The New Turkish Commercial Code that entered into effect on 01.07.2012 and 01.01.2013 obliges a company to keep the public informed in the interest of transparency, while also adopting corporate management principles.
Under the new regulations, the management board of a company assumes additional responsibilities.
Furthermore, new regulations have been brought in regarding the conducting of independent audits and the organization and principles to be followed in accounting records. The Law obliges both public and non-public companies in the size specified by the Law (the Law transfers the right to define the size to the Turkish Ministry of Industry and Trade, taking the opinions of the Turkish Union of Chambers and Commodity Exchanges and the Turkish Accounting Standards Board) to apply Turkish Accounting Standards in line with the International Financial Reporting Standards (IFRS) issued by Turkish Accounting Standards Board (TASB) in matters related to accounting and financial reporting, so as to ensure financial structures are operated with transparency and consistency.
In this sense, companies are in need of restructuring.
Rather than leaving this restructuring to the last moment, companies should determine a road map and start restructuring right now.
HOW CAN CONSULTA HELP YOU?
PROVIDING CONSULTANCY TO COMPANIES IN THEIR RESTRUCTURING AND ADAPTATION TO THE NEW TURKISH COMMERCIAL CODE
CONSULTATION TO COMPANIES REGARDING ESTABLISHMENT AND ORGANIZATION
Consultancy related to the establishment of Joint Stock or Limited Companies within the framework of the Turkish Commercial Code and the relevant laws
Consultancy regarding the changes that will arise as a result of the New Turkish Commercial Code
Consultancy regarding the impacts of the Partnership and Cooperative Law, Commercial Code and Foreign Capital Law on company establishment and management procedures
Preparation of Articles of Incorporation or adapting such Articles in the event of changes in the company
Regulating, changing Shareholder Contracts, Partnership Contracts, Corporation Bylaws
Regulating capital increase/decrease contracts
Organizing and executing Board and Shareholder Meetings
Consultancy regarding Company Obligations, Minority Rights and Shareholder Rights arising from the respective laws
Consultancy related to the responsibilities and obligations of the Board members and Managers
Notification and presentation of company applications and transactions to official bodies
Consultancy and research into the operation and management of various Legal Entities
Conducting tax-related researches for the company and partners
Consultancy related to the relationships, memberships and registrations of companies, partnerships and other legal entities in the Trade Register, Trade/Industry Chambers and other respective organizations
CONSULTANCY IN CORPORATE ISSUES
Taking over company management
CONSULTANCY TO INTERNATIONAL COMPANIES REGARDING ESTABLISHMENT AND MANAGEMENT
Merger & Acquisition
CONSULTANCY REGARDING COMPANY MANAGEMENT AND OPERATIONS
Company Rules of Conduct
Family/Company Vision and Values
Consultancy for the preparation of a legal and managerial framework that will facilitate a relationship between parties
ORIENTATION SERVICES TO FOREIGN MANAGERS
Orientation in Turkish Legislation related to Foreign Investors and International Companies
Orientation in the Turkish Commercial Code
Orientation in the Foreign Capital Law
Orientation in Work Permits for Foreigners
Orientation in the Labour Law
Orientation in the Purchase and Sale Law
Orientation in the Tax Law
Orientation in the Law on the Protection of Consumer Rights
Orientation in the Law of Commercial Papers
Orientation in legislation related to the main lines of business of the company