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Press releases and law firm thought leadership

This page is dedicated to keeping readers informed of the latest news and thought leadership articles from law firms across the globe.

If your firm wishes to publish press releases or articles, please contact Shehab Khurshid on +44 (0) 207 396 5689 or shehab.khurshid@legalease.co.uk

 

Legal Developments Worldwide

Articles contributed by Baspinar & Partners Law Firm

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The Constitutional Court abolished the Article 16/5 of the Decree Law numbered 556

May 2015 - Intellectual Property. Legal Developments by Baspinar & Partners Law Firm.

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The Constitutional Court abolished the Article 16/5 of the Decree Law numbered 556.

Upon the application of the Ankara 3rd Civil Court for Intellectual and Industrial Property Rights, the Constitutional Court reviewed the Article 16/5 of the Decree Law numbered 556 which states that it is mandatory to transfer the trademarks of goods and services which are confusingly similar to the registered trademark to be transferred.

Installment Sales

May 2015 - Corporate & Commercial. Legal Developments by Baspinar & Partners Law Firm.

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The Regulation About Installment Sales ("The Regulation") entered into force by being published in the Official Gazette on 14th January 2015. Although the title is 'installment sales'; the main subject of the Regulation is financial leasing agreements. It is important to be careful not to confuse the installment sales with the prepaid sales. In prepaid sales the buyer have the possession of the sold movable property after completing the payment. However in installment sales the buyer gets the property immediately and then makes the payment. Moreover the sales made by credit cards are not the subject of this Regulation.

 

Unfair Competition

May 2015 - EU & Competition. Legal Developments by Baspinar & Partners Law Firm.

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Unfair competition is regulated in the Turkish Commercial Code ("TCC") Law No: 6102 and the Competition Law On the Protection of Competition ("The Competition Law"), Law No: 4054.

The Principles And Procedures To Apply To Factoring Transactions

May 2015 - Corporate & Commercial. Legal Developments by Baspinar & Partners Law Firm.

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The Banking Regulation and Supervision Authority ("BRSA") of Turkey published the Regulation on the Principles and Procedures to Apply to Factoring Transactions (the "Regulation") in the Official Gazette on February 4, 2015.

The Regulation provides the principles and procedures that shall be applied by the factoring companies and banks for their factoring transactions. The Regulation is issued based on article 1, second paragraph of article 9 and first paragraph of article 38 of the Financial Leasing, Factoring and Financing Companies Law dated 21.11.2012 (Law No: 6361).


Patent and Utility Model

May 2015 - Intellectual Property. Legal Developments by Baspinar & Partners Law Firm.

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The patent and the utility model are regulated in the Decree No. 551 dated 1995 Concerning to the Protection of Patent Rights ("PDL"). Obviously patent and utility models are not completely two different rights; however there are some specific measures differentiating them. In this article we will discuss important points of these rights.

Interim Relief

May 2015 - Litigation & Dispute Resolution. Legal Developments by Baspinar & Partners Law Firm.

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The Interim Relief is regulated under the Turkish Procedural Law numbered 6100 ("TPL"). According to the legislation, the court can provide any kind of interim relief that has the effect of preventing the claimant incurring damages before resolution of his claim or, such as (i) freezing or securing goods or rights, (ii) ordering the defendant to take, or not to take, a certain action (for example, annotation to the title deed preventing its transfer, prohibiting the transfer of shares of a company, and so on).

How to Acquire Turkish Citizenship

April 2015 - Employment. Legal Developments by Baspinar & Partners Law Firm.

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The information provided in this article is intended to give a general overview on how to acquire Turkish citizenship. The principles and procedures relating to the acquisition and loss of Turkish citizenship are regulated under Law on Turkish Citizenship, numbered 5901.

Law on Expropriation

April 2015 - Real Estate & Property. Legal Developments by Baspinar & Partners Law Firm.

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The main legislation related to the expropriation is the Law on Expropriation numbered 2942 and dated 04.11.1983. ("LoE") In order to conduct the public services the administrations can expropriate the real estates, resources and easement rights provided that their values are paid in cash or installments.

Installment Sales

April 2015 - Corporate & Commercial. Legal Developments by Baspinar & Partners Law Firm.

