Turkey Legal Articles

Law related articles writen by lawyers
and experts witnesses practicing in Turkey

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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.

Turkish Renewable Energy Market

  April 17, 2014     By Herdem Attorneys at Law
Turkey's high economic growth which had reached almost double digits numbers by the middle of the last decade and stands around an annual average of 4% dictates new and innovative solutions to Turkey in order to reshuffle its energy infrastructural base.

Embezzlement in Turkey

  April 14, 2014     By Barlas Uyar Eraslan Law Firm
Embezzlement is typically seen at public sector however it has been a general issue in private sector as well and it may be a risk factor that causes serious financial loss.

Bid Rigging in Turkey

  April 14, 2014     By Barlas Uyar Eraslan Law Firm
Bid rigging is mostly a current issue at public institutions however it has become widely encountered at public sector as well ant it surely causes serious financial damage.

Inheritance Rights of a Foreigner in Turkey

  April 14, 2014     By Barlas Uyar Eraslan Law Firm
A foreigner is the individual who is not the citizen of the country s/he has been living in. A foreigner may both be an individual or a legal entity. In this regard, the law to be applied to foreigners is the law for the foreigners and the International Private and Procedural Law (“PPL”). The said law designates the testamentary dispositions of the testator and determines to which such dispositions are subject to.

Maintenance and Preservation of Partnership Structure in Turkiash M&A Transactions

  April 14, 2014     By Herdem Attorneys at Law
The one of the most significant principle in an M&A transaction is “the principle of maintenance of partnership structure” (or the maintenance principle) under Turkish Commercial Code.

Share Types and Share Transfers in Accordance with Turkish Law

  April 14, 2014     By Barlas Uyar Eraslan Law Firm
Share is the part of the main capital divided to a specific number of unit value. In accordance with the former Turkish Commercial Code (hereinafter shall be referred to as”the former TCC”) it is not mandatory for a Joint Stock Company (hereinafter shall be referred to as “JSC”) to issue shares. JSC reserves two types of shares. These are registered share and bearer share. A JSC may issue shares following the official registration of the company.

Mediation in Turkey: An Alternative Method for Dispute Resolution

  April 10, 2014     By Herdem Attorneys at Law
Mediation as an alternative dispute resolution has been regulated by European Union Directive 2008/52/EC providing the application of mediation for civil and commercial cases in the member states of the European Union ("EU"). In some of the Member States of the EU the mediation is recent and has been regulated short time ago by their national laws and mediation has been enacted by a separate law.

Crowd Funding in Turkey: The New Panacea for the Credit Shortages?

  April 8, 2014     By Herdem Attorneys at Law
It is convenient neither for the consumers nor for the producers to get accustomed to a global financial market which is marked by liquidity shortages after a decade of growing global money supply to be present virtually in every part of the globe.

Tariff Disputes in Turkey and Alternative Methods for Resolution

  April 7, 2014     By Herdem Attorneys at Law
Customs duties can be examined within the scope of two types of taxes which are expenditure tax and excise (Indirect) tax. Customs duty can be described as an expenditure tax. Expenditure taxes are for the services and goods produced sold or consumed. Customs duties are type of excise (indirect) tax as well because taxpayers reflect custom duties to consumer by including the tax into the prices of the goods to be sold. Taxable event, time and who to bear are not certain.

The Taxation Perspective in Liquidiation of Turkish Companies

  April 4, 2014     By Herdem Attorneys at Law
As well as the company establishment, an investor may take decision for termination of his/her company or a company's termination conditions stated in the laws may occur such that start of a liquidation process becomes unavoidable for the company.

Turkish Banking Sector is Still Resilient

  April 3, 2014     By Herdem Attorneys at Law
Recently one of the world renowned leading credit rating institutions has stated that Turkish banking industry has the necessary liquidity capacity to pay back the short term debts.

New Age for Pension Funds in Turkish Market

  April 3, 2014     By Herdem Attorneys at Law
Turkey has been incrementally applying for new implementations on the grounds of mitigate the current account deficit. New Individual Retirement System is one of the most efficient way for this new austerity plan.

How to Incorporate in Turkey

  April 1, 2014     By ADMD Law Office
Summary information on formation of businesses under different types of commercial entities in Turkey.

New Opportunity For the Turkish Energy Market: The Eastern Mediterranean Gas Fields

  March 27, 2014     By Herdem Attorneys at Law
The high economic growth of Turkey which has been going on for more than a decade now intensified Turkey's need for more energy. It is estimated that Turkey is going to need a substantial volume of energy which will amount to a 7 % annual growth for the Turkish energy market until the year 2023.

Corporate Governance in Turkey: Lessons From The American Experience

  March 27, 2014     By Herdem Attorneys at Law
Corporate governance serves as a tool in order to ensure accountability, transparency and responsible management on the part of the enterprises which have increasingly been finding themselves in a more competitive world.

