Through Articles 4, 33 and 34 of Law No. 7524 on the Amendment of Tax Laws and Certain Laws and Decree-Law No. 375 ("Law No. 7524"), by adding subparagraphs to Article 94 of the Income Tax Law No. 193 and Articles 15 and 30 of the Corporate Tax Law No. 5520, payments made by intermediary...

As is well known, the action for annulment of objection is a special type of lawsuit regulated under Article 67 of the Turkish Execution and Bankruptcy Law No. 2004 (“EBL”). The primary objective of this action is to nullify a debtor’s objection to execution proceedings. Despite its procedural function of facilitating...

On 16 December 2024, the London Court of International Arbitration (“LCIA”) released its third batch of challenge decisions covering the period from 22 July 2017 to 31 December 2022. The LCIA has also issued a detailed commentary that identifies key legal themes and analytical trends, offering practitioners...

Capital increase in privately held joint stock companies is an important transaction that allows the company to grow and meet its financing needs by strengthening its equity structure. A capital increase means an increase in the amount of the company's ordinary/registered capital and is realized with the...

We are proud to announce the completion of the merger between Moka Ödeme ve Elektronik Para Kuruluşu A.Ş. and Birleşik Ödeme Hizmetleri ve Elektronik Para A.Ş., carried out in accordance with Corporate Tax Code No. 5520 and Turkish Commercial Code No. 6102...

Legal 500 has published the results of its Europe, Middle East and Africa 2025 (Legal 500 EMEA 2025), in which it ranks law firms according to different areas based on client feedback and market research. This year, Erdem & Erdem was ranked in the Top Tier in "Dispute Resolution" and among the Leading Law Firms...

We are pleased to present the February 2025 issue of our e-magazine, Exlibris, where we closely follow current developments across various fields of law. In addition to the latest legal developments in the national arena in February, this issue provides access to our 2024 Q4 Personal Data Protection Bulletin...

On 07.03.2025, the Advertising Board (the Board) published the Press Bulletin (the Bulletin) on the Advertising Board Meeting No. 354 dated 13.02.2025. The Bulletin included the advertisements, promotions and commercial practices that the Board examined within the framework of the Law on Consumer Protection...

Chambers & Partners, one of the leading international legal directories which provides rankings of law firms based on client feedback and market research, published their Europe 2025 results...

With various communiqués published in the Official Gazette dated 13.03.2025 and numbered 32840, important regulations were made regarding crypto asset service providers. The regulations introduced by the Communiqué on the Establishment and Operating Principles of Crypto Asset Service Providers...

The Cyber Security Law Numbered 7545 (the Law) was adopted by the Turkish Grand National Assembly (TBMM) on March 12, 2025. The Law establishes a comprehensive legal framework to strengthen Turkiye’s cyber security and detect and eliminate threats...

The Presidential Decision Amending Decision No. 32 on the Protection of the Value of the Turkish Currency (Amendment) was announced in the Official Gazette dated 15.03.2025 and numbered 32842...

Ecem Süsoy Uygun, Managing Associate at Erdem & Erdem, and Doğukan Kalınoğlu from the University of Zurich delivered a presentation titled "Sustainability Agreements and the Exemption Regime in Comparative Competition Law" on Thursday, March 6, at the Moot Courtroom of Istanbul Bilgi University’s Santral...

The Regulation Amending the Regulation on Electronic Commerce Intermediary Service Providers and Electronic Commerce Service Providers (Regulation Amendment) was published in the Official Gazette dated 08.03.2025 and numbered 32835. The Regulation Amendment amends specific provisions of...

The Communiqué No. 2025-32/72 on Amendments to the Communiqué No. 2008-32/34 Regarding the Protection of the Value of the Turkish Currency (Amending Communiqué) was published in the Official Gazette dated 06.03.2025 and numbered 32833...

On 06.03.2025, the Turkish Competition Authority (Authority) published the Impact Analysis Report (Report) 2023-2024. The Report analyzes the impact of the Competition Board’s (Board) decisions regarding cartels, resale price maintenance, abuse of dominant position, and conditional merger/acquisition...

With the announcement (Announcement) published by the Republic of Turkey Ministry of Trade, the monetary thresholds under Law No. 6563 on the Regulation of Electronic Commerce (E-Commerce Law) have been increased...

The Guide on Processing Special Categories of Personal Data (Guide), prepared by the Personal Data Protection Authority (Authority), was published on February 26, 2025...

