Update on Company Formations in Turkey
The Communiqué Amending the Communiqué on the Signing of the Company Establishment Agreement in the Trade Registry Office (the “Amending Communiqué”) was published in the Official Gazette No. 31193 dated 22.07.2020. The Amending Communique brings important changes to the provisions of the Communiqué on the Signing of the Company Establishment Agreement in the Trade Registry Office (the “Communiqué”) regarding the procedure for submission of signature declarations by signatories located in foreign countries which was published on the Official Gazette No. 29910 dated 06.12.2016.
According to the Article 13/6 of the Communiqué, the signature declaration of the signatories authorized located in foreign countries could be issued by the Turkish Consulate in the relevant country by way of approval of the signature.
Having amended the Article 13/6 of the Communiqué, the Amending Communiqué provides that the signature declaration of the signatories authorized located in foreign countries could be issued by the Turkish Consulate or the competent authorities within the relevant jurisdiction. However, in such a scenario the Amending Communiqué imposes new obligations on the signatories located in foreign countries to have their signature declarations issued by the Turkish Consulate or the relevant foreign authorities in accordance with the provisions of the Hague Convention for the Abolition of the Certification of Foreign Official Documents dated 1961 and to submit the notarised Turkish translations of these signature declarations to the Trade Registry Office. This amendment eases submission of signature declarations from foreign countries and particularly enables a faster implementation of this kind of processes within signatory countries of Hague Convention dated 1961.
@ Sena Güngördü | Kesikli Law Firm