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The Procurement Principles in Turkish Defense Industry

  September 16, 2014     By Herdem Attorneys at Law
In Turkey, many of the governmental authorities shall apply to procurement of goods, services or works under Public Procurement Law #4734 (PPL). In the same manner, the contracts in public purchase of goods, services and works refer to this law’s “contract principles” indicated in the Public Procurement Contract Law (#4735) (PPCL). But it had better to lay emphasis on an exception for defense issues under law#4734.

New Directive on Aircraft Nationality and Registration Marks in Turkey

  September 14, 2014     By Herdem Attorneys at Law
Directorate General of Civil Aviation the regulatory body of civil aviation in Turkey, has promulgated a new Directive on aircraft nationality and registration marks on 12 September 2014 aiming to meet the requirements of Annex-7 of ICAO that will be applied to all existing registered or future registered aircrafts on DGCA registry.

Offshore Banking in Turkey

  September 14, 2014     By Herdem Attorneys at Law
The turning point for regulating the market dates back to 2001 for Turkish banking industry after a major banking crisis in Turkey.

Turkish Defense Industry: A Step Towards a Nation-Oriented Production

  September 8, 2014     By Herdem Attorneys at Law
A nation has six major elements of its nation-oriented power that are based on politics, economy, psycho-social issues, military capability, manpower and the geostrategic location. These bring more flexibility in countries’ regional strategy and add value for superiority in its region.

A Touchstone in Energy Financing: Reduced Yield and Turkish Insurance Market

  September 1, 2014     By Herdem Attorneys at Law
The effect of climate change is not only an environmental problem today as it directly relates to the resource based industries. In today’s world, the scientific assessments lead the players of energy to reflect on their project viability. In direct proportion to the growth in financing renewable projects, insurance companies and underwriters are also expected to formulate their risk assessments on resource-oriented allocation models.

New Regulation for the Turkish Banking Industry: Towards a Healthy Synthesis

  August 28, 2014     By Herdem Attorneys at Law
Turkish banking industry is considered one of the strongest in Europe. The crisis ridden global banking industry had experienced numerous difficulties following the 2008 market collapse, but Turkish banking industry had survived the crisis with relatively insignificant scars.

What will TTIP Bring for Turkey: Legal and Trade Related Issues

  August 27, 2014     By Herdem Attorneys at Law
Known by its acronym TTIP, Transatlantic Trade and Investment Partnership has the capacity to serve as a game changer in global economic balances. At its core TTIP is a free trade agreement between the United States and the European Union with the underlying objective to increase bilateral trade among two economic blocks by the removal of tariff and non tariff based obstacles before the Transatlantic trade.

Tariff and the Non-Tariff Based Renewable Energy Incentives in Turkey

  August 21, 2014     By Herdem Attorneys at Law
Turkey is one of the fastest growing economies among the emerging markets. Its 4% average growth rate throughout the last decade catapulted her in to a class of its own among the MENA region.

Electricity Prices in Turkey and the Market Liberalization

  August 20, 2014     By Herdem Attorneys at Law
The recent growth of the Turkish economy that had sprawled to the entire last decade gave birth to a new phenomenon of energy price hikes. The country’s growing appetite for ever more energy supplies necessitates a coordinated action on the part of the regulatory authorities to make the energy prices to stay in a stable and predictable course.

How Can Turkish Banking Cope with the Changing Global Banking Dynamics?

  August 12, 2014     By Herdem Attorneys at Law
The 2008 global economic meltdown had served as an important wake up call for the global banking industry. The complicated web of interrelated financial instruments created by investment banking gurus, accompanied by a lax regulatory regime came to create one of the biggest financial disasters after the Great Depression and itself termed by many as the Great Recession costing millions of people their savings, jobs and houses.

American Defense Industry: Does the Legal Regime Hamstring the Business?

  August 8, 2014     By Herdem Attorneys at Law
The United States is still by far the leading country in defense spending, allocating a sizable portion of its GDP to produce cutting edge military technologies. However, recent reports indicate a decline in American exports in military hardware.

TTIP: The Issue of Investor to State Dispute Settlements

  August 5, 2014     By Herdem Attorneys at Law
The benefits that will the TTIP bring to the table for both of the signatories across the Atlantic are well documented by the Atlantic Community. Generation of a volume trade that amounts a USD$ 1.2 billion and the expansion of the already existing transatlantic trade accompanied by the removal of non-tariff barriers as well as cheaper prices for the consumers and common standards for the producers that would give leeway for them in fierce global competition by declining production costs.

