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News & Insights

September 21, 2018

Amendments to Zoning Peace

Legal Alerts
Real Estate

Recent Development The Communiqué on the Amendment to the Procedures and Principles for the Issuance of Building Registration Certificates (“Communiqué“) was published in the Official Gazette No. 30541 and dated September 20, 2018. What’s New? The Communiqué clarifies several matters of the application process for obtaining building registration certificates issued for buildings violating the zoning […]

September 19, 2018

The Communique regarding Capital Loss and Negative Equity Stipulated Under Article 376 of the Turkish Commercial Code Numbered 6102 Is Published.

Legal Alerts
Corporate

Recent Development The Communiqué on the Procedures and Principles Regarding the Application of Article 376 of the Turkish Commercial Code No. 6102 (“Communiqué“) was published in the Official Gazette on September 15, 2018. The Communiqué addresses the principles and procedures regarding capital loss and negative equity. What does the Communiqué Say? The recent decline of the […]

September 18, 2018

Ministry to Define FX Payment Ban Exemptions

Legal Alerts
Banking & Finance

Recent Developments The amendments to the Decree No. 32 Regarding the Protection of the Value of the Turkish Currency (“Decree No. 32“) published in the Official Gazette on September 13, 2018 introduced a ban on FX and FX-indexed payments for agreements concerning the sale and purchase of real estate and movable properties; the leasing of […]

September 14, 2018

BRSA Introduces Draft Law to Facilitate Financial Restructuring

Legal Alerts
Banking & Finance

Recent Developments The Banks Association of Turkey (“BAT”) distributed to its members the Draft Law on the Restructuring of Debts Owed to the Financial Sector (“Draft Law”) prepared by the Banking Regulatory and Supervisory Authority (“BRSA”). What’s New? If the Draft Law enters into force, the provisions in the Regulation on the Restructuring of Debts […]

September 13, 2018

Turkey Restructures Consumer Boards

Legal Alerts
International Commercial and Trade

Recent Development The Ministry of Trade (“Ministry”) recently announced on its website the restructure of consumer boards’ organization; which entails closing down of 800 consumer boards as of August 1, 2019. The powers of the remaining 211 consumer boards will be increased. What’s New? The Ministry announced that the establishment of the Consumer Information System […]

September 13, 2018

FX Payment Ban on Certain Resident-to-Resident Transactions

Legal Alerts
Banking & Finance

Recent Development The amendments to the Decree No. 32 Regarding the Protection of the Value of the Turkish Currency (“Decree No. 32“) published in the Official Gazette on September 13, 2018 restrict FX and FX-indexed payments for certain resident-to-resident transactions. What Does the Amendment Say? With this amendment, it is no longer legally possible to […]

September 12, 2018

Turkey Publishes Draft Regulation on Medical Devices Manufactured Utilizing Animal Origin Tissue

Legal Alerts
Healthcare

Recent Development The Turkish Medicines and Medical Devices Agency (“TİTCK”) recently published on its website the draft Regulation on Medical Devices Manufactured Utilizing Animal Origin Tissue (“Regulation”). What’s New? In the scope of EU harmonization, the draft Regulation was prepared based on EU Regulation No. 722/2012 to establish the particular requirements for introducing into the […]

September 7, 2018

State of Emergency Lifted

Legal Alerts

Turkey’s state of emergency (“SoE”) was lifted on July 18, 2018. Following an attempted coup on July 15, 2016, the Council of Ministers issued a decision declaring a SoE. The SoE term was extended for additional three-month periods. The latest SoE term was not extended, effectively ending the SoE as of July 18, 2018. Parliament […]

September 7, 2018

Turkish Patent and Trademark Office Filing Fees Reduced Under the Support Package of Ministry of Industry and Technology

Legal Alerts
Intellectual Property

Recent Development The Support and Austerity Package (“Package”) prepared by the Ministry of Industry and Technology (“Ministry”) for businessmen, small and medium sized enterprises (“SME”) and entrepreneurs was announced. The developments on intellectual property came into force under the Communiqué Pertaining to the Amendment of the Communiqué on the Turkish Patent and Trademark Office Fee […]

September 6, 2018

Turkey Introduces Export Proceeds Obligations

Legal Alerts
Tax

Recent Development The Ministry of Treasury and Finance published the Communiqué No. 2018-32/48 on the Decree No. 32 on the Protection of the Value of Turkish Currency (“Communiqué“), introducing an obligation for Turkish resident exporters to bring export proceeds into Turkey. The Communiqué, which entered into force through its publication on the Official Gazette on […]

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