Turkey: New Commercial Code

A new commercial code goes into effect in Turkey on July 1, marking the first fundamental change in fifty years.  

Among the sweeping changes are a few of particular note to the HSP audience, including the introduction of a single shareholder joint-stock company and a single-member limited liability company, the use of financial reporting generally accepted in international markets (Turkey’s TAS is IFRS), audit in equity capital companies, regulations on late payments and a host of others.  

Please contact Dafydd Williams if you are interested in learning more about expansion in Turkey.