JD Supra Turkey

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Latest documents

• Establishing a Business Entity in Turkey (Updated)

  A. Types of Business Entities - 1. Description of The Types of Entities - Pursuant to Turkish Foreign Direct Investment Law, foreign investors are free to make foreign direct investments in Turkey and shall be subject to equal treatment with domestic investors. Thus, foreign invested companies enjoy the same rights available to local companies under the Turkish Commercial Code (“TCC”). The TCC provides several company structures. However, largely due to advantages regarding liabilities borne by the shareholders, investors most commonly chose between a stock corporation known as anonim sirket which is similar to an Aktiengesellschaft under German law and to a société anonyme under Swiss or French law and limited liability company known as limited sirket which resembles a GmbH under German law or an S.A.R.L. under French law.

• Buying and Selling Real Estate in Turkey (Updated)

  KEY FACTS OF REAL ESTATE ACQUISITIONS UNDER TURKISH LAW - 1. Agreement Types - Pursuant to Turkish laws, a real estate sale and purchase agreement shall be in an official form and the transfer of ownership of real estate is only possible with an official deed and registry, which is signed at the Land Registry Directorates. It is also possible to sign a real estate sale commitment agreement that sets forth the conditions of the sale before a notary public. It is advisable to annotate this agreement to the relevant land registry records to assert personal rights arising from this agreement to third parties. In case the real estate has been acquired by third parties, a lawsuit for the nullification of title deed can be filed. However, if the sale is not effectuated within five years of the annotation, the annotation will be automatically removed by the Land Registry Directorates pursuant to the Land Registry Law.

• Establishing A Business Entity In Turkey (Updated)

  A. Types of Business Entities - 1. Description of The Types of Entities - Pursuant to Turkish Foreign Direct Investment Law, foreign investors are free to make foreign direct investments in Turkey and shall be subject to equal treatment with domestic investors. Thus, foreign invested companies enjoy the same rights available to local companies under the Turkish Commercial Code (“TCC”). The TCC provides several company structures. However, largely due to advantages regarding liabilities borne by the shareholders, investors most commonly chose between a stock corporation known as anonim sirket which is similar to an Aktiengesellschaft under German law and to a société anonyme under Swiss or French law and limited liability company known as limited sirket which resembles a GmbH under German law or an S.A.R.L. under French law. Please see full Chapter below for more information.

• Establishing A Business Entity In Turkey (Updated)

  A. Types of Business Entities - 1. Description of The Types of Entities - Pursuant to Turkish Foreign Direct Investment Law, foreign investors are free to make foreign direct investments in Turkey and shall be subject to equal treatment with domestic investors. Thus, foreign invested companies enjoy the same rights available to local companies under the Turkish Commercial Code (“TCC”). The TCC provides several company structures. However, largely due to advantages regarding liabilities borne by the shareholders, investors most commonly chose between a stock corporation known as anonim sirket which is similar to an Aktiengesellschaft under German law and to a société anonyme under Swiss or French law and limited liability company known as limited sirket which resembles a GmbH under German law or an S.A.R.L. under French law. Please see full Chapter below for more information.

• Buying and Selling Real Estate in Turkey (Updated)

  KEY FACTS OF REAL ESTATE ACQUISITIONS UNDER TURKISH LAW - 1. Agreement Types - Pursuant to Turkish laws, a real estate sale and purchase agreement shall be in an official form and the transfer of ownership of real estate is only possible with an official deed and registry, which is signed at the Land Registry Directorates. It is also possible to sign a real estate sale commitment agreement that sets forth the conditions of the sale before a notary public. It is advisable to annotate this agreement to the relevant land registry records to assert personal rights arising from this agreement to third parties. In case the real estate has been acquired by third parties, a lawsuit for the nullification of title deed can be filed. However, if the sale is not effectuated within five years of the annotation, the annotation will be automatically removed by the Land Registry Directorates pursuant to the Land Registry Law. Please see full Chapter below for more information.

• Buying and Selling Real Estate in Turkey (Updated)

  KEY FACTS OF REAL ESTATE ACQUISITIONS UNDER TURKISH LAW - 1. Agreement Types - Pursuant to Turkish laws, a real estate sale and purchase agreement shall be in an official form and the transfer of ownership of real estate is only possible with an official deed and registry, which is signed at the Land Registry Directorates. It is also possible to sign a real estate sale commitment agreement that sets forth the conditions of the sale before a notary public. It is advisable to annotate this agreement to the relevant land registry records to assert personal rights arising from this agreement to third parties. In case the real estate has been acquired by third parties, a lawsuit for the nullification of title deed can be filed. However, if the sale is not effectuated within five years of the annotation, the annotation will be automatically removed by the Land Registry Directorates pursuant to the Land Registry Law. Please see full Chapter below for more information.

