Recently re-jigged website and blog gives best English language coverage of Turkish law that we know.
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| Banking, Finance & Capital Markets |
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| New Regime for Share Buybacks
On February 14, 2023, the Capital Markets Board issued a resolution numbered 9/177 to facilitate share buybacks of public companies and their affiliates and to protect investors. Significant amendments to the Communiqué on Portfolio Management Companies The Communiqué Amending the Communiqué on Principles Regarding Portfolio Management Companies and Their Activities was published in the Official Gazette on 18 February 2023. Supreme Court’s Critical Decision Concerning Currency Control Laws The decision of the 12th Civil Chamber of the Supreme Court of Appeals dated October 6, 2022, with File No. 2022/6469 and Decision No. 2022/9954, includes essential remarks regarding the legal consequences … |
| Commercial & Corporate |
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| Corporate Governance and Directors Duties in Turkey Overview
The Q&A gives a high-level overview of corporate governance trends; the main forms of corporate entity used; the corporate governance legal framework … What is the Establishment Process of Joint-Stock and Limited Companies in Turkey? What is the establishment process of Joint-Stock and Limited Companies in Turkey? In Turkey, establishing a company is carried out by following the legal procedures and submitting the necessary documents. Notification Obligation to Tax Office for Registered Transactions in the Trade Registry is Abolished The General Communiqué no. 546 on Tax Procedural Law (the “Communiqué”) which determines the procedures and principles regarding the acceptance of the notifications made electronically … What to Consider When Establishing a Company in Turkey? In this article, we will discuss the issues that should be considered while establishing a company in Turkey. Many issues can be listed when it comes to the points to be considered in the establishment process … Recently, portfolio management companies (PMCs) in Turkey have been growing rapidly in both number and volume. This rapid growth has brought with it the necessity to make amendments to the law on PMCs. Ortaklar?n?n s?n?rl? sorumlu olmas?ndan dolay? en çok tercih edilen ortakl?k türlerinden biri olan anonim ?irketlerde ailevi ve ki?isel konular?n yan? s?ra ?irketlerin performans?nda beklentilerin … Halka Kapal? Anonim ?irketlerde Sona Erme ve Tasfiye Süreci Halka Kapal? Anonim ?irketler’de, tüzel ki?ili?in sona erme halleri; “infisaha” ve “feshe yol açan sebepler” olmak üzere ikiye ayr?lmaktad?r. 6102 say?l? Türk Ticaret Kanun’unda … |
| Competition |
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| Yerinde ?ncelemenin Engellenmesi Nedeniyle Uygulanan ?dari Para Cezalar?na Yerel Mahkemelerin Son Dönemdeki Yakla??mlar?
Rekabet Kurulu’nun 21-27/354-174 say?l? ve 27.05.2021 tarihli karar? ile, Sahibinden Bilgi Teknolojileri Pazarlama ve Ticaret A.?.’nin yerinde incelemeyi engelledi?i/zorla?t?rd??? gerekçesiyle, … Rekabet Kurulu’nun 22-10/152-62 say?l? ve 24.02.2022 tarihli karar? ile; baz? özel sa?l?k kurulu?lar?n?n; centilmenlik anla?malar? ile çal??an transferlerini engellemeleri, çal??an maa? skalalar?n? … On 6 January 2023, the Turkish Competition Authority published its Mergers and Acquisitions Overview Report for 2022 on its website. |
| Data Protection & Privacy |
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| Turkish Data Protection Authority Fines TikTok
Turkish Data Protection Authority fined TikTok for TRY 1.75 million as a result of an investigation commenced against TikTok due to various news and complaints. TikTok uygulamas? ile ilgili olarak aç?k r?zan?n 6698 say?l? Ki?isel Verilerin Korunmas? Kanunu (“Kanun”) kapsam?nda usulüne uygun al?nmad???, ki?isel verilerin elde edilmesi ve saklanmas? hususunda … |
| Dispute Resolution |
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| Esin Arbitration Quarterly
It is time to take a look back at the first months of 2023 and digest the recent updates and developments happening in the world of international arbitration. The Importance of the Arbitral Seat In International Commercial Arbitration Dunning Rievman & MacDonald LLP The arbitral seat is the legal home of the arbitration. Also referred to as the “place of arbitration,” the seat is the relevant connecting factor determining the lex arbitri. Arbitration Procedures and Practice 2023 in Turkey In Turkey, arbitration traditionally evolved as a dispute resolution mechanism, which was used more frequently in large commercial disputes where a foreign party is involved and mostly when a legal counsel … Litigation and Enforcement 2023 in Turkey The main and most commonly used method for resolving large commercial disputes in Turkey is litigation. Civil litigation is based on the principle that the parties to the dispute prepare their case. |
