Finlexia is a globally recognized Turkish Accounting Firm with a long record of excellence and professional leadership in Istanbul, Turkey. Our Turkish accountants and our Turkish Tax Lawyers are prepared to handle your Company Liquidation in Turkey. Finlexia handles all kinds of accounting services required to run your company in Turkey. We offer the best accounting services, at competitive prices. Our compliance team is prepared to handle your company’s compliance services in Turkey. Finlexia handles all kinds of compliance services required to run your company in Turkey.
Finlexia handles all steps required for company liquidation in Turkey . Please contact us via email or phone for appointing a liquidator to carry on the company dissolution, submitting the required application forms, dealing with the Court, closing the company’s bank account or any other necessary activities for closing a business in Turkey.
The act of company liquidation in Turkey is regulated by the Commercial Code. There are many reasons a company may register the liquidation and the decision can be taken by the general assembly of the company or by a competent court.
The reasons of liquidation can be the accomplishment of the specific goals stipulated in the articles of association, the expiration of the availability term posted in the articles, the decision of the members that the company is no longer meeting their requests, a claim made by creditors to a Court or the beginning of the process of bankruptcy.
The liquidation can be voluntary (as a result as the company’s general assembly decision) or compulsory (as a result of a Court request).
What are the Steps for Company Liquidation in Turkey?
If the decision of company liquidation is taken by the members of the company during a general meeting, a liquidator must be appointed to represent the company during the process. The name and its details, along with the decision of liquidation must be registered at the Turkish Trade Registry. The general meeting has the powers to dismiss the liquidator and can decide what power he has.
In case of a compulsory liquidation, the Court must appoint the liquidator and has the power to dismiss it if necessary. The liquidator must elaborate a balance sheet and an inventory statement and show it in a general meeting where it must be approved. If it receives the approval, the liquidator can begin the process. The liquidator is checking the documents and is notifying the creditors regarding the liquidation process. He is also deciding the specific terms if depositing the claims.
Company Liquidation Procedures in Turkey?
The creditors are then submitting their claims and if it doesn’t do it on time the amount necessary to cover their claims is deposited to an administrative authority appointed by the liquidator. An intermediary balance sheet and reports regarding the liquidation status must be elaborated and presented at the annual general meetings.
The remaining assets resulted after covering all the claims can be divided among the shareholders, up to their contribution to the company’s capital. After that, a last general meeting is convened and the last balance sheet and a report regarding the termination of liquidation and its results are presented by the liquidator. The decision is then registered at the Trade Register and the name of the company is permanently deleted from it.
The liquidator must also appoint a person where all the company’s documents will be kept for a period of minimum 10 years. The name and the address of that person must be mentioned in the application sent to the Turkish Trade Registry. After that, the liquidator is paid for his work and it’s dismissed.
Compliance Services in Turkey
Today, clients are faced with unprecedented challenges as new laws and regulations are changing the way the corporate world works. Finlexia accounting firm has one of the preeminent corporate governance practices in Turkey, drawing upon the expertise of our corporate, securities, governance, litigation, and compensation specialists to provide our clients with the information and analysis needed to respond to a rapidly changing regulatory environment.
Finlexia is globally recognized Turkish accounting firm with a long record of excellence and professional leadership in Istanbul, Turkey. Our Istanbul team is prepared to handle your company’s compliance needs.
In today’s increasingly competitive environment, companies are under constant pressure to improve their performance and build shareholder value at the same time. Therefore, leading edge companies tend towards outsourcing for their secondary “non-core” activities, in order to allow their personnel to focus on their core business.
In line with this trend, Finlexia compliance serves its clients in order to meet their outsourcing needs for secondary activities such as accounting, payroll, management reporting and others. Our approach to outsourcing is, to build a close cooperation with our clients in a flexible way, in order to meet their different needs.
Finlexia compliance team assists many local and multinational entities from various sectors, with its team of 14 professionals specialized in different areas.
- Bookkeeping in accordance with Turkish statutory requirements
- Inflation accounting in line with Law No:5024
- Management reporting in foreign currency and in accordance with IFRS
- Services on fixed assets (fixed asset count, recording and reporting)
- Controlling and checking the accounting records
- Software selection, chart of accounts set-up and short-term secondments for accounting services
Corporate Income Tax Compliance Services
- Preparation of; annual corporate income tax return
- Quarterly advance tax return, monthly/quarterly WAT return
- Preparation and filing of e-tax returns
- Review of tax accounts and returns
- Preparation of tax reports in lien with company reporting policies
- Tax compliance services
Indirect Tax Compliance Services
- Preparation of monthly VAT return
- Stamp tax return
- Preparation and filing of e-tax returns
- Review of tax accounts and returns
- Preparation of tax reports in line with company reporting policies, tax status reporting through Global Compliance Solutions Database and short-term secondments for tax compliance services
- Processing and checking the payroll
- Monitoring payroll related payments
- Preparation of social security and e-declarations
- Computation of indemnity and severance pay liability
- Handling application / leaving documentation for new recruits and leaving personnel
- Preparation of payroll reports and related accounting records and checking personnel special expense allowance documents
Corporate Secretarial Services
- Finalisation of the establishment
- Closing and address changing procedures of companies
- Branches and liaison offices with tax and social security administration
- Extending liaison office licences, preparation of liaison office annual reports to the Foreign Investment Directorate
- Obtaining work and residence permits for expatriate personnel and short-term secondments for administrative support
Audit Services in Turkey
Audit services are essential to establish credibility and build reputation – critically important assets in a global economy undermined by business scandals on multiple continents. Companies that successfully address audit issues improve the quality of their financial reporting and stand to gain credibility internationally with leading sources of capital.