Article 408, paragraph 2, subparagraph (f) of the Turkish Commercial Code No. 6102 ("TCC") lists the "wholesale of a significant amount of company assets" among the unassignable and exclusive duties and powers of the general assembly. However, this provision does not clearly regulate what is meant by the...

As a general rule, under Article 80 of the Repetitive Income Tax Law No. 193 ("ITL"), capital gains derived from the disposal of securities, except for exemptions, are subject to income tax as capital appreciation gains...

Lease agreements are among the contracts that grant tenants the right to use immovable property for a certain period in exchange for payment and impose significant obligations on the parties. Under Article 310 of the Turkish Code of Obligations (“TCO”), if the ownership of an immovable property changes, the...

To ensure economic stability in Turkiye and preservere the value of the Turkish Lira, an amendment was introduced to Decree No. 32 on the Protection of the Value of the Turkish Currency through Presidential Decree No. 85, published in the Official Gazette No. 30534, dated September 13, 2018. This regulation...

The Climate Law Proposal ("Law Proposal") was submitted to the Grand National Assembly of Turkey on February 20, 2025. Climate law is part of the primary legislation and policy documents being prepared to enhance Turkiye's climate actions, to complete them as soon as possible. This development is an...

The Communiqué on Keeping Commercial Books Not Related to the Accounting of the Business in Electronic Form (Communiqué) was published in the Official Gazette dated 14.02.2025 and numbered 32813. The Communiqué will enter into force on 01.07.2025...

Our client, CoreX Resources B.V. (CoreX), successfully completed the process of acquiring the majority shares of Compagnie Minière Du Bafing SA (CMB), a company established in Côte d'Ivoire, by the end of 2024...

Authors: Sevgi Ünsal Özden, Gülnur Çakmak Ergene, İpek Ertem

Neapco Turkey Otomotiv Anonim Şirketi (Neapco) has successfully completed the share acquisition process to obtain full ownership of Hedrive Otomotiv Teknoloji Sistemleri Sanayi ve Ticaret Limited Şirketi, a company operating in Türkiye. The closing transaction and share transfer under the agreement were finalized on January 16, 2025...

The Banking Regulation and Supervision Agency's (the BRSA) Decision (Decision) dated 06.02.2025 and numbered 11145 was published. With the Decision, BRSA Decisions dated 24.06.2022 and numbered 10250, dated 07.07.2022 and numbered 10265, dated 28.09.2022 numbered 10348, dated 21.10.2022...

On 20.02.2025, the Climate Law Proposal (Law Proposal) was submitted to the Presidency of the Grand National Assembly of Türkiye. The Law Proposal envisages various regulations in terms of combating climate change. The main ones are summarized below...

We are pleased to present to you the January 2025 issue of Exlibris, featuring in-depth analyses of the most current legal topics. In addition to the articles authored by our lawyers and the latest legal developments at the national level in January, this issue provides access to our special report on the provisions on...

We are proud to announce that Prof. Dr. Ercüment Erdem, Founder & Senior Partner of Erdem & Erdem, has been appointed as a judge of the European Nuclear Energy Tribunal (ENET).

The Turkish Competition Authority (Authority) published the Guidelines on Fines to be Applied in Cases of Agreements, Concerted Practices and Decisions Restricting Competition and Abuse of Dominant Position (Guidelines) on 19.02.2025...

Chambers & Partners, which evaluates law firms on a global scale based on comprehensive market research and client feedback, has published the results of the Global Guide 2025...

As Erdem & Erdem, we hosted a workshop titled "Termination of Agency Agreements and Key Considerations in Compensation Claims" on Friday, February 7, 2024, at our Istanbul office...

The Communiqué on Redetermination of Minimum Equity Amounts of Payment and Electronic Money Institutions (Communiqué) is published in the Official Gazette dated 30.01.2025 and numbered 32798. The Communiqué enters into force on 30.06.2025 and amends the minimum equity amounts stipulated...

The 13th ICC MENA International Arbitration Conference, which explored the latest trends, developments, and strategies in arbitration and their implications for the MENA region, was held in Abu Dhabi on February 10-11, 2025...

The Regulation on Pilotage and Towage Services (Regulation), which introduces significant changes regarding the provision of pilotage and towage services in Turkey's maritime jurisdiction areas, was published in the Official Gazette dated February 11, 2025 and numbered 32810. This Regulation repeals the previous regulation of the same name, published in the Official Gazette dated January 8, 2020 and numbered 31002...

