Introduction
Foundations are defined under Turkish Civil Law No. 4721
("Civil Law") as a group of properties with legal
personalities, established through the allocation of appropriate
assets and rights for a certain and constant purpose by real
persons or legal entities. Foundations are considered to be legal
entities.
The Civil Law, Law on Foundations No. 5737, Regulation on
Foundations, Bylaw on the Registration and Announcement of the
Foundations that was published in the Official Gazette dated
26.04.2013 and numbered 28269, as well as other relevant
legislation, comprises provisions regarding the incorporation of
foundations. This article briefly analyzes the establishment steps,
management, auditing, purposes and activities, and termination of
foundations within the framework of the aforementioned
legislation.
