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Law related articles writen by lawyers
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Turkey’s Civil Offset Enthusiasm

  October 19, 2016     By Herdem Attorneys at Law
Most probably many people would not know more about where offset/industrial participation discussions were moving toward before the article titled “The defence industry: Guns and Sugar” has been published on The Economist’s 25 May 2013 dated issue.

Natural Gas Market in Light of the Menr’s Strategic Plan in Turkey

  September 1, 2016     By Ketenci & Ketenci
Ministry of Energy (“MENR”) published its Strategic Plan for 2015-2019 which has been designed as a strategic road map, by taking the global developments in the field of energy and natural resources into consideration and defining the sources owned by Turkey and its specific needs for determining the targets for meeting these needs in maximum level.

Sukuk (Islamic) Bond Issuance in Turkey

  September 1, 2016     By Ketenci & Ketenci
In this memorandum, the mechanics of Sukuk Issuance is broadly outlined and some key information is provided about the regulations on sukuk issuance in TR.

Canada Investor Immigration Program

  September 1, 2016     By Ketenci & Ketenci
Canada offers an “investor immigration program” for business entrepreneurs, self-employed person and investors coming from outside Canada who can substantially invest in Canadian economy and development which includes creating new jobs and businesses.

EB-6 Start Up Visa Proposal in Turkey

  September 1, 2016     By Ketenci & Ketenci
Under U.S. immigration law, temporary visas are considered to be ill-suited for entrepreneurs. Startups have been shown to be responsible for much of the net increase in employment in some recent years in USA. Therefore it is in the interest of policymakers to encourage entrepreneurs to start new businesses in the United States, by offering a startup visa.

The New International Labor Law and the Turquoise Card System in Turkey

  September 1, 2016     By Ketenci & Ketenci
With the increasing flow of FDI into Turkey in the past decade, the number of international employees have substantially escalated within the Turkish companies. In 2003, the government introduced the previous Law on the Foreigners’ Work Permit (No. 4817) in order to meet the needs of the market by allowing the employment of the foreign employees and to comply with the relevant international standards.

Recognition and Enforcement of Foreign Arbitral Awards in Turkey under the New York Convention

  August 22, 2016     By Cengiz & Opak Law Office
Although arbitration is considered as a reasonable form of alternative dispute resolution, foreign arbitral awards are subject to an enforcement procedure. In this sense, The New York Arbitration Convention on the Recognition and Enforcement of Foreign Arbitral Awards provides a simplified procedure for recognition and enforcement in the contracting states including Turkey.

How to Claim Refunds for Overcharged Import Taxes Due to Surveillance Certificate Requirements in Turkey

  July 27, 2016     By ADMD Law Office
Ministry of Economy determines certain minimum thresholds for certain products in order to force the exporters to pay higher taxes on the products in customs. Ministry determines the minimum value threshold per each kilogram of the imported product and sets forth that any exports into Turkey that does not meet this minimum value threshold shall be required to obtain a surveillance certificate. Based on new precedent, it is now possible to reclaim such overcharged tax and expenses.

Real Estate Acquisition by Foreign Real Persons and Foreign Companies in Turkey

Investment in real estate has always been one of the favorite choices for investors. According to Knight Frank Global Price Index Q4 2015 and Q1 2016 reports, Turkey leads global house growth with 18% and 15% in order. Furthermore, after the abolishment of the reciprocity principle in 2012, real estate acquisition in Turkey has been even more attractive to foreign investors.

Joint Stock Companies and Limited Liability Companies in Turkey

Provided here is general information regarding two primary types of limited liability entities that may be incorporated in Turkey.

Trademarks in Turkey

The procedures and principles regarding trademarks have been regulated in the Decree Law Regarding the Protection of the Trademarks (No. 556) (the “Decree Law”) and the Regulation on the Implementation of the Decree Law Regarding the Protection of Trademarks (the “Regulation”).

Company Types and Registration in Turkey

Brief information on main types of companies and the procedures of registration in Turkey for foreigners.

Real Estate Purchase by Foreigners in Turkey

The procedure and regulation concerning foreigners' acquisition of real estate in Turkey.

Note on Data Protection in Turkey

Please be informed that currently there is no specific regulation regarding the protection of personal data in Turkey and protection of personal data is regulated under various legislation. However, the Draft Code on the Protection of Personal Data (the "Draft Code") is recently approved by the Prime Minister of Turkey to be submitted to the Parliament.

Immigration Law: Residence and Work Permits for Foreigners in Turkey

It is significant for the foreigners to comply with the immigration laws while residing and working in Turkey. Below are the general principles and procedures regarding the residence and work permits for foreigners in Turkey.

