KILINÇ LAW & CONSULTING > Istanbul, Turkey > Firm Profile

Ayazaga Mah. Azerbaycan Cad. No:3B
Vadistanbul, 1B Ofis Blok, Kat:26
Bagimsiz Bölüm No:58 Sariyer/Istanbul

Turkey > Project finance/projects Tier 2

KILINÇ LAW & CONSULTING houses a broad projects and infrastructure practice that covers a wide mix of energy law, project finance, capital markets and M&A-related matters. The three-partner group is particularly noted for its close relationship with Arz Venture Capital Investment Fund, for which it has undertaken several projects over the past year. Key contacts include founding partner Levent Lezgin Kılınç; M&A and projects head Seray Özsoy Yavuz; maritime specialist Duygu Doğan Şahiner; and senior associate Gülenay Çapkınoğlu Kavcar.

Practice head(s):

Levent Lezgin Kılınç; Seray Özsoy Yavuz; Duygu Doğan Şahiner; Gülenay Çapkınoğlu Kavcar


‘The team is unique, well-experienced, very responsive and dynamic. Lawyers have deep understanding of the local legal system and international best practices and are up-to-date on emerging matters and new techniques in legal practice, which provides for comprehensive and effective legal solutions.’

‘The team’s dynamic approach enables it to adapt quickly to evolving legal landscapes, delivering innovative strategies that meet the unique needs of each client.’

‘The firm has a very distinguished partner, Levent Lezgin Kılınç, which whom I collaborated on multiple international projects that required profound legal experience in navigating long-term financing models, oil and gas regulations, and the adoption of worldwide best practices for PPPs, which he possessed.’

‘This firm’s project finance department is truly exceptional and distinguishes itself in several remarkable ways, making it a standout choice for potential clients seeking specialised financial legal services.’

‘What sets this practice apart is its unwavering commitment to delivering comprehensive and innovative solutions. One of its key strengths lies in its team of seasoned experts who possess a deep understanding of the complex world of project finance.’

‘One of the unique aspects of this practice is its dedication to fostering collaboration both internally and externally. The team operates in a highly collaborative manner, pooling their collective knowledge and experience to provide clients with the most effective and tailored financial solutions.’

‘The individuals we have the privilege of working with truly stand out in the legal landscape. Specifically, Levent Lezgin Kılınç, Seray Özsoy Yavuz, and Duygu Doğan Şahiner have consistently demonstrated exceptional qualities and expertise in the realm of PF, making them invaluable assets to our team.’

‘The team comprises business-minded associates who know and understand the intricacies of project finance, especially for a state-owned company group. Lawyers are financially capable, which is not the case for many law firms, and due to working with our company continuously, they know what we want.’

Key clients

SOCAR Group Companies (SOCAR Turkey Enerji & SOCAR Turkey Petrol Ticaret & SCR Müşavirlik ve İnşaat Anonim Şirketi)

PETKİM Petrokimya Holding

TANAP (Trans Anatolian Natural Gas Pipeline)

STAR Rafineri

Arz Venture Capital Investment Fund

Kızılay Holding and its Venture Capital Investment Fund

RMA Group

Mersin International Port (MIP)

PSA International/Global PSA

Doka Kalıp-İskele Sanayi ve Ticaret

Pasha Holding LLC


Turkey > Energy Tier 3

The team at KILINÇ LAW & CONSULTING works closely with the project finance, M&A, and dispute resolution departments to provide a multidisciplinary approach to energy-related matters. The firm regularly assists its international client base with mandates concerning a broad range of energy industries, including petroleum, renewable energy, and natural gas. Levent Lezgin Kılınç and Seray Özsoy Yavuz lead the team. Nigar Guliyeva is noted for her experience resolving energy-related disputes.

Practice head(s):

Levent Lezgin Kılınç; Seray Özsoy Yavuz

Other key lawyers:

Duygu Doğan Şahiner; Nigar Guliyeva


‘Working with Kılınç Law Firm is a great experience. They have a great team that provides quality work and fast responses. They make themselves available when needed.’

‘Each teams member has wide knowledge in their specialisation. All members in the team are kind, helpful and professional.’

‘Duygu Doğan Şahiner is an expert lawyer who always finds fast and high-quality solutions to legal problems.’

‘Their in-depth knowledge of regulatory matters and strong connections within the energy industry have provided substantial support to projects.’

‘With a profound understanding of both local and international energy laws, their seasoned attorneys offer innovative and comprehensive solutions to complex energy-related disputes.’

‘They are a great team and know the energy sector inside out.’

Key clients

SOCAR Turkey Company Group

PETKİM Petrokimya Holding A.Ş.

Trans Anatolian Natural Gas Pipeline

STAR Rafineri A.Ş.

DOKA Kalıp İskele Sanayi Ve Ticaret A.Ş.

BOR Şeker Anonim Şirketi

RMA Group

Arz Venture Capital Investment Funds

Work highlights

Turkey > Real estate and construction Tier 4

KILINÇ LAW & CONSULTING’s real estate practice is equipped to advise on a broad scope of work, from zoning and regulatory law, through to property management, lease agreements and immigration matters, among other issues. Key contacts include Duygu Doğan Şahiner, who handles real estate, shipping and dispute resolution; senior counsel Nigar Guliyeva; senior associates Eren Dündar and Mevra Baran Akkoyun; and managing associate Mert Sönmüş.

Practice head(s):

Duygu Doğan Şahiner; Nigar Guliyeva; Mevra Baran Akkoyun; Eren Dündar; Mert Sönmüş


‘The team’s key strengths include having a customer focus, and responding to questions quickly and professionally.’

Key clients

SOCAR Group Companies [SOCAR Turkey Enerji A.Ş. & SOCAR Turkey Petrol Ticaret A.Ş. & SCR Müşavirlik ve İnşaat Anonim Şirketi]

PETKİM Petrokimya Holding A.Ş.

TANAP (Trans Anatolian Natural Gas Pipeline)

STAR Rafineri A.Ş.

Sunset Hospitality Otelcilik Turizm ve Tic. A.Ş.

Kızılay Holding and its Venture Capital Investment Fund

RMA Group

Mersin International Port (MIP)


PSA International

Fun & Sun

Valour Holding Anonim Şirketi

Work highlights

  • Advised PSA BDP Turkey Supply Chain Solutions on the acquisition of Alışan Lojistik Anonim Şirketi.
  • Advised Fun and Sun Turizm İnşaat Ticaret Anonim Şirket on the acquisition of a prominent five-star hotel.
  • Advised Sunset Hospitality Otelcilik Turizm ve Ticaret Anonim Şirketi on contentious matters.

Turkey > Commercial, corporate and M&A Tier 5

The corporate and M&A team at KILINÇ LAW & CONSULTING assists domestic and multinational corporates in sectors ranging from logistics, tourism and health to hospitality and real estate, with regulatory, day-to-day and transactional matters. The practice is led by founding partner and M&A expert Levent Lezgin Kılınç; Seray Özsoy Yavuz, who in addition to acquisitions, specialises in private fund investments and joint ventures; and senior associate Gülenay Çapkınoğlu Kavcar.

Practice head(s):

Levent Lezgin Kılınç; Seray Özsoy Yavuz; Gülenay Çapkınoğlu Kavcar

Other key lawyers:

Gökçe Ergün; Demet Akçaalan


‘Kılınc Hukuk stands out as a multi-faceted law practice that excels in delivering comprehensive, all-in-one services to clients across various sectors.’

Key clients


PETKİM Petrokimya Holding A.Ş.

TANAP (Trans Anatolian Natural Gas Pipeline)

STAR Rafineri A.Ş.

Arz Venture Capital Investment Fund

Kızılay Holding and its Venture Capital Investment Fund

RMA Group

Mersin International Port (MIP)

PSA International/Global PSA

Doka Kalıp-İskele Sanayi ve Ticaret A.Ş.

Pasha Holding LLC


Kılınç Law & Consulting is a law firm based in Turkey, providing legal services in domestic and international areas. The firm’s leading services include energy and commercial law, competition law, mergers and acquisitions, including the execution of application processes to the Competition Authority, project finance and consultancy services given to Foreign Direct Investments. Accordingly, our law firm provides daily consultancy services to its clients in employment law, contracts law and capital markets law. Our team is competent to provide necessary legal advice to its clients before the national courts and other alternative dispute resolution mechanisms, with lawyers, specialized in maritime law, enforcement and bankruptcy law, and a dispute resolution team specialized in national and international dispute resolution. In addition, Kılınç Law & Consulting has experience in assisting foreign companies with obtaining work permits, residence permits and the acquisition of Turkish citizenship for their employees.