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The Regulation About Installment Sales ("The Regulation") entered into force by being published in the Official Gazette on 14th January 2015. Although the title is 'installment sales'; the main subject of the Regulation is financial leasing agreements. It is important to be careful not to confuse the installment sales with the prepaid sales. In prepaid sales the buyer have the possession of the sold movable property after completing the payment. However in installment sales the buyer gets the property immediately and then makes the payment. Moreover the sales made by credit cards are not the subject of this Regulation.

The Principles And Procedures To Apply To Factoring Transactions

April 2015 - Corporate & Commercial. Legal Developments by Baspinar & Partners Law Firm.

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The Banking Regulation and Supervision Authority ("BRSA") of Turkey published the Regulation on the Principles and Procedures to Apply to Factoring Transactions (the "Regulation") in the Official Gazette on February 4, 2015.

The Regulation provides the principles and procedures that shall be applied by the factoring companies and banks for their factoring transactions. The Regulation is issued based on article 1, second paragraph of article 9 and first paragraph of article 38 of the Financial Leasing, Factoring and Financing Companies Law dated 21.11.2012 (Law No: 6361).


Trademark Pledge

April 2015 - Intellectual Property. Legal Developments by Baspinar & Partners Law Firm.

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Trademark pledge is one of pledge types on movable assets. Decree Law No. 556 dated 1995 Concerning to the Protection of Trademarks ("TDL") allows pledging the trademark and refers to the Turkish Civil Code ("TCC") for detailed regulations. Although a regulation exists, the trademark pledge is not frequently applied in Turkey and there are some loopholes that need to be clarified during the application of trademark pledge. The applicability will increase in the same direction with the value of the local trademarks of the country.

 

Unfair Competition

April 2015 - EU & Competition. Legal Developments by Baspinar & Partners Law Firm.

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Unfair competition is regulated in the Turkish Commercial Code ("TCC") Law No: 6102 and the Competition Law On the Protection of Competition ("The Competition Law"), Law No: 4054.

 

Shopping Center Lease Agreements

October 2014 - Real Estate & Property. Legal Developments by Baspinar & Partners Law Firm.

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In Turkey, especially in Istanbul shopping centers increase in number, as an important constituent of the business life. Some of those are extremely beneficial, even sometimes lessee candidates afford to pay key money to current lessee in order to hold a released store. Besides that there are some projects where the lessee does not make even just one sell until the closing. Before deciding to being a part of any project it is inevitable to make a thoroughly market investigation. Lease Agreement is one of the most important parts of this investigation.

 


 

Re-employment Lawsuits

October 2014 - Employment. Legal Developments by Baspinar & Partners Law Firm.

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The Labor Law numbered 4857 regulates the relationship between the employee and the employer. In this article the re-employment lawsuits will be explained in the light of Turkish Law.

 

 

Re-employment Lawsuits

October 2014 - Corporate & Commercial. Legal Developments by Baspinar & Partners Law Firm.

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The Labor Law numbered 4857 regulates the relationship between the employee and the employer. In this article the re-employment lawsuits will be explained in the light of Turkish Law.

In accordance with the Labor Law; if the employer terminates the employment contract for an invalid reason, the employee may sue the employer. There are some necessary conditions to file a re-employment lawsuit.

       i.         The employee should be working as defined under the Labor Law,

     ii.         The indefinite term employment contract between the employer and the employee,

    iii.         Termination of the employment contract by the employer,

    iv.         Invalid reason for the termination,

      v.         The employee‚Äôs six months work in the workplace,

    vi.         At least 30 or more employees should be working in the workplace,

   vii.         Termination based on an invalid reason,

 viii.         Not being a representative of the employer.

Besides these, the employee must file a re-employment lawsuit within one month following the date of receiving the notice of termination letter. On the other hand, the employer is obliged to prove that the termination based on a valid reason. However the burden of proof is on the employee if the employee claims that the termination is based on a different reason from the reason given by the employer for termination.

According to the accelerated trial procedure, the case must be concluded within two months. In case of an appealed decision, the Court of Appeal gives the final decision within one month.

The employee may request to return to work and the termination to be invalidated. The court examines the re-employment terms and termination reasons. In case the court concludes that the termination is based on an invalid reason, the employee is obliged to re-engage the employee or be liable to pay the compensation.

