Leaving is a service too
Groups plan for entry and improvise the exit. Then a decision is taken at head office to close the Turkish subsidiary, and the local team discovers that the entity cannot simply stop filing — it has to be liquidated, and until it is, every obligation continues.
An entity left dormant rather than liquidated keeps accruing filing duties, keeps needing an accountant, and keeps its directors exposed. Closing it properly is cheaper than not closing it.
The statutory timeline
Under the Commercial Code, once liquidation begins the liquidator must call creditors: known creditors by registered letter, and other creditors by three announcements at one-week intervals in the Trade Registry Gazette and on the company's website.
The residual assets may not be distributed until three months have passed from the third announcement.
In practice, a clean liquidation runs four to six months from start to deregistration: roughly two weeks of announcements, the three-month wait, then the final liquidation balance sheet, the shareholders' resolution and the registry deletion. Where there are disputed balances, unresolved tax matters or assets to realise, it takes longer — and the delay is almost never the registry.
What we do
Before you start. We tell you what closing will actually cost and surface what has to be cleaned up first. Uncollected receivables, an outstanding intercompany balance, a VAT position, an unclosed incentive certificate — each is easier to resolve before the entity is in liquidation than during it.
During. Liquidation-period accounting and the returns that go with it, the creditor process, realisation and settlement, and the reporting your parent needs to derecognise the entity in its own accounts.
At the end. The final balance sheet, the closing resolutions, deregistration from the trade registry, and deregistration with the tax office and the social security institution. The last two are the ones most often left half-done, and they are what produces a letter two years later addressed to a company that no longer exists.
Branches and liaison offices
A branch closure and a liaison office closure are different processes with different authorities, and neither follows the company liquidation route. A liaison office in particular has permit conditions attached to its closure that are easy to miss. Tell us which structure you have.