Kılınç Law & Consulting has extensive experience in assisting their clients before the administrative authorities to ensure they obtain required authorizations, licenses and/or permits for their respective commercial activities. Our specialist lawyers pursue and finalize the application process for the client before public authorities in Turkey while ensuring its foreign clients benefit from the incentives that the legislation offers. Following the completion of authorization, licensing and/or permit processes Kılınç Law & Consulting prepares project and financial agreements for its clients by carrying out the relevant negotiation processes and completes the closing and registration processes for its clients. Moreover, the firm conducts services in order to ensure its clients comply with the ever-changing regulations through our regulation and compliance department with the daily sector-specific feedback on regulatory changes.

In addition to providing consulting services on government relations in multiple sectors, Kılınç Law & Consulting also advises international companies on their investments in Turkey, including company establishment procedures, contract negotiations, completing agreements, restructurings, day to day corporate and operational needs and taking the necessary legal steps against disputes that may arise in the future. Kılınç Law and Consulting, within the scope of its innovation and fintech department; provides services to clients working in the fintech, artificial intelligence, E-commerce and Esports sectors and start-up and scale-up companies Kılınç Law & Consulting, through its data privacy department, provides services on compliance with the personal data privacy law that was amended in 2016 that regulates privacy obligations for companies that has a certain amount of revenue and employees. In addition, Kılınç Law and Consulting provides services to real and legal persons operating in the media and entertainment sector in the fields of advertisement law, digital media, media contracts, press and broadcasting law and internet law through the media and entertainment department.

Our goal is to offer preventive precautions and to generate solutions to the legal issues our clients face. Our team comprises experienced partners, associates, and paralegals who are fluent in English, German, Arabic, Russian and Azerbaijani.

Department Name Email Telephone
Energy Law Levent Lezgin Kılınç +90 212 217 12 55
Project Finance Levent Lezgin Kılınç +90 212 217 12 55
Mergers & Acquisitions Seray Özsoy +90 212 217 12 55
Dispute Resolution Duygu Doğan +90 212 217 12 55
Contracts Law Nigar Guliyeva +90 212 217 12 55
Employment Law Mevra Baran Akkoyun +90 212 217 12 55
Corporate Law Gülenay Çapkınoğlu Kavcar +90 212 217 12 55
Competition Law Eren Can Ersoy +90 212 217 12 55
Contracts Law Başak Kartal Bektimur +90 212 217 12 55
At this address : 45
in this country : 50
worldwide : 54
British Chamber of Commerce in Turkey
Swiss Chamber of Commerce


CLIENT: Mustafa Mekki Özkan
COMPANY/FIRM: Yu Group Gayrimenkul Yatirim Anonim Sirketi
TESTIMONIAL: We have been working with Kilinç Law & Consulting for four years. As an investment company we always have to proceed with caution and the firm truly appreciates this. With Kilinç Law we are making great progress with two real estate projects. One is Cadde 54, which is the biggest modern construction estate project in Sakarya, and the other is UNIQ Istanbul, which is also a construction project in Maslak, Istanbul. The project finance team has provided excellent assistance in relation to these projects, including preparing, revising and reviewing the agreements and obtaining the licence from relevant authorities. Mrs. Özsoy has extensive knowledge in this practice area.

CLIENT: Ender Özatay
COMPANY/FIRM: Doka Kalip-Iskele Sanayi Ve Ticaret Anonim Sirketi
TESTIMONIAL: We have been working with Kilinç Law & Consulting for a year.  Founding Partner Levent Kilinç is a key name in the project finance practice area. Our project is one of the biggest residence and business building projects in Ankara. The team’s hardworking associates have helped us to reach many agreements during the project. We are always impressed by the speed with which its lawyers respond. Mr. Kilinç is a highly experienced lawyer in project finance.

CLIENT: Cumhur Çanacik
COMPANY/FIRM: SOCAR Turkey Enerji A.S. & PETKIM Petrokimya Holding Anonim Sirketi
TESTIMONIAL: Mr. Kilinç and his team were always available for us to guide us through decisions, allowing us to feel that we were always working in the right direction. Thanks to their hard-working team, our project was completed without any delay or issues. We highly recommend Mr. Kilinç to our clients as a legal partner.

CLIENT: Zeynep Gazali Duran
COMPANY/FIRM: TANAP Dogalgaz Iletim Anonim Sirketi
TESTIMONIAL: We have been working with Kilinç Law & Consulting for four years. During this time, we have always been pleased with the meticulous work of the project finance team. The TANAP project is a confidential project and the natural gas pipe line has far-reaching effects on Turkish and Azerbaijani relations. We have been informed regarding critical matters on the project by a highly experienced team. Mr. Levent Kilinç specialises in energy law and also has a lot of experience related to project finance practice.

CLIENT: Murat Onuk
COMPANY/FIRM: Arz Gayrimenkul Ve Girisim Sermayesi Portföy Yönetimi Anonim Sirketi
TESTIMONIAL: Kilinç Law & Consulting assisted us with a project in which shareholder agreements were central and any delay in the process would have made matters difficult for us. Mr. Kilinç and his team were always available to advise us. The Firm also advises us in relation to one of our big investment, Bor Seker A.S., subject to privatisation and sold at auction for 336 million liras ($82.91 million). The Kilinç team successfully managed the project and assisted us in transferring shares and our whole investments as a venture capital fund.  Their hard work ensured that the project ran smoothly and we would certainly recommend Mr. Kilinç to our clients as a legal partner.

CLIENT: Dilara Uçar
COMPANY/FIRM: Star Rafineri Anonim Sirketi
TESTIMONIAL: Kilinç Law & Consultancy provides a legal service to our company’s litigation practices.  Star Refinery, which is the largest investment in a single point in the real sector in Turkey, meets 25% of Turkey’s refined petroleum products capacity needs alone. It is also the first company in the field of Turkey’s strategic incentive. In addition to this, Star Refinery which operates in Izmir and is valued at $6.3bn USD has been declared as “Turkey’s First Special Industrial Zone”. Mr. Levent and his team have provided various legal services such as: the “starrafineri” brand registration before the Turkish Patent and Trademark Authority; the preparation of our legal responses to possible objections; the maintenance of relevant negotiations; the preparation of legal memorandums and legal opinions;
the conducting of cases; the take-over of other similar brands, and; the organisation of a successful trademark registration process. Mr. Levent and his team are highly recommended legal advisors.


“From day one, we have always attached great importance to having a balanced workforce. The Kılınç Law family is proud to state that unlike many other firms operating in our industry, since 2016 we have had more women employees than men and at every level of the business women are well represented – with half our partners, 75% of our senior associates and almost 90% of our associates being women. Moreover; Kılınç Law and Consulting is proud to be a diverse team, reflecting a range of race, religion, national origin, sex, age, marital status, gender identity, citizenship status and other statuses. The firm is highly international, and there are currently associates in the firm from Azerbaijan, Sweden and Australia.

Creating Role Models for Young Lawyers

The Firm provides a wealth of role models for aspiring young female lawyers; the majority of senior positions are occupied by female lawyers, a situation that is rare in both specialist and large law firms. As a firm that practices corporate law, Kılınç Law & Consulting understands good business practices, so the Firm agrees that diversity in recruiting, hiring, and promoting makes good business sense for us as well as for clients. Kılınç Law & Consulting recently promoted a female Senior Associate, Duygu Doğan, to the Partnership in September 2019, making her the firm’s second female partner together with Seray Özsoy. This helps to further encourage the predominantly female team that success is rewarded at Kılınç Law & Consulting regardless of gender.

Embracing Gender Differences

We believe that the equal distribution of women and men in the work environment is a balance that can take a society further – and, it’s also very important for the office environment for many reasons. Each associate who has the same seniority earns the same salary, regardless of gender. The Firm pays great attention to the absence of such discrimination. In addition, the company provides many conveniences to increase the role of working mothers in business life. It allows mothers working with flexible working hours to spend time in both family and business life. The firm also provides various forms of support to families of the workers expecting children, including a robust maternity cover scheme.

Making the Firm Accessible for Every Individual

On the other hand, the Firm’s new office, which is located in Istanbul, has been made appropriate for disabled people. The firm has attached great importance to make the office accessible for everyone; the architecture of the Firm has been completed in accordance with the requirements of disabled people who would work in the future.

Actively promoting diversity in business life causes many positive indicators to be reflected in a company’s bottom line. Kılınç is working actively to increase the volume of women in business in Turkey, and we are also a member of the organization to increase diversity in entrepreneurship in Turkey. The fact that we actively promote and reflect diversity in business life is also appreciated by our clients, especially those with a large business volume and employment capacity.”

Since its establishment in 2014; Kılınç Law & Consulting has always prioritized extending its reach to the international community and being of service to foreign investors on every legal problem they would face in Turkey. As a law firm providing services to foreign investors from all over the globe; we primarily focus on extending our international capabilities to better service our clients.

The Clients

Kılınç Law & Consulting’s primary goal is to service foreign direct investors through their investments in Turkey. As a full service law firm, we are able to provide services to companies starting from their investment decision in Turkey via establishment of foreign capitalized companies as well as maximizing benefits they would receive from the governmental incentives, initiating their business in Turkey and their everyday legal enquiries.