The employee should apply to the employer within 10 working days from the notice of court decision. Subsequently the employer should re-engage the employee within one month from this application. If the employee does not make any application within ten days, termination will be deemed to valid. As we mentioned, if the employer does not want the employee start to work, the employer will pay the compensation. This compensation is not less than the employee’s four months wages and not more than the employee’s eight months wages.

If the case is dismissed, the employee is liable for the legal expenses. At this point, the employee may request the unpaid severance and notice pay and other fees from the employer with a separate lawsuit.

Consequently if the employee has the conditions for re-employment lawsuits and the termination of the employment contract is based on an invalid reason, the Labor Law allows employees to be re-employed and to be paid compensations for days off.

 

Penalty Provisions in Trademark Law

October 2014 - Intellectual Property. Legal Developments by Baspinar & Partners Law Firm.

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Trademark is an absolute right. Therefore, legislative regulations aim protecting this right, moreover the regulations contain punitive articles and other sanctions. In this newsletter the punitive articles and sanctions mentioned will be explained with the practice field, in consideration of Turkish Law.

In the first place we had better express ‚Äėthe principle of legality' which is a basic notion in Criminal Law: in the Constitution of the Turkish Republic, the punitive articles must be arranged by a code, however a decree law regulates the trademark issue. Therefore the punitive articles in the decree law could not be applied until the year 2009, the acceptance a new code including the punitive articles of Decree Law No. 556 dated 1995 Concerning to the Protection of Trade Marks ("TDL"). Now punitive articles about the trademark are applicable and entirely legal in Turkey.


Right to Construction

October 2014 - Real Estate & Property. Legal Developments by Baspinar & Partners Law Firm.

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One of the main principles of Turkish Civil Law is that if a person owns a land, all the additions and integral parts of this land shall be automatically owned by this proprietor. It means that if a building constructed on a land, owner of the land shall be the owner of this building. However, Turkish Civil Law allows you to be the owner of a building on surface or underground of someone else's land; the right of construction, which is regulated under the Article 726 and Article 826 of Turkish Civil Code.

Profits Generated from Shares Acquired without Cost

October 2014 - Corporate & Commercial. Legal Developments by Baspinar & Partners Law Firm.

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Introduction General Communiqué on Corporate Tax Law Nr. 1 - Section 5.6.2.4.3 Status of the Profits Generated from Shares Acquired without Cost ("General Communiqué") regulates Corporates who acquired shares without cost by Capital Increase transactions carried out through using profit reserves.

Limited Company Expenses in Turkey

July 2014 - Corporate & Commercial. Legal Developments by Baspinar & Partners Law Firm.

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1. Limited Companies Establishment Expenses

Limited companies can be established by at least 1 real person or legal entity with a minimum capital of TL 10.000 (app. EUR 3.300-3.400) ¬ľ of the capital shall be paid in advance and blocked. Remaining ¬ĺ of the capital shall be paid within 24 months. The expenses for establishment of a limited company are as follows:

 

¬∑       Translation and notarization of foreign company documents: EUR 500 - 1.000 (depends on the number of pages that will be translated into Turkish)

 

¬∑       Notarization of articles of association of the company: around EUR 550 - 600.

 

¬∑       Company books and notarization of the books: around EUR 200

 

¬∑       Competition Board fee: 4/10.000 of the capital needs to be paid as competition board fee

 

¬∑       Registration fee: Company's registration at the Trade Registry Office and publishing of the registration at the Official Trade Registry Gazette. EUR 650

 

¬∑       Miscellaneous expenses: around EUR 300

 

There will be also expense for notarization, apostille, translation expenses of the mother foreign company documents which will be done in its own jurisdiction. Therefore we cannot give an estimate. 

Capital Movements Circular

July 2014 - Corporate & Commercial. Legal Developments by Baspinar & Partners Law Firm.

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The Central Bank of the Turkey announced several amendments to the Capital Movements Circular with the Circular numbered 2013/YB-7 dated 29.03.2013. According to the new legislation, in case a Turkish company with foreign shareholders intends to increase its capital, the money sent by the foreign shareholders shall be recorded in the books as the "capital increase amount" instead of "capital advance" until the registration of the capital increase to the Trade Registry Office.

