A Strategic Guide for Investors I. Intorduction Turkey's prominence in the global medical tourism sector has grown steadily over recent years. With the country attracting approximately 338,000 foreign patients in 2020, this number surged to 624,444 in 2021 and reached 1.258 million in 2022. Projections suggest that by 2023, this figure could touch 1.8 million. …
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Av. Ali Yurtsever 1. Overview The main legislation governing the duties, responsibilities and the liabilities of board members of capital companies in Turkey, (JSCs and LLCs) is the Turkish Commercial Code No. 6102, (TCC). As a rule, the TCC requires the Board Members to act as cautious executives and protect the interests of the company …
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A Guide for New Investors from Av. Ali Yurtsever 1. INTRODUCTION - HEALTH TOURISM IN TURKEY Turkey has been a leading force in medical tourism market around the world for some time now. Although the market did take an initial hit with the emergence of Covid-19, it quickly recovered to pre-pandemic numbers once the travel …
1. OVERVIEW Over the past few years, several different developments, both transnational and domestic, have had effect of making capital investment in Turkey a more desirable and approachable prospect for foreign investors. These developments range from global socio-political changes to internal economical issues Turkey has been experiencing these past several years, making it an affordable …
Tax ID, Cycles, Submission of Declarations & Invoicing in Turkey A. Overview As summarized in our previous article (Corporate Tax 101 -link-), Turkey has a rather complex tax system with regulated by numerous laws and secondary regulations, especially when it comes to corporate tax. As noted above, there are different tax cycles and different durations …
BEGINNER’s GUIDE FOR FOREIGN INVESTORS A. Overview Turkey has a complex tax system implemented with numerous separate laws, regulations, communiques and subsequent amendments. Accordingly, the main legal texts regulating the Turkish Tax System are the Tax Procedure Law No. 213 dated January 4, 1961 (Tax Procedure Law), Corporate Tax Law No. 5520 dated June 13, …
A Guide to Raising Funds and Issuing Corporate Bonds in Turkey Corporate Bonds in Turkey as a Method of Raising Funds Within the complex structure of capital market instruments, issuing corporate bonds in Turkey stands out as an efficient method to raise new funds for companies. Allowing companies swift access to new funds can support …
We reviewed the general rules and procedures of share transfers in Turkey relating to share transfers in joint stock companies..
Liabilities of Board members are regulated under Article 553 of TCC. Accordingly, board members may only be responsible of the damages caused to the company to it’s shareholders and to the creditors of the company (related third parties) in case they fail to fulfill their obligations arising from the law and articles of association at their own fault. Two conditions mentioned above should co-exist to hold the Board Members liable for their acts.
As part of our share transfer and corporate law series, we already analyzed the rules and procedures of share transfers in Joint Stock Companies (Part-I) and the role of share ledgers in such transactions (Part-II). Due to the complex nature of these transactions, we also created an infographic in order to make the information more …
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