Moreover, through working with foreign investors from all over the globe; we recognize that many of the investors prefer an on-hands approach in their investments, requiring their key personnel to be in Turkey to be able to direct their operations onsite. Acknowledging this requirement our Firm, through its immigration department has broad experience in assisting foreign companies with obtaining work permits, residence permits and the acquisition of Turkish citizenship for their employees.

International Capabilities

Kılınç Law & Consulting through its strong connections in multiple jurisdictions, provides services to their clients in Azerbaijan, Europe, Middle East and wherever they require legal assistance at. As a team fluent in many different languages and experienced in providing services to foreign clients; we take pride in being able to assist our clients in their every need, in their own language.

Foreign Desks

In order to be efficient in attending to the legal requirements of our clients and to service our clients better through multiple expert professionals; we have recently formed foreign jurisdictional desks for UK, Central Europe, Kuwait, Azerbaijan, Qatar and Black sea Countries.

Extending Global Network

As a member of the global legal community; we are always in touch with global network of legal professionals and businesses. Through our multiple memberships in International Organizations including IBA and AIJA; we are able to work together with multiple experts in the field for the international requirements of our clients. Therefore, working together with Kılınç Law & Consulting means that you are part of an esteemed global network of highly skilled professionals.

London Office

Kılınç Law & Consulting’s London office has started its operations on 2019 in order to be a hub at one of the biggest economies in the world and able to give international legal advice for clients based, or planning to extend its reach to UK.


In order to extend our international capabilities, we are always trying to be in connection with the best legal consultants in different jurisdictions. In order to facilitate the operations in Qatar region, we have signed a Cooperation Agreement with Al Sulaiti Law Firm, one of the most reputable law firms in Qatar. Within the scope of this agreement Firms we will be covering the legal needs of our clients in our respective countries.



Positioned as a crucial middle corridor between Asia and Europe, Türkiye has gained growing significance in commercial relations, influenced by factors like the Russia-Ukraine war, Middle East instability, and the supply chain impacts of Covid-19, alongside substantial investments in infrastructure and defence. This has positioned Türkiye as one of Europe’s most dependable routes for transporting goods. Consequently, with extensive production possibilities, a qualified workforce, a strategic location, modern logistics infrastructure, and attractive incentive packages, Türkiye is increasingly enhancing its geo-political importance as a bridge between East and West, capable of meeting diverse business needs.

In addition to these commercial advantages, the young and active population, the dynamic free market economy, as well as its economy’s strong performance over the past decade boots the Country’s future growth potential. In terms of both imports and exports, as a Customs Union member Türkiye is the EU’s sixth-largest commercial partner and reciprocally Türkiye’s top partner for imports and exports, as well as a source of foreign direct investment, is the EU (FDI).

Despite a devastating earthquake in February 2023 and various other negative factors, Türkiye’s robust economic expansion has persisted, leading to the development of a diverse range of industries and an increased production and import-export capacity over the past 20 years. More than 24 cities with populations of over one million people each contribute to Türkiye’s growing domestic market. We provide a rising local demand infrastructure for global enterprises with our young and vibrant population, which has an average age of 34[1], making us the country with one of the youngest populations among European Union member states. Additionally, Türkiye boasts a substantial number of qualified engineers, further contributing to its strengths on the global stage.

Türkiye’s economic landscape[2] in the fourth quarter of 2023 exhibited resilience and growth, with the GDP expanding by 4.0 percent. The services sector, including construction, led the charge with a notable 3.6 percent growth, followed by the industrial sector at 1.9 percent and the agricultural sector at 0.5 percent. Adjusted for seasonality and calendar variations, the GDP demonstrated a 1 percent increase in the fourth quarter. The cumulative growth for the entire year reached an impressive 4.5 percent in 2023. The buoyancy extended to fixed capital investments, surging by 10.7 percent, while both private and public consumption expenditures saw significant upticks of 9.3 percent and 1.7 percent, respectively. Despite net exports contributing a negative 0.6 percentage points to growth, construction investments and machinery/equipment investments witnessed robust increases of 7.5 percent and 14.0 percent, respectively. Notably, private consumption played a pivotal role, contributing 6.7 percentage points to growth, while public consumption added a commendable 0.2 percentage points to economic expansion during this period. These robust economic indicators underscore Türkiye’s attractiveness and resilience for businesses looking to invest and thrive in the dynamic Turkish market.

The escalating impact of the Russia-Ukraine war, coupled with the repercussions of instability in the Middle East, particularly threats on logistic routes, has triggered a ripple effect in the global economic landscape. The growing sequence of events stemming from these geopolitical challenges is contributing to Türkiye’s geopolitical significance in the broader economic perspective.

The Turkish economy has been growing in 2023, as a consequence of steps and supports implemented to buffer the negative impacts of the Covid-19 epidemic, devastating earthquake happened in February 2023 effecting 11 highly populated cities and other geo-political challenges on the economy. In the face of growing inflation in the aftermath of the global economic instability, Türkiye, sought to maintain rapid growth while protecting and then increasing employment. Monetary and fiscal policies were developed following this framework, which included returning the orthodox economic policies after the general elections happened in the 2nd quarter of 2023., while also cutting different taxes, increasing some incentives for certain sectors and, raising the minimum wage.

Hence, by continuing its uninterrupted growth pattern following the global crisis, the Turkish economy gained tremendous achievements. Economic activity remained strong in 2023 and continues its growing momentum. In addition to rising raw material and energy costs as a result of the Russia-Ukraine conflict, disruptions in regional supply chains had little impact on the Turkish economy’s growth performance. The Turkish economy grew thanks to increased domestic and overseas demand. Moreover, aided by recent developments and successful bilateral agreements, Türkiye’s dynamic economy has earned international recognition, prompting credit rating agencies like Fitch to upgrade Türkiye’s credit ratings[3]. Notably, these agencies have also revised Türkiye’s credit outlook from “stable” to “positive,” reflecting the positive trajectory and strengthening financial position of the country.

The export quantity index[4] climbed by an average of %5.0 on November 2023 compared to the same period the previous year, while the import quantity index decreased by 7.8 percent. Despite the significant global trade contraction of 2 trillion dollars, Türkiye’s exports maintained an upward trend throughout 2023. Notably, in the commemorative year of the Republic’s 100th anniversary, 2023 marked a remarkable achievement for Türkiye as it set a new record in exports, reaching a notable 255.8 billion dollars[5].



Our country is appealing to international investors due to its diverse production potential, qualified workforce, strategic location, sophisticated logistics infrastructure, and incentive packages that meet a variety of needs. Situated at the convergence of strategic trade routes across three continents and hosting the second-largest population in Europe, Türkiye is a key player on the global stage. With a population of approximately 85.2 million people as of 2022, Türkiye presents a multitude of opportunities for investors, leveraging its strategic location, diverse demographics, and economic potential.

Türkiye’s investment advantages are appealing to investors, and we may discuss these investment incentives through the following points: The Turkish economy’s strength and inclusion among the world’s 20 most powerful economies. Türkiye’s strategic location is on two enormous continents, encircled on all sides by three seas: the Black Sea, the Mediterranean Sea, and the Aegean Sea. In addition to its lengthy marine borders with Africa, it has an internal sea, the Sea of Marmara. The Turkish government provides investors with government services in order to entice them to invest in Türkiye. Türkiye’s vast geographical area offers several opportunities for investment in a wide range of areas. The variety of tourism destinations available in Türkiye, as well as the complexity of its infrastructure and dispersion over various Turkish states, open up larger and more expansive business opportunities.



A business in Türkiye can be formed in various ways, and its structure may differ as outlined below;


i. Joint Stock Company

A corporation with its capital divided into shares, a Joint Stock Company confines its liability for debts solely to its assets. Moreover, shareholders’ responsibilities are limited to the capital shares acquired through established methods, thus confining their obligations solely to the payment of the agreed-upon capital amount to the company. Initiating a Joint Stock Corporation requires at least one founder shareholder, who can be either an individual or a legal entity, and there is no specified maximum limit on the number of shareholders.

The minimum capital requirement is TRY 250,000.00 (Two Hundred Fifty Thousand Turkish Lira), with a lower cap of TRY 500,000.00 (Five Hundred Thousand Turkish Lira) for companies adhering to the Registered Share Capital System. Entities planning to go public and falling under the Capital Markets Legislation often opt for the registered share capital system. Additionally, real estate can be contributed to corporations as capital, provided there is an expert appraisal report supporting the valuation. A Joint Stock Company can be established for any lawful economic purpose, without restrictions unless expressly prohibited by law, and its existence can be either limited or unlimited in duration. However, industries such as financial leasing businesses, banks, and insurance companies necessitate approval from the relevant ministry or other state organizations for the establishment of a Joint Stock Company. In such cases, obtaining an approval letter from the ministry before establishing the corporation may be a prerequisite. It’s important to note that any modifications to the Articles of Organization for companies operating in these specified industries are also subject to the same approval process. The founding shareholder is obligated to draft and sign the Articles of Association, with their signatures attested by a notary public. The Articles of Association must encompass essential details such as the field of activity, capital, nominal values of shares, authorities, address, and representatives of the Joint Stock Company. Additionally, they appoint the initial members of the Board of Directors. It is crucial to emphasize that introducing a provision into the Articles of Organization is only permissible if expressly allowed by law.

