Can foreign investors freeze company assets during a shareholder dispute in Turkey? Learn the 2026 rules on preliminary injunctions, provisional attachments, bank accounts, company shares, real estate, vehicles and urgent asset protection.

Yes. A foreign investor may be able to obtain urgent court measures protecting company assets during a shareholder dispute in Turkey, but there is no automatic right to “freeze the company” simply because a disagreement exists between shareholders.

The appropriate remedy depends on what the foreign investor is trying to protect.

If the dispute concerns company shares, real estate, vehicles, management rights or another specific asset directly connected with the lawsuit, a preliminary injunction may be available. If the foreign investor has a monetary claim against another shareholder or manager, a provisional attachment may be the more appropriate remedy.

The Turkish Ministry of Trade continues to list the Turkish Commercial Code No. 6102 as the principal company-law legislation governing Turkish companies in 2026.

For foreign investors, the central issue is therefore not simply whether assets can be frozen, but which asset, against whom, on what legal basis and for what underlying claim.

What Does “Freezing Company Assets” Mean?

There is no single universal company-asset freeze.

Depending on the circumstances, an investor may seek measures affecting:

company-owned real estate,

company shares,

vehicles,

bank funds,

machinery,

receivables,

valuable movable assets,

or the ability to transfer a disputed right.

The purpose of temporary court protection is generally to preserve the position until the underlying shareholder dispute can be decided.

For example, if one shareholder is preparing to transfer the company’s only valuable property to a related company before litigation begins, the other shareholder may need to seek urgent protection before the transfer is completed.

What Is a Preliminary Injunction?

A preliminary injunction is a temporary judicial measure intended to prevent a disputed right from becoming impossible or significantly more difficult to enforce before final judgment.

Article 389 of the Turkish Code of Civil Procedure provides that an injunction may be ordered where a change in the existing situation could make enforcement of a right substantially difficult or impossible, or where delay could cause serious harm.

This is highly relevant in shareholder disputes involving imminent transfers of assets.

The court generally examines whether there is a sufficiently credible right and whether delay creates a real risk requiring urgent protection.

When Can a Foreign Shareholder Request a Preliminary Injunction?

A foreign investor may consider a preliminary injunction where, for example:

a company-owned property is about to be sold,

shares are about to be transferred contrary to an agreement,

a disputed corporate resolution is about to be implemented,

management is attempting to dispose of a major company asset,

a shareholder is trying to alter control before the dispute is resolved,

or a disputed asset may disappear before judgment.

The measure requested should normally be connected to the subject matter of the underlying dispute.

A court will not ordinarily freeze every company asset merely because two shareholders no longer trust each other.

Can the Court Stop the Sale of Company Real Estate?

Potentially, yes.

Suppose a foreign investor owns 50% of a Turkish company and discovers that the other shareholder is attempting to sell a factory, apartment, warehouse or land that forms a major part of the company’s value.

If the investor can show that the proposed transfer is directly connected with the dispute and could cause serious harm, an application may be made for an injunction preventing transfer or placing a restriction on the property while proceedings continue.

The urgency of the application matters.

A protective order obtained before a transfer is generally more useful than attempting to recover property after several subsequent transfers.

Can the Court Freeze Company Shares?

Potentially.

Share disputes frequently concern:

ownership of shares,

invalid share transfers,

breach of transfer restrictions,

shareholder agreements,

rights of first refusal,

fraudulent transfers,

or attempts to change voting control.

Where shares themselves are the subject of the lawsuit, the court may consider measures designed to prevent further transfer while the dispute is pending.

The exact measure depends on the company type, share structure and relief sought in the principal case.

Can a Foreign Investor Freeze a Company’s Bank Account?

This is more complicated.

A court does not normally freeze an entire company’s bank account merely because a shareholder alleges mismanagement.

The foreign investor must establish a legal basis connecting the requested measure to the underlying claim.

Where the claim is a specific monetary receivable, provisional attachment may be more appropriate.

Where the company bank account itself contains disputed funds or there is evidence of imminent diversion directly connected with the lawsuit, temporary judicial measures may be considered depending on the facts.

A broad request preventing a functioning company from using any money at all may be viewed more critically because it could paralyze the business.

What Is Provisional Attachment?

Provisional attachment is principally a protective remedy for monetary claims.

Article 257 and following provisions of the Enforcement and Bankruptcy Law regulate provisional attachment. Legal analysis of the provision emphasizes that the remedy is designed to secure a monetary receivable by temporarily attaching assets before final collection becomes impossible or substantially more difficult.

This is different from a preliminary injunction.

