CE Partners

Streamlining corporate governance: updates to the Turkish commercial code

On 29 May 2024, several important changes to the Turkish Commercial Code ("TCC") have come into effect as part of an omnibus bill. These changes are poised to streamline corporate governance and compliance processes for businesses operating in Türkiye and include amendments to the election of the chairperson of the board of directors, share capital requirements, and appointment of representatives, all of which are designed to enhance operational efficiency and reduce bureaucratic red tape.