webcozumleri

About webcozumleri

http://www.asylegal.com

Posts by :

Liabilities of Board Members of Capital Companies in Turkey

I. Overview The main legislation governing the duties, responsibilities and the liabilities of board members of capital companies in Turkey, (JSCs and LLCs) is the Turkish Commercial Code No. 6102, (TCC). As a rule, the TCC requires the Board Members to act as cautious executives and protect the interests of the company while performing their duties with good faith, which means that no general liability can be stipulated against Board Members in event of damages […]

HEALTH TOURISM INVESTMENTS IN TURKEY

I. Overview Turkey has been a leading force in medical tourism market around the world for some time now. Although the market did take an initial hit with the emergence of Covid-19, it quickly recovered to pre-pandemic numbers once the travel restrictions were lifted. And since then, the number of foreign patients seeking medical and healthcare services in Turkish health institutions and doctors has steadily increased. Total number of foreign patients seeking healthcare services was […]

CAPITAL INVESTMENT IN TURKEY

2. FOREIGN CAPITAL INVESTMENT IN TURKEY There are relatively few capital restrictions imposed upon capital investment in Turkey, and Turkey has also taken steps to ease the complexities and procedures the foreigners need to go through in order to incorporate and/or relocate into Turkey. It is important to note that foreigners are allowed to freely make capital investment in Turkey and are even allowed to have full/sole ownership of a capital company. Although the procedures […]

CORPORATE TAX LAW 102

Tax ID, Cycles, Submission of Declarations & Invoicing in Turkey B. Tax Identification in Turkey Article 2 of the Law No.4358 sets forth that “Public Administrations and offices along with other real and legal persons shall be required to determine the tax ID numbers of real and legal persons who are parties to transactions to be determined by the Ministry of Finance and shall be required to include such tax ID numbers at the relevant […]

CORPORATE TAX LAW 101 – GUIDE FOR FOREIGN INVESTORS

A. Overview Turkey has a complex tax system implemented with numerous separate laws, regulations, communiques and subsequent amendments. Accordingly, the main legal texts regulating the Turkish Tax System are the Tax Procedure Law No. 213 dated January 4, 1961 (Tax Procedure Law), Corporate Tax Law No. 5520 dated June 13, 2006 (Corporate Tax Law), Value Added Tax Law No. 3065 and dated October 25 1984 (Value Added Tax Law), Stamp Tax Law No. 488 and […]

How to Issue Corporate Bonds in Turkey

A Guide to Raising Funds and Issuing Corporate Bonds in Turkey Corporate Bond Issue Limits Since corporate bonds in Turkey are classified as debt instruments, and by virtue as capital markets instruments, they are heavily regulated. Main regulations and restrictions are imposed by the provisions of the Communique and the Board acts as the regulator ensuring legal entities maintain compliance with the rules. Considering the globalized economy and the accessibility of international markets, the Communique […]

Plastic Surgery Malpractice in Turkey – Navigating Medical Malpractice Claims in Turkey

Medical Tourism and Plastic Surgery Malpractice in Turkey The number of plastic surgery malpractice cases filed is rising, as increasing numbers of foreigners are coming to Turkey for medical tourism purposes. Turkey is widely considered a tourism center, as the country offers a wide selection of resorts and different types of tourism across different regions. Although regular tourism took a hit due to Covid-19, the medical tourism sector is still booming, mainly benefiting from competitive […]

8 Principles for Lawful Personal Data Processing in Turkey

Av. Ali Yurtsever L.L.M The implementation of the LPDP also meant additional compliance requirements and liabilities for businesses that control and/or otherwise process personal data. However, attaining full compliance to LPDP and the Data Protection Authority’s (DPA) decisions is no easy task, as businesses are required to implement various measures, from drafting new documents relating to the personal data processing to additional administrative and technical measures as outlined by the DPA. To have a better understanding of the […]

Personal Data Protection in Turkey

Av. Ali Yurtsever L.L.M Fact Check – Does the LPDP Apply to Your Business? One of the main issues with the applicability of the LPDP is that the companies, shareholders, and/or individuals wrongfully interpret the terms noted within the legislation. The most common mistakes concern the terms “data processing” and “data controller”, as most company representatives mistakenly think that storing and processing of data are two different concepts and since they only store personal data they […]

Early Dismissal of Foreign Academics In Turkish Universities

Av. Ali Yurtsever L.L.M II. Wrongful Dismissal of Foreign Academics & Possible Claims The issues briefly summarized above, and the relevant high court precedents are especially important in cases of wrongful early termination of foreign academics, as it directly affects the rights foreign academics can claim with a lawsuit. Typically in a standard employment relationship (subject to Labor Law), wrongfully dismissed employees will have a couple of options, depending on the length of the work time […]