JD Supra (JD Supra Turkey)

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”)....

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...

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”)....

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”)....

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...

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...

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. 

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.

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!).

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.

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 designated party in the Russian defense sector for the procurement of the S-400 surface-to-air missile...

For generations, the area around the eastern Mediterranean Sea has been filled with turmoil. From the Arab-Israeli conflict to the divided island of Cyprus and the general animus between Greece and Turkey, the region’s problems have seemed intractable. Originally published on Forbes.com - October 22, 2020.

In an attempt to shut down free speech online, Turkey enacted a law that requires social media platforms with more than a million daily users in Turkey to open an office there or assign a representative who is legally accountable to Turkish authorities. Among other things, the law also requires companies to respond within two days to complaints about posts that “violate personal and privacy...

On October 1, 2020, the Agreement between the Government of the Republic of Turkey and the Government of the People’s Republic of China Concerning the Reciprocal Promotion and Protection of Investments (the “Agreement”) was published in the Turkish Official Gazette to ratify an amendment protocol signed by the contracting parties.

As in the rest of the world, the coronavirus (“COVID-19”) pandemic has caused significant disruption in the Turkish economy and financial markets. In response, the Turkish Government has introduced an economic stimulus package, introducing a mix of financial support, credit support and employment-related measures to help citizens and businesses weather the COVID-19 crisis.

Following the outbreak of COVID-19 and its development into a global pandemic, organizations have been implementing exceptional measures to safeguard the health of employees, customers and others. Organizations are also endeavouring to maintain 'business-as-usual' to the extent allowed by their particular circumstances.

The novel coronavirus (COVID-19) has impacted employers worldwide. This exceptional situation and measures taken to deal with it have significantly affected business life. Employers are trying to adopt temporary measures to ensure the continuity of work, and to protect the health and safety of their employees.

While Turkey’s economy seems to have successfully recovered from a recession, certain risks may threaten its economic health moving forward. The country faced three straight quarters of recession through quarter two 2019, precipitated by a roughly 30% devaluation of the lira. On December 2, the government’s Turkish Statistical Institute (TUIK) announced that the country had grown by 0.9% in the...

On 14 October, President Donald Trump issued Executive Order 13894, Blocking Property and Suspending Entry of Certain Persons Contributing to the Situation in Syria (EO). Please see full Publication below for more information.

Today, we live in a world surrounded by virtual reality. Virtual reality is commonly used in advertising, video games, cinema, entertainment, education, training, simulations, architecture, engineering and the defense industry.

1. What claims may be brought for liability for defective products? Is liability based on fault/ negligence, or strict liability, or both? The primary legislation concerning defective product claims is the Consumer Protection Law (“CPL”). Claims can also be brought in contract under the Code of Obligations or under the Commercial Code... Please see full Chapter below for more...

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...

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...

As more Turkish companies begin to report liquidity issues and economic pressures begin to bite, successful financial restructurings are likely to become increasingly critical to the prosperity of the Turkish economy...

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.

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 their employment is terminated.

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 the horizon.

A detailed new amnesty law entitled "The Law Relating to Restructuring of Tax and Some Other Receivables and Amendments to Various Laws" (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 March 31, 2018 was published in the official Gazette on May 18, 2018.

A Turkish court has requested a Red Notice against reporter Can Dündar, the former chief editor of the Turkish newspaper Cumhuriyet. Authorities charged him with espionage in 2016, alleging that he disclosed state secrets in the course of his reporting.

Following the arrest of a Turkish national employee of the U.S. Embassy in Ankara, the U.S. has suspended all nonimmigrant visa services at its consulates in Turkey. In response, Turkey has suspended all visa services for U.S. citizens at its diplomatic and consular missions in the U.S. Both suspensions will remain in effect until further notice.