LIAISON OFFICES IN TURKEY

July 2014 - Corporate & Commercial. Legal Developments by Baspinar & Partners Law Firm.

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Liaison offices are regulated in the Foreign Direct Investment Law ("FDI") numbered 4875 and Regulation for Implementation of Foreign Direct Investment Law ("RIFDI") issued based on FDI. According to article 3(h) of the RIFDI, the Undersecreteriat of Treasury ("Undersecreteriat") is authorized to permit foreign companies established under the laws of foreign countries to open liaison offices, provided that they do not engage in commercial activities in Turkey. In other words, liaison offices cannot engage in income generating activities. Liaison offices do not have any aspects other than salary payments made to the employees working in these offices.

TAXATION OF CONSTRUCTION WORKS

July 2014 - Tax & Private Client. Legal Developments by Baspinar & Partners Law Firm.

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According to the Turkish Law, they are 5 types of construction related taxes which are;

 

  1. Withholding tax,
  2. Corporate income tax,
  3. Dividend taxation,
  4. VAT, and
  5. Stamp duty.

 

It is important to explain a detailed tax situation concerning the construction processes. 

Legal Remedy Against Decisions About Precautionary Attachment

July 2014 - Litigation & Dispute Resolution. Legal Developments by Baspinar & Partners Law Firm.

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In this article, we have reviewed the legal opinion and information about rejection of precautionary attachments and decisions considering Code of Civil Procedure ("Code") numbered 6100 and Court of Appeal Assembly of Civil Chambers Precedent Decision numbered 2013/1 E. 2014/1 K. 

Well ‚Äď Known Trademark

July 2014 - Intellectual Property. Legal Developments by Baspinar & Partners Law Firm.

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In the world where the importance of corporate image increases, nonmaterial assets, become more of a nonfigurative issue, day by day. Trademarks, patents - utility models, industrial designs, copyrights and unfair competition are the main subjects of Intellectual Property. We will touch on Well - Known Trademark below.

 

Introduction to IP in Turkey

July 2014 - Intellectual Property. Legal Developments by Baspinar & Partners Law Firm.

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In the world where the importance of corporate image increases, nonmaterial assets, become more of a nonfigurative issue, day by day. Trademarks, patents - utility models, industrial designs, copyrights and unfair competition are the main subjects of Intellectual Property. We will discuss each of these subjects below.

Insurance Sector in Turkey

July 2014 - Finance. Legal Developments by Baspinar & Partners Law Firm.

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Insurance Sector in Turkey

There is a notable growth in the Turkish insurance market despite the global economic crisis in the recent years. The rise of the prices, especially in the traffic insurance has a key influence over the total growth of the insurance sector at a rate of 24.59 per cent in Turkey. It should be noted that this growth is not only related to price. According to the statistics published by the Insurance Association of Turkey ("TSB"); the elemental insurance sector has grown 23.79 per cent and non-life insurance has grown at a rate of 29.48 per cent in the period of first 8 months of 2013.

The figures announced by TSB revealed that insurers in Turkey have produced a premium total of TRY 6.5 billion (approx. USD 3.4 billion) compared to the TRY 5.1 billion generated in the same period of 2012. The breakdown of the impressive total shows that non-life categories constituted the majority with TRY 5.6 billion, while the remainder came from the sales of life insurance products.

 

Judicial Remedies for Customs Tax Disputes Have Changed

July 2014 - Tax & Private Client. Legal Developments by Baspinar & Partners Law Firm.

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Judicial Remedies for Customs Tax Disputes Have Changed

A Law published on the Official Gazette dated June 28th, 2014 and numbered 29044, which makes amendments on Turkish Criminal Code and Other Certain Laws ("Law numbered 6545"). According to the mentioned law several provisions of the Law on Establishment and Duties of Regional Administrative Courts, Administrative Courts and Tax Courts numbered 2576 ("Law numbered 2576") and the Administrative Jurisdiction Procedures Law numbered 2577 have changed ("Law numbered 2577").

 

Communiqué on Spatial Planning Preparation

July 2014 - Real Estate & Property. Legal Developments by Baspinar & Partners Law Firm.