Bright Future of Solar Power Market in Turkey

  July 23, 2014     By Herdem Attorneys at Law
In recent years, renewable energy market development became primary energy strategy of Turkish government with the intention of improving energy efficiency and decreasing energy import dependency. Particularly, solar power seems as fundamental resource of electricity generation in the near future. In terms of insolation Turkey possesses high potential among European countries.

Transatlantic Trade and Investment Partnership: How should Turkey Cope with the Changing Dynamics?

  July 22, 2014     By Herdem Attorneys at Law
The free trade agreement, known with its acronym TTIP, currently being negotiated between the United States and the European Union is expected to have immense legal implications as well as commercial ones for the signatories.

Integration of US and Europe Energy Markets: TTIP and Global Energy Trading Projection

  July 22, 2014     By Herdem Attorneys at Law
Shale gas revolution has been driving US energy market by increasing economic and industrial competitiveness. Today, shale gas has gained acceptance as “bonanza” which triggered slump in gas prices and sparked off widening the energy gap between US and Europe.

Strong Regulatory Base of the Turkish Banking Sector Amid Mixed Signals

  July 17, 2014     By Herdem Attorneys at Law
Mixed signals are recently coming from the Turkish Banking sector. The industry, on the one hand, has recently seen an unprecedented levels of volume which is estimated to be USD$ 855 billion to dwarf the economic might of 22 of the 28 EU member states and on the other hand has been witnessing a reduction in the credit volume that went down to 1.130 trillion Turkish liras as of the July 2014.

Civil Aviation in Turkey: A Fine Balance Between Growth and Regulatory Tendencies

  July 14, 2014     By Herdem Attorneys at Law
Global civil aviation industry is expected to register a 5% passenger growth for the next two decades. The growth in the industry is mainly generated by the growing number of passengers in Asia and the Middle East.

Establishing Business in Turkey

  July 14, 2014     By Ozturk & Partners Law Office
The New Turkish Commercial Code numbered 6102, published in the Official Gazzette on February 14,2011 came into effect on July 1, 2012.

US Aviation and Defense Industry: Simultaneous Growth and Decline

  July 10, 2014     By Herdem Attorneys at Law
The American aerospace and defense industries have recently found themselves in an odd situation of simultaneous growth and decline. To be more precise the non defense related component of the industry; the civilian aviation industries are bent on a course of growth, however the other component of the industry; the defense related aerospace industry is in decline.

Liability of the Shareholder for Public Debts under Turkish Law

  July 5, 2014     By E&G International Law Firm
Tax Liability in Joint Stock (“Anonim Şirket”) Companies As it has been known, administration and representation of joint stock companies are carried out by board of directors of the company.

Prospective Pitfalls in the TTIP

  July 3, 2014     By Herdem Attorneys at Law
The United States and the European Union are readying themselves to celebrate the formation of the biggest single market to date which is expected to ease trade barriers across the Atlantic and increase the volume of bilateral trade between these two economic blocks.

Legal Implications of Transatlantic Trade and Investment Partnership

  July 2, 2014     By Herdem Attorneys at Law
European Union and the United States are currently negotiating the biggest free trade agreement in history. If concluded the new agreement will create a free trade zone that will include more than 800 million inhabitants as consumers and together with the United States will consist of 29 substantial economies that can muster the 37 % of the total world economic out put.

Is Nuclear Power Safe Enough? : Operational Risk Mitigation Procedures

  July 1, 2014     By Herdem Attorneys at Law
Electric power is the most significant power source for industry, modern and prosperous life, and science and technological progress. Over the years energy experts have been working to produce electricity in harmony with both environment and human health.

U.S Defense Industry: The Issue of Re-Export to the Third Countries

  June 26, 2014     By Herdem Attorneys at Law
One of the most intricate aspects of the United States' export regime that regulates the export of defense related items is the issue of re-export of the U.S defense items to the third countries. Since the issue has beyond commercial ramifications related with national security, it has been one of the most strictly regulated areas of the U.S export regime.

Protection of Energy Investments in Turkey: Two Significant Cases

  June 26, 2014     By Herdem Attorneys at Law
There are several multilateral investment treaties and conventions which aim to protect foreign investment such as International Centre of Settlement of Disputes (ICSID) , the North American Free Trade Agreement (NAFTA) , Association of Southeast Asian Nations (ASEAN) , and Common Market for Eastern and Southern Africa (COMESA) .

Transatlantic Trade and Investment Partnership and The American Defense Industry

  June 19, 2014     By Herdem Attorneys at Law
TTIP, the free trade agreement that is currently being negotiated between the United States and the European Union, if successfully concluded by both parties will create the single most important common market in the world where more than one third of the world economic output is already being produced in these two sovereign blocks.