| E-Commerce |
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| Monetary Thresholds are Increased for the Service Providers in Electronic Commerce
Özda??stanl? Ekici Attorney Partnership With a law published on the Official Gazette dated 07 July 2022 and numbered 31889, significant changes were made in the Law on the Regulation of Electronic Commerce with no. 6563. |
| Fintech |
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| Guide to Open Banking Services is Published
The Central Bank of the Republic of Türkiye has published the “Guide to Data Sharing Services in Payment Services” on “open banking” services on 30 December 2022. First Payment on Digital Turkish Lira Network Successfully Made In the scope of the first-phase studies of the Digital Turkish Lira Project led by the Central Bank of the Republic of Türkiye, the first payment transaction on the Digital Turkish Lira Network is successfully stated … |
| Insurance & Reinsurance |
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| The Impact of Climate Change on the Insurance Industry
Climate change, that started as a scientific theory and became the subject of environmental policy and international negotiation refers to the long-term changes in the Earth’s climate… |
| Intellectual Property |
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| SEP: Navigating the Technology-Driven World
Standard-Essential Patents are the concept arising from the interaction between patent rights, which provide exclusive use of an invention and “standards” aimed at the widespread and mandatory use of … As per article 9 of the Regulation on Authorization, which regulates “Abridged Application”, if a pharmaceutical has been authorized before, it is not necessary to repeat the tests and research, … Waiving from IP Rights in the Post-Covid Landscape Since the pandemic seems to lose its impact and life is returning to normal, it may be a good time to look into the lessons learned so far from the Covid-19 pandemic and make necessary preparations against … Key Developments and Predictions for Patent Law in Turkey After adapting to the innovations brought by the Intellectual Property Law and the difficulties, it has brought into practice, this time the Turkish patent system has entered the process of adapting to the changes that … Implementation of the Limitation of Goods and Services by the Turkish Patent and Trademark Office The Turkish Patent and Trademark Office (‘office’) applies the Nice Classification for the classification of goods and services in the registration process of national and international trademarks. |
| Labor & Employment |
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03.03.2023 tarihli ve 32121 say?l? Resmî Gazete’de yay?mlanan Sosyal Sigortalar ve Genel Sa?l?k Sigortas? Kanunu ile 375 Say?l? Kanun Hükmünde Kararnamede De?i?iklik Yap?lmas?na Dair Kanun ile, … Çal??ma ve Sosyal Güvenlik Alan?nda Al?nan Tedbirlere ?li?kin OHAL Cumhurba?kanl??? Kararnamesi 125 say?l? Ola?anüstü Hal Cumhurba?kanl??? Kararnamesi 22/02/2023 tarih ve 32112 say?l? Resmi Gazetede yay?mlanm??t?r. Social Security Agreement between Switzerland and Turkey The Social Security Agreement between Switzerland and Turkey (hereinafter: SSA CH-TR) entered into force on 1 January 1972. Responsibility of the Transferee and the Transferor Employer in the Transfer of Workplace The European Union Directive No. 2001/23 regulates the legal consequences of termination due to the transfer in the event of the transfer of a workplace in terms of labor receivables arising before the transfer. |
| Life Sciences & Healthcare |
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| Development of Telemedicine Activities in Turkey
Telemedicine is one of the areas that are not explicitly regulated under Turkish law. Within the scope of the existing legal framework, the Medical Deontology By-law and Ethical Principles for Physicians … New Regulation on Named Patient Programs is Published Pharmaceuticals that are not authorized in Turkey and/or not available in the market despite being authorized, shall be procured from abroad upon request of physicians and special authorization in cases … Healthcare & Life Sciences Newsletter The Turkish Pharmaceuticals and Medical Devices Authority recently published the Regulation on the Duties, Authorities and Responsibilities of the National Control Laboratory of the TMMDA … |
| Media & Entertainment |
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| Eco-Friendly Advertisements!
