The Legal 500

Twitter Logo Youtube Circle Icon LinkedIn Icon
Work +90 212 380 0640
Fax +90 212 217 1890

Ersin Nazalı, Nazalı Attorney Partnership

Managing Partner Ersin Nazalı explains how the firm is adapting to clients’ changing needs

What do you see as the main points that differentiate [law firm name] from your competitors?

The main difference of NAZALI is that NAZALI does not only provide regular legal services but also provides services in the fields of tax law, social security and customs through its partners and employees experienced in both public and private sector. In this respect, our firm offers tax, social security and labor law, customs and foreign trade, general legal services, accounting, fraud risk management and internal systems services to the clients.

In addition to this, the main aim of NAZALI is to offer the best solution to its client before disputes occur. Accordingly, we also offer dispute preventing and risk eliminating services.

Which practices do you see growing in the next 12 months? What are the drivers behind that?

Both Corporate and Tax Law have always been one of the most important fields for Turkish Law practice up to present. Once companies are formed, these fields also proceed to became essential for them. Nowadays, especially company restructurings and public offerings became widespread due to market competition as an outcome of today’s economy and changing economic conditions. Besides that, tax law is also a cost element as a requirement of commercial activity.

In respect of corporate law, restructuring (merger-demerger) is a profitable and useful method, considering the exemption clauses regulated under relevant tax laws. However, restructuring processes may lead to extremely risky results unless are performed in accordance with tax and commercial regulations. Our strong and experienced team performs restructuring transactions in an accurate and efficient manner under single roof since they are complex transactions having both legal and accounting-tax aspects. Besides this, we believe that, 2018 will be a bright year for public offerings in Turkey. Most of the medium and large scale Turkish companies are willing to offer their shares to public in order to finance their operations. We provide services for our clients regarding public offerings with our experienced lawyers who have previously served as experts at the Capital Markets Board of Turkey.

On the other hand, in respect of tax law, either local companies or international companies are always in a need of conformity with the Turkish Tax Legislation. In this regard, NAZALI with its experienced team consisting of sworn and certified public accountants, consultants as well as attorneys provides a different and complete service to clients to compliance with tax law and local tax regime. Our services cover not only compliance with tax law and regime but also resolution of disputes arising from tax penalties on litigation. Due to acts listed under Article 359 of the Tax Procedural Law, litigations arising from Tax Penalties are the most common problem for majority of the companies.

What's the main change you've made in the firm that will benefit clients?

First of all, we are very attentive to give precise and quick responses to our clients when they e-mail us. This speciality is really appreciated by our clients. NAZALI’s website called “Vergi Ajandası” (Tax Agenda) is the other most beneficial speciality appreciated by our clients as we inform/update them with articles and circulars regarding legislative amendments and important topics through this website and by sending e-mails.

Besides that, clients can have complex problems which leads to various legal areas and accordingly we are capable of finding the best suitable solution for them by virtue of interdepartmental communication. For foreign investments and international structuring, we can also consult to our colleagues (business partners) abroad before taking up a position for problems (thanks to our international structuring).

In addition to these services, we also provide trainings for our clients. Up until now, we have held several seminars and conferences in order to inform our clients regarding especially social security, custom and R&D incentives.  

We also would like to highlight that, both our tax partner Ersin Nazalı and corporate & capital markets partner Semih Metin had played active roles in preparation of certain legislations such as Tax Regulations, Capital Markets Law and its Secondary Legislation during their previous duty at Tax Inspection Board and Capital Markets Board. So, thanks to our partners’ previous public careers, NAZALI tries to keep in contact with government agencies and authorities (such as Capital Markets Board of Turkey, Banking Regulation and Supervision Agency, Tax&Revenue Administration, Social Security Institution, Customs Authority)) in order to have a better understanding and interpretation of legislation and public authorities’ rulings. By this mean, we offer a comprehensive and effective service from every perspective and response our client’s request.

Is technology changing the way you interact with your clients, and the services you can provide them?

We inform our clients and the other followers regarding legislative amendments and the most important topics with the updated circulars and the articles via Vergi Ajandası (above mentioned website). We also announce our trainings and conferences through Vergi Ajandası and our website as well. Besides, we publish a quarterly journal named “Nazalı Gündem” which consist of several legal articles written by our attorneys, consultants and sworn-in certified public accountants. These two channels are the best examples on interaction of technology by NAZALI.

Can you give us a practical example of how you have helped a client to add value to their business?

In our previous experiences, we have provided legal advice on tax efficient local and international restructuring for our Holding-Group companies which enabled them to play active role in international market. Also, we prepared family constitutions and accordingly shareholder agreements for Institutionalization of family companies that have an important place in the economy both in Turkey and abroad.  These constitutions aim to preserve the stability of family companies and in the course of transition between generations who take part in Family business.

Further, we have provided legal advice to conduct initial public offering due to clients’ need of capital to finance their investments and gain reputation and recognition in Turkish market.

Our fraud risk management and internal systems department aims to give professional support to our clients’ boards of directors relating to their operational responsibilities as the most important aim for a company is to obtain the most efficient results with limited resources and with gradually increasing performance.

