Lawyer in Turkey: New Turkish Trade Law: Website content

Thursday, July 5, 2012

New Turkish Trade Law: Website content

As per 1 July 2012 the new Turkish business law has been effective. For 50 years the old business law is being used and finally this law has been changed. With this new law there are some useful changes made that will be in benefit of international companies and the Turkish businessman.

In our article of March 8, 2012 we already summarized the most important changes that has been published in this new law.
In this article we will discuss the obliged business website. According to this new business law companies and firms are obligated to set up a business website in which they publish their company name and company information. The website must at least content information about (article 1524):
  1. All necessary documents and publications that must be openly published, such as the official name of the company that must be registered by the Chamber of Commerce, registration data at the Chamber of Commerce, Address of the head office and the capital of the company;
  2. All documents that are necessary for the shareholders of the company, so that they can represent themselves when necessary and that they are informed about their rights etc;
  3. All rights of the shareholders and managers with regard to discharge, dividing shares, sale of shares etc;
  4. Financial results;
  5. All matters about potential selling of the company, to join a joint venture and the transfer of shares in this matter, capital increasing and all related matters;
All web pages has to be freely accessible. Financial information, reports and financial control reports has to be published for at least 5 years. 

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