News & Insights

Search with filters

For further information,
please contact:

News & Insights

March 6, 2017

CMB Tightens Turkish Debt Issuers’ Belt While Introducing Facilities for Cross-Border Issuances

Legal Alerts
Capital Markets

Recent Development The Capital Markets Board of Turkey (the “CMB”) amended the Debt Instruments Communiqué (the “Communiqué”). The new amendments are effective as of February 18, 2017. What are the amendments? Under the Communiqué, new rules will apply to the domestic and cross-border issuance of debt instruments: If the upper limit of a multiple issuance […]

March 2, 2017

TİTCK Announces Changes for Certification Process for Cosmetic Products

Legal Alerts
Healthcare

Recent Development The Turkish Medicines and Medical Devices Agency (TİTCK) recently announced changes to the certification process for exported cosmetic products. Accordingly, the web page on the product certification has been updated and certain documents required during the application for export certification have been revised. The revised declaration and undertaking can be found on the […]

February 23, 2017

CMB Shakes the FX Market and Tweakes the Public Disclosure Regime

Legal Alerts
Capital Markets

Recent Development On February 10, 2017, the Capital Markets Board of Turkey (the “CMB”) published amendments to the following communiqués: Communiqué on Principles Regarding Investment Services and Ancillary Services (“Investment Services Communiqué”); Communiqué on Public Disclosure Platform No. VII-128.6 (“Public Disclosure Platform Communiqué”); and Public Disclosure Communiqué No. II-15.1 (“Public Disclosure Communiqué”). The new amendments […]

February 9, 2017

State Assets Transferred to Sovereign Wealth Fund

Legal Alerts
Capital Markets

Recent Development As stated in our previous client alert published in August 2016, the Turkish Sovereign Wealth Fund (Türkiye Varlık Fonu) (“SWF“) was established to finance mega projects and strengthen the Turkish economy. Now, the SWF’s asset portfolio is becoming clearer. Assets Transferred The following state-owned assets were transferred to the SWF: Certain value real […]

February 8, 2017

Breaking Tax Decisions From the Council of Ministers to Encourage Certain Sectors

Legal Alerts
Tax

Recent Development In an effort to enliven the economy in certain sectors, the Council of Ministers has determined new reduced tax rates on special consumption tax, VAT and stamp tax through its Decision No. 2017/9759 published in the Official Gazette on February 3, 2017 (“Decision“) affecting certain sectors. These new tax rates are detailed as […]

February 8, 2017

Turkey Restricts Advertisements of Electronic Communication Services

Legal Alerts
Intellectual Property
Trade & Commerce

Recent Development The Regulation on Commercial Advertisements and Unfair Commercial Practices (the “Advertising Regulation“) was recently amended to introduce brand new provisions on the advertisements of electronic communication services. Background Based on Consumer Protection Law No. 6502, the Advertising Regulation is the main legislation on commercial advertisements directed at consumers. The Advertising Regulation provides detailed […]

February 7, 2017

Turkey Introduces Changes for Clinical Research Process

Legal Alerts
Healthcare

Recent Developments The Turkish Medicines and Medical Devices Agency (TİTCK) recently announced changes to the clinical research process. As of January 19, 2017, certain documents requested during clinical research applications are no longer required. A list of the documents that are no longer required is included in the announcement, which is available at here (in […]

February 6, 2017

Turkey Introduces New Standards for Medical Waste Control

Legal Alerts
Healthcare
Trade & Commerce

Recent Development The Ministry of Environment and Urbanization recently adopted the new Regulation on Control of Medical Waste (the “Medical Waste Regulation”). Based on the Environment Law No. 2872, the purpose of the Medical Waste Regulation is to reestablish the legal, administrative and technical procedures and principles, as well as policies and programs regarding the […]

January 20, 2017

Details of Movable Pledge Revealed

Legal Alerts
Banking & Finance

The Turkish collateralization system was recently updated through the introduction of the Law No. 6750 on Movable Pledges (the “Movable Pledge Law”). Under the Movable Pledge Law, the Ministry of Customs and Trade (the “Ministry”) is authorized to provide for the implementing regulations and, on December 31, 2016, the Ministry introduced the following regulations: Regulation […]

January 18, 2017

Turkey Encourages Foreign Investment by Conferring Citizenship

Legal Alerts
Employment
Real Estate

Recent Development On January 12, 2017, the Council of Ministers amended the Regulation on the Implementation of Turkish Citizenship Law published in the Official Gazette No. 27256 dated June 12, 2009 (“Regulation”). According to the amendment, foreign individuals that invest in Turkey are conferred Turkish citizenship under certain conditions. New conditions for foreign investors to […]

Page: