THE MINISTRY OF TREASURY AND FINANCE PUBLISHED AN ANNOUNCEMENT ON THE MINISTRY’S WEB SITE REGARDING THE CONTRACT VALUES IN FOREIGN EXCHANGE OR INDEX TO THE FOREIGN EXCHANGE IN 2018
By making amendments to the Decree No. 32 on the Protection of the Value of Turkish Currency with the Presidential Decree No. 85 dated 12.09.2018, published in the Official Gazette, it is made regulations for the residents in Turkey, with some exceptions, regarding not to do contract containing the price of foreign currency or foreign […]
NEW REGULATION FOR THE FOREIGN COMPANY FOUNDERS’ STATEMENT OF SIGNATURES THAT IS NECESSARY TO PRESENT TO THE TRADE REGISTRIES
EASING THE PROCESS OF RECEIVING THE GOVERNMENTAL AUTHORITY APPROVAL FOR THE STATEMENT OF SIGNATURES THAT IS NECESSARY FOR COMPANY FOUNDERS TO PRESENT TO THE TRADE REGISTRY FOR THE FOUNDERS WHO RESIDE ABROAD While establishing a Company in accordance with the Turkish regulations, first, the Company founders/shareholders shall record and register the Company in the Registry […]
The Decree on Support to be Provided in Specialized Free Zones
The Decree on Support to be Provided in Specialized Free Zones Has Come into Force For the expenses regarding the activities in specialized free zones of users and zone operators to be covered by Support and Price Stabilization Fund, A Presidential Decree no.2635 titled “Decree on Support to be Provided in Specialized Free Zones” has […]
Highlights of the “Economic Stability Shield Package” dated 18.03.2020
On 18.03.2019, with a package called the “Economic Stability Shield Package”, the Republic of Turkey Government has declared certain supports to the economy to deal with the COVID- 19 pandemic. Measures implemented within this framework are as follows: Postponement for 6 months the SSI premiums and the VAT stoppage of the months April, May and […]
TURKISH CENTRAL SECURITIES DEPOSITORY STARTED TO PROVIDE ELECTRONIC BOARD OF DIRECTORS MEETING SERVICES
Abstract : Merkezi Kayıt Kuruluşu A.Ş. (MKK) which provides its members with registration, settlement and custody services as the Central Securities Depository of the Turkish capital markets started to provide electronic board of directors meeting services to all capital companies, whether they are publicly held or not. “e-BDS”, in other words “Electronic Board of Directors […]
Major Amendments Regarding the Code numbered 7192 on Payment Services, E-Currencies and Open Banking
Abstract Upon developing fields in Turkey such as e-commerce and Fintech, it has been needed new regulations regarding the global integration of payment systems and e-currencies. In this regard, The Code numbered 7192 on Payment and Securities Settlement Systems, Payment Services and Electronic Money Organisations and amendments to related Law” (“Code’’) has entered into force […]
THE PRINCIPLE OF CLASSIFICATION AND ITS EFFECT ON TRADEMARK DISCLAIMER
ABSTRACT According to Industrial Property Law; trademark is defined as words, figures, colors, letters, numbers, sounds, and the form of goods or packaging, including the names of persons so as to ensure a clear and precise understanding of the subject of protection provided to the owner. Accordingly, it’s very important that whether trademarks cause confusion, […]
CONSEQUENCES OF PREMATURE TERMINATION OF LEASE AGREEMENTS BETWEEN MERCHANTS
I. SUMMARY In the lease agreements, the Lessee and the Lessor may decide to terminate the contract early. In the event of premature termination of the lease agreements, a penal clause may be agreed in the contract to prevent the parties from avoiding the performance of their obligations arising from the lease agreement. Excessive amount […]
FINANCIAL RESTRUCTURE APPLICATION IS NOW APPLICABLE FOR THE SMALL SCALE COMPANIES AS WELL!
ABSTRACT: With the announcement of The Banks Association of Turkey (“TBB”) dated 14.10.2019, it is stated that a Restructure Framework Agreement has been issued in order to benefit the Financial Restructuring (“FR”) implementation for large scale companies that have a credit debt of at least 25 million TL. With the announcement of TBB dated 08.11.2019, […]
THOSE WHO CAN BENEFIT FROM FINANCIAL RESTRUCTURE APPLICATION WITH THE LARGE SCALE COMPANY THAT HAS CREDIT DEBT AT LEAST TRY 25 MILLION
ABSTRACT: With the announcement of The Banks Association of Turkey (“TBB”) dated 14.10.2019, it is stated that a Restructure Framework Agreement has been issued in order to benefit the Financial Restructuring (“FR”) implementation for large scale companies that have a credit debt of at least TRY 25 million. EXPLANATIONS: Purpose and Content of the […]