A Joint Stock Corporation must consist of two governing bodies: the General Assembly and the Board of Directors. The Board of Directors, operating under the oversight of the General Assembly, manages and represents the corporation. The Board holds the authority to decide on any transaction or matter necessary to achieve the company’s overarching goals. Notably, membership on the Board of Directors does not require shareholder status; it can be held by either a real or legal person.


ii. Limited Liability Company

A Limited Liability Company is established by one or more individuals or legal entities with a specified capital. Similar to shareholders in a Joint Stock Company, the liability of Limited Liability Company shareholders is limited to the capital shares they have acquired. However, shareholders in a Limited Liability Company may be subject to additional payments and supplementary liabilities as stipulated in the Articles of Association. This provision is occasionally employed to define extra payment responsibilities for shareholders, serving as a preventive measure against a company’s potential financial challenges.

A Limited Liability Company can be established with a minimum capital of TRY 50,000.00 (Fifty Thousand Turkish Liras), divided into shares valued at TRY 25.00 (Twenty-Five Turkish Liras) or multiples thereof. This can be initiated by at least one shareholder, with a maximum limit of 50 (fifty) shareholders, and is designed to engage in any lawful economic activity.

The two indispensable organs of a Limited Liability Company are the Shareholders’ Assembly and the Manager or Board of Management. It is important to note that the management and representation of a Limited Liability Company are overseen by a manager and/or a Board of Management. It is crucial that at least one shareholder possesses managerial authority. Moreover, in the case of multiple managers, one must be designated as the Head of the Board of Managers. The management and representation of the Limited Liability Company can be delegated to one or more shareholders, all shareholders, or a third party. Managers hold the authority to make decisions and conduct any matters related to management not expressly delegated to the general assembly by law or the Articles of Association.


iii. Independent Audit

It is critical to explain that Companies are subject to Independent Audit pursuant to Turkish Audit Principles as per the Turkish Commercial Code and in accordance with the terms of the 2018-11597 numbered Presidential Decree, and companies subject to Independent Audit are also required to create a website and allocate some of this website to the announcements required by law.


iv. Company Establishment Process

In Türkiye, the business formation procedure is facilitated by an electronic system known as MERSİS, and the supporting documents are transmitted to the trade registration following the submission of an online application to the system. The documents specified in the relevant regulations of the Company types for the establishment of the Joint Stock Company and Limited Liability Company shall be registered before the respective Trade Registry Office of the city where the Company will be founded.



Exploring or expanding business endeavours in Türkiye is a strategic choice for foreign investors, given the country’s position as one of the world’s fastest-growing economies. Türkiye’s appeal stems from its advantageous geographical location, diverse economy, and the array of investment opportunities supported by the government. The Investment Office of the Presidency of the Republic of Türkiye plays a pivotal role in promoting these opportunities globally, providing comprehensive assistance to investors throughout the entire process—before, during, and after their entry into Türkiye.

Indeed, there are other compelling reasons to make an investment in Türkiye, as stated in the below mentioned-opportunities;


i. ‘Istanbul Finance Centre’, the establishment steps of which are almost completed

he Istanbul Financial Centre (“IFC“) is designed to enhance the financial competitiveness of the Republic of Türkiye on the global stage. Its objectives include contributing to the growth and expansion of financial markets, fostering the development of diverse financial products and services, reinforcing integration with international finance and capital markets, and adapting to technological advancements in financial markets. Furthermore, the IFC aims to facilitate the management of activities by foreign credit institutions, financial entities, and organizations, as well as other individuals and entities, domestically and position itself as one of the leading global financial centres.

Law No. 7412 on IFC regulates the provisions on the field, management and operation of IFC and the activities carried out within the scope of IFC and primarily discounts, exemptions, other tax advantages and some conveniences are envisaged primarily for companies holding a participant certificate. The IFC aims to bring together a diverse array of financial institutions and organizations, including banks, capital markets institutions, participation finance companies, financial investment and portfolio management companies, and insurance companies within a unified location. Incentives are structured to encourage sustainable and participatory approaches across all financial services, with a special emphasis on fostering international trade activities.

In addition to its emphasis on strategic sub-sectors such as banking, insurance, green finance, financial technologies, and participation finance, the Istanbul Financial Centre (IFC) strives to provide support to portfolio management, wealth management, project finance, fund management, and reinsurance companies operating within the international financial services sector, aligning with global best practices. Furthermore, the IFC aims to foster a comprehensive ecosystem in the region by supporting financial services activities, including the involvement of consultancy, IT, telecommunications, and financial technology companies. This multifaceted approach is geared towards establishing the IFC as a hub for a diverse range of financial services and related industries. The eligibility for discounts, exemptions, and other tax advantages outlined in the Law is contingent upon obtaining a participant certificate, maintaining an office space, and engaging in the export of financial services. However, for regulations focused on attracting qualified human resources, the sole requirement is obtaining a participant certificate and having a designated office space.

In this regard, the IFC stands as a highly prized opportunity for both local and international investors, providing a comprehensive platform for various exemptions and incentives. With its strategic focus on fostering key financial sub-sectors, including banking, insurance, green finance, financial technologies, and participation finance, the IFC aims to create a conducive environment for entities engaged in portfolio management, wealth management, project finance, fund management, and reinsurance within the international financial services sector. The prospect of benefiting from discounts, exemptions, and tax advantages, subject to conditions such as obtaining a participant certificate, maintaining an office space, and exporting financial services, makes the IFC an attractive destination. Moreover, the regulations tailored to attract qualified human resources further enhance the appeal of the IFC, making it a sought-after hub for investors looking to capitalize on a wide array of financial opportunities and incentives.


ii. Information and Communication Technologies in Türkiye

Türkiye’s Information and Communication Technologies (ICT) sector has evolved into a crucial component of the national economy, showcasing remarkable growth with exports surpassing USD 2 billion to key regions including the EU, Middle East and North Africa (MENA), Asia, and North America. The ICT sector, encompassing software, hardware, equipment, and services, plays a pivotal role in Türkiye’s international trade, with over 70 percent of exports directed to the EU—highlighting the European Union as Türkiye’s primary export destination in this sector. This robust performance underscores the sector’s significance and its ability to contribute substantially to Türkiye’s economic landscape on a global scale.

The ICT sector, estimated to have garnered around USD 19 billion in International Direct Investment (IDI) since the early 2000s, has emerged as a significant driver of employment in Türkiye. The sector has created jobs for over 185,000 individuals, reflecting its substantial impact on the national workforce. Notably, more than 40 percent of the employment in the ICT sector is attributed to Research and Development (R&D) personnel, underscoring the sector’s commitment to innovation. Furthermore, a noteworthy 58 percent of the sector’s employees are under the age of 35, emphasizing the dynamic and youthful nature of the workforce contributing to the growth and vibrancy of Türkiye’s ICT industry. The ICT sector holds a strategic position in Türkiye, evidenced by its recognition as a priority sector, leading to a series of initiatives aimed at fostering investments in this domain. One pivotal measure is the R&D Law, instituted in 2008, and subsequently renewed and reinforced in 2016. This legislation delineates specific R&D areas and provides a spectrum of incentives. The incentive package encompasses critical benefits such as corporate tax exemptions, Value Added Tax (VAT) exemptions, and social security premium support. These proactive steps underscore Türkiye’s commitment to promoting innovation and technological advancement within the ICT sector, making it an attractive destination for both domestic and international investors.

According to the ‘Technology Development Zones Statistics – February 2024’ report of the Ministry of Industry and Technology, it is stated that there are 101 Technology Development Zones (“Technopark / Silicon Valley”) in Türkiye as of January 2024, 89 of which are actively operating and 12 of which are still in infrastructure works. When the statistics on Technoparks are analysed, it is seen that in all Technoparks;

  • There are 10.275 companies and 464 of these companies are foreign companies or companies with foreign partners,
  • 841 incubation companies,
  • The total export rate reached 10,2 billion USD as of January
  • A total of 108.360 people has been employed
  • 997 projects have been completed by utilising incentives and 15.558 projects are still ongoing,

Türkiye’s young technical personnel pool, supported by various initiatives, has begun to generate unicorn companies. With this momentum, Türkiye is confidently progressing towards the creation of numerous additional unicorn companies, attracting a growing interest from foreign investors.


iii. Defence and Aerospace Industry in Türkiye

The Turkish defence and aerospace industry has undergone a comprehensive transformation in the last decade. With its unprecedented achievements in recent years, Türkiye is now one of the fastest developing countries in the fields of defence and aerospace. The experience of Turkish defence and aerospace companies, which are engaged in many different initiatives, offering products that compete on a global scale and playing key roles in international projects, and the importance they attach to quality are clearly evident. With their skilled workforce and state-of-the-art technology infrastructure, Turkish companies are able to offer global solutions to many countries that meet their local requirements. These Turkish companies are active in many critical areas of the defence and aerospace sector, from indigenous design development to domestic production, from modernisation to modification, from R&D activities to international projects.

