202105.10
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Privatization of Taşucu Port

  According to the announcement of Directorate of Privatization Administration published in the Official Gazette dated 07.05.2021, Taşucu Port owned by Türkiye Denizcilik İşletmecileri A.Ş. will be privatized for a period of 40 years with the method of “Transfer of Operational Rights” and by the method of Sale of Immovables located at the Backfield of…

202102.08
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Surveillance Exemption in Import for Smartphone Production!

As it is common knowledge, surveillance is an application for monitoring the import of a product with the “Surveillance Certificate” to be issued by the Ministry of Trade. On this basis, a surveillance certificate is necessary in addition to the documents required by the customs legislation during import for the products subject to surveillance. While…

202102.04
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New Arbitration Rules of the LCIA

On August 11th 2020, the London International Court of Arbitration (“LCIA”) has officially accepted new arbitration rules. 2020 LCIA Arbitration Rules took effect on October 1st ,2020 and includes the following updates. As we struggle with the challenges posed by Covid-19 epidemic, parties are allowed to decide on the form of the hearing. Accordingly, it…

202101.08
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Owners of bearer share certificates are being recorded!

Provisions on the obligation of keeping commercial books, issuance of share certificate, transfer of share certificates in the Turkish Commercial Code (“TCC”) have been amended with the Law No. 7262 on Preventing the Financing of the Propagation of Weapons of Mass Destruction, published in the Official Gazette dated December 31, 2020. 1.              Keeping share ledger,…

202101.05
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Free Trade Agreement with UK: Tariff and Quota Free Trade

As it can be recalled, as of January 31st, 2020, the United Kingdom (“UK”) will exit the European Union and with the end of the transition period that commenced after Brexit on December 31st, any agreements and regulations between the EU and the UK will also be invalid. As of December 24, 2020, an agreement…

202012.03
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A new era in sharing financial data! Financial data on those living or working abroad could be shared with the country where they work.

International cooperation in the field of taxation and prevention of tax losses is being carried out with the participation of many countries and it is also pursued by European Union (“EU”) and Economic Cooperation and Development Organization (“OECD”) that Turkey is a part of and international organizations and formations such as G20. As a result…

202010.02
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Deadline for VERBIS Registry Has Not Been Extended, The Board Decided to Notify Those Who Did Not Apply

  Bilindiği üzere 6698 sayılı Kişisel Verilerin Korunması Kanununa (“Kanun”) göre kişisel verileri işleyen gerçek ve tüzel kişilerin Veri Sorumluları Siciline (“Sicil”) kayıt olması gereken tarihler Kişisel Verileri Koruma Kurulunca (“Kurul”) ilan edilmiştir. Kanunun 16’ncı maddesine göre, kişisel verileri işleyen gerçek ve tüzel kişilerin kişisel veri işlemeye başlamadan önce Sicile kaydolmaları gerekmektedir. Bu kapsamda, Türkiye’de…