“The Law Amending Certain Laws in order to Enhance Investment Environment” has been published 15 March 2018
The Law Amending Certain Laws in order to Enhance Investment Environment numbered 7099 (“Law”) amending several codes including Turkish Commercial Code has been published in the Official Gazette dated 10.03.2018 and numbered 30356.
One of the major changes adopted by the Law is that the obligation to pay ¼ of the pledged capital in cash before the registration to trade registry during the establishment of a company with limited liability has been removed, since the mentioned capital could be paid within twenty four months as of the date of registration of the company.
In addition to this, some important changes regarding the duties of the registry of commerce have been made, as the book approval of joint stock companies and limited liability companies during establishment shall be made by the registry of commerce; and the signatures of the founders must be appended in registry of commerce, before the authorized personnel which was done before notary before.