In the years when the infrastructure of the domestic defence industry was being established, the preferred method of working was to cooperate with countries and companies that were prominent in the international arena, and to engage in joint production. This approach has enabled the national defence industry to successfully carry out numerous defence projects such as the MİLGEM warship, ALTAY main battle tank, ATAK helicopters and unmanned aerial vehicles (UAVs). Building on these experiences, Türkiye has started to undertake indigenous projects such as the KAAN, ANKA unmanned aerial vehicle, the HÜRKUŞ light attack and armed reconnaissance aircraft, the GÖKTÜRK satellite, the light utility helicopter and the fighter jet. In addition, projects have been initiated to develop some important subsystems and technologies to support these programmes. Today, with the contribution of many indigenous projects, the Turkish defence industry has reached a highly developed position in terms of its capabilities, quality and competence. The Turkish defence industry not only meets the needs of the Turkish Armed Forces, but is also one of the major players in the highly competitive international defence market. In the coming years, when important national defence projects will be completed, the share of the Turkish defence industry in domestic and international markets will increase.

As of 2024, Türkiye has significantly bolstered its defence capabilities by allocating USD 40.5 billion for its defence budget. This marks an impressive increase of approximately 250% compared to previous years, underscoring Türkiye’s commitment to strengthening its defence capabilities and ensuring national security. in parallel with the development of the Turkish aerospace and defence sector in the last decade, export and international cooperation opportunities for Turkish companies have also increased. Thus, in January 2024, the Turkish Defense and Aerospace Industry sector achieved exports totalling 330 million 248 thousand US dollars which figures indicate a notable growth of 18.4% compared to January 2023, highlighting the sector’s sustained positive performance in international trade.

In 2022, the defence and aerospace industry achieved exports amounting to USD 4.4 billion. Breaking a new record in 2023, the industry increased this figure to USD 5.5 billion. Thanks to its advanced and qualified production capacity, the sector is poised for continued growth in 2024, setting a positive agenda for prospective investments in the industry. In addition, while defence projects with a budget of approximately USD 5.5 billion were being carried out in 2002, the current project volume has reached USD 55.8 billion, an increase of approximately 10 times. Considering the ongoing projects in the tender process, this amount is estimated to be over USD 60 billion.

An additional noteworthy development is the ambitious target set for the number of air passengers, reaching 230 million 822 thousand 123, as indicated in the “Aircraft, Passenger, Cargo Series and Forecasts Report” published by the General Directorate of State Airports Authority (DHMI) under the Ministry of Transport and Infrastructure. Building on the previous year’s total of 214 million 232 thousand 985 passengers, which includes direct transit passengers, the projection for the current year anticipates a substantial increase of approximately 7.7 percent. This growth trajectory, encompassing both domestic and international routes, contributes significantly to Türkiye’s overarching goal of establishing itself as a prominent civil aviation centre.


iv. Government support for local and foreign investments Türkiye

Türkiye has strengthened its position as a country that attracts foreign capital from all over the world, owing to the long-term prospects and chances it provides to investors. Foreign direct investment regulations in Türkiye require equal treatment of foreign and domestic investors. There is also an incentive mechanism for investments in Türkiye, which is carried out in collaboration with the Ministry of Industry and Technology and is tied to the location of the investment, its value, and the industry in which the investment will be made. In this context, the state offers significant advantages to investors, including the potential of exemption from value-added tax, reductions in customs charges, and exemption from customs tax, in addition to providing a location for investment and other possibilities and capabilities. To assist investors and small earners, the Turkish government approved the investment program in 2021, which was signed by Turkish President Recep Tayyip Erdogan, and stipulated the allocation of 138.3 billion TL (the dollar exchange rate at the time was about 7.5 TL) to implement 3,091 projects, and then in 2022, the Turkish government approved the investment program in 2021, which stipulated the allocation of 138.3 billion TL (the dollar exchange rate at the time was about 7.5 The sum allotted for investment climbed dramatically at the start of 2022, reaching 184.3 billion TL for investment in various economic sectors in Türkiye. In this context, the Presidential Investment Office has introduced a range of incentive programs, encompassing general, regional, strategic, and project-based incentives, such as VAT exemption, customs duty exemptions, corporate tax reduction, income tax withholding support, and land allocation, aiming to foster an ideal investment environment for investors. Therefore, in 2024, it is anticipated that Türkiye will introduce additional incentives to attract a higher number of investors, both local and international, fostering an investment-friendly environment with a diverse range of opportunities.


v. Infrastructure is available for any form of investment

With a focus on enhancing speed and safety in transportation and communication infrastructure, Türkiye has set ambitious targets, including the construction of 1,760 kilometres of new highways by 2028 and an additional 3,767 kilometres between 2029 and 2035. As part of the broader goal to establish Türkiye as a logistics base, the share of railways in transportation investments is projected to reach 60 percent by 2023. Furthermore, there is a commitment to providing 100-megabit per second internet service to every home, aligning with the objective of ensuring high-speed and widespread connectivity. In the realm of telecommunications, Türkiye is actively pursuing the goal of achieving 100 percent population coverage with 5G technology, positioning itself as a favourable destination for investments in this cutting-edge sector. Moreover, Türkiye is actively exploring opportunities within the framework of its aspirations to advance into 6G technology, emphasizing its openness to innovative and forward-looking investment ventures.


vi. Diversity and distinctiveness of investment opportunities

Aside from the availability of a robust and integrated infrastructure, the investor in Türkiye has numerous distinct advantages, the most notable of which is the number of investment opportunities in many areas. Where the investment alternatives with economic feasibility develop for individuals who want to invest in Türkiye, and we discuss some of these options below: Türkiye’s industrial investment. Investment in agriculture and food. Investing in the service industries. Commercial venture. Türkiye Real Estate Investing. Information and communication Medicine and Healthcare Services in finance


vii. Potential to achieve outstanding returns

One of the most crucial things that makes an investment in Türkiye appealing is the chance of obtaining exceptional profits. As a suitable environment for investment in Türkiye, the country’s laws encouraging it, the country’s strategic location and proximity to major markets on three continents, and Türkiye’s possession of a modern and advanced infrastructure network (seaports, air, highways, and internal and external train lines) that aid in the transportation and exportation of various products quickly and easily. The availability of a skilled and strong workforce, as well as acceptable and affordable pay, are all determinants of the strength of investment in Türkiye, and the confirmation of its financial feasibility proves that investing in Türkiye is practicable. The availability of a professional and strong workforce, as well as appropriate and affordable pay, are all determinants of the strength of investment in Türkiye, and the confirmation of its financial feasibility proves that investing in Türkiye is viable and beneficial.

Türkiye’s growing geopolitical significance, heightened by factors like the war between Russia and Ukraine, coupled with its exceptional services across land, sea, and air routes—particularly in the logistics sector—alongside its pivotal role as a connection point between the East and the West, positions the country as a promising investment destination with the potential for a high rate of return.


viii. Consistent economic growth

One of the benefits of investing in Türkiye is that its economy is promising. The Turkish economy has dominated global economic growth indicators, ranking second after Britain in economic growth indicators among the Organization for Economic Cooperation and Development’s most developed countries during the second quarter of 2023, with a growth rate of 4%. Thus, in the last quarter of the previous year, Türkiye emerged as the second-fastest-growing economy among OECD member countries, as indicated by annualized economic growth data. Croatia secured the top spot with 4.3 percent growth, followed by Slovenia at 2.2 percent. Within the G20 nations, China led with the highest growth rate of 5.2 percent, followed by Indonesia at 5 percent, with Türkiye ranking third on the list.

Meanwhile, Türkiye’s exports climbed to 255,8 billion in 2023 while global trade contracted by 2 trillion dollars last year, this export value was recognized as the highest in the Republic’s history. Foreign trade volume climbed 52 billion 110 million dollars. All of these indicators of the Turkish economy’s strength highlight the benefits and significance of all types of investment in Türkiye.


ix. The increasing trend towards Türkiye from all countries of the region

The increased orientation towards Türkiye from all countries in the region is within the context of the factors attracting investment to Türkiye, especially since recent supply chain turmoil has resulted in a shift in the paths of the global economic giants towards Türkiye, and the availability of factors such as strategic location, investment environment, infrastructure, and manpower, among others that we have already mentioned. This offers an advantageous environment for bringing global corporations to Türkiye. Nonetheless, the recent spike in global shipping prices has strengthened Türkiye’s appeal to major European investors. The substantial rise in transportation costs, as well as the spread of the Coronavirus, the war between Ukraine-Russia, the instability in the Middle East have transformed Türkiye into an investment magnet, owing to the geographical and cost benefits it offers to many worldwide corporations.

