Introduction The pecularities of commercial life render some rules of civil law insufficient for the regulation of commercial transactions, creating a need for special rules. For instance, the rules of the Civil Code applicable to the associations in general but do not apply to various types of other business associations (LLC, Corp. etc). Thus, company…
Turkish law allows foreigners (Non-Turkish citizens) to buy property in Turkey under certain conditions. Under this publication, we intend to advise foreigners how to do the legal works during the official title transfer. In this sense, we do not get into the other discussions of mostly related with property market and finance. 1. Legislation According…
TYPES OF DIVORCE CASES IN TURKEY In practice, that wouldn’t be wrong in saying that there are 2 main type of divorce in Turkey, namely uncontested (settlement agreement) divorce and contested (disputed) divorce. Disputed divorce implies that one of the spouses files a divorce case because of the conflicts with the other party without having a settlement…
Law of succession is a law area which regulates the terms and conditions after the person dies. Turkish inheritance law, as all other modern law systems, is the body of rules applied to determine who will inherit the assets of the deceased and how the assets will be distributed. The totality of the property belonging…
Tax Liability in Joint Stock (“Anonim Şirket”) Companies As it has been known, administration and representation of joint stock companies are carried out by board of directors of the company. Members of board of directors can be elected by general assembly of the company from among shareholders or other third persons and board of directors…
Overview Limited Liable, LLC (“Limited Şirket”) and Joint Stock Type (“Anonim Şirket”) Capital Companies Capital companies are the most common form of business entities in Turkey utilized by both local and foreign investors. Investors may choose to participate into an already existing capital company or establish a new one. 100% ownership of Turkish corporate entities by…
Overview As Turkey maintains economic stability and growth for almost five years, the confidence of the foreign investors raised and new direct investments are executed more often. In this context employee related issues are of consideration to foreign investors and significance of the Turkish Labor Code (‘TLC’) elevate accordingly. Therefore we would like to briefly…
Today, “Turkish Law Related to Residence and Travels of Foreign Subjects” numbered 5683 is applicable regarding the residence permits of foreign subjects in Turkey. This law will be in force until the new Code of “Law on Foreigners and International Protection” will be in force on 11 April 2014. Detailed information regarding the residence permits,…
Companies with foreign capital and foreign real persons may purchase immovable property in Turkey, even though this possibility has certain legal limitations. Within the framework of this Article, the acquisition of immovable property by foreign real persons shall be discussed. ➢ Legal Grounds As per the Land Registry Law No. 2644 (“Land Registry Law”), it…
The issue of recognition and enforcement of foreign court judgments and arbitration awards in Turkey is one of the most vital final key points in international transactions in case the object of the transaction (i.e. the aircraft, goods, assets of debtor, marriage) is situated and the defendant or debtor having its assets and principal place…