Last but not the least, we work with the prestigious Turkish Companies with regard to their Social Security incentive needs and offer best solutions regarding their problem before Social Security Authority as frequent changes in Social Security Legislation (especially on incentives) requires expertise in terms of follow-up and compliance.

Are clients looking for stability and strategic direction from their law firms - where do you see the firm in three years’ time?

Our fast but controlled growth in a short time (3 years) is the best indicator of our stability. The primary reason of this growth is the respect that we show to our colleagues’ professional and individual rights. In NAZALI, there is no place for abuse of employee rights; even on the contrary, we work as a team with a constant connection. Also, we provide chance for them to have a master degree or participation in national and international seminars to improve themselves. In this way, we can provide the best solutions to our clients by conducting motivated and effective business with pleased colleagues.

In the near future, we aim to proceed to our growth in the same way with our national and international clients. In parallel with this growth, we are willing to increase the number of colleagues from 80 to 100 in order to respond the requirements of the clients properly.

Legal Developments in Turkey

Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to
  • Court of Appeals Sheds Light on “Just Cause” for Termination, Exit Right and Squeeze-out

    The Court of Appeals Sheds Light on "Just Cause" for Termination, Exit Right and Squeeze-out of Shareholders

    2018 has been a turbulent year in the Turkish economy and by extension significant changes has taken place in the Turkish foreign exchange rules which was mainly triggered by the recent overshooting in the foreign exchange rates against Turkish lira.
  • Understanding the Registration Obligation under Turkish Data Protection Law

    I. Scope of the registration obligation under Turkish legislation
  • Quarterly Update on Trade Defense Cases in Turkey (September 2018)

    After Turkey's recent change to executive presidency, the President has made some changes in the government system.
  • Amendments Introduced through Law No. 7101 on Arbitration Proceedings

    State courts have very important functions concerning arbitration proceedings. These functions may aim to provide assistance to arbitration proceedings, such as collection of evidence through state courts, which would support the functions of the tribunal, or functions aimed at supervision of arbitration proceedings, such as set-aside actions. The legal provisions regulating these functions play an important role in the determination of whether a particular state has an arbitration-friendly legislation.
  • Restrictions on Use of Foreign Currencies in Certain Agreements between Turkish Residents

    The Presidential Decree dated September 12, 2018, on the Amendment of Decree No. 32 on the Protection of the Value of the Turkish Lira (" New Decree "), introduced significant restrictions on the use of foreign currencies in certain agreements between Turkish residents. Below, we explain the scope of the New Decree and discuss possible issues and problems that may arise in relation to the implementation of the New Decree. We also assess the potential effects of the Communiqué (2018/32-51) on the Amendment of the Communiqué on Decree No. 32 on the Protection of the Value of the Turkish Lira (2008/32-34) (" Communiqué "), which was published in the Official Gazette on October 6, 2018, and lists the exceptions to the restrictions imposed by the New Decree.
  • Amendment of ICSID Rules and Regulations

    At the 2016 Annual Meeting of the Administrative Council, the International Centre for Settlement of Investment Disputes ("ICSID") launched an amendment process on its' rules and regulations ("ICSID Rules and Regulations"). This has been the fourth amendment process since 1984, 2003 and 2006. As per Article 6 of the ICSID Convention, the amendments will only be effective upon the approval of two-thirds of the contracting states2. Hence, ICSID invited contracting states and the public3 to provide their amendment suggestions on topics worthy of consideration, which will be used as background papers throughout the process.
  • Trust Liability in terms of Groups of Companies

    Article 209 of Turkish Commercial Code No. 6102 ("TCC") has set forth obligations that are subject to damage caused by the trust and reputation of the parent company, as created with society and the consumer. Accordingly, "in the event that the reputation of the parent company and the group of companies reaches a certain level which provides trust to society or the consumer, the parent company is liable for the trust created by utilization of this reputation".
  • Possibilities and the Results of Trademark Confusion

    Trademarks are the vehicles that are used to differentiate companies one from the other. They help to capture the consumers' attention. It is essential and necessary to protect trademarks that are created and improved with capital and effort, from unrightful use by third parties, and to prevent the encroachment of trademarks through confusion. One of the most efficient functions of intellectual property law is to encumber imitations, and to halt improper benefit by using the popularity of the trademarks to their consumers. On the other hand, in our daily lives, we often see trademarks that are similar, and may wonder how they co-exist at the same time. In this article, we will shed light on the reasons why similar trademarks can be registered, the criteria that cause trademark confusion, and the remedies to prevent and/or remove these infringements.
  • Capital Markets Board Issues an Official Announcement on Initial Coin Offerings and Crowdfunding

    The Capital Markets Board (" CMB ") issued an announcement on September 27, 2018, on its website and addressed the much-disputed status of digital tokens and Initial Coin Offerings (" ICO "). In this announcement, the Capital Markets Board stated that it does not regulate or supervise ICOs, and also noted that it does not regulate or supervise most practices in which blockchain technologies are being used, such as cryptocurrency offerings and token offerings.