Union of Chambers and Commodity Exchanges of Turkey

TOBB Secretary General Mustafa Saraçöz, in his opening speech for the meeting, stated that important legislative regulations had been passed in 2016 and that the amendments to enable company agreements to be signed witnessed trade registrar or their assistants were among the amendments which took effect.

Saraçöz stated that the regulation on limiting the trade registry service fee being limited to 10% of minimum wage has also been published in the Turkey Trade Registry Gazette. Saraçöz reported that the Regulation for 15% discount to the corporate establishment fees has been published in the Turkish Trade Registry Gazette entered into effect and that fee exemptions for approvals of bookkeeping and share transfers have been introduced.

Stating that international competition continues without slowing down, Mustafa Saraçöz said, “What will happen if reforms do not last and improvements are not made? Investments shift to countries that implement these reforms. If entrepreneurs are burdened with excessive costs and unnecessary procedures, we will lose potential entrepreneurs.”

Saraçöz said that they are aiming to reduce the number of procedures from 8 to 3 and to reduce the transaction time from 7.5 days to 2.5 days and to cut the costs by 45%, thereby increasing Turkey’s rank from 94^th to 14^th in the World Bank Doing Business Survey.

Mustafa Saraçoz stated that they are working on the Fee Tracking System (HTS) software as TOBB; that HTS is designed to integrate with MERSİS in order not to place additional burden on trade registry and that a trial has been ongoing at Muğla CCI since December 1^st and is continuing smoothly.

Following the opening speech, information was provided about the arrangements related to Fee Collection, Information and Payment, Company Establishment and Liquidation Procedures and the Fee Tracking System.