Changes Introduced to the Company Incorporation Procedure

I. Introduction

A new communiqué of the Ministry of Customs and Trade, namely the Communiqué on Signing of Company's Articles of Association before Trade Registry Directorates ("Communiqué"), has been published in the Official Gazette on December 6, 2016, and entered into force as of its publication date.

The Communiqué regulates the procedures and principles relating to the signing of articles of association and signature declarations^[1] before trade registry directorates during the incorporation of a company.

II. The Novelties Introduced by the Communiqué

Before the Communiqué, articles of association prepared through the Turkish Central Registration System ("MERSIS") and signature declarations could be signed only before notary publics. Trade registry directorates were not authorized to approve the execution of these documents.