DECISION ON AMENDMENT OF DECISION NO. 32 ON PROTECTING THE VALUE OF TURKISH CURRENCY
As it is known, in accordance with the "Decision on Amendments to the Decision No. 32 on the Protection of the Value of the Turkish Currency", which came into force after being published in the Official Gazette dated September 13, 2018, changes were made in some contracts in which payment in foreign currency was agreed. Pursuant to this decision, persons residing in Turkey may purchase and sell movable and real estate among themselves, except in cases determined by the Ministry.
Acquisition of Real Estate by Companies with Foreign Capital in Turkey
1.Legal Base Acquisition of Real Estate by Companies with Foreign Capital is regulated in “Regulation on Acquisition of Real Estate by Companies with Foreign Capital” has been enacted on 16.08.2012 (Official Gazette No. 28386) (“The Regulation”). The legal basis for foreign real persons, foreign companies which are not established in Turkey and companies for foreign […]
Compensation Rights of the Employees Under Turkish Law
Compensation Rights of the Employees Under Turkish Law Upon termination of an employment agreement, the employee holds the right to demand severance and notice payments from the employer. Although this defined in the legislation, the Labor Law states that the contracting parties may agree higher levels of compensation in the employment agreement but may not […]
Establishing a business in Turkey
Establishing a business in Turkey ESTABLISH A BUSINESS IN TURKEY If you wish to set up a business in Turkey, it is possible to establish a new company or establish a branch of the company that is already established in a foreign company. Below is a short information on these two alternatives. 1. Branch: […]
PURCHASING REAL ESTATE IN TURKEY: A GUIDE FOR FOREIGN PERSONS
This guide aims to help foreigners who wish to acquire real estate in Turkey and guide them to prevent facing any legal problems throughout the process. Our Firm provides full-service legal consultancy regarding acquisition of a real estate in Turkey 1.Legal Base : In May 2012, Turkish Government amended “The Code of Land Registry and […]
URBAN TRANSFORMATION IN TURKEY: OPPORTUNITIES FOR FOREIGN INVESTORS
URBAN TRANSFORMATION has always been on Turkey's agenda especially after the 1999 earthquake that occurred at Marmara Region, nearby Istanbul. However, the government decided to take concrete steps towards the demolition of illegal/risky buildings and the renewal of aged buildings in 2012 after another major earthquake that happened in 2011 at the eastern border of Turkey. […]
Current Changes in Urban Transformation Legislation
The urban transformation process, which has been implemented recently especially in the Kadıköy region, continues despite the deficiencies in the legislation. The application recently made by the Republican People's Party to the Constitutional Court has been preserved as it is, called the 2/3 rule, which attracted the reaction of many citizens, as a result of the evaluation made by the Court, on the grounds that public security is prioritized. The most important regulation brought by the court is the opposition to the actions of the Administration [...]
ERRORS MADE IN THE ISSUANCE AND PURCHASE OF EXCHANGE BILLS
Due to some mistakes and legal gaps in the issuance and receipt of checks and bills, which are frequently used in the business world, various problems are encountered during the tracking of these valuable documents. While enforcement offices are struggling with millions of enforcement proceedings, creditors may pay a price higher than the amounts they are obliged to pay in collecting their receivables. Prepared in the light of doctrine[1] and Supreme Court decisions […]
Omnibus Law No. 6552
INFORMATION NOTE ON THE LAW CONCERNING THE AMENDMENTS OF THE LABOR LAW AND SOME LAWS AND DECISIONS AND THE RESTRUCTURING OF SOME RECEIVABLES The Presidency of the Grand National Assembly of Turkey has prepared an Information Note regarding the innovations brought by the Omnibus Law. Due to the importance of the subject, we present the information note to your attention. (LAW NO: 6552) 10.9.2014 GNAT BUDGET DIRECTORATE CONTENTS SOMA MINE ACCIDENT AND THE MINE SECTOR […]
Possible effects of the amendment regarding Suspension of Judicial Proceedings for companies in practice
Possible effects of the amendment regarding the Suspension of Judicial Periods on companies in practice. As it is known, the coronavirus (COVID-19), which emerged in Wuhan, China in December 2019, became an epidemic worldwide in a short time, and with the official statement made by the Ministry of Health on 11 March 2020. It has been announced to the public that the first case of coronavirus (COVID-19) has been detected in our country. In this context, the Republic of Türkiye […]
