What is a Commercial Registry? How to Register a Commercial Registry?

What is a Commercial Registry? How to Register a Commercial Registry?

What is a Commercial Registry?

The commercial registry is a structure that must be registered by anyone who wants to establish a company. A person can only gain the title of merchant and start making profit if he/she has a commercial register. All necessary information and documents of the merchant are included in the registry. The purpose of this registration is to protect both the merchant himself and other companies he may work with. Thanks to the commercial registration number, it is possible to learn the legal status of the company and inform third parties.

How to Register a Commercial Registry?

Before the commercial registration of the company to be established, it should be determined whether the company will be a sole proprietorship or a capital company. In addition, the company’s articles of association, titles, NACE code, field of activity, capital information, address and management should also be finalized before registration. The most preferred capital companies are limited liability and joint stock companies as they have lower risks. The ways to be followed in order to register a commercial registry can be listed as follows:

1. Company articles of association should be prepared within MERSIS. This agreement should clearly include elements such as title, subject and purpose of activity, central address, capital shares, information of founding partners and management style.
2. The contract must be signed at the trade registry. This signature process can only be performed by the founding partner or persons authorized by proxy.
3. Once the agreement is in force, the partners must open an account at the bank where the capital must be deposited and deposit one fourth of the capital. A so-called ‘blockage letter’ is then obtained from the bank. This blockage disappears after the company is incorporated. Only joint stock companies are responsible for obtaining a blockage letter.
4. The financial advisor then deposits 0.04% of the budget in Halk Bank under the name of the Competition Authority fund.
5. The passport photos of the founding partners are taken to be affixed to the document called the chamber registration declaration.
6. Founding partners, managers or persons authorized by proxy sign the official documents prepared by the financial advisor.
7. The financial advisor applies to the Chamber of Commerce by taking signed documents such as the articles of association, registration request, petition, establishment notification form, chamber registration declaration, bank blockage letter and Competition Authority payment receipt. Prior to this application, the articles of association filled out through the MERSIS system must be reviewed and approved by the Chamber of Commerce. The application process can then be completed by making an appointment.
8. The Chamber of Commerce examines the documents for a certain period of time, if there are missing documents or documents that need to be changed, it creates a request, if not, it registers the company.
9. The financial advisor obtains a certificate of registration from the Chamber of Commerce that the company has been incorporated. On the other hand, companies are also required to have the books specified in the Turkish Commercial Code. These are the journal, general ledger, general ledger, inventory ledger, general assembly discussion ledger, board of directors’ decision ledger, shareholders’ share ledger and stamp tax ledger.
10. Finally, go to the notary again with the company partners, signature circular and financial advisory power of attorney are issued. The approval procedures of the documents are carried out within the Trade Registry.

How to Inquire Commercial Registry Record?

Every business has a commercial registry. Thanks to this registration, basic information such as the registration number, title and addresses of the companies intended to trade can be easily accessed. It can be said that the commercial register is the identity card of the company. This inquiry can be made through the Chamber of Commerce in the city where the company is affiliated. The inquiry can be made by entering the inquiry page on the website of the Chamber of Commerce of the province where the company is located.

What are the Commercial Registry Documents?

The documents required for commercial registration may vary depending on whether the company has a real person or a legal entity.

Documents required for natural persons:

1. Two signature declarations,
2. Photocopy of tax certificate,
3. A lease or similar document,
4. Photocopy of the notarized part of the commercial book,
5. Proof of residence,
6. Population registration sample,
7. Letter of commitment issued by the chamber of commerce,
8. Printed petition.

Documents required for legal entities:

1. A receipt stating that 4 out of 10,000 of the capital was deposited to the Trade Registry during the establishment phase as the Competition Authority share,
2. Signature declaration of company officials,
3. Letter of commitment issued by the chamber of commerce,
4. Printed petition.

What is included in the Trade Registry Registration Information Form?

There is some information that must be included in the form that must be submitted to the Trade Registry Office. These are

1. Trade name
2. Address,
3. The trade registry office where it is registered,
4. Trade registry number,
5. Date of incorporation of the company,
6. Field of activity and paid-in capital registered in the trade registry.

At the bottom of the form, there is a field to be filled in to ensure that the information is current and complete. The form is completed by adding the date, name, surname and signature to this field.

For more information, please visit our Company Incorporation Consultancy service page.