Developing Photovoltaic Power Plant in Turkey

  June 19, 2014     By Guden Law Firm
According to the decision of Energy Market Regulatory Authority (EPDK) on 24 May 2012, EPDK is planning to accept photovoltaic power plant licence for total installed capacity of 600MW for production capacity by June 2013.

Setting Up a Company in Turkey

  June 19, 2014     By Guden Law Firm
It is true say that company incorporation process in Turkey is relaxed following implementation of new Turkish Commercial Code. However, in terms of time, with it is length process Turkey is still well behind from most of the European countries

US Defense Industry: The Impact of ITAR for the Business

  June 13, 2014     By Herdem Attorneys at Law
International Traffic in Arms Regulations (ITAR) is one of the key components of the United States‘ export regime regulating the defense related items and the items that have dual use features.

U.S Defense Industry: The Overwhelming Importance of the Export Regime

  June 12, 2014     By Herdem Attorneys at Law
Since its inception in 1919 the American Defense industry has been one of the key industries of the United States where stringent regulations have been in place given the critical nature of the industry for the national security.

Turkish Energy Market Compliance: Lacunae In Turkish Natural Gas Law

  June 12, 2014     By Herdem Attorneys at Law
In recent years, several natural gas pipeline projects and natural gas import opportunities have come to the force in Turkey. After completion of the pipeline project TANAP, which is regarded as the biggest natural gas pipeline project investment in Turkey, approximately 6 bcm of natural gas of 16 bcm will be purchased by Turkey and 10 bcm of this quantity will be exported to Europe.

TTIP: Who Will Benefit from Better Compliance and Trade Dispute Resolution?

  June 9, 2014     By Herdem Attorneys at Law
The economic relations between European Union and the United States have been far from smooth. Even during the Cold War, when the two economic powers were supposed to be on the same side of the Cold War divide, rows occurred that led to a serious political tensions.

Can Shareholders in Turkey Borrow From Their Company?

  June 9, 2014     By Herdem Attorneys at Law
Majority of companies in Turkey are family owned companies as their equivalents around the world. It is predicted that over 70 % of companies are family owned companies in the world. Family owned companies differ from other companies by their policies and management. Mostly, in family owned companies “the boss” (mostly the founding partner of the company) takes over whole management of the company and wants to carry out all business by his hand even daily products purchase and expenses.

General Aspects of Corporate Structuring in a Regulated Market: Pharma in Turkey

  June 9, 2014     By Herdem Attorneys at Law
Pharmaceutical Industry is one of the most critical industries with its production volume and trade capacity. The point that differs pharmaceutical sector from other sectors is the nature of pharmaceutical products that are not suitable for replacement for many reasons. Due to the dynamics of the pharmaceutical industry, it is one of the most significant and crucial sectors in the world, considering the cyclical trends will be in the future.

Game Changer Discovery: Leviathan Gas Field And Turkey’s Energy Projection

  June 5, 2014     By Herdem Attorneys at Law
Current gas field discoveries covering Leviathan and Tamar gas fields induced Israel to scrutinize applied energy strategies in Mediterranean Sea. In the light of these regional developments Israel‘s imported natural gas dependency is expected to reduce whilst energy driven industries will be ignited by upward domestic natural gas resources.

How to Establish an Energy Company in Turkey?

  June 5, 2014     By Herdem Attorneys at Law
Company establishment in Turkey is one of the initially asked questions by an investor before start up of an investment project. Even if the establishment procedures are subject to the provisions of the Turkish Commercial Code (“TCC”), some terms and conditions may vary from these provisions depending on the investment’s sector.

Transatlantic Trade and Investment Partnership: An Answer to the Shift of Global Economic Balances?

  June 4, 2014     By Herdem Attorneys at Law
Long gone are the days the American economy by itself producing almost the 50% of the total world economic output immediately following the Second World War. Gone, together with the predominance in the global economic output is the cheap energy prices that sustained the American economy and its new role back in the post war world as the workshop of the world following the British political and economic decline.

How to Tackle the Problems of the Turkish Mining Industry?

  May 30, 2014     By Herdem Attorneys at Law
Turkey's ever growing energy needs relocates the mining industry to the center stage in Turkey's energy policy. However as the mining industry still commands the center stage for the satisfaction of Turkey's energy needs, its problems still linger and beg for solutions.

