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News & Insights

May 6, 2018

How will the new FX borrowing restrictions affect acquisition finance/ leveraged buy-outs and project finance?

Legal Alerts
Banking & Finance

Recent Development The Council of Ministers published a decree amending the Decree No. 32 on the Protection of the Value of the Turkish Currency (“Decree No. 32“) in the Official Gazette No. 30312 on 25 January 2018. Pursuant to the amendments, as a general rule, the Turkish resident companies must have sufficient foreign exchange income […]

May 4, 2018

FX borrowing restrictions in Turkey softened

Legal Alerts
Banking & Finance

Recent Development The Council of Ministers published a decree amending the Decree No. 32 on the Protection of the Value of the Turkish Currency (“Decree No. 32“) in the Official Gazette No. 30312 on 25 January 2018. The Central Bank of the Republic of Turkey (“Central Bank“) abolished the Capital Movement Circular No. 2002/YB-1 and […]

May 3, 2018

Parliament Legalizes RTÜK Internet Supervision

Legal Alerts
IT & Communications

Recent Development The Turkish Parliament passed the Law on the Amendments to the Tax Laws and Certain Laws and Decrees, adding a new Article 29/A to Law No. 6112 on the Establishment of Radio and Television Enterprises and Media Services (“Broadcasting Law“), which entered into effect by publication on the Official Gazette on March 21, […]

April 25, 2018

Natural Gas Market Licensing Regulation Amended

Legal Alerts
EMI

Recent Development The Energy Market Regulatory Authority (“Authority”) amended the Natural Gas Market Licensing Regulation (“Regulation”). The amendment was published in the Official Gazette No. 30394 dated April 17, 2018 (“Amendment”) and entered into force on the same date. What’s New? 1. Conclusion of Applications Allocated Between the Authority and the Board Prior to the […]

April 12, 2018

Turkey Publishes Preparation Guidelines on Turkish Pharmacopeia

Legal Alerts
Healthcare

Recent Development The Turkish Medicines and Medical Devices Agency (“TITCK”) recently published on its website the Preparation Guidelines for the Turkish Pharmacopeia (“Guidelines“). Background Pharmacopoeia refers to a document containing national and international rules and methods that must be legally and scientifically complied with, including the physicochemical features of the active and inactive substances used […]

April 11, 2018

Turkey to Adopt New Law on Product Safety and Technical Legislation

Legal Alerts
International Commercial and Trade

Recent Development The Ministry of Economy (“Ministry”) recently presented the draft Law on Product Safety and Technical Legislation (“Draft Law”) for public consultation. The Draft Law introduces significant rules regulating product safety principles and compliance with the technical legislation. What’s New? The Draft Law aims to update and harmonize the rules and principles on product […]

April 11, 2018

FIDIC Rainbow Suite Second Editions Unveiled

Legal Alerts
Dispute Resolution

Recent Development On December 5, 2017, the Fédération Internationale des Ingénieurs-Conseils (FIDIC) launched the second edition of the FIDIC Rainbow Suite of Contracts 2017 at the FIDIC International Users’ Conference in London. The FIDIC 1999 Yellow Book (Conditions of Contract for Plant and Design-Build), the FIDIC 1999 Silver Book (Conditions of Contract for EPC/Turnkey Projects), […]

April 10, 2018

Significant Amendments to the VAT Law

Legal Alerts
Tax

Recent development The Law No. 7104 Amending the VAT Law and Certain Laws and Law Decree No. 178 (“Law No. 7104“) was published on the Official Gazette No. 30383 dated 6 April 2018. This legal alert lays out the most significant amendments made to the VAT Law through Law No. 7104. What are the amendments? […]

March 26, 2018

Code of Enforcement and Bankruptcy Amendments to Strengthen the Investment Environment in Turkey

Legal Alerts
Dispute Resolution

Recent Development The Law on the Amendments to the Code of Enforcement and Bankruptcy and Certain Laws (“Law No. 7101”) was published on the Official Gazette on March 15, 2018. Background As a result of the studies conducted by the Coordination Council for the Improvement of the Investment Environment, the Law No. 7101 was introduced […]

March 26, 2018

Data Protection Authority Publishes Communiqués on Notice Requirement

Legal Alerts
IT & Communications

Recent Development The Personal Data Protection Authority (“Authority“) published the Communiqué on Procedures and Principles on Notice Requirement (“Notice Communiqué) and the Communiqué on Procedures and Principles for the Application to Data Controller (“Application Communiqué “) on the Official Gazette of March 10, 2018. What Do the Communiqués Say? The communiqués are based on Articles […]

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