All Publications

Liabilities of Board Members of Capital Companies in Turkey

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…

HEALTH TOURISM IN TURKEY

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…

CAPITAL INVESTMENT IN TURKEY

Av. Ali Yurtsever 2. FOREIGN CAPITAL INVESTMENT IN TURKEY There are relatively few capital restrictions imposed upon capital investment in Turkey, and Turkey has also taken steps to ease the complexities and procedures the foreigners need to go through in order to incorporate and/or relocate…

CORPORATE TAX LAW 101 – BEGINNER’s GUIDE FOR FOREIGN INVESTORS

The income tax calculations for 2022 are as follows: Income AmountTax RateUp to 32.000 TL  %15Above 32.000 TL and up to 70.000 TL%20 (4.800 TL tax for the initial 32.000 TL)  Above 70.000 TL and up to 170.000 TL%27 (12.400  TL tax for the initial…

How to Issue Corporate Bonds in Turkey

Av. Ali Yurtsever L.L.M Corporate Bond Issue Limits Since corporate bonds are classified as debt instruments, and by virtue as capital markets instruments, they are heavily regulated in Turkey. Main regulations and restrictions are imposed by the provisions of the Communique and the Board acts…

Plastic Surgery Malpractice in Turkey

Av. Emir Aksoy LL.M, LL.M. IP Medical Malpractice Claims In cases where a patient suspects medical malpractice, including plastic surgery malpractice is committed by either the attending doctor or the supporting medical staff, it is important to understand and determine the rights and obligations of doctors…

8 Principles for Lawful Personal Data Processing in Turkey

Av. Ali Yurtsever L.L.M The implementation of the LPDP also meant additional compliance requirements and liabilities for businesses that control and/or otherwise process personal data. However, attaining full compliance to LPDP and the Data Protection Authority’s (DPA) decisions is no easy task, as businesses are required to implement…

Personal Data Protection in Turkey

Av. Ali Yurtsever L.L.M Fact Check – Does the LPDP Apply to Your Business? One of the main issues with the applicability of the LPDP is that the companies, shareholders, and/or individuals wrongfully interpret the terms noted within the legislation. The most common mistakes concern the…

Early Dismissal of Foreign Academics In Turkish Universities

Av. Ali Yurtsever L.L.M II. Wrongful Dismissal of Foreign Academics & Possible Claims The issues briefly summarized above, and the relevant high court precedents are especially important in cases of wrongful early termination of foreign academics, as it directly affects the rights foreign academics can claim…

Distributorship Agreements Under Turkish Law

II. Legal Provisions Applicable to Distributorship Agreements Since distributorship agreements are not regulated or otherwise recognized under separate provisions within the legislation, determining the applicable legal provisions and clauses to these agreements can sometimes be challenging. As it stands, clauses and provisions applicable to distributorship…

INTELLECTUAL PROPERTY (IP) STRATEGY FOR START-UPS

Identifying & Prioritizing IP Rights To ensure that intellectual assets are well protected, a startup should first thoroughly analyze its business plan, strategy and products, and effectively identify each possible IP right/class that it needs to register. This is crucial as a failure to anticipate…

Appeals Against Administrative Fines

How to Appeal Against Administrative Fines Imposed by the Turkish Data Protection Authority Av. Ali Yurtsever L.L.M Legal Standing of the Administrative Fines Imposed by the DPA According to Article 22 of the LPPD, the DPA is authorized to impose administrative sanctions to those who violate…

Commercial Electronic Messages

Commercial Electronic Messages and Message Management System Registration Process Av. Ali Yurtsever L.L.M Commercial Electronic Message Definition and Obtaining Approval  Commercial electronic message is defined in Article 2 of the Law and Article 4 of the Regulation. In accordance with both articles, commercial electronic message is “ a…

DRUG POSSESSION AND CRIMINAL PENALTIES IN TURKEY

DRUG POSSESSION FOR PERSONAL USE  As noted above, drug possession for personal use is regulated under Article 191 of the Turkish Penal Code. According to subparagraph 1 of this Article 191, anyone who purchases, accepts, or possesses illegal drugs for personal use shall be sentenced…

Digital Services Tax Introduced in Turkey

Digital Services Tax Definitions and Applicability With the publication of this law, Turkey aims to tax the digital services. Digital services tax is determined as an indirect tax and is deductible from income/corporate tax bases. According to Article 52 of the Law, digital services tax duty will…

COVID-19 LEGAL GUIDELINE FOR COMPANIES IN TURKEY

LEGAL EFFECTS OF COVID-19 ON RENT PAYMENTS AND EMPLOYMENT Av. Ali Yurtsever L.L.M II. RENT PAYMENTS FOR OFFICE SPACES a. Brief Review of Legislative Amendments Following the closing down of certain businesses with the above noted mandate, one of the first legislative changes introduced was about…

Infographic On Acquisition Of Turkish Citizenship By Investment

This infographic provides a visual summary of acquisition of Turkish citizenship by investment procedures and the contents are examined in detail in our relevant articles and aims to help our clients better understand the complexities of the procedures involved.