Given the importance of audit services, many senior executives and audit committees look to accounting firms for efficient procedures, the value of their work, and personal service. Your organization stands to gain in multiple areas – reputation, insight, service, and cost – by finding experienced auditors who truly value your business.
Our Audit Services in Turkey
As auditors in Turkey, we provide independent, objective and reliable audit opinions on the financial statements.
- Auditing services for financial statements
- Preparation of financial statements
- IFRS reporting
- Systems and process assurance
- Assistance on capital market transactions
- Corporate reporting
- Internal Audits
- Financial risk management
- Due diligence
- Company valuation
Experience and Respectful Reputation in Turkey
Finlexia has the knowledge and expertise necessary to help you with complex financial accounting issues. Our firm audits many of Turkey’s best-known companies and many of other organisations both large and small. Our audit approach, at the leading edge of best practice, is tailored to suit the size and nature of your organisation and draws upon our extensive industry knowledge. Our deep understanding of regulation and legislation means we can also help with complex reporting issues involving Sarbanes-Oxley and International Financial Reporting Standards (IFRS).
Additionally, we are leaders in the development of non-financial performance reporting, helping our clients respond to the need for greater transparency, improved corporate governance, and business models based on the principles of sustainability.
Our mission is to help our clients improve their companies’ value, improve their development, create competitive advantage and diminish their managerial risk.
The globalization effect causes the increase in mergers and acquisitions. Companies do not only use domestic financing instruments but also to foreign ones. Due to fact that individuals, shareholders or other institutions need more reliable, comprehensible and considerable data in order to make companies reach realistic results, all of these make independent auditing a must.
Corporate management, boards and audit committees, internal and external auditors, analysts and other investment professionals all have important roles to play in rebuilding investor trust by executing their respective responsibilities, keeping in mind both legal obligations and the heightened expectations of investors.
Meeting investor expectations begins with the completeness and accuracy of information contained in a companies financial statements. In the present economic conditions, business ethics and social responsibility constitute our starting point for success. In this sense, the relationship with our clients fundamentally based on values such as honesty, independence and objectiveness.
Advisory Services in Turkey
Evaluating a company in another country compounds these risks. You are dealing with a different language and cultural barriers; different business ethics, legal systems, filing regulations, and accounting principles; transfer pricing that affects taxation – and often government involvement.
But international deals often provide the best growth opportunities. They can offer improved returns from economies of scale, new target markets for existing products/services, access to commodity materials, and a hedge against seasonality.
Even savvy managements and private equity investors cannot know everything they should to make a deal successful, so they need an experienced international advisor.
Our Advisory Services in Turkey
Particular emphasis is placed on the client priorities of performance improvement, crisis management and transactions. Specifically, we can help with the following:
Performance Improvement offering helps you attain increased performance by improving the efficiency and effectiveness of your company’s key business operations.
Evaluate and assist in the implementation of acquisitions, sourcing, divestitures and strategic alliances, as well as in gaining access to global capital markets, we are well-known in the marketplace for our knowledge and experience in all types of financial transactions.
In today’s environment, businesses need to effectively manage critical events that have the potential to cause significant business interruption and generate extensive media coverage. Whether you are an executive or owner of an organization that is experiencing a business crisis, or an adviser or lender to one, Finlexia can help you respond to and control the situation.
As Finlexia, we offer VAT consulting services for domestic and international companies through our VAT experts. The experts in our VAT group have extensive experience and know-how in determining VAT-related issues that may arise in domestic and international companies. We offer solutions to our clients’ problems based on our extensive VAT experience.
Our Customs and Foreign Trade consulting services aim at decreasing the number of problems that may arise at customs, benefiting from new customs techniques that decrease costs and save time, regulating companies’ relations with their customs brokers, informing clients about the legislation and practices in the European Union, and helping them in solving problems with customs offices.
Whether you are pursuing new opportunities; dealing with a serious event; or managing the daily pressures of growth, competition and shareholder value, we’re here to help. Advisory specialists from all over the world connect with one another and with you to help your business move from strategy to implementation and focus on results.
Reach us for Company Liquidation in Turkey
Since its foundation, Finlexia Turkish Accounting Firm has been the choice of numerous clients in Turkey. Thanks to its nationally recognized accountants and accounting services, our accounting firm is now one of the leading accounting firms in Istanbul, Turkey. You may reach our accountants and lawyers for Company Liquidation in Turkey by sending by sending an email or filling in Contact Form in Contact page.