On 06.02.2025, the Advertising Board (Board) 2024 Annual Report (Report) was published. The significant issues in the Report are summarized below:The Report covers prominent issues in the Board’s decisions, the Board’s activities in 2024 and the Board’s data for 2024...

On 06.02.2025, the Advertising Board (Board) 2024 Annual Report (Report) was published. The Report discusses the Board’s approach and activities regarding advertisements containing deceptive or unsubstantiated environmental claims in a separate section. In this context, the significant issues highlighted in the...

The Personal Data Protection Authority (the Authority) has published a public announcement regarding the rules to be followed in terms of content and format for standard contracts, which are...

Under the European Union Artificial Intelligence Act (AI Act or the Act), Chapters I and II, covering general provisions and prohibited AI practices, entered into force on February 2, 2025. These sections establish prohibitions on AI systems that pose an unacceptable level of risk and threaten human safety...

Erdem & Erdem Managing Associate Ecem Süsoy Uygun gave training on “Data Law, Greenwashing and Ethics in the Energy Sector” on Sunday, February 2, 2025, as part of the Energy Law Certificate Program organized by Yıldız Technical University and Istanbul Institute.

Authors: Canan Doksat, Beyza Günsel Sürücü, Sena Coşkun, İpek Ertem, Melis Ünlü

A new legislative package, the Listing Act, was adopted by the European Council on October 8, 2024 to make capital markets within the European Union (“EU”) more attractive and facilitate companies' IPO process. The Listing Act amends the EU Prospectus Regulation, the EU Market Abuse Regulation, the Markets...

In recent years, digital assets have become a prominent component of the global economy, driven by the acceptance of digital currencies as a valid payment method in more and more places. However, the increasing use of digital currency also heightened the risk of such currencies being used for ill-minded...

Despite the emphasis on “small-scale generation” regarding unlicensed (license-exempt) electricity generation plants in the Regulation on Unlicensed Generation in the Electricity Market (“Unlicensed Regulation”) , especially in the last three years, quite a few unlicensed electricity generation plants have...

The European Data Protection Board (“EDPB”) issued Opinion 28/2024 addressing key data protection concerns related to the processing of personal data in the context of artificial intelligence (“AI”) models. This Opinion was prepared in response to the Irish Supervisory Authority’s request under Article 64(2) GDPR...

The Regulation on Fines to Apply in Cases of Agreements, Concerted Practices and Decisions Restricting Competition, and Abuse of Dominant Position (“Former Regulation on Fines”), which entered into force upon its publication in the Official Gazette dated February 15, 2009 and numbered 27142, was...

Although the Turkish Personal Data Protection Law No. 6698 (KVKK) stipulates certain rules on cross-border personal data transfer, the effective functioning of the transfer rules was limited over time due to some difficulties in practice. In particular, until late 2024, the application process for permission to transfer...

The Resolution of the President dated 21.12.2024 and numbered 9272 on the Approval of the Annexed Letters dated 25/10/2024 and 12/11/2024 Exchanged between the Government of the Republic of Türkiye and the European Commission on the Amendment to the Financing Agreement for IPARD III Assistance...

Authors: Özgür Kocabaşoğlu, Sevim Özkan

TerraLex, a leading global network of law firms, has launched the Cross-Border Food & Beverage Guide—an invaluable resource for businesses navigating the complex regulatory and operational frameworks in various jurisdictions worldwide.

In the Official Gazette dated 21.01.2025 and numbered 32789 (Official Gazette), regulations that envisage many amendments to various regulations in the electricity market were published and entered into force...

The Regulation on Sustainability Audit (Regulation) has entered into force after being published in the Official Gazette dated 17.01.2025 and numbered 32785. The Regulation regulates the procedures and principles regarding the sustainability audit to be conducted within the framework of the Turkish Commercial...

As Erdem & Erdem, we came together at our Annual Evaluation Meeting on Saturday, January 18, 2025, to reflect on 2024 and discuss our goals for 2025. During the ceremony where plaques were presented to our esteemed colleagues who have completed 5, 10, and 15 years with our firm, heartfelt moments were shared. Our team members...

The Board Decision (Amending Decision) dated 16.12.2024 and numbered 01/28294 of the Public Oversight, Accounting and Auditing Standards Authority regarding the amendment of the scope of application of the Turkish Sustainability Reporting Standards (TSRS) is published in the Official Gazette dated...

