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Recognition and Enforcement of Foreign Arbitration Awards in Turkey: Key Challenges and Solutions

The recognition and enforcement of foreign arbitration awards in Turkey are governed by both domestic legislation and international treaties. As international commercial transactions continue to grow, arbitration has become a preferred method of dispute resolution due to its efficiency, flexibility, and global enforceability. However, for a foreign arbitration award to have legal effect in Turkey, it must go through a recognition and enforcement process, which is not always straightforward. One of the most significant challenges in the […]

How to Successfully Defend Against Antidumping Investigations in Turkey: Essential Guide for Exporters

Antidumping investigations in Turkey, like those conducted globally, are essential safeguards to protect the domestic market from the harmful effects of unfairly priced foreign imports, and exporters need to submit carefully curated information to defend agains antidumping investigations in Turkey. Therefore, it is crucial for foreign producers to understand how to defend against antidumping investigations to avoid the imposition of additional antidumping duties, which can have substantial financial and operational impacts. Antidumping measures are vital […]

Short Term Rentals in Turkey: License Application Procedures & Airbnb Listings of Luxury Residences

The requirement to obtain the unanimous agreement of all condominium owners posed significant operational challenges for property owners, especially for Airbnb listings in metropolitan areas located in apartments with multiple owners subject to condominium law. This is even more problematic for residential units located in newly constructed high-rises marketed as luxury residences with full-service facilities. To remedy these issues, the Regulation on the Organization of Activities for the Rental of Residences for Tourism Purposes (the […]

Recent Constitutional Court Decision Echoes the Importance of Data Protection in M&A Transactions

I. Data Protection Legislation and Rules in Turkey In Turkey, the keystone of data protection legislation is the Law on Personal Data Protection No. 6698 (the LPDP), which established a comprehensive framework for handling personal data. The LPDP was a significant step towards aligning Turkish law with international data protection standards, particularly the European Union’s General Data Protection Regulation (GDPR). Key provisions of the LPDP include the requirement for explicit consent for data processing, data […]

Key Changes to Turkish Citizenship Applications: 2023 Updates

Changes in Turkish Citizenship Application Process: a. In-Person Application Requirement A pivotal change in the Turkish citizenship application process is the introduction of a compulsory in-person presence requirement. This significant shift mandates the physical presence of applicants in Turkey on the application day, marking a departure from the previous provision that allowed initiation of the citizenship process from abroad. This new stipulation underscores the Turkish government’s emphasis on a tangible commitment from investors to the […]

Increased Minimum Capital Requirement for Joint Stock and Limited Liability Companies

Under this Decree, the minimum capital requirement for joint stock companies, as outlined in Article 332 of the TCC, has escalated from 50,000 TRY to 250,000 TRY. For non-public joint stock companies operating under the registered capital system, the threshold has risen from 100,000 TRY to 500,000 TRY. Moreover, for limited liability companies governed by Article 580, the minimum capital has surged from 10,000 TRY to 50,000 TRY. These heightened capital requirements are set to […]

Challenges in Name Change During and After the Acquisition of the Turkish Citizenship by Investment

The process of name change during Turkish citizenship acquisition presents a unique set of challenges. It’s not just about the legal procedures that vary from country to country; it’s also about navigating the cultural implications in Turkey, a nation with a profound heritage and distinct identity norms. This introduction delves into the realms of legal requirements, cultural sensitivities, and personal identity shifts that accompany the name change decision in Turkey. It highlights the practical aspects, […]

Share Transfers in Joint Stock Companies

Key Insights from the Constitutional Court: Share Transfer Legitimacy in Joint Stock Companies

I. The Constitutional Court’s Decision: Context and Legal Background This landmark case before the Turkish Constitutional Court arose from the tumultuous aftermath of the July 15th coup attempt. Central to the dispute are allegations of property rights violations during the transfer of shares in a joint-stock company, specifically, Karbon Yıldırım Consulting Services Joint Stock Company, linked to YK Law Partnership partners C.Y. and M.K. The focal point is a prime real estate in Istanbul’s Astoria […]

Short-Term Rental Regulations in Turkey, airbnb

Short-Term Rental Regulations in Turkey: New Legal Framework and Impact on AIRBNB Rentals

The new law aims to place short-term rental transactions within a certain legal framework, contribute to the regulation of the tourism sector, and establish clear and understandable rules for both property owners and tenants. With this law, issues such as the obligation to obtain a permit for the tourism-purposed short-term leasing of residences, administrative sanctions, and the characteristics of the permit have been legally structured. 2024 Update: Clarifications regarding the application procedures and exemptions […]

Electricity Licensing in Turkey: An In-Depth Guide to Market Regulations

I. General Principles for Electricity Licensing In Turkey a. Overview To participate in the Turkish electricity market, entities must adhere to a set of general licensing principles. First and foremost, license holders must be private legal entities established in accordance with the Turkish Commercial Code (TCC). They typically take the form of either joint-stock companies or limited companies. For joint-stock companies, it’s mandatory that all shares, except those traded on the stock exchange under capital […]