Several prominent European corporations across industries including furniture, pharmaceuticals, textiles, and packaging have unveiled new investment plans in Türkiye, leveraging its advanced infrastructure and extensive logistical capabilities. Fitch, the international credit rating agency, affirmed in its latest report that Türkiye is poised to reap significant advantages from alterations in European supply chains. This influx of investment and positive evaluations further solidify Türkiye’s appeal as a strategic destination for businesses looking to capitalize on its favourable economic landscape. The amended Turkish laws provide remarkable benefits for foreign investors, as newly established companies in Türkiye are given a period ranging from 6 months to a full year to organize their operations before being subjected to tax accounting and before meeting the “five Turkish employees for every foreign employee” formula.

The amendment to the law on granting Turkish citizenship through investment, which reduced the value of the foreign investment in Turkish real estate from $1 million to $400,000 in exchange for obtaining Turkish citizenship in exchange for real estate, is one of the most prominent titles of Turkish attraction to Arab capital. The change to the Naturalization Law also allows for the issuance of Turkish citizenship to people who deposit approximately $500,000 in the Turkish treasury or employ approximately 50 Turkish workers in a foreigner-owned investment in Türkiye.


x. A stable environment in various fields

Trade and economic openness with all countries of the world, as well as the diversity of its investment fields, have resulted from its political stability to a significant extent, and its acceptance of the free economy strategy for many years. Through its strategic location, free trade network, excellent logistical infrastructure, diversification of production sources, tax benefits, and skilled Labor, Türkiye provides multinational enterprises with an appropriate environment to access the global value chain. As a result, Türkiye’s strategic location has attracted numerous multinational corporations as a hub for production, export, and management, allowing them to participate more efficiently in the global value chain.


xi. Promising government plans towards expansion in all fields of investment and economy

Türkiye is adopting an innovative economic approach based on encouraging investments, creating an environment conducive to job growth and sustainability, imposing low-interest rates, balancing the demand for foreign exchange by reducing imports, increasing exports, benefiting from a competitive exchange rate, and increasing investments in order to form an economic structure capable of resisting external shocks by attracting foreign direct investment to Türkiye rather than hot mopping up. Türkiye has increased its share of government investments in the 2022 budget, which experts believe is justified in order to achieve the 2023 dream projects.

Meanwhile, Turkish Finance Minister Mehmet Şimşek has expressed optimism that the rising inflation rate, influenced by global factors and the devastating earthquake in February 2023, will decrease in 2024. He anticipates that this year will bring significant gains for Türkiye, emphasizing the country’s commitment to reinforcing its economic plan and attracting both domestic and international investments. These statements underscore the government’s positive outlook and ambitious goals for advancements in various investment sectors, enhancing the overall appeal and viability of investment prospects in Türkiye.

All of the factors listed above should serve as motivation for any potential investor considering an investment in Türkiye. There is also some good news about our country. TOGG, Türkiye’s world-class design model and 100% Turkish automobile, concluded the year 2023 as the leader in electric car sales. This achievement highlights its effective competitive strength in both national and international markets and it is expected that TOGG will conquer Europe beginning in 2024, is no longer a simple endeavour that repositions Türkiye as a car manufacturer on the global stage. Furthermore, technological advancements in our country continue to reverberate around the world. The autonomous software and pilotless “fully autonomous” flying car AirCar, which was founded in Türkiye’s Silicon Valley in 2017 and is both an investor and a developer, pushes us closer to a future in which flying cars roam the skies. AirCar’s first prototype and test flight have been accomplished. The electric and fully autonomous vehicle, having a range of 80 kilometres with one passenger and 50 kilometres with two passengers, is scheduled to fly over Istanbul in 2025.



Türkiye’s legal system, grounded in civil law principles, shares fundamental similarities with that of continental Europe. Operating as a civil law country, Türkiye possesses a codified set of laws delineating the procedures to be adhered to within its jurisdiction. This codification of rules stands as a crucial appeal for foreign investors, as the requirements, consequences, and liabilities are clearly stipulated in primary legal sources, including the constitution, laws legislated by the parliament, and decrees issued by the Presidency. Additionally, secondary sources, such as by-laws, regulations, and communiqués, contribute to providing a comprehensive legal framework for investors navigating Türkiye’s legal landscape.

In general, the Turkish legal system is divided into three levels: first-instance courts, district courts, and supreme courts.

The above-mentioned chart illustrates the fundamental structure of the court system, encompassing specialized courts for specific legal subjects. Notably, within civil law courts, one can find entities such as commercial courts, consumer courts, enforcement courts, family courts, Labor courts, and more. Additionally, current regulations in Türkiye mandate the use of mediation before initiating legal proceedings, particularly in Labor and commercial cases. This mandatory mediation step has proven advantageous for investors, as it allows for the swift enforcement of contracts without incurring court costs or additional expenses. Thus, this policy has, in turn, is an outstanding opportunity for investors to invest in Türkiye. Turkish Courts, in particular, want written evidence before deciding on any matters, therefore gathering documentation before applying to any court is crucial. In this regard, we encourage all of our clients not to act unilaterally on any of their operations without first consulting with their lawyers, because most transactions in Türkiye must comply with the form requirements specified by the relevant laws.



The Foreign Direct Investment Law Numbered 4875 (“FDI Law “) and the Regulation on the Implementation of the Foreign Direct Investment Law are the primary regulations that establish Türkiye’s foreign direct investment regime. According to the FDI Law, an FDI is defined as follows Turkish law:

“…Convertible cash capital in currencies that are traded by the Turkish Central Bank, Company Securities, Machinery and Equipment and Industrial and intellectual property rights that are brought to Türkiye from overseas or; rights related to the profit, revenue, money receivable or investment having financial value used in the investment, Rights for exploration and extraction of natural resources, that provided domestically in order to;

Establish a new company in Türkiye or,

Acquire shares outside the stock exchanges or acquiring a shareholding in an existing company through acquisitions that provide at least 10% of the shares or equal voting rights…”

A Foreign Direct Investment, as per the aforementioned definition, is treated on par with domestic investment. However, under prevailing regulations, foreign direct investments cannot be subject to expropriation or nationalization unless deemed necessary for the public interest, and in such cases, appropriate compensation must be provided. Consequently, as outlined in the FDI Law, there are no limitations on the amount of foreign investment, except in certain sectors governed by specific regulations. This regulatory framework aims to foster an environment conducive to foreign investment in Türkiye, ensuring fair treatment and protection of investors’ interests.

Secondly, net profits, dividends, sales proceeds, liquidation and compensation, licensing fees, management fees, and similar agreements, as well as payments related to foreign loans, including principal and interest, and foreign credit transactions arising from the activities of Foreign Direct Investments in Türkiye, can be freely transferred abroad through banks or special financial institutions. Thus, general rule ensures the ease of financial transactions and the facilitation of international fund transfers for entities engaged in Foreign Direct Investments within Türkiye and making Türkiye a top investment – friendly country in MENA region.



The new investment incentive scheme has been specifically designed to stimulate projects that have the potential to lessen the country’s reliance on intermediate goods, which are critical to the country’s vital industries.

Among the key goals of the new investment incentive system are to reduce the current account deficit, expand investment supports offered to less developed regions, increase the number of support elements, promote clustering activities, and encourage investments to provide technology transformation.

The new investment incentive system, which went into effect on January 1, 2012, is divided into four distinct regimes. The following incentives are available to both domestic and foreign investors:


i. General Investment Incentive Practices

Irrespective of the investment region, all projects meeting the specified capacity standards and minimum fixed investment amount receive support under the General Investment Incentive Practices. These practices primarily encompass exemptions such as VAT on purchased equipment and customs duty exemptions.


ii. Regional Investment Incentive Practices

While the sectors to be supported in each region are defined by the region’s potential and the local economic scale sizes, the intensity of the supports to be offered varies based on the region’s level of development. These essentially cover land allocation, interest rate support, corporate tax reduction, and exemptions like VAT on construction and machinery, as well as customs duty exemption.


iii. Large Scale Investment Incentive Practices

Türkiye’s potential as a technology-specific investment issue is promoted in order to develop R&D capability and competitiveness. These essentially cover land allocation, interest rate support, corporate tax reduction, VAT exemption on construction and machinery, customs duty exemption, social security premium support, energy support, purchase guarantee, and facilitation in permitting processes.


iv. Strategic Investment Incentive Practices

Within the scope of Strategic Investment Incentive Practices, investments that meet the following conditions are supported:

  1. The domestic manufacturing capability of the product to be manufactured with the investment should be less reliant on imports.
  2. Minimum investment of TRY 50 million; and
  3. Minimum added-value of 40%. (This condition is not applicable to refinery and petrochemicals investments)
  4. The total import value of the product to be created with investment should have been at least USD 50 million in the previous year (excluding the products that are not locally produced)

Each practice has a different type of benefit in order to these incentive practices, such as VAT exemption, customs tax exemption, tax discount, social insurance premium support, income tax withholding discount, social insurance premium support, interest rate support, land allocation, and VAT refund.