A preliminary injunction protects a disputed right or asset.

A provisional attachment protects collection of a monetary claim.

Example: Foreign Shareholder Has a Monetary Claim Against the Partner

Assume a Turkish business partner unlawfully withdrew TRY 15 million from the company and the foreign shareholder later acquires or holds a direct monetary claim against that partner.

If the statutory conditions are met and there is a risk that the partner will hide or dispose of assets, provisional attachment may be considered against that person’s property.

The target may potentially include qualifying assets such as bank funds, vehicles or real estate.

The remedy is aimed at securing the monetary claim rather than regulating corporate management.

Can a Provisional Attachment Be Used Against Company Assets?

Only if the company itself is legally the debtor on the relevant monetary claim.

This distinction is critical.

A foreign shareholder cannot normally pursue company assets for a personal claim against another shareholder merely because the wrongdoer owns shares in the company.

The company and the shareholder are separate legal persons.

If Shareholder A owes money personally, assets owned by the company are not automatically Shareholder A’s personal assets.

The correct defendant and ownership structure should therefore be established before requesting any freeze.

What If the Turkish Partner Misuses Company Money?

If a managing shareholder transfers corporate funds to personal accounts, related companies or family members, several remedies may need to be considered simultaneously.

The foreign shareholder may first need to obtain:

company bank records,

accounting books,

transfer records,

invoices,

management resolutions,

and information regarding the recipient accounts.

The Ministry of Trade confirms that shareholders and board members have statutory information and inspection rights in appropriate circumstances. It also notes that where such rights are unlawfully denied, judicial remedies before the commercial court may be available.

Evidence gathering is often the first stage of a successful asset-protection application.

Can the Foreign Shareholder Ask the Court to Block All Company Payments?

Such a broad measure would normally be difficult to justify.

Courts must balance protection of the applicant’s rights against the risk of unnecessarily destroying or paralyzing the company.

A more targeted request may be stronger.

For example:

preventing transfer of one factory,

blocking disposition of specified shares,

restricting sale of a particular vehicle fleet,

or protecting a specific disputed receivable

may be more proportionate than requesting a complete prohibition on every company payment.

Can a Court Restrict a Bank or Registry Office?

Temporary relief can sometimes operate through third parties that control or register the relevant asset.

Current 2026 litigation guidance notes that Turkish injunctions may be implemented against third parties such as banks or registry authorities where those entities control the property or right subject to the measure.

This can be important where the protective measure concerns:

bank funds,

registered shares,

real estate,

or another officially recorded asset.

Can Turkish Courts Freeze Assets Located Abroad?

Not directly.

Turkish interim measures generally have territorial effect within Turkey.

Current 2026 litigation guidance states that Turkish courts cannot issue worldwide asset-freezing orders with direct extraterritorial effect. If assets are located abroad, protective measures usually must be sought in the jurisdiction where those assets are situated.

This is particularly important in international shareholder disputes involving accounts in Switzerland, the United Kingdom, the United Arab Emirates or other jurisdictions.

Can Foreign Investors Request These Measures on the Same Terms as Turkish Shareholders?

In principle, foreign status does not prevent a shareholder from seeking judicial protection.

The important questions are:

whether the investor has standing,

whether the Turkish court has jurisdiction,

whether the requested measure is legally available,

and whether the evidentiary requirements are satisfied.

In some proceedings involving foreign claimants, security requirements may also need to be reviewed separately.

Does the Foreign Investor Need Strong Evidence?

Yes.

Temporary measures can significantly interfere with another person’s property or a company’s operations.

The applicant should therefore provide concrete evidence rather than general suspicion.

Useful evidence may include:

bank transfer records,

messages showing plans to transfer assets,

draft sale agreements,

trade registry records,

board decisions,

accounting records,

title information,

share transfer documents,

and evidence of previous asset diversion.

The more urgent the requested measure, the more important it is to present a coherent factual record.

Is Full Proof Required?

Temporary legal protection generally operates under a lower evidentiary threshold than a final judgment.

The applicant must still make the claim sufficiently plausible.

Article 389 practice focuses on whether there is a credible underlying right and a real risk that delay will make its enforcement significantly harder or cause serious damage.

A mere statement that “I do not trust my partner” will normally be insufficient.

Can the Court Require Security From the Investor?

Potentially, yes.

Courts may require an applicant seeking interim relief to provide security to cover potential damage caused if the measure later proves unjustified.

Security requirements can be especially relevant where the requested measure could substantially affect a company’s operations or another shareholder’s property.

The amount and necessity depend on the remedy and circumstances.