Law No. 6333 Amendments Concerning the Employment Law in Turkey

The Law Regarding the Amendment of Income Tax Law and Certain Laws (Law No:6663) (the “New Law”) has been published on the Official Gazette on February 10, 2016. By the enforcement of the New Law in addition to the Income Tax Law (Law No: 193), certain laws such as Public Officers Law (Law No: 657), Unemployment Insurance Law (Law No: 4447), the Labour Code (Law No: 4857) and the Social Security Law (Law No: 5510) have been amended.

Reinsurance & Reinsurance Investments by International Companies in Turkey

The laws and regulations governing the insurance and reinsurance practices in Turkey are quite complex, This brief aims to inform readers on general reinsurance regulations in Turkey and tries to shed light to the reinsurance business by international insurance providers in Turkey.

Turkish Zoning Law

A country shall have regular human settlements and certain bordered zones, in order to provide a healthy environment and create feasible investment areas. For the purposes of meeting with the needs of the number of population in a rapid way, lands of the country should be planned and developed within the frame of specified master projects.

Legal Aspects of Real Estate Purchase of Foreign-Capital Companies in Turkey

Due to Turkey’s rapidly financial growth and increasing population, real estate market has been developing for last five years.

Wind Power in Turkey

Due to the increasing energy gap arising from industrial and technological developments of Turkey, the demand on electric energy has been increasing year for year and new investments in power generation are required.

Solar Power Tenders in Turkey

Establishment of solar powers with a view to operating in electricity market is regulated in Electricity Market Code (the “Code”) law no. 6446.

Solar Power Plants in Turkey

Numerous countries have been in an energy transition in recent years due to the decreasing capacity of primary energy resources such as natural gas, oil and coal and also in order to contribute to the prevention of climatic changes arising from the use of primary energy resources. In this connection, the importance of energy production from renewable resources has come into question also in Turkey.

Recognition of Foreign Judgements in Turkey

According to Turkish Private International Law (“Law”), a foreign judgments may be executed. The execution of the judgments in Turkey rendered by the foreign courts in relation to the civil actions and finalized in accordance with the laws of that state depends upon the rendering of the exequatur by the competent Turkish court.

Real Estate Market in Turkey

No doubt the global economic recession and crisis have affected the European and US real estate markets. On the other hand, the real estate markets in emerging markets like Turkey are still promising despite the global crisis. In last decade, international real estate market has significantly developed in Turkey. Accordingly, the interest of local and foreign investors in the real estate market progressively increased every year.

Mergers and Acquisitions in Turkey

Mergers and Acquisitions (“M&A”) is defined as the combining of two or more companies or buying-selling or dividing of two or more companies as a part of corporate finance in order to grow rapidly in business field of activity.

Termination of Distribution Agreements under Turkish Law

In international or local trade relations, termination of distribution agreements especially by manufacturers come frequently to the fore.

Distribution Agreements in Turkish Law

Due to developments particularly in telecommunication technologies and transport since last century, more products have been demanded by customers in other countries than their place of manufacture.

Latest Developments in Banking Finance in Turkey

The New Communiqué on the Principles Regarding Securities Investment Trusts has been published in the Official Gazette numbered 29368 (hereinafter referred as to “Communiqué”) on 27 May 2015.

Debt Collection in Turkey

Under Turkish Law, a creditor is granted the right to collect its receivable in two ways. Firstly, it can initiate litigation procedures by filing an action of debt before local courts. The other way is to initiate executive enforcement proceedings (enforcement proceedings without judgement) before execution offices.

Incorporation of Investment Enterprises in Turkey

Investment companies or funds within the frame of the Capital Markets Law.

Renewable Energy in Turkey

Energy Market Preferred by Foreign Investors Also in 2015

Franchising in Turkey

Franchise sector in Turkey has been in a rapid growth in the recent years. As of 2014, there were approximately 1850 chain of enterprises in Turkey, 24% of which are foreign trademarks and the number of foreign investors intending to franchise in Turkey has been increasing year by year.

Recent Legal Amendments on Real Estate Acquisitions by Foreigners in Turkey

Some significant amendments for real-estate acquisitions by foreigners introduced by a new Law. The most notable amendment in the Law is abolishment of the reciprocity clause. As a result, a foreigner may acquire a real-estate in Turkey even if a Turkish citizen may not acquire a real-estate in the foreigner’s home country.

Validity of Foreign Court Decisions in Turkey

Increase in international trade, people living abroad for various reasons and the disappearance of borders by time has resulted that the legal relationships and disputes not confined in one country or state. This situation has highlighted the difference between the national legal systems.

Acquisition of Turkish Citizenship by Marriage

Acquisition of Turkish citizenship by marriage is regulated in Article 16 of Turkish Citizenship Law and Articles 25-31 of the Regulation on the Implementation of Turkish Citizenship Law.