The Republic of Türkiye has become the first destination for all foreign investors worldwide since the Republic of Türkiye has one of the world’s fastest expanding economies, owing to its geographical location, diverse economy, and government-supported investment opportunities. According to the Doing Business Report, Türkiye has risen 10 positions to 33rd out of 190 countries. It is apparent that Türkiye has made significant progress in economic spheres, particularly when comparing all positions in the index over the last two years. Türkiye’s expectation is ranked 20th on the following ranking. All of the improvements and the rate of economic growth encourage investors to make direct investments within Türkiye’s borders.

Furthermore, the Turkish government continues to enact new legislation and reforms in order to improve the activities of Turkish corporate life, such as cost reduction and expedited procedures.

Also, last year may have been the year for Türkiye to publish new rules and reforms, because Türkiye wanted to boost investments with new regulations and reforms and actually achieved its goals. Thresholds and exemption amounts, in particular, were changed in the normal manner at the start of the year. A new income tax circular (No 314) introduced several tax exemptions for internet sales of homemade products beginning in April 2021. For 2024, the corporate tax rate has been set at 25%.

Indeed, there are customized solutions for each individual investor, acknowledging that a one-size-fits-all framework is neither relevant nor correct for all business endeavours in Türkiye. As a result, investors have the flexibility to conduct business in Türkiye and carry out their operations through a variety of legal structures. In making these decisions, factors such as the business plan, exit strategy, commercial structure, minimum capital, shareholders’ obligations, liability and responsibility of executives, audit processes, and mandated penalties are carefully considered. For most investors engaging in economic activities in Türkiye, the establishment of corporations, branches, or liaison offices is a common practice. It is important to note that the Turkish Commercial Code numbered 6102, which has been in effect since July 2012, applies to corporate companies incorporated in Türkiye.

In light of the receding impacts of Covid-19 on global supply chains, the substantial negative effects of the Russia-Ukraine war on energy prices and the overall global trade rate, coupled with the ongoing instability in the Middle East, Türkiye emerges as an attractive destination for both foreign and local investment. Its strategic geo-political location, commercial potential, and the array of incentives and exemptions offered to investors contribute to positioning Türkiye as an ideal investment hub in 2024, showcasing a resilient environment amidst global challenges.


Best Regards,

Kılınç Law & Consulting








Levent Lezgin Kılınç, Founding Partner

Levent Lezgin Kılınç, Founding Partner of Kılınç Law & Consulting discusses the establishment and expansion of the firm in Turkey.

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

From day one, our mission at Kılınç Law & Consulting has been to provide exceptional legal support to foreign clients investing in Turkey. As the founder of the firm, I see it as my personal responsibility to help those living in a foreign country, having experienced this firsthand during my six years in the US. While we share many qualities with our competitors, what sets us apart is our youth and dynamism. Our team of young lawyers is passionate about learning and always strives to serve our clients in the fastest and most efficient way possible. We understand the importance of making our clients feel comfortable and confident in our ability to swiftly provide solutions to their legal problems, so they can move forward without worry.

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

As we all know, elections can have a significant impact on the business environment in Turkey. However, I am optimistic that the upcoming term will create a more stable environment that will inspire greater confidence among investors. As a result, I anticipate that our M&A, Project Finance and Real Estate departments will experience a surge in workload over the next 12 months.

With increased stability and confidence in the Turkish market, I believe that more companies will look to merge with or acquire other businesses to expand their operations and take advantage of new opportunities. This trend is likely to be driven by a range of factors, including growing demand for Turkish goods and services, increased political stability, and the overall growth of the Turkish economy.

At Kılınç Law & Consulting, we are well-equipped to handle this increased demand for Real Estate, M&A and Project Financing services, with a team of experienced lawyers who are dedicated to helping clients navigate the complexities of the legal process. We look forward to working with our clients to help them achieve their business goals in the coming year.

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

At Kılınç Law & Consulting, we are constantly seeking ways to enhance the quality of our services and provide greater value to our clients. One of the key changes we have made recently is to expand our network of partnerships with other law firms in the region to create our own international legal service provider capability.

As Kılınç Law & Consulting, we are proud to offer legal services to our clients in a range of countries, including the UK, the US, Azerbaijan, the UAE, KSA, Qatar, Kuwait, and Bahrain. Through our partnerships with esteemed law firms from the EU and Gulf countries, we are committed to providing our clients with access to the best legal advice and representation, no matter where they are in the world.

We believe that this expansion of our network will provide significant benefits to our clients, including greater flexibility, broader expertise, and a wider range of services. By partnering with leading law firms from around the world, we are able to offer our clients a truly global perspective and a deep understanding of the legal and business landscapes in different regions.

Overall, we are committed to providing our clients with the highest level of service, and we believe that our expanded international capabilities will help us achieve that goal. We look forward to working with our clients to help them achieve their legal and business objectives, wherever they may be located.

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

At Kılınç Law & Consulting, we are always looking for ways to leverage technology to improve our services and enhance the client experience. To achieve this, we have implemented various tools and systems that help our lawyers work more efficiently and effectively. By streamlining our internal processes and reducing the time our lawyers spend on administrative tasks, we are able to focus more of our time and energy on serving our clients.

In addition, we are constantly exploring new technologies and innovations that can benefit our clients. For example, we have developed online portals and other digital platforms that enable clients to access legal documents, track the progress of their cases, and communicate with their lawyers in real time. We also use advanced data analytics tools and AI-powered legal research platforms to provide our clients with the most accurate and up-to-date information and legal advice.

Of course, we recognize that not all clients are comfortable with technology, and we always offer a range of options for communicating with us and accessing our services. Whether it’s through traditional channels like phone and email or through the latest digital tools and platforms, we strive to provide our clients with the flexibility and convenience they need to achieve their legal and business objectives.

Overall, we believe that technology is transforming the legal industry in exciting ways, and we are committed to staying at the forefront of these changes to provide our clients with the best possible service.

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

At Kılınç Law & Consulting, we believe that our role is not just to provide legal advice, but also to help our clients achieve their broader business goals. One recent example of this was when we assisted one of our foreign clients to sell all their assets in Turkey in early 2023.

Our team worked closely with the client to understand their objectives and priorities and then developed a comprehensive exit strategy that would allow them to maximize the value of their assets while also minimizing any legal or financial risks. We helped them identify potential buyers, conducted due diligence and negotiated the terms of the sale on their behalf.

As a result of our efforts, the client was able to sell their assets at a favorable price and use the proceeds to invest in other areas of their business. They were extremely pleased with the outcome, and we were proud to have played a role in helping them achieve their goals.

This is just one example of how we work with our clients to add value to their businesses. By taking a holistic approach to their legal and business needs, we are able to provide them with the strategic guidance and support they need to succeed.

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

The main focus of Kılınç Law & Consulting is not on increasing the number of clients or employees, but on maintaining a stable and supportive work environment where everyone feels like family. As the founder, the office is like a second home to me and my colleagues are like family members. This approach creates a better work atmosphere, which translates into better service to clients. As long as the team feels like family and works together cohesively, the trust relationship with clients will strengthen, leading to more clients and a better reputation for the firm. In the next three years, the goal of Kılınç Law & Consulting is to continue fostering a supportive work environment while expanding its network of law firms to provide international legal services to clients.

Levent Lezgin Kilinç, Founding Partner

1) What do you see as the main points that differentiate Kilinc Law and Consulting from your competitors?

There is many key differentiators that set us apart from our competitors. Firstly, our firm’s commitment to delivering personalized and comprehensive legal solutions tailored to each client’s unique needs stands out prominently. To achieve our client-centric goals, we personalize our services through in-depth consultations, aligning client concerns and goals with their long-term objectives and risk tolerance. Additionally, we provide flexible service options, ongoing support beyond legal matters like strategic planning and strong, trusting relationships based on transparency, and collaboration.

Secondly, our team comprises highly skilled and experienced legal professionals with deep industry knowledge across various sectors, from corporate law to dispute resolution, covering a wide spectrum of legal field. We as Kilinc Law & Consulting believe that this enables us to provide comprehensive legal services that address a diverse array of client needs, ensuring thorough coverage across different subject areas and delivering tailored solutions to meet every aspect of our clients’ legal requirements. Thus, in Kilinc Law and Consulting, our 18 specialized departments, staffed with experienced professionals with their strong academic backgrounds distinguishes themselves through sectoral expertise and accessibility.

