"Joint stock companies" with the capital of TRY 250.000- and more are required to hire a lawyer under contract.
This provision shall be valid;
- with the acquire of the legal entity status of a joint stock company which have TRY 250.000- and more establishment capital;
- with the registration of the General Assembly on the capital increase to the trade registry which will have TRY 250.000- and more capital by capital increase.
In addition to this, the building cooperatives with 100 or more members are also required to retain a lawyer under contract.
An administrative fine may be objected to those who do not comply with the rules.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.