Law Amending the Social Security and General Health Insurance Law and Certain Laws (Law) is published in the Official Gazette dated 15.01.2025 and numbered 32783. The Law adds Additional Article 19 to the Foundation Law on Health Services dated 07.05.1987 and numbered 3359, which regulates the...

Articles 6 and 7 of the Occupational Health and Safety Law No. 6331 (Law) will enter into force 31.12.2024, for public institutions and workplaces with fewer than 50 employees and classified as low-risk...

We are pleased to present to you the December issue of our Exlibris magazine. In addition to the articles authored by our lawyers and recent legal developments at the national level, this issue provides access to our Checklist for the Guidelines on Competition Violations in Labor Markets and the 2024 Tax...

The Personal Data Protection Authority (Authority) has published the Public Announcement on the Fulfillment of the Obligation of Information within the Scope of Mediation Activities (Announcement)...

The Banking Sector Best Practices Guide on Personal Data Protection (Guide), prepared in collaboration with the Personal Data Protection Authority (Authority) and the Banks Association of Turkey, has been updated. The Guide has been aligned with the amendments made to the Code of Criminal Procedure...

Our Competition and Compliance team has prepared a checklist in line with the recently published The Guidelines on Competition Violations in Labor Markets by the Turkish Competition Authority. The checklist aims to help companies review their non-poaching agreements, wage fixing arrangements, information exchange practices and non-competition clauses in line with the Guidelines...

Borsa Istanbul A.Ş. (Borsa İstanbul) amended the Listing Directive on 31.12.2024. With the amendments made on 31.12.2024, the minimum market values of shares offered to the public, traded on the BIST Stars, BIST Main, and BIST SubMarket are as follows...

The Capital Markets Board Decision (Decision) dated 26.12.2024 and numbered 66/2058 is published in the Capital Markets Board Bulletin dated 31.12.2024 and numbered 2024/60. With the Decision, the amounts subject to revaluation in the Capital Markets Law No. 6362 and other regulations issued based on...

The Personal Data Protection Authority (Authority) published the Guide on Cross-Border Transfer of Personal Data (Guide) prepared by the Authority, on 2 January 2025. The Guide details the implementation principles and procedural requirements introduced by the comprehensive amendments to Article 9 of...

We are pleased to announce that Melissa Balıkçı Sezen, who has been working as a Senior Associate in our Corporate Affairs Department, has been appointed as Managing Associate as of January 1, 2025...

In the rapidly digitalizing world, e-commerce is spreading rapidly, strengthening the impact of sales made via the Internet and traditional channels. According to the Ministry of Trade data for 2023, Türkiye's e-commerce volume increased by 115.15% compared to the previous year, reaching 1.85 trillion Turkish liras...

In the past years, the Turkish Competition Board (“Board”) has closely monitored the activities of undertakings operating in the retail sector. As a result of the Board’s record of administrative fines, horizontal type of violations in the retail sector have been highly publicized. Vertical violations such as resale price...

Crypto assets have become a significant component of financial markets in recent years, prompting the development of a regulatory framework in response to growing investor interest. In this context, both the amendments to Capital Markets Law No. 6362 (“CML”) and various resolutions issued by the Capital...

With its decision dated 22.05.2024 and numbered 2022/31465 E. (“Decision”) published in the Official Gazette dated 22.10.2024 and numbered 32700, the Constitutional Court examined the claim that the decision to deem the case as not filed due to the failure to complete the addresses and identification numbers...

In recent years, numerous automobile manufacturers have announced their goals to reduce carbon emissions, with many brands setting net-zero carbon targets spanning from production processes to the lifecycle of their vehicles. While ongoing debates persist regarding the significantly higher carbon footprint of...

In an extraordinary dissolution, ex officio cancellation from the trade registry without liquidation is regulated under the provisional Article 7 of the Turkish Commercial Code No. 6102 (“TCC”). Under Paragraph 15 of the relevant provision, the creditors of the company or cooperative, which was ex officio canceled...

The Resolution of the President dated 26.11.2024 and numbered 9144 on the Approval of the Implementing Protocol on Cooperation between the Government of the Republic of Türkiye and the Government of the Turkish Republic of Northern Cyprus on Product Safety Inspection of Products Imported...