Can a Preliminary Injunction Be Requested Before Filing the Main Lawsuit?

Yes, temporary protection may in appropriate circumstances be sought before the principal lawsuit is filed.

However, obtaining an injunction before the lawsuit does not allow the applicant to postpone the principal proceedings indefinitely.

The Code of Civil Procedure contains strict follow-up requirements after pre-action relief. Legal analysis of Article 397 indicates that where an injunction is obtained before the main lawsuit, the principal claim must be pursued within the statutory period or the temporary protection may cease.

This means an emergency application must be part of a broader litigation strategy.

Can an Injunction Be Requested After the Lawsuit Has Already Started?

Yes.

An applicant may seek temporary protection during pending litigation where a relevant risk develops or becomes apparent later.

For example, a lawsuit over invalid shareholder resolutions may already be pending when one shareholder suddenly attempts to transfer the disputed company property.

The applicant can then assess whether new circumstances justify urgent temporary protection.

What Happens If the Freeze Was Wrongfully Obtained?

An investor should not seek an asset freeze simply as negotiating pressure.

Wrongful interim measures can create potential liability for losses caused to the other party.

This is another reason courts examine proportionality and may require security.

Requests should be based on genuine asset-protection needs, not an attempt to shut down a business during negotiations.

Can an Investor Freeze Assets Because of a 50–50 Deadlock?

A corporate deadlock alone does not automatically justify freezing company assets.

However, a 50–50 deadlock combined with evidence that one shareholder is:

selling key assets,

withdrawing money,

transferring shares,

moving company business elsewhere,

or stripping the company of value

may justify consideration of urgent protection.

The articles of association and any shareholder agreement should also be reviewed.

Can Assets Be Frozen During a Director Liability Case?

Potentially, depending on the claim.

Where a director or manager faces a substantial monetary claim for damage caused to the company, provisional attachment may be considered if statutory conditions are met.

The Turkish Commercial Code remains the principal source of company-law duties and liabilities in 2026.

The correct target would ordinarily be assets legally belonging to the person against whom the monetary claim is asserted, not unrelated third-party property.

What If Company Assets Are Being Transferred to a Related Company?

Related-party transfers are a major warning sign.

Suppose the Turkish shareholder controls Company A together with the foreign investor but separately owns Company B.

Company A begins selling assets to Company B at unusually low prices.

The foreign investor should immediately investigate:

the transaction price,

corporate approvals,

relationship between the parties,

market value,

payment records,

and whether the transaction serves the company’s interests.

If an imminent transfer threatens irreparable harm, temporary judicial protection may need to be sought before registration or completion.

What If the Company Is About to Sell Its Only Factory?

This is a classic urgent-protection scenario.

The foreign shareholder should first determine whether management has authority to complete the transaction and whether any required corporate approval exists.

If the proposed sale is unlawful and would fundamentally undermine the value of the shareholder’s rights, an injunction preventing transfer may be considered.

Waiting until the factory is sold and proceeds are moved elsewhere can make litigation considerably more complex.

What If the Partner Is Transferring Money Abroad?

The foreign investor should preserve evidence immediately.

Bank records, payment instructions, invoices and beneficiary information should be identified.

If the funds remain in Turkey, interim relief may still be possible depending on the underlying claim.

If the funds have already reached another jurisdiction, separate foreign asset-protection proceedings may be necessary because Turkish interim measures do not generally operate as worldwide freezing orders.

Practical Example: 50–50 Shareholder Dispute

A foreign investor owns 50% of a company in Istanbul.

The Turkish shareholder controls daily management and attempts to sell company-owned real estate to another business controlled by a family member.

The foreign investor obtains evidence of the planned transfer and files a commercial action challenging the transaction.

An application for a preliminary injunction preventing transfer of the property may be considered because the disputed asset could otherwise leave the company before final judgment.

Practical Example: Partner Withdraws Company Cash

A foreign investor discovers repeated transfers from the company to the Turkish partner’s personal bank account.

The legal strategy may include obtaining company records, pursuing management liability and determining whether the company has a recoverable monetary claim against the partner.

If there is a valid monetary claim and a risk that the partner will dispose of personal assets, provisional attachment may be considered against assets legally belonging to that partner.

Practical Example: Shares Are About to Be Sold

A foreign investor claims that a proposed share transfer violates the shareholder agreement and the company’s constitutional documents.

If completion of the transfer would fundamentally alter control before the dispute is resolved, a targeted injunction concerning the disputed shares may be appropriate.