Another significant point that sets Kilinc Law and Consulting apart is our extensive network throughout the Gulf Region and Europe. With offices strategically located in Qatar, Kuwait, the UAE, Saudi Arabia, and London, we are well-positioned to address all international needs and requests of our clients, providing seamless support and expertise across borders. We believe that this is another point that sets us apart, as this network enables us to expedite the process of international connections for the client, introducing them to valuable contacts to foster continuous and stronger bonds.

In this manner, I believe that Kilinc Law and Consulting is a law firm where clients can find personalized legal solutions for both their local and international needs, delivered by experienced and accessible members of our team. We pride ourselves on our clear and effective approach, ensuring that our clients receive the highest quality of service and support.


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

In the aftermath of the devastating earthquake that struck in February 2023, the construction sector is poised for significant growth over the next 12 months. The urgent need for infrastructure reconstruction and rehabilitation presents a prime opportunity for expansion within the construction industry. As communities strive to rebuild and fortify their infrastructure against future seismic events, there will be heightened demand for construction services, particularly in seismic retrofitting, structural reinforcement, and resilient building design. Furthermore, the Energy sector is also expected to experience notable growth in the coming year, driven by various factors including the aftermath of the earthquake and regional instabilities affecting energy prices and supply chains. The seismic activity may lead to increased investment in renewable energy projects, as governments and stakeholders seek to diversify energy sources and bolster resilience against disruptions in traditional energy infrastructure.

Also, regional instabilities may prompt a greater emphasis on energy security, driving investments in domestic energy production and alternative supply routes to mitigate geopolitical risks. Moreover, the effects of regional instabilities on energy prices and supply chains are likely to spur innovation and investment in energy efficiency measures and technologies. Companies may prioritize initiatives aimed at reducing energy consumption and optimizing resource utilization to mitigate the impact of fluctuating energy costs and supply disruptions.

So, the anticipated growth in the construction and energy sectors over the next 12 months will be fueled by a combination of rebuilding efforts post-earthquake, shifts in energy market dynamics due to regional instabilities, and the imperative to enhance resilience and sustainability in the face of emerging challenges.

Defence industry is also a huge economic trend while technological advancements in the sector are at a high speed and export and import rates reached at all time high value. This is why it can also be seen as a growing sector and may create various business opportunities.

Thus, the high demand in the construction and energy sectors, leads the increase in investment intentions and is likely to spur a rise in M&A projects, both domestically and internationally since 8 billion USD worth of M&A deals has already been concluded in 2023. So essentially with the post-election atmosphere as Türkiye entered a new economic positive agenda, growth of economic volume will not be a surprise for these sectors.

This openly shows that Türkiye is a great market for the sectors I mentioned and their potential to grow at a high speed. That is why as companies seek to capitalize on the expanding opportunities within these sectors, M&A transactions offer a strategic avenue for consolidation, expansion into new markets, and diversification of capabilities. So we expect that the growth in both sectors is expected to create opportunities for lawyers, like us, and investors alike, fostering economic expansion and innovation.


3) What’s the main change you’ve made in the firm that will benefit clients?

In response to the evolving landscape of legal services, we as Kilinc Law & Consuling undergone significant transformations in 2024 aimed at enhancing client satisfaction and efficiency. One of the foremost changes involves the adoption of cutting-edge technology to streamline our operations and better serve our clients. With this adoption, our goal is to have a more efficient operational procedure that maximizes the ratio of time to cost, ensuring that we achieve a service of value.

Moreover, recognizing the importance of safeguarding client data and documentation, we’ve invested in the development of a proprietary software solution tailored to our specific needs. This innovative platform not only ensures the secure storage of sensitive information but also facilitates seamless access and retrieval, enabling us to deliver prompt and precise legal services while maintaining the utmost confidentiality. These strategic initiatives show our commitment to optimizing our processes to meet the evolving needs of our clients effectively all while ensuring the security and protection of their data

In tandem with our technological advancements, we’ve also implemented strategic changes aimed at further enhancing the client experience and maximizing outcomes. Among these improvements is the establishment of service teams dedicated to providing personalized attention and tailored solutions for each client’s unique needs. This client-centric approach fosters stronger relationships and ensures that every client receives the highest level of support and guidance throughout their legal journey. Also we have invested more to host a variety of academic and networking events to provide our clients with opportunities to connect with professionals from various sectors, and for our colleagues to delve into complex legal topics.

In this manner, with the aforementioned changes, we as Kilinc Law & Consulting aim to optimize our services to benefit our clients in the most efficient and expeditious manner possible.


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

Yes, we as Kilinc Law and Consulting, embrace innovation and technology to enhance the delivery of legal services. We leverage advanced legal research tools, case management systems, and secure communication platforms to optimize efficiency and effectiveness. By staying at the forefront of legal trends and advancements, we provide forward-thinking solutions that anticipate and address our clients’ evolving needs.

Indeed, as technology plays a pivotal role in revolutionizing the legal industry, it allows us to offer innovative services that were previously unavailable or impractical because of its high cost and accessibility. For instance, leveraging emerging technologies such as artificial intelligence, we are now conducting legal research with unprecedented speed and accuracy, which enables us to provide more comprehensive insights to our clients.

As Kilinc Law & Consulting, we also leverage automation systems for routine tasks to streamline our workflow, resulting in enhanced efficiency and enabling us to dedicate more time to delivering high-value services. By embracing technology in this way, we are better equipped to adapt to the dynamic landscape of legal services, ensuring that we remain agile and responsive to our clients’ needs.

Furthermore, technology facilitates seamless communication and collaboration with our clients, allowing for quick access to information and timely updates. These advancements not only optimize our internal processes but also enhance the overall client experience by providing greater convenience, transparency, and accessibility, which enables us to reach our goal of maintaining our position at the top of the legal landscape.


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

One notable example of how we added value to a client’s business is our assisting a client performing in energy sector navigating complex regulatory requirements for international expansion. The client, seeking to enter new markets in the Gulf Region, faced numerous legal hurdles, including compliance with local labor laws, intellectual property regulations, and import/export restrictions, as well as negotiation, preparation, and finalization of multifaceted complex SPA and SHA’s.

To streamline the process, our team conducted a comprehensive assessment of the regulatory landscape in each target country. This involved leveraging our extensive network in the Gulf Region and consulting with local experienced solution partners, as well as conducting our own detailed examination. Through this collaborative approach, we identified potential risks and opportunities, allowing us to develop informed strategies for navigating the regulatory environment effectively and prepare related agreements in details and negotiate with the counterparty in conformity with the client’s needs.

We then developed a tailored legal strategy that addressed these challenges while maximizing the client’s competitive advantage. Thus, the client successfully established operations in the region, achieved seamless market entry and ensured compliance with all relevant regulations. As a result, the client was able to expand its global footprint, increase market share, and enhance overall profitability.

We also not only maintained our relationship with the client until the completion of the project, but also strive to expand their networks to create additional opportunities for its investments.

In this context, leveraging our extensive network, we added value on the business of the client in gaining an understanding of the potential challenges they may encounter in the region, facilitated their access to local regulations, ensured compliance, and provided extensive throughout the M&A processes.


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

Yes, clients, particularly those with significant operations in the Gulf region, are increasingly seeking stability and strategic direction from their law firms since there is a huge trend of investment to the region for their impressive commercial centers with different kinds of incentives they may offer. or instance, Saudi Arabia has embarked on ambitious investments in the construction and infrastructure sectors as part of its Vision 2030 initiative, while Qatar is poised to become one of the most attractive investment centers in the region. So this is especially crucial in a dynamic and complex environment like the Gulf, where businesses face various legal and regulatory challenges.

This is why we understand the importance of stability and strategic guidance for all of our clients. With the help of our extensive network, I believe that we are well-placed to provide localized expertise and support to clients operating in the relevant region.

In three years’ time on the other hand, we envision our firm as the go-to legal partner for businesses in Türkiye, in Europe and in the Gulf who are seeking stability and strategic direction. We see ourselves further solidifying our position as a trusted advisor, known for our unwavering commitment to our clients’ success and our ability to navigate the legal complexities effectively.

We also believe that with 18 departments staffed by experts in their respective fields, we have the breadth and depth of expertise necessary to address our clients’ diverse legal needs comprehensively. Our firm’s focus on specialization ensures that our clients receive tailored solutions that align with their strategic objectives.

We recognize the importance of maintaining and strengthening these relationships by providing consistent, high-quality legal services and strategic guidance and In the coming years, we aim to further enhance our services, leveraging technology and innovation to better serve our clients’ evolving needs.

We also intend to expand our geographic footprint internationally and especially in the Gulf region, to ensure our clients that we are accessible wherever they may operate.

Overall, we see our firm playing a pivotal role in the legal landscape, where we offer stability, expertise, and strategic direction to our clients navigating the complexities of their investments legal procedures. Through our unwavering commitment to our clients and our relentless pursuit of excellence, we are confident in our ability to continue delivering value and driving success in the years to come.