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Latest updates and developments from Turkish Jurisdiction

Turkish Law Blog

You can read and follow the latest news on Turkish law and legal regulations from Cosar & Akkaya Law Firm.

HOW PARTNERS CAN WITHDRAW MONEY FROM A TURKISH COMPANY?

HOW PARTNERS CAN WITHDRAW MONEY FROM THE COMPANY ACCORDING TO TURKISH COMMERCIAL LAW?   In companies with a share capital, partners can withdraw money from the company in several different ways. These methods include receiving wages or attendance fees, receiving dividends or borrowing. Each of

HIRING EMPLOYEES IN TURKEY AS A FOREIGN COMPANY

HIRING EMPLOYEES IN TURKEY AS A FOREIGN COMPANY When hiring employees in Turkey, there are several routes which an employer can choose from. In order to comply with employment regulations, foreign companies can establish a legal entity or branch office in Turkey or can get

Cross Border Financial Leasing in Turkey

CROSS BORDER FINANCIAL LEASING IN TURKEY Subject to the satisfaction of several conditions set forth by the relevant regulations; cross-border financial leasing contract in Turkey in which a Lessor residing abroad funds a Lessee residing in Turkey can be concluded. The Law No. 6361 on Financial Leasing, Factoring, and Financing

Turkish Data Protection Law on Cross-Border Transfers of Personal Data from Turkey To Abroad

Turkish Data Protection Law on Cross-border Transfers of personal data from Turkey to abroadTurkish Data Protection Law on cross-border transfers of personal data from Turkey to abroad is the subject of this informative article.Turkish Data Protection Law is also applicable to the foreign companies doing

Penal Clause in Turkish Contract Law

Penal Clause in Turkish Contract LawIt is important to understand the implementation of Penal Clause (or contractual penalty in other words) within the context of Turkish Contract Law before signing any contract in Turkey. A penal clause is considered as a mechanism to force the debtor

How to Get Internet Broadcasting License in Turkey?

How to Get Internet Broadcasting License in Turkey?Obtaining internet broadcasting license in Turkey One of the issues that recently Turkey’s most talked about was the introduction of controls on broadcasts from the Internet. The new arrangement, the Regulation on the Transmission of Radio, Television and On-Demand Services  on the

Compensation Rights Arising from Accidents Occurs In Hotels In Turkey

This post aims to give information about compensation rights arising from accidents occurs in hotels in Turkey from the perspective of Turkish Law on Personal Injury.The rules governing the compensation rights of holidaymakers arising from accidents occurred in tourism facilities (mainly hotels) in Turkey vary

Recognition & Enforcement of UK Judgment in Turkey

The need to get judgements recognised and enforced across national borders has rapidly increased for the last decades as a consequence of globalisation. Yet there is no universal application of rules for recognition and enforcement throughout different jurisdictions. Each country implements its own set of

Turkish Personal Data Protection Board Ruling Search Engine Operators as Data Controllers

Turkish Personal Data Protection Board Ruling Search Engine Operators as Data ControllersPersonal Data Protection Board in Turkey concluded that search engine operators are data controllers for the purpose of Turkish Law on the Protection of Personal Data as the purposes and means of the processing

Escrow Agreements and Trustee Services in Turkey

Escrow Agreements and Trustee Services in TurkeyAs Cosar & Akkaya Law we provide legal escrow and trustee services for our clients pursuant to their needs.Escrow and trustee mechanism is a common practice in transactions aiming to secure the performance of the obligation at a later

Financial Leasing, Factoring & Financing

 FINANCIAL LEASING, FACTORING AND FINANCING COMPANIES IN TURKEY Financial leasing, factoring and financing companies in Turkey are regulated by Banking Regulation and Supervision Agency (BRSA). Any legal entity willing to provide any of the services falling under the scope of financial leasing, factoring or financing in

How to Start a Business in Turkey?

“How to start a business in Turkey?” Turkey host many national and international companies due to its unique trading location and significant importance. To start a business in Turkey as a foreigner it is key to understand business environment of the country, types of legal entities,

What is FinTech Law?

