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Foreign Direct Investment Law Practice Regulations
Certain provisions of the Regulation on Foreign Direct Investment Law (published in the Official Gazette dated August, 8 2003 and numbered 25205) have been amended on July 3, 2012. The Ministry is authorized to give permission to open a liaison office and to extend the duration of these permits for companies established under the laws of the foreign country but which carry out commercial activities in Turkey. This regulation also covers the documents needed to open a liaison office and the operating period of these offices.
The Regulation on Audit of Trade Companies by Ministry of Customs and Trade was published on August, 28 2012. The Regulation sets out the procedures of the audit. It also regulates the principles and procedures for auditing these processes by the Ministry. Audit of other actions subject to law is also covered.
The Communiqué on Cumulative Voting in General Assembly for Non-Public Joint Stock Companies was published on August, 29 2012. The Communiqué covers voting of the shareholders that do not have a majority.
The Communiqué was published on August, 29 2012. The Communiqué covers principles and procedures of the meetings of the board of directors, board of managers, board of partners and general assembly. Issues such as the administration of the meeting, notification of participation in electronic form are also covered.
The Communiqué on Electronic System Procedure in General Assembly of the Joint-Stock Companies was published on August, 29 2012. This Communiqué relates to how to participate in the general assemblies in electronic form, make suggestions, comments, to vote. It also covers technical issues and identification of the principles and procedures relating to security criteria of the establishment of an electronic system for general Assembly.
About Pekin & Pekin
Pekin & Pekin is a full-service Turkish law firm based in Istanbul. The Firm advises on cross-border transactions in Turkey and the region, and over the 40 years since establishment has gained broad experience in both international and Turkish law. A member of Lex Mundi, TerraLex and SEE Legal, and advisor to ISDA and ICMA, the Firm is committed to excellence and has a culture of participation and success, driving all to exceed client objectives.
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