Immediate Expropriation in Turkish Law

The expropriation procedure in Turkish law is conducted in accordance with Article 46 of the Constitution and Law No.2942 on Expropriation. In exceptional cases where there is a danger of disruption in public services, the method of immediate expropriation stipulated in Article 27 is employed.

Establishment of Joint Stock Companies and Limited Liability Companies in the New Turkish Commercial Code

The new Turkish Commercial Code (“NTCC”) No. 6102 entered into force on July 01, 2012. In parallel with the harmonization process of Turkish Law with acquis communautaire, the NTCC has significantly changed the system and replaced the outdated provisions of the former Turkish Commercial Code (“TCC”) with practical ones. As one of the aims of the NTCC is to boost investment, advanced provisions regarding the establishment of the companies have been introduced.

Residence Permit in Turkey

The regulations formulating the rules on residence permit and the entry of foreigners into Turkey were dated back to mid-twentieth century. These regulations lacked the ability to meet the needs of the present conditions. A modern approach was necessary, also in terms of Europeanization of the customs procedures and management.

General Principles of Licensing in Turkish Natural Gas Market

The general principles setting out the legal requirements for licensing are defined under Law No 4646 of Turkey. Accordingly, the entities to engage in market activities shall obtain a license for each activity and for each facility respectively, if the said activities are to be conducted in more than one facility, before starting operation.

Spotlight: Concerns about Constitutionality of Turkey’s New IP/O Regime in Civil Industrial Sectors

On 06 February 2014, Turkish Parliament has enacted a 6518 Omnibus Bill, gazetted February 19th 2014, which adjoins a provision to article 3 of the Law No 4734 Public Procurement Law (“Law”) stipulating that purchase of goods and services provided to ensure innovation, local production and technology transfer under offset/industrial participation programs are not subject to Law No 4734.

Introduction to Jurisdiction of Divorce in Turkey

Divorce principles in Turkish Law related to divorce. Enforcement of a Foreign Divorce Decree in Turkey requires some standards.

Turkey's Connection to ENTSO-E and T-CAT Auction Systems

ENTSO-E is a very essential step for uniting the EU Member States’ transmission grids. To define it briefly, it is the biggest Transmission System Operator throughout Europe. The ENTSO-E association has been established with the 3rd liberalization package in the light of the EU legislations.

Acquisition of Real Estate in Turkey by Foreign Individuals

Every country has its own legislation regarding acquisition of real estate by foreign individuals within the scope of its own political, economical and social requirements. Acquisition of real property by foreign real persons in Turkey is restricted by laws as well. The main purpose of this brief article is to explore the legal restrictions of purchasing real estate in Turkey by foreign individuals.

Tax Incentives in Turkey

Turkey aims to encourage production and export activities, fasten the entrance of foreign capital and technology in Turkey and develop the international trading activities through the grant of incentives to the investors. In the light of that, the local and foreign investors have equal access to the investment incentives system in Turkey.

Share Transfers in Joint Stock Companies in Turkey

In order to complete a share transfer in a Joint Stock Company registered in Turkey, the endorsement and transfer of share certificates (in the bearer form) are required. If the company has not issued any share certificates, the transfer of the shares shall be completed within the share ledger of the company.

Squeeze Out Right in Turkey

In Turkey, where shareholders directly or indirectly own and hold at least 90 % of capital shares and voting rights in a capital company, the controlling shareholders may apply to the court for the squeeze out of the minority shareholder(s), if the minority shareholder(s) prevents the company from running its business, do not act in good faith, create perceptible disruption or act in a reckless manner.

Liabilities of Shareholders and Board members for Public Receivables in Turkey

In Turkey, the liability of Joint Stock and Limited Liability Companies’ shareholders is only against the company and limited with their capital contribution. However, the shareholders of Limited Liability Companies are, unlike Joint Stock Companies, jointly and severally liable against public receivables (fiscal receivables) such as taxes, duties, levies and charges if the company is unable to make the required payments.

Overview of Turkish Labour Code and Employment in Turkey

Employment laws in Turkey apply to Turkish nationals and foreign nationals alike. In addition, special provisions exist which regulate the employment and residence permits of foreign nationals who intend to work in Turkey.

Opening Liaison Offices in Turkey

In addition to the establishing a company or a branch office, foreign investors can also establish liaison offices in Turkey. Liaison offices can only be involved with non-commercial activities. In other words, liaison offices cannot issue invoice or proforma invoices.

Opening the Branch of a Foreign Corporation in Turkey

Foreign companies may also operate through branches in Turkey. For establishing a branch, a permit from the Undersecretariat of Treasury Foreign Investment Department (FID) must be obtained before the registration to the Commercial Registry Office.

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