What is FinTech Law?Over recent years, the financial services industry has been experiencing dramatic changes as a result of technological development and digital transformation. The changes can be seen obviously on how the financial services are offered by FinTech companies, customer behaviours in using the

What is Contract Law?

What is Contract Law?Contract is basically a legally enforceable agreement between two or more parties where each party assumes an obligation that must be completed. Contract law can be described as the area of law that governs making contracts, carrying them out and determining a

Turkish Citizenship by Investment

Turkey offers Turkish Citizenship to foreign investors and their eligible family members through the program of Turkish Citizenship by InvestmentTurkey has launched its Turkish Citizenship by Investment Program at the end of 2016 and since then the growing number of investors are joining the program

Company Formation in Turkey

Foreign investors who have questions related to the company formation in Turkey may find below Q&A helpful. For any further inquiry or to hire our commercial team to represent you in company formation in Turkey, please drop an email to info@cosarakkaya.law  1-  Can a foreigner investor

Company Formation in Turkey

Foreign investors who have questions related to the company formation in Turkey may find below Q&A helpful. For any further inquiry or to hire our commercial team to represent you in company formation in Turkey, please drop an email to info@cosarakkaya.law 1-  Can a foreigner investor

Escrow Agreements and Trustee Services in Turkey

As Cosar & Akkaya Law we provide legal escrow and trustee services for our clients pursuant to their needs.

Escrow and trustee mechanism is a common practice in transactions aiming to secure the performance of the obligation at a later time if immediate performance is impossible or not preferred. In other words, escrow agreements secure the payments, especially on conditional agreements.

TURKISH CITIZENSHIP BY INVESTMENT

Turkey offers Turkish Citizenship to foreign investors and their eligible family members through the program of Turkish Citizenship by Investment
Turkey has launched its Turkish Citizenship by Investment Program at the end of 2016 and since then the growing number of investors are joining the program as the investment thresholds were taken down at the end of 2018 to attract more applicants for Turkish Citizenship by Investment.

RECOGNITION AND ENFORCEMENT OF UK JUDGEMENT IN TURKEY

The need to get judgments recognized and enforced across national borders has rapidly increased for the last decades as a consequence of globalization. Yet there is no universal application of rules for recognition and enforcement throughout different jurisdictions. Each country implements its own set of rules and procedures in recognizing and enforcing foreign judgements.

COMPENSATION RIGHTS ARISING FROM ACCIDENTS OCCURS IN HOTELS IN TURKEY

This post aims to give information about compensation rights arising from accidents occurs in hotels in Turkey from the perspective of Turkish Law on Personal Injury. The rules governing the compensation rights of holidaymakers arising from accidents occurred in tourism facilities (mainly hotels) in Turkey

How to get internet broadcasting license in Turkey?

Obtaining internet broadcasting license in Turkey  One of the issues that recently Turkey’s most talked about was the introduction of controls on broadcasts from the Internet. The new arrangement, the Regulation on the Transmission of Radio, Television and On-Demand Services  on the Internet (hereinafter referred to

Penal Clause in Turkish Contract Law

It is important to understand the implementation of Penal Clause (or contractual penalty in other words) within the context of Turkish Contract Law before signing any contract in Turkey. A penal clause is considered as a mechanism to force the debtor to fulfil its obligation duly

Turkish Data Protection Law on cross-border transfers of personal data from Turkey to abroad

Turkish Data Protection Law on cross-border transfers of personal data from Turkey to abroad is the subject of this informative article. Turkish Data Protection Law is also applicable to the foreign companies doing business in Turkey from abroad. Compliance to the rules and procedures in

How to recover your investment in real estate from a contractor in Turkey?

Cosar Akkaya Law Firm assist foreign nationals who are encountering with problems in their Real Estate Investment   It is possible from a legal perspective to recover your investment in real estate from a contractor in Turkey, if such contractor breaches its obligations arising from