News & Insight
1. Introduction Having been published on the Official Gazette No. 31401 dated 20.02.2021, the Communiqué on Amendments to the Communiqué on the Execution of the Incorporation Articles of Association of Companies before Trade Registry Directorates (the “Amending Communiqué”) brings significant changes to the Communiqué on the Execution of the Incorporation Articles of Association of Companies […]
According to its legal classification, import of natural gas is a “natural gas market activity”. Activities conducted within Turkish natural gas market are regulated by the Natural Gas Market Act numbered 4646 (“NGMA”) and several regulations and communiques. As one might expect, this is a highly regulated market. Like other natural gas market activities, import […]
Free zones legislation in Turkey offers quite a few advantages for those who are operating in these special trading areas. As a result, incorporating in free zones may be very tempting for those businesses whose operation in Turkey is (or will be) suitable for being conducted within a free zone. This is especially true if […]
As of 01.01.2021, new ICC Rules for Arbitration have become effective. Here in this paper, we would like to outline the revisions that stand-out in the new 2021 ICC Rules. a. Joinders Pursuant to 2017 ICC Rules, unless otherwise is agreed by all parties (including the additional parties), joinders after the confirmation or appointment of […]
As a fast-growing economy in a strategically vital locale between Europe and the Middle East, a robust business community and a young population — Turkey offers many opportunities for foreign investors. Too, in recent months, the Turkish Government has announced a renewed commitment to reform to attract more foreign investment – redoubling a long-standing tradition […]
The UK-Turkey Free Trade Agreement (the “FTA”) was signed on 29.12.2020 by the UK’s International Trade Secretary Liz Truss and Turkey Minister of Commerce, Ruhsar Pekcan in a video-conference call and will be effective as of January 1st, 2021. Although Turkey is not a member of the EU, it has been a member of EU […]
Amendments and additions have been made to the consumer protection legislation with the Regulation Amending the Regulation on Warranty Certificate (the “Warranty Certificate Amending Regulation”), the Regulation Amending the Regulation on After-Sales Services (the “After-Sales Services Amending Regulation”) and the Regulation Amending the Regulation on Introduction and User Manual (the “Introduction and User Manual Amending […]
Having been published on the Official Gazette No. 31322 dated 02.12.2020, the Law No. 7257 Regarding Amendments to the Electricity Market Law and Other Laws (the “Law”) brings important changes to the Value Added Tax Law No. 3065, Natural Gas Market Law No. 4646, Mining Law No. 3213, Public Procurement Law No. 4734, Law No. […]
Having been published on the Official Gazette No. 31322 dated 02.12.2020, the Law No. 7257 Regarding Amendments to the Electricity Market Law and Other Laws (the “Law”) brings important changes to the Value Added Tax Law No. 3065, Natural Gas Market Law No. 4646, Mining Law No. 3213, Public Procurement Law No. 4734, Law No. […]
The Presidential Decree No. 3238 (the “Decree”) regarding extension of application period for short-time working payments has been published on the Official Gazette No. 31321 dated December 1st, 2020. Short-time working allowance period, that was regulated subject to the principles as per the Temporary Article 23 of the Unemployment Insurance Law No. 4447, has been […]