How d d Turkey make do ng bus ness eas er?

Dunya Executive - - COMMENTARY -

►Turkey made start ng a bus ness eas er by remov ng the pa d- n m n mum cap tal requ rement and by el m nat ng the notar zat on of company documents and legal books.

►Turkey ncreased the transparency of ts bu ld ng regulat ons by publ sh ng onl ne all pre-appl cat on requ rements needed to obta n a construct on perm t. It also strengthened construct on qual ty control by mpos ng str cter qual f cat on requ rements for profess onals n charge of approv ng arch tectural plans.

►Turkey strengthened access to cred t by extend ng the secur ty nterest to products, proceeds and replacements of the or g nal collateral. Secured cred tors are now g ven absolute pr or ty over other cla ms, such as labor and tax, both outs de and w th n bankruptcy proceed ngs. Turkey also mproved access to cred t nformat on by report ng data on arrears from telecommun cat ons compan es. ►Turkey made pay ng taxes eas er by mprov ng the onl ne portal for f l ng and payment of taxes. ►Turkey reduced the t me and cost to export and mport through var ous n t at ves, nclud ng expand ng the funct onal t es of the nat onal trade s ngle w ndow, enhanc ng the r sk management system and lower ng customs brokers’ fees.

►Turkey made enforc ng contracts eas er by publ sh ng judgments rendered at all levels n commerc al cases and by ntroduc ng f nanc al ncent ves for med at on.

►Turkey made resolv ng nsolvency eas er by ntroduc ng the poss b l ty to obta n post-commencement cred t, mprov ng vot ng arrangements n reorgan zat on and grant ng cred tors greater part c pat on n the proceed ngs.

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