Practical Example: Company Bank Account Is Being Emptied

A Turkish managing shareholder begins transferring substantial company funds to unknown recipients immediately after the shareholders fall into dispute.

The foreign investor should not automatically request a blanket freeze of every account.

The better strategy may involve identifying the disputed transfers, obtaining accounting records, establishing the underlying legal claim and seeking the most proportionate temporary measure available.

Preliminary Injunction or Provisional Attachment?

The distinction can be summarized simply.

Preliminary injunction: generally protects the disputed property, right or legal situation.

Provisional attachment: generally secures collection of a monetary claim.

Using the wrong remedy can cause delay.

Before filing, the claimant should identify exactly what the final lawsuit will seek.

2026 Asset Protection Checklist for Foreign Shareholders

When a shareholder dispute becomes serious, the investor should quickly determine:

Which assets are at risk? → Who legally owns them? → Is the claim monetary or does it concern a specific asset or right? → Is there evidence of an imminent transfer? → Are bank, accounting and corporate records preserved? → Does the shareholder have information and inspection rights? → Is a preliminary injunction or provisional attachment more appropriate? → Is security likely to be required? → Are assets located in Turkey or abroad? → Has the principal lawsuit been prepared?

Frequently Asked Questions

1. Can a foreign shareholder freeze all company assets during a dispute?

Not automatically. The court must have a legal basis for the specific temporary measure requested, and the requested protection should ordinarily be proportionate to the underlying dispute.

2. Can company real estate be prevented from being sold?

Potentially, where the property is directly connected with the dispute and the conditions for a preliminary injunction are satisfied. Article 389 permits temporary protection where delay may make enforcement significantly difficult or cause serious harm.

3. Can company shares be frozen?

Potentially, especially where ownership or transfer of the shares is itself disputed.

4. Can a company’s bank account be frozen?

Possibly in appropriate cases, but a blanket freeze is not automatic. The court will examine the legal basis, proportionality and connection between the account and the underlying claim.

5. What is the difference between an injunction and provisional attachment?

A preliminary injunction generally protects a disputed right or asset. A provisional attachment generally protects collection of a monetary claim and is governed by Article 257 and following provisions of the Enforcement and Bankruptcy Law.

6. Can a provisional attachment be imposed on a partner’s personal assets?

Potentially, if that partner is personally the debtor of a qualifying monetary claim and the statutory conditions are satisfied.

7. Can a shareholder’s personal debt justify freezing company property?

Generally not merely because that person owns shares. Company assets and shareholder assets are legally separate.

8. Can a Turkish court freeze assets outside Turkey?

Not directly in the same way as domestic assets. Asset protection abroad generally requires relief from the courts of the jurisdiction where the assets are located.

9. Can emergency protection be requested before filing the main case?

Yes, in appropriate circumstances, but the claimant must comply with the statutory follow-up requirements for commencing the main proceedings.

10. What evidence is useful in an urgent shareholder dispute?

Bank statements, accounting records, proposed sale documents, corporate resolutions, title records, messages concerning transfers, share documents and evidence of earlier asset diversion can all be important.

Legal Assistance for Foreign Investors Seeking Asset Protection in Turkey

Foreign investors should react quickly where a shareholder dispute is accompanied by evidence that company assets are being sold, transferred, hidden, diverted or moved to related parties.

The correct legal remedy depends on the nature of the underlying right.

A preliminary injunction may protect a disputed asset, share or legal position where delay risks serious harm. A provisional attachment may secure a monetary claim against the assets of the relevant debtor. These remedies should not be confused, and neither operates as an automatic right to freeze an entire company.

Firat Fesih Kaya Law Office provides legal assistance to foreign shareholders and international investors in Ankara, Istanbul, Izmir, Mersin, Bursa and throughout Turkey concerning shareholder disputes, misuse of company assets, asset transfers, related-party transactions, preliminary injunctions, provisional attachments, director liability, shareholder deadlocks and recovery of diverted company funds.

Legal assistance may include identifying assets at risk, reviewing corporate authority, preserving bank and accounting evidence, requesting shareholder information, preparing urgent court applications, seeking restrictions on disputed asset transfers and coordinating principal commercial litigation.

Phone: +90 312 434 22 22
Mobile / WhatsApp: +90 532 769 22 22
Email: info@firatfesihkaya.av.tr
Office: Mevlana Boulevard No:221, Yildirim Tower, Balgat, Cankaya, Ankara, Turkey

The key 2026 principle is clear: foreign shareholders may seek urgent judicial protection when company or debtor assets are genuinely at risk, but the requested measure must match the underlying legal claim and the specific asset threatened by the dispute.