• Dentons COVID-19 Retail Tracker - Turkey

  Status – Has any special status been introduced? General curfew - General curfew applicable on weekends and between 9 pm and 5 am on weekdays, with certain exceptions regarding continuing production, procurement and logistics activities etc. 

• Turkey: The impact of ESG compliance on M&A

  Concern around carbon footprints, climate change, greenhouse emissions and compliance with environmental regulations and anti-bribery and corruption legislation has been on the rise over the last 20 years.

• 2021 Venture Capital Guide - Turkey

  World Law Group member firms recently collaborated on a Global Venture Capital Guide that covers more than 30 jurisdictions on investment approval processes, typical investment sectors and investment structures on Venture Capital deals (and more!).

• Update: EU, UK, and US Sanctions Against Turkey

  Recent sanctions imposed by the European Union, United Kingdom, and the United States on Turkey and certain Turkish persons will be of interest to European and American investors in Turkey’s defense and energy sectors. The following update contains a summary of each regime.

Featured documents

• International Investment Arbitration in the Middle East: Year in Review 2015

  International investment arbitration – also known as investment treaty arbitration or investor-State arbitration – is a procedure whereby foreign investors may seek a binding adjudication of claims against host States that have either violated investment protection treaty obligations or, in some...

• Beginning of an era of Turkish bank capital securities

  As the Basel III requirements continue to kick in, Turkish banks are under increased pressure to boost their capital base in order to continuously grow their balance sheet. Various structures for capital securities are being discussed more exigently than ever, and diversification of products is on...

• U.S. Imposes Sanctions on Turkish Presidency of Defense Industries

  The State Department announced the imposition of sanctions on the Republic of Turkey’s Presidency of Defense Industries (“SSB”), and four related Turkish individuals under the Countering America’s Adversaries Through Sanctions Act (“CAATSA”) for engaging in a significant transaction with a...

• ILN-terviews: Emre Özcan, Özcan & Natan

  Welcome to ILN-terviews, a series of profiles of ILN member firm attorneys, designed to give a unique insight into the lawyers who make up our Network. For our latest interview, we chose ILN member, Emre Özcan of our member firm Özcan & Natan in Istanbul, Turkey. In one sentence, how would you...

• New banking regulation on "Systemically important banks" in Turkey

  A new banking regulation, “Systemically Important Banks” (the Regulation), has come into force upon its publication in the Turkish Trade Registry Gazette. The purpose of the Regulation is to determine (i) the “systemically important banks” whose operations are vital for the Turkish financial system,...

• 2018 Global Employee Equity at a glance: Turkey

  Welcome to the Turkey page of our Global Employee Equity at a glance series. Stock Option Plans: Employment - Labor Concerns - There is a risk of employees claiming that they are entitled to compensation for loss of rights under the Plan where the Plan is amended or discontinued or where...

• Update: EU, UK, and US Sanctions Against Turkey

  Recent sanctions imposed by the European Union, United Kingdom, and the United States on Turkey and certain Turkish persons will be of interest to European and American investors in Turkey’s defense and energy sectors. The following update contains a summary of each regime....

• Turkey Continues Its Reform Of Labor And Employment Laws Despite Waning Enthusiasm For EU Membership

  Turkey’s decades-long quest for membership into the European Union has been the impetus of many rapid and “modernizing” changes throughout this ancient country, pushing it ever closer to its European neighbors relative to its laws, economy and politics....

• New Law on Tax and Social Security Premium Amnesty in Turkey

  On August 3, 2016, Turkey passed a detailed new law entitled "Statutory Proposal on Restructuring of Certain Receivables" (the "Law") which offers taxpayers a broad amnesty for most types of unpaid taxes and for unpaid social security insurance premiums relating to the period up to June 30, 2016....

• New Tax Rates Applicable to Bond and Sukuk Income, Tier II loans and securitizations

  Withholding tax rates on income derived from Eurobonds and lease certificates issued outside of Turkey, on interest payments of Tier II loans and securitization financings; as well as BITT applicable to securitizations backed by mortgage-covered bonds have been amended by a Presidential Decree....