When you watch the commercials, do you often feel like advertising companies are working hard to convince you that their products or services are “eco”, “environmentally friendly”, “nature friendly”, “green” … Advertising on TV Broadcasting Under Turkish Law The main pieces of legislation governing broadcast media advertising are Law no. 6112 on “Establishment of Radio and Television Enterprises and their Media Services” and … Licensing Requirements for Broadcasting, License Fees and Paying Royalties “Broadcasting License” means the certificate of permission issued separately for each broadcasting type, technique and network by RTÜK to media service providers to allow them to broadcast using … Local Content Requirements of TV Broadcasting Law no. 6112 on “Establishment of Radio and Television Enterprises and their Media Services” does not prohibit broadcasting in foreign languages; however, broadcasts made in foreign languages shall follow … |
| Restructuring & Insolvency |
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| Konkordatoda Yabanc? Para Alacaklar?n?n Durumu
Borçlunun ifa etmekle yükümlü oldu?u para biriminin ifa yerindeki para biriminden farkl? olmas? durumunda yabanc? para borcundan söz edilecektir. Türk Borçlar Kanunu 99. maddesi uyar?nca yabanc? para alacaklar?n?n … |
| Startup Law & Entrepreneurship |
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| Giri?im Sermayesi Yat?r?m Ortakl?klar?
Günümüzde, ekonomilerin büyüme ve istikrar?n?n sa?lanmas? ad?na benimsenen iktisadi politikalarda giri?imcilik kilit bir faktör olarak kabul edilmektedir. |
| Tax |
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| Restructuring of Customs Receivables
On 27 January 2023, the Draft Law on the Restructuring of Certain Receivables and Amending Certain Laws was submitted to the Turkish Parliament. It includes provisions regarding the restructuring of various public … Ara?t?rma ve Geli?tirme için Ek Kesinti 19 May?s 2019 tarihinde ?sviçre seçmenleri Vergi Reformu ve AHV Finansman? Federal Yasas?n? onaylayarak kantonlara belirli ko?ullar alt?nda ar-ge faaliyetleri için vergi indirimi sa?lama seçene?i sunmu?tur. On 27 January 2023, the Draft Law on the Restructuring of Certain Receivables and Amending Certain Laws (“Draft Law“), referred to as the “tax amnesty of the century,” was submitted to the Turkish Parliament. |
| Technology & Telecoms |
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| Privacy By Design Has Adopted as an ISO Standard
Privacy by Design, which was first proposed by Canadian privacy commissioner Ann Cavoukian fourteen years ago, is now a global privacy standard for the security of consumer goods and services. Digital Transformation Office Announces the Commissioning of BIGDES The Presidency of the Republic of Türkiye Digital Transformation Office announced on 4 January 2023 that the Information and Communication Security Compliance and Audit Monitoring System was commissioned. Draft Principles on Digital Assets and Private Law Opened to Public Opinion As part of the Project on Digital Assets, The International Institute for the Unification of Private Law published Draft Principles on Digital Assets and Private Law on 10 January 2023. Draft Principles has been prepared … NIS2 Directive: New Cyber Security Rules in the EU The NIS 2 Directive on the security of networks and information systems adopted by the European Commission was published in the European Union Official Journal on 27 December 2022 and entered into force on 16 January 2023. |
