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NEWSLETTER 2013

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– Provisions determining special cases regarding the dismissal of a

shareholder from the company;

– Provisions governing dissolution on grounds other than those

specified under the TCC

It should also be noted that the

ultra vires

principle would no longer

be applied to the purpose and scope of company activities. Therefore, the

company is in principle not limited to the work and operations specified

in the articles of association.

Required Documentation

As per Article 586 of the TCC, the following documents must be

attached to the application:

– A notarized copy of the articles of association of the company;

– Founder’s declaration with its annexes; and

– The document indicating the persons authorized to represent the

company together with their addresses and the appointed auditor

Further, the following information shall be provided in the application:

– Names and surnames or titles, addresses and nationalities of the

shareholders;

– Shares in the capital subscribed by each shareholder and total

amount that they have undertaken;

– Names and surnames or titles of each managing director, whether

they are a shareholder or a third party;

– Representation method of the company

We would like to emphasize that even though the TCC provides a

general framework for the required documentation, the content and form

of the documents should be checked with the related trade registry

Within this framework, a detailed list with explanations (in Turkish) may be found on the

Istanbul Chamber of Commerce’s website for companies to be established in Istanbul:

sirketler.