The Turkish Ministry of Customs and Trade has issued a Communiqué on Commercial Titles (“Communiqué”). The highlights of the Communiqué are as follows:
- Words indicating the field of activity and company type can be freely chosen, provided they are in Turkish language.
- The commercial title of the companies incorporated for the sole purpose of affiliation with a holding company shall bear the word “Holding”.
- The commercial title shall not contain any words contrary to public order, national interests and morals or words damaging cultural and historical values.
The latter can be criticized for imposing restrictions which are open to wide interpretation and therefore may lead to arbitrary application of the rule.
