The following amendments have been made under Turkish Commercial Code numbered 6102 and dated 13 January 2011(“Law”).

Under article 40 titled “Registration” of the Law, it was regulated that the trade name to be used by merchants and authorized signatories of legal entities and their signatures to be placed under such trade name, must be submitted to the trade registry directorate after the title name and the related  signatures have been notarized.

With the amendment published on the Official Gazette dated 3 February 2021, if the signature of real person merchants and authorized signatories of legal entities are in the database of public institutions and organizations, the signature data of these persons will be obtained electronically and recorded in the registry file in the central common database. If there no signature records in the databases of public institutions and organizations, the procedures and principles of submitting signature declarations of authorized signatories to the trade registry directorate, will be determined by the communique to be issued by the Ministry of Trade.

With the third paragraph added to article 373 titled “Registration and Announcement” of Law, the trade registry records of authorized signatories registered to trade registry and their authority, shall be taken into consideration by public institutions and organizations. These public institutions and organizations will not be able to request any documents from companies other than the documents issued by the Trade Registry Directorate and announcements published on Turkish Trade Registry Gazette.

The amendments entered into force on the publication date of the Official Gazette.

[1] The relevant amendment was made with the Law on Amendments to Technology Development Zones Law and Certain Law published on the Official Gazette dated 3 February 2021 numbered 31384.