COMPANY LAW IN TURKEY
The New Turkish Commercial Code has enterred into force in 2012.
The main goal is to develop a corporate governance approach that meets international standards.
The shareholding structure has changed radically. Thus, the new legislation allows a sole person to incorporate a company with only one shareholder.
Another radical change is related to the management of companies. Legal entities may be member of the board and in limited companies, at least one shareholder shall be the legal manager of the company.
The new legislation does not require anymore physical presence of board members; it allows board meetings to be held in an electronic environment and board resolutions may also be approved via electronic signatures. To do so, the companies shall amend their articles of association.
Our law firm in istanbul provide corporate governance services to comply with those changes.