Legal Liabilities of Board Members 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…

SHARE TRANSFERS IN TURKEY – A VISUAL SUMMARY

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…

SHARE TRANSFERS IN JOINT STOCK COMPANIES IN TURKEY – PART II

THE ROLE OF COMPANY SHARE LEDGERS IN SHARE TRANSFERS IN TURKEY Av. Ali Yurtsever L.L.M a) The Problem of Attaining Shareholder Status in a JSC Owning shares in a JSC and claiming the shareholder title before the company are two different things. This may be kind…

SHARE TRANSFERS IN JOINT STOCK COMPANIES – PART I

SHARE TRANSFERS IN TURKEY – PART I Av. Ali Yurtsever L.L.M Share transfer Procedures The TCC sets forth that the principle of transferability shall be applicable to shares of JSCs. This means that as a rule, the shares of JSCs can be freely transferred by…

Copyright Protection in Turkey

Copyright protection in Turkey is regulated under the Intellectual and Artistic Works Law No. 5846 (hereinafter will be referred as “the Law”). Copyright arises automatically on creation of work, whereas “work” is defined as any intellectual or artistic product bearing the characteristic of its author,…

COMPANY FORMATION IN TURKEY (INCORPORATION)

II. COMPANY TYPES Although the Law does allow for the incorporation of “personal companies” (where company owners are fully liable with their personal assets for any and all company debts), capital companies are the most common form of business entities in Turkey utilized by both…

RTUK Supervision to Online Media Services

RTUK is Now Entitled To Supervise Online Media Service Providers Emir Aksoy LL.M, LL.M. IP Licensing and Authorization Such media service providers will have to apply for a license or authorization within a month starting from the effective date of this Regulation(01.08.2018). Depending on the…

Notice and Takedown Procedure for Digital Copyright Infringements in Turkey

Emir Aksoy LL.M, LL.M. IP First stage is the notice and takedown for copyright infringements , which requires the content provider to takedown the infringing content from the website within three days following the notice to be made by the right holders. Second stage starts if the content provider…

TERMINATION OF EMPLOYMENT CONTRACTS BY EMPLOYERS AS PER TURKISH LABOR LAW

II. CONDITIONS FOR EMPLOYMENT SECURITY Article 18 of the law clearly defines the conditions of employment security. Accordingly, any worker/employee who has been working for at least six months in a workplace that employs at least 30 employees shall benefit from the employment security rules.…

DEBT COLLECTION IN TURKEY

Av. Ali Yurtsever L.L.M II. DEBT COLLECTION PROCEDURES Debt collection claims can be separated into two general categories, those that are based on an independent legal promissory note and those that are not. In both cases, the execution office submits an order of payment to the debtor…

DISCONTINUATION OF PARTNERSHIP (İZALE-İ SUYU)

Emir Aksoy LL.M, LL.M. IP In the case of dissolution of the partnership, the court in charge is the civil court of peace, and if the subject of the lawsuit is a movable, it is the last place of residence of the testator. The stakeholder…

The Importance of Due Diligence

Emir Aksoy LL.M, LL.M. IP Intellectual Property of a company in most of the cases determines the price of the company and should be carefully analyzed during the DD process. Especially the national and international patents and pending patents of the Company should be reviewed.…

WORK PERMIT APPLICATIONS FOR FOREIGNERS IN TURKEY

 II. METHODS OF WORK PERMIT APPLICATION There are two methods to apply for a work permit; the first is overseas applications submitted to the relevant Turkish consulate at the appropriate country, and the second method is the domestic applications to be made directly to the…

PERSONAL DATA PROTECTION AND USE OF BIOMETRIC DATA IN TURKEY

II. DEFINITION OF PERSONAL DATA AND PROCESSING METHODS Article 2 of the Law defines personal data as “all information relating to an identified or identifiable natural person”, whereas Article 6 sets forth that “personal data relating to the race, ethnic origin, political opinion, philosophical belief,…

ANTI-COUNTERFEITING RAIDS UNDER TURKISH LAW

Emir Aksoy LL.M., LL.M. IP According to a new report by the OECD and the EU’s Intellectual Property Office (EUIPO), Turkey now stands at 3.3% of global trade in counterfeit and pirated goods. Counterfeit products especially in sectors like medical products, cosmetics and food industry constitutes…

THE IMPORTANCE OF CONFIDENTIALITY AGREEMENTS

Emir Aksoy LL.M., LL.M. IP The general industry practice is to keep these NDA’s as short as possible in order to make them appear as simple and straightforward agreements, so that they will not raise any red flags when reviewed by an uneducated eye. Unfortunately,…

INTERNET BANS IN TURKEY

Banning/Blocking Access to Certain Websites Av. Ali Yurtsever L.L.M II.PREVENTION OF THE VIOLATION OF PERSONAL RIGHTS AND BLOCKING OF ACCESS The Law set forth definitions and organizational structure, catalogue crimes and the legal framework for banning websites and a few procedures. The Information and Communication Technologies…

Turkish Citizenship by Investment

Turkish Citizenship Applications Based on Real-Estate Investments Av. Ali Yurtsever L.L.M II.SUMMARY OF RECENT FRAMEWORK CHANGES a) Amendments Made in Early 2017 As noted above, the Council of Ministers adopted a new decision which amended the ‘Regulation on Amending the Regulation Regarding the Implementation of Law…

Acquisition of Property By Virtue of Statute of Limitations

II. VALIDITY CONDITIONS In order to benefit from the right mentioned in article 713 above, certain conditions must be met. Pursuant to paragraph 1 of the relevant article, in order to benefit from these rights, it is necessary to “hold an immovable that is not registered in…

ANTI-DAMPING MEASURES APPLICATION PROCEDURE

Circumstances Requiring Precautions  Pursuant to Article 3 of the Law, “situations requiring measures; It is defined as the import subject to dumping or subsidy causing material damage in a production branch in Turkey or creating a threat of material damage or physically delaying the establishment of…

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