Seeking to satisfy its hunger for foreign investment and research/development projects, Turkey made a new step further to minimize the costs of company establishment process.
The notarization requirement -for the articles of association and signature declaration of the founders- has always been a major cost item. Such conditions have also been slowing down the incorporation process.
With the new regulation (published at the Official Gazette dated 6 December 2016, no: 29910) effective as of December 6th, 2016; the articles of association and signature declarations shall be signed before the Trade Registry Offices, instead of public notary offices.
Within 3 months from the signing of the articles of association, the founders of the new company shall file the documents before the Trade Registry.
