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enterprises and commercial companies must be fulfilled. Furthermore,
all documents such as the company’s articles of association and required
declarations must be submitted to the relevant trade registry in Turkey for
the registration and must be notified.
Moving the Headquarters of Turkish Companies Abroad
Art. 12 of Code No. 6103 pertaining to the registration of Turkish
branches of commercial enterprises and commercial companies whose
headquarters are located abroad also regulates Turkish companies moving
their headquarters abroad.
Pursuant to the relevant article, a company residing in Turkey
(whose headquarters are established within Turkey) can move abroad
without being liquidated or being re-established in the country where it
will relocate. However, certain conditions listed in the abovementioned
article should be met. Such conditions are: having fulfilled the requisite
conditions under Turkish law, the ability to continue operations in the
relevant country in compliance with its legal system, providing proof that
the creditors of the Turkish company are informed through notification of
the address change, that the creditors are invited to pay their receivables
and that their receivables are paid and secured.
Art. 116 of the Trade Registry Regulation also regulates the relocating
of the headquarters of a company in Turkey abroad. This article specifies
the documents required necessary for moving the headquarters of the
company abroad.
Conclusion
The legislation regarding foreign companies’ freedom of settlement
in Turkey and also the freedom of Turkish companies to move their
headquarters abroad are briefly summarized above. The freedom and right
to settlement of companies abroad becomes a more significant matter that
requires detailed legal norms when the number of companies operating in
an international arena increases, and where global companies increasingly
appear. Developments in the globalized commercial and economic arenas
should be taken into consideration for the preparation of any legislation
regarding foreign companies’ freedom of settlement.