ArticleCMB Deploys Electronic System For SubmissionsOn February 5, 2024, the Capital Markets Board of Türkiye ("CMB") announced the launch of its new electronic system for submissions, known as "e-Başvuru Sistemi".TurkeyFinance and BankingEsin Attorney Partnership
ArticleDerivatives Transactions With Non-Residents DiscouragedWith its decision No. 10248 dated June 23, 2022, the Banking Regulatory and Supervisory Authority (the "BRSA") has taken a measure discouraging derivative transactions of the non-financial institution...TurkeyFinance and BankingEsin Attorney Partnership
ArticleForeign Exchange Prohibition Continues For Residential And Workplace Lease AgreementsThe Ministry of Treasury and Finance ("Ministry") published on its website an Announcement on Contract Amounts in Foreign Exchange ("Announcement") on October 13, 2020. TurkeyFinance and BankingEsin Attorney Partnership
ArticleLIBOR: What You Need To KnowTo date, 2019 has seen significant developments in connection with LIBOR transition. TurkeyFinance and BankingEsin Attorney Partnership
ArticleMajor Changes To Taxation Of Financial And Capital Markets TransactionsThe amendments introduced by the Law No. 7338 include major changes to the taxation of capital markets transactions and financial transactions.TurkeyFinance and BankingEsin Attorney Partnership
ArticleThe RUSF Rate Applied On The Loans Provided By The EBRD And The IFC Has Been Set To ZeroThe resource utilization support fund (RUSF) rate has been set to zero for the loans provided by the European Bank for Reconstruction and Development (EBRD) and the International Finance Corporation...TurkeyFinance and BankingEsin Attorney Partnership
ArticleTurkish Lira Borrowing Restrictions LiftedWith its decision dated 6 February 2025 and numbered 11145 (the "New Decision"), the Banking Regulatory and Supervisory Authority repealed its decisions dated 24 June 2022 and numbered 10250...TurkeyFinance and BankingEsin Attorney Partnership
ArticleUpdates On Turkish Banks' Utilization Fees And Prepayment FeesThe Communiqué Amending the Communiqué on the Procedures and Principles Regarding Fees Banks Can Charge Commercial Clients ("Amendment")...TurkeyFinance and BankingEsin Attorney Partnership
ArticleCosmetics Safety: Turkey Continues Cracking Down On Unsafe And Non-Compliant Cosmetic ProductsThe Turkish Medicines and Medical Devices Agency ("TİTCK") recently announced the results of its cosmetics sector market surveillance and inspection conducted between January and March 2020. TurkeyFood, Drugs, Healthcare, Life SciencesEsin Attorney Partnership
ArticleTİTCK Extends Validity Period Of GMP CertificatesThe Turkish Medicines and Medical Devices Agency recently announced the extension of the validity period of GMP certificates due to the pandemic.TurkeyFood, Drugs, Healthcare, Life SciencesEsin Attorney Partnership
ArticleTİTCK Publishes Guiding Document For Covid-19 Vaccine Research GroupsOn March 16, 2021, the Turkish Medicine and Medical Devices Authority ("TİTCK") published a document ("Document"), which provides guidance on quality and immunogenicity data that must be submitted...TurkeyFood, Drugs, Healthcare, Life SciencesEsin Attorney Partnership
ArticleYear In Healthcare: 2020Turkish Medicines and Medical Devices Authority published 280 announcements in 2020. 56 of these announcements are in relation to battle against COVID-19.TurkeyFood, Drugs, Healthcare, Life SciencesEsin Attorney Partnership
ArticleTurkish Constitutional Court Issues Decision On Collective Bargaining AgreementsThe Turkish Constitutional Court annulled the provision of the Unions and Collective Bargaining Agreements Law No. 6356 ("Unions Law") stipulating that the requests of employees who ...TurkeyGovernment, Public SectorEsin Attorney Partnership
ArticleTwo More Years For Financial RestructuringThe expected Law No. 7491 on Amendments to Certain Laws and Decree Laws ("Omnibus Law") entered into force upon its publication in the Official Gazette dated 28 December 2023...TurkeyInsolvency/Bankruptcy/Re-StructuringEsin Attorney Partnership
ArticleCoverage Of Turkish Eximbank's Credit Insurances ExpandsAmendments were made to the Principles Regarding the Establishment and Duties of Türkiye İhracat Kredi Bankası Anonim Şirketi through the Presidential Decree No. 5445 dated April 19, 2022.TurkeyInsuranceEsin Attorney Partnership
ArticleNew Amendments To Media Regulations In TurkeyThe Radio and Television Supreme Council ("RTUK") issued amendments to certain media regulations, which were published in Official Gazette No. 31485 on 18 May 2021TurkeyMedia, Telecoms, IT, EntertainmentEsin Attorney Partnership
ArticleCrucial Development For Foreigners On Real Estate Investments For Citizenship PurposesThe Regulation introduced important changes in the procedures to acquire Turkish citizenship by way of investment.TurkeyReal Estate and ConstructionEsin Attorney Partnership
ArticleNew Regulation On Property Acquisitions By Non-Turkish CitizensThe Central Bank of the Republic of Türkiye (the "CBRT") made important amendments to Article 13 of the Capital Movements Circular (the "Circular")...TurkeyReal Estate and ConstructionEsin Attorney Partnership
ArticleAn Increase In Withholding Tax Rates Applied To Years-Long Construction And Restoration WorksThe Presidential Decree No. 3491 ("Decree") published in the Official Gazette dated February 4, 2021, increased the income and corporate tax withholding rates applied under the...TurkeyTaxEsin Attorney Partnership
ArticleMonthly Delay Interest Rate For Public Receivables Redetermined As 2.5%The Presidential Decree No. 1266, published in the Official Gazette dated June 29, 2019 and No. 30816, redetermined the delay interest rate within the scope of Article 51 of the Law No. 6183 on the Collection Procedure of Public Receivables.TurkeyTaxEsin Attorney Partnership