Significant legislative amendments to the anti-money laundering and combating the financing of terrorism regulations were introduced and published in the Official Gazette dated 25.12.2024 and numbered 32763 (Legislative Amendments)...

The Regulation on Fines to Apply in Cases of Agreements, Concerted Practices and Decisions Limiting Competition, and Abuse of Dominant Position (Regulation on Fines) entered into force upon publication in the Official Gazette dated 27.12.2024 and numbered 32765. Through the Regulation on Fines...

The Personal Data Protection Authority (Authority) has published the Information Note (Information Note) on the Application of Misdemeanors in Terms of Time Under the Amendments to the Personal Data Protection Law No. 6698 (KVKK) dated 2 March 2024...

Through the Communiqué on the Amendment Regarding the Communiqué on the Procedures and Principles Regarding the Application of Article 376 of the Turkish Commercial Code No. 6102 (Communiqué) published in the Official Gazette dated December 25th, 2024 and No. 32763, essential amendments are...

Through Presidential Decrees No. 9286 and 9284, published in the Official Gazette on December 22, 2024, and No. 32760, (i) an increase in the withholding tax rate applied to dividend distribution has been introduced, and (ii) the withholding tax rate for those selling goods and services through e-commerce has been determined...

The "In-Service Training Seminar on Competition Law" was held online on December 21-22, 2024, under the organization of the Istanbul Bar Association’s Consumer Rights and Competition Law Center...

We are pleased to present to you the November issue of our Exlibris magazine. In addition to the articles we have written across various fields of law, this issue also provides access to the latest legal developments at the national level from November...

The "Evaluation Panel on the Guide to Competition Violations in Labor Markets," organized by the Competition Authority and Galatasaray University, took place on Wednesday, December 18, 2024, at the Galatasaray University Aydın Doğan Auditorium...

New ventures and, in this context, start-up companies have been essential players in economic life for a long time. Significantly in terms of new technologies and creative ideas, instead of established and large structures, new ventures and structures where individuals' personal contributions matter more greatly...

The aggregation activity was included, at a high level, in the Electricity Market Law numbered 6446 (EML) on 22.12.2022 and was articulated as an electricity market activity. The fourth paragraph of Article 12/A of the EML, stated that the procedures and principles regarding the aggregation activity were to be...

Global Competition Review (GCR), which provides important news and analyses for competition law practitioners worldwide, has published the GCR 100 2025, which includes the world's best competition law firms, determined as a result of extensive research...

The European Union Cyber Resilience Act (the CRA), which significantly changes cybersecurity requirements for products with digital components, entered into force on December 10, 2024. This regulation aims to enhance the security of digital products and introduces new obligations for manufacturers, distributors, and importers...

Erdem & Erdem partner, Tuna Çolgar, met with students from Istanbul Bilgi University on Wednesday, 11 December, as part of the "Istanbul Bilgi University 23rd Career Days in Law" event organized by the Bilgi University Law Club...

Capital Markets Board's (CMB) Decision dated 05.12.2024 and numbered 62/1863 (Decision No. 62/1863) was published in its Bulletin dated 05.12.2024 and numbered 2024/55...

As part of a series of concurrent projects and studies conducted by the Ministry of Trade to evaluate the impact of European Union (EU) digital regulations on Türkiye’s trade and investment relations, a workshop was held in collaboration with the World Bank on December 2-3, 2024, at the Ankara Hilton SA Hotel...

On 03.12.2024, the Competition Authority (Authority) published the Guidelines on Competition Violations in Labor Markets (Guidelines). The significant aspects of the Guidelines are...

Under Article 15 of Law No. 4054 on the Protection of Competition (“Law No. 4054”), the Competition Board (“Board”) may conduct on-site inspections at the undertakings’ premises when it deems necessary in fulfilling the duties assigned to it. During the on-site inspection, the Board is authorized to examine all...

Article 2 of Law No. 7524 on the Amendment of Tax Laws and Certain Laws and Decree-Law No. 375 ("Law No. 7524") and the income tax exemption for the benefits provided to employees by issuing share certificates, which is regulated under Article 17 of Income Tax Law No. 193 ("ITL"), entered into force as of...

The International Chamber of Commerce (“ICC”) has published its report on the dispute resolution statistics for 2023 (“Report”) , shedding light on the evolving landscape of international arbitration...

Agreements and information exchanges between undertakings in labor markets have recently been examined in various preliminary investigations and investigations initiated by the Turkish Competition Authority (“Authority”). Following the investigations in which some undertakings were subject to...

