendees

5-) A report on the reduction of the capital prepared by the board of directors and approved by the general assembly showing the reasons for the reduction of the capital, the purpose of the reduction and the manner in which the reduction will be carried out (1 copy)

6-) Notarized minutes of the general assembly meeting where the draft amendment to the amended articles of the articles of association and the report of the board of directors regarding the reduction of the capital are approved and the manner in which the reduction of the capital will be carried out (2 copies)

7-) Copies of the registry gazette showing that the company's creditors were called three times with seven days intervals after the capital reduction was accepted at the General Assembly (Annex 1)

8-) CPA or Certified Public Accountant report and certificate of activity or auditor's report on these determinations in companies subject to audit, in companies whose establishment and amendment of the articles of association are subject to the permission of the Ministry, this report is prepared by a certified public accountant.

9-) In the annex of the list signed by the board of directors showing the creditors who have made a declaration, the document showing that the receivables of the creditors who have declared that they are creditors have been paid or secured or the financial advisor activity report and financial advisor activity certificate confirming this situation

10-) If there is no creditor making a declaration, the statement of the board of directors regarding this issue prepared 2 months after the 3rd announcement date

10-) For companies whose amendment of the articles of association is subject to the permission or approval of the Ministry or other official institutions, this permission or approval letter  

- After the expiration of the 2-month period given to the creditors and the payment or collateralization of the declared receivables, the registration of the reduction may be requested with the documents mentioned above.

- If the capital is to be reduced in order to close a deficit in the balance sheet as a result of losses and in proportion to these deficits, if the board of directors has waived calling the creditors and payment of their rights or obtaining collateral and the board of directors' decision regarding this has been submitted to the directorate, the copies of the registry gazette regarding the call to the company's creditors and the call letters made to the known creditors and the samples of the documents showing that the receivables have been paid or secured are not required.

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