Turkey and Aircraft Financing Junction: Sukuk Issuing

  March 24, 2014     By Herdem Attorneys at Law
Despite a slowdown in 2013 with 13% decline by sukuk volume, it is most likely to witness a distinct expand in next year since it will lie beyond Gulf region.

Liguefied Natural Gas Market in Turkey

  March 20, 2014     By Herdem Attorneys at Law
Currently, the importance of the Liguefied Natural Gas ("LNG") has come to the fore with the discussions concerning the probable problems in natural gas import to the Europe due to the Crimean Crisis. According to the experts' opinion, the LNG import to the Europe may increase in the near future depending on the decrease of the natural gas import. In brief, the LNG plays an essential role as an energy resource.

Base Erosion and Profit Shifting Action Plan: Effects on PE Funds

  March 17, 2014     By Herdem Attorneys at Law
BEPS ( "Base Erosion and Profit Shifting") is a tax strategy which is driven by asymmetries and mismatches amongst different jurisdictions in terms of tax issues.

Turkish Banking Industry Outlook 2014

  March 10, 2014     By Herdem Attorneys at Law
The Turkish Banking sector is expected to operate in crunchy year in 2014. The concerns related with Fed's actions that might result with the end of monetary expansion clearly signals that the year 2014 might be tough one for the emerging economies.

Comparative Legal Analysis on the Legislations regarding Corruption and Bribery in Turkey

  March 5, 2014     By Serap Zuvin Law Offices
This article is a comparative legal analysis, which points out the adaptability of the legislation in Turkey and the international agreements on corruption and bribery, whereas also points out the differences of the legislation between Turkey, India and United States of America on the contemplated subject.

2013 Turkey Energy Report

  February 28, 2014     By Herdem Attorneys at Law
Turkish economic growth that had been going on for more than a decade have created a strong economy that is based on high demand for energy.

Angel Investment, Private Equity and Venture Capital in Turkey

  February 28, 2014     By Herdem Attorneys at Law
Throughout the last decade Turkey had managed to transform itself in to an economic hub in its region. Its high rates of economic growth combined with a stable social and political environment had generated an investor friendly atmosphere.

A Brief Look into Turkish Promissory Note System

  February 27, 2014     By Aydin Orhan Law Firm
The aim of this article is to provide an insight on the Turkish negotiable instrument system and promissory notes in particular. The article outlines the important facts regarding the promissory notes.

Electricity Market Liberalization in Turkey: EU Directives and Harmonization

  February 26, 2014     By Herdem Attorneys at Law
As is known, the Turkish energy sector has been in a liberalization process for a long time and compared to other energy markets, the electricity market is in the fore especially regarding the legislation. Recently, the eligible customer limit in electricity market has been decreased to 4500 kWh from 5000 kWh per year within the Resolution of the Energy Market Regulatory Board in January 2014.

Legal Outlook of Turkish Gas Market

  February 26, 2014     By Herdem Attorneys at Law
With rapidly growing economy, Turkey has become one of the fastest growing energy markets in the world. Turkey has been experiencing rapid demand growth in all segments of the energy sector for decades.

Legal Outlook of Turkish Private Equity Market

  February 26, 2014     By Herdem Attorneys at Law
Companies that invest in the private equity market bear high risks but also the possibility of high returns. Usually, private equity companies exit after about three to seven years. However, Turkish private equity companies tend to invest for longer periods. Private equity capital is also preferred for buyouts, which gives the investor company the opportunity to take control of the investee company.

Is Data Exclusivity an Advantage or an Obstacle for Pharmaceutical Companies in Turkey?

  February 24, 2014     By Herdem Attorneys at Law
Turkish pharmaceutical policy has changed radically and made progress starting from the last decade. In the meantime, some controversial topics such as reimbursement, pricing, authorisation, intellectual property rights, and quality and harmonisation process with the EU were and in fact still are the highly disputed issues.

Bilateral Investment Promotion and Protection Agreements of Turkey

  February 19, 2014     By Herdem Attorneys at Law
Starting with the trade liberalisation and opening up of the economies world over accordingly, each country has been trying to attract foreign capital through liberalised investment policies. In this connection, foreign investors started to seek investment destinations which provide most protective, hospitable and profitable climate for their investments.

A Lucrative Exit by PE Funds: Recap Strategy in Turkey

  February 14, 2014     By Herdem Attorneys at Law
Private equity becomes more popular in Turkey since majority of companies intend to utilize private equity funds.

How to Establish a Company in Turkey: Foreign Direct Investment Perspective

  February 14, 2014     By Herdem Attorneys at Law
Establishment of a company is one of the first steps of penetration into a foreign market. The frequently asked questions by foreign investors is how to establish a company and which company type would be most recommended for the investors.

Settlement of Investment Disputes and Provisional Measures

  February 13, 2014     By Herdem Attorneys at Law
Protecting foreign investors’ rights in a country is a significant problem both for investee country and investor. In order to solve this, an international mechanism has been brought which is called ICSID Convention (International Centre for Settlement of Investment Disputes) so that disputes between the contracting state of ICSID Convention and foreign investor can be settled before a special tribunal established according to Convention provisions or conciliation commission of ICSID.