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 I. INTRODUCTION

Communiqu√© on Spatial Planning Preparation    

Communiqué on Spatial Planning Preparation ("Communiqué ") which is prepared by Ministry of Environment and Urbanisation, is entered in force with the publication on Official Gazette dated 14.06.2014 and numbered 29030 and with this Communiqué , Communiqué on Principles About Making Plan and Communiqué on Environment Plan are abolished. A considerable number of definitions of special purpose plans are made and also spatial planning stages are composed with the Communiqué. Important points about regulation constitute the subject of this memorandum.

Establishing a company in Turkey

July 2014 - Corporate & Commercial. Legal Developments by Baspinar & Partners Law Firm.

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According to the "new" Turkish Commercial code, which has entered into force on 1st of July 2012 after being published on the Official Gazette on 30th of June 2012, there have been several changes made regarding establishing companies, its requirements and their specifications in Turkey. 

 

Commercial Company Types in Turkish Law

July 2014 - Corporate & Commercial. Legal Developments by Baspinar & Partners Law Firm.

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Types of the commercial companies are determined in Turkish Commercial Code. The types of the companies can be defined in two categories, which are capital companies such as Joint Stock Companies, Limited Companies, Commandite Companies that has its capital divided into shares and partnership companies such as Collective Companies and Commandite Companies. In this memorandum we will briefly introduce all types of companies available in Turkish law. However, our main focus will be on limited and joint stock companies, which are the most preferred ones in practice.

 

Limited or Joint Stock Company?

July 2014 - Corporate & Commercial. Legal Developments by Baspinar & Partners Law Firm.

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One of the most frequently asked questions of foreign investors establishing a company in Turkey is "Joint Stock Company or Limited Company?" In practice, the number of registered Joint stock companies is less than the number of registered Limited companies. According to the Trade Registry records, around 80% of all registered companies to trade registry are limited companies. However, the total capital of all joint stock companies is more than the total capital of Limited Companies. 

Amendments to the Anti-Smuggling Law

July 2014 - Crime. Legal Developments by Baspinar & Partners Law Firm.

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Grand National Assembly of Turkey has approved a Law on June 18th, 2014, which makes amendments on Turkish Criminal Code and Other Certain Laws ("Law numbered 6545"). According to the mentioned law several provisions of the Anti-Smuggling Law numbered 5607 and dated March 21st, 2007 ("Anti-Smuggling Law") have changed.  Anti-Smuggling Law has the purpose of preventing the acts and the sanctions of the illegal trading, to follow, to determine the principles and methods.

Independent Audit of Companies

July 2014 - Corporate & Commercial. Legal Developments by Baspinar & Partners Law Firm.

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COUNCIL OF MINISTERS DECISION REGARDING THE INDEPENDENT AUDIT OF COMPANIES

Turkish Commercial Code ("TCC") dated 13.01.2011 and numbered 6102 introduces significant provisions regarding good management and internal and independent audit that are to be applied to capital stock companies. The council of ministers decision ("decision"), concerning the determination of the companies which are subject to independent audit, is published on the Official Gazette dated 23.01.2013 and numbered 28537. This decision specifies the procedures and principles for companies which are subject to auditing in the scope of the TCC article 398.

 

Latest Developments on State Incentives In Investments

June 2014 - Finance. Legal Developments by Baspinar & Partners Law Firm.

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Decision on Amendment to Decision on State Incentives for Investments numbered 2012/3305 has been published on the Official Gazette dated 09.05.2014 and numbered 28995. These amendments made through the mentioned amendment decision have retroactive effects and are effective as of 19.06.2012.

Liquidation of Companies in Turkish Law

June 2014 - Corporate & Commercial. Legal Developments by Baspinar & Partners Law Firm.

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There are several reasons that a company becomes terminated in Turkish law. However, to complete the termination of a company, liquidation or bankruptcy procedures needs to be accomplished. 

 

Foreign Real Estate Acquisitions in Turkey

June 2014 - Real Estate & Property. Legal Developments by Baspinar & Partners Law Firm.

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Real estate and limited real rights acquisitions by foreign nationals, either natural person or legal entity, are regulated by Land Registry Law numbered 2644. In this regard the Land Registry Law article 35 and 36 has a great importance for foreign nationals who wish to purchase real estate within the borders of Turkey. The Turkish government was working on a draft law which amends the current articles concerning the foreign acquisitions.  Read More