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…

202103.12
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BRSA Authorized to Block Access

  The Law No.  6361 on Financial Leasing, Factoring and Financing Companies (“Law No.6361”) has been amended with the Official Gazette No.31416 dated 7 March 2021. According to these amendments, Banking Regulatory and Supervisory Authority (“BRSA”) has been authorized to render content removal/ access blocking decisions for individuals and companies that do not attain a…

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…