Turkish Retail Sector Still Awaiting for a New Legislation

  February 3, 2014     By Herdem Attorneys at Law
Astonishing growth of the Turkish economy, which had managed to reach an average growth rate slightly more than 5%, during the last ten years have created a dynamic retail sector especially by increasing the disposable income which stands at USD$ 7700 per capita.

Energy Sector in Turkey and the Central Importance of EPİAŞ

  January 29, 2014     By Herdem Attorneys at Law
Turkish economic growth that had been going on for more than a decade have created a strong economy that is based on high demand for energy.

Private Equity Investments in Family Owned Businesses in Turkey

  January 27, 2014     By Herdem Attorneys at Law
Buy-outs of family/private firms represent a significant part of the overall buy-out market in Turkey.

Mezzanine Capital in Turkey; A Breakthrough Growth or A Simple Alternative in Financing

  January 26, 2014     By Herdem Attorneys at Law
Financial system is wide range of new alternative instrument for developing countries and Turkey heads toward new financial system in this regard.

The New Opportunities For the Technoparks In Turkey and in the World

  January 23, 2014     By Herdem Attorneys at Law
Research and Development (R&D) activities have been supported in numerous countries since 1970's in order to increase the industrial production activities. To maintain and develop these activities, technoparks have been established in Turkey and in many other countries.

What is Happening in the Turkish Pharmaceutical Market?

  January 23, 2014     By Herdem Attorneys at Law
Turkish pharmaceutical market is a sizable one where 300 different companies currently operate to provide pharmaceutical products for the needs of a population of 75 million people.

Bridge Financing for Turkish Private Equity Market

  January 21, 2014     By Herdem Attorneys at Law
Turkey is emerging market’s dynamism and is a suitable area for future factors in the traditional market.

How to set up a single-shareholder company in Turkey?

  January 21, 2014     By Herdem Attorneys at Law
The new Turkish Commercial Code has provided new rules regarding the corporate structure of limited liability and joint stock companies. Pursuant to the repealed Commercial Code, the establishment of a company was not possible with one shareholder.

Medical Tourism and Free Healthcare Zones In Turkey

  January 20, 2014     By Herdem Attorneys at Law
Tourism mentality has been in a change in the world in recent years. The term "medical tourism" as a part of "alternative tourism" has been taking part also in Turkey. Especially the diversity of natural resources such as thermal waters and investments in the medical sector have been the main factors on development of the medical tourism in Turkey.

Why Still Invest in Turkey?

  January 20, 2014     By Herdem Attorneys at Law
The global economic uncertainties surrounding the apprehensive expectations of Fed’s future monetary policies have already coalesced with the ongoing political crisis in Turkey.

Corruption Claims and Effects in Turkish Banking Law

  January 15, 2014     By Herdem Attorneys at Law
The latest corruption claims in banking sector of Turkey may show considerable effects which have already started to spread several areas of the Turkish economy. With the arrestment of general manager of a state bank, all attentions draw to Turkish anti-corruption law and concerns increasing among government officials and investigators.

Record Number of Mergers and Acquisitions in Turkey

  January 15, 2014     By Herdem Attorneys at Law
The growing economic clout of Turkey has lately been visible on various different fronts. Its high level of GDP growth, low levels of inflation, increasing export capacity and low ratio of public debt are all manifestations of Turkey's economic strength.

Hydroelectricity Power in Turkey

  January 13, 2014     By Herdem Attorneys at Law
Turkey is rapidly becoming a very important market player in its own territory with ambitious targets in energy sector.

Shopping Malls in Turkey and Retail Legislation

  January 10, 2014     By Herdem Attorneys at Law
Calling the shopping malls as a shining star would not be exaggerated and when we see the rise of the sector despite the financial worries and economic fluctuation in Turkey especially after December 17 which is the starting time of the bribery and corruption operation.

Emerging Financial Instrument in Turkey: Asset Backed Securitization

  January 10, 2014     By Herdem Attorneys at Law
Asset Backed Securities- Securitization is the transformation of receivables and cash flow created from a collection of financial assets into securities which are backed by these assets.

New Regulations for Squeeze-Out Rights in Corporate Governance

  January 10, 2014     By Herdem Attorneys at Law
Rights to squeeze out and rights to sell-out are subject to different legislations regarding the types of the company as in non-public company or publicly held company in Turkey.

Ground Handling Exceptions for Foreign Air Carriers in Turkey

  January 10, 2014     By Herdem Attorneys at Law
Turkish Civil Aviation is developing each passing day with extending capacity of passenger carried, increasing amount of airlines and of course third airport project in Istanbul.

A Test for Turkish Electricity Market: Fraud-Based Manipulation

  January 8, 2014     By Herdem Attorneys at Law
Turkish electricity market is rapidly transforming a competitive open market by consistent privatization and liberalization policies of Turkish government.