An Overview of Hydroelectricity in Turkish Energy Market

  May 29, 2014     By Herdem Attorneys at Law
As is known,the renewable energy resources have gained great importance in energy production in Turkey as well as in the world. By reason of the exhaustibility of primary energy resources such as coal, oil and natural gas and import dependence on natural gas and oil, Turkey has been working on use of the renewable resources in electricity manufacturing and it is intended to increase the rate of renewable resources in electricity manufacturing up to 30 % until 2023.

Islamic Banking in Turkey: A Safe Haven for the Investors?

  May 22, 2014     By Herdem Attorneys at Law
The last decade in Turkey has seen an immense macro-economic growth that spilled over to various different branches of the national economy. The banking sector has been one of the leading industries to benefit from this growth. What accounted for such growth was in part domestic and in part international.

Turkish Aviation Industry: Combination of Growth with Rising Quality

  May 15, 2014     By Herdem Attorneys at Law
In conjunction with the rapid economic growth of the country, Turkish aviation industry has been registering a remarkable growth during the recent years. Utilizing from the geographical position of the country, which is strategically located in the close vicinity of Middle East and Africa as well as acting as a bridge between Europe and Asia, the Turkish aviation industry has taken off to be one of the leading in Europe.

Increasing Appeal of the Turkish Energy Market:TANAP

  May 13, 2014     By Herdem Attorneys at Law
The tender processes and construction works on TANAP Project are in progress and start of the construction of this pipeline is expected in this year. This project has gained importance before its start to operate. By reason of political issues between Ukraine and Russia, countries in the Europe may be faced with a natural gas problem in this year.

Restrictions on Rental Increases of Lease Contracts Under Spanish, Dutch and Turkish Laws

  May 12, 2014     By ADMD Law Office
It is customary to increase rents at lease contracts annually almost all around the world. Generally, the main source of such increase is inflation of monetary currencies and revaluation of the properties leased. However, there are legislative restrictions at many jurisdictions, limiting such application or predetermination based on contractual freedom on rental increases.

Limited Liability vs Joint Stock: Advantages and Disadvantages in Turkish Law Perspective

  May 9, 2014     By Herdem Attorneys at Law
Due to the recent amendments in the Turkish Commercial Code and the equity principle between domestic and foreign investors, the number of established local and international companies has been increasing in recent years in Turkey. As a conclusion, the question which company type shall be established comes to the fore frequently. Before the clarification of differences between these company types, it is important to provide information regarding the legal amendments in Turkish company law.

Shareholders’ Liability for Public Debts in Turkish Law

  May 9, 2014     By Herdem Attorneys at Law
As is known, administration and representation of joint stock companies are carried out by board of directors of the company. Members of board of directors can be elected by general assembly of the company from among shareholders or other third persons and board of directors can even leave the administration and representation of the company to only one member of the board of directors or other persons who are not member of board of directors as well.

Turkish Retail Sector: 2014 in Glance

  May 5, 2014     By Herdem Attorneys at Law
The year 2014 is expected to be a year in the Turkish retail sector in which increasing differentiation in terms of profit earnings is going to be felt among the various different industries. Especially crucial to understand the increasing differentiation among different sub industries with the Turkish retail sector is the complex interdependence that Turkey's energy needs have created among traditionally unconnected sectors.

Treasury Guaranty for Large Scale Projects In Turkey

  May 5, 2014     By Herdem Attorneys at Law
According to the New Regulation on Undertaking of Liabilities by the Undersecretariat of Treasury ("Regulation"), which has entered into force on 19.04.2014, the Treasury may provide guaranty for public private partnership ("PPP") projects over the limits that have been determined by the Regulation.

How to Penetrate the Turkish Energy Market?

  May 2, 2014     By Herdem Attorneys at Law
The energy market is one of the most preferred markets by investors. Especially within the opening of the energy market to competition to a large extent and the support of energy investments through financial incentives, Turkish energy market attract investors’ attention in recent years. Since Turkey’s energy demand and as a conclusion of this, the energy import volume grow rapidly, investments in energy production and energy trade have gained importance.

Islamic Compliant Project Finance in Turkey

  April 28, 2014     By Herdem Attorneys at Law
Islamic finance has been gaining ground in global markets as well as in Turkey throughout the recent years. In this regard what is especially important for the business world is the transformation of Islamic finance from simple financial tools to highly specialized tools for project finance.

How to Best Locate Your Company in Turkey?

  April 18, 2014     By Herdem Attorneys at Law
In the establishment process of a company, the question which comes to the fore first of all is where the company shall be established. Since the place of business of a company plays an essential role for an investor, he/she shall be informed about the advantages and disadvantages of special areas detailedly in the start-up phase, even if the company's sector is also relevant for investor's decisions regarding his/her projects.



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