You may find the brief memorandum below which explains the legal status of incorporating a joint stock company by way of conversion from a limited liable company in the system of the Turkish Commercial Code (“the TCC”) and the procedure if such conversion is to be resolved.
Signature Circular is an official document signed before the Notary in which signature powers of the Company and its branches are determined and the limitations of such powers are detailed. In practice, signature circular is mostly requested by public authorities, banks and third parties in which the Company is represented. Scope and degree of the Company representatives’ signature powers are determined in the signature circular. In case third parties other than the individuals listed outside the Board Members/Limited Liability Company partners are vested with the power of authorization, the limitation of the transactions and the level of authorization of such individuals are determined.
AGAOGLU MASLAK1453
Maslak Mah. Tas Yoncası Sok.
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Sariyer Istanbul – Turkey
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info@barlaslaw.com