Execution and Bankruptcy Law No. 2004 ("EBL"), which came into force upon its publication in the Official Gazette dated June 19, 1932, has undergone numerous amendments. Among these, one of the most significant is undoubtedly Law No. 7101, titled "Law on Amendments to the Enforcement and...

Determining the applicable law in employment contracts and disputes arising from these contracts requires a balance between the principle of protection of the employee and the parties’ autonomy based on the choice of law...

The Resolution of the President dated 01.11.2024 and numbered 9076 on the Approval of the Host Country Agreement between the Government of the Republic of Türkiye and the Turkish Investment Fund, was published in the Official Gazette No. 32710 on 02.11.2024...

The 53rd panel of the "Arbitration School" series, organized by the Department of Private International Law at the Faculty of Law, Marmara University, and the Istanbul Arbitration Center (ISTAC), marked the beginning of the seventh year of the series with online panels. The panel took place on November 27, 2024...

The International Chamber of Commerce (ICC) organized a workshop on ICC Model Contracts, held online via Zoom On 26 November 2024, Tuesday. Prof. Dr. H. Ercüment Erdem, Founder and Senior Partner of Erdem & Erdem and Chair of the ICC Commission on Commercial Law and Practice delivered...

We are pleased to present to you the October issue of our Exlibris magazine. In this issue, in addition to the articles we have written on various areas of law, you can find updates on national legal developments from October...

Last week, TerraLex introduced the nine-member NextGen Advisory Committee, comprising forward-thinking lawyers from its global member firms to advise its Board of Directors on innovative strategies and initiatives for the organization’s long-term success. As Erdem & Erdem we are delighted to announce that...

On 08.11.2024, the Personal Data Protection Authority published an Information Note on Chatbots (Example: Chatgpt) (Information Note). According to the Information Note, a chatbot is software that attempts to simulate human conversation with the end-user through an interface, performing tasks and instructions...

Authors: Sevgi Ünsal Özden, Gülnur Çakmak Ergene, İpek Ertem

Law No. 7529 on the Amendment to the Consumer Protection Law and Certain Laws (Law No. 7529) is published in the Official Gazette dated 30.10.2024 and numbered 32707...

The Regulation on Market Surveillance and Inspection of Products Offered to the Market through Remote Communication Tools (Regulation) is published in the Official Gazette dated 30.10.2024 and numbered 32707. The Regulation sets out the conditions for offering products to the market, including the rules for...

The Turkish Competition Board’s (Board) decision regarding the acquisition of the international road transport business line of Ekol Lojistik AŞ (Ekol) by DFDS A/S (DFDS) has been one of the most prominent transactions on the competition law agenda recently...

Failure to ensure financial stability in sports clubs may result in sporting failure and loss of confidence at the international level. While the Law No. 7405 on Sports Clubs and Sports Federations (“Law No. 7405”), which was enacted to solve these problems in Turkey, is a reform in sports governance, the...

In the legal proceedings initiated by Lassana Diarra, who played football for several top clubs such as Chelsea, Real Madrid, and Arsenal, the European Court of Justice (“ECJ” or “The Court”) issued a landmark ruling (“the Decision”) on October 4, 2024...

As technology advances, artificial intelligence (“AI”) is steadily making its way into dispute resolution, promising enhanced efficiency. Practitioners are carefully weighing its capabilities against its limitations...

The Resolution of the President dated 03.10.2024 and numbered 8993 on the Approval of the Board of Governors’ Resolutions No. 259 and 260 on the Amendment to the Annexed Agreement on the Establishment of the European Bank for Reconstruction and Development, Approved by Law No. 7526 dated...

As Erdem & Erdem, we hosted the sixth session of the ISTAC Arbitration Rules Training series on Thursday, October 31, 2024. During the session titled "Multi-Party Arbitration and Consolidation of Cases," our Managing Associate, Duygu Öner Ayçiçek, and Senior Associate, Melissa Balıkçı Sezen, presented a...

IFLR1000, which conducts detailed analysis based on qualitative research, deal data and client feedback, has announced the IFLR1000 2024  ranking results for firms and lawyers covering Central and Eastern Europe...

By Article 9 of the Law No. 6698 on the Protection of Personal Data (the "Law"), titled "Transfer of Personal Data Abroad," significant amendments have been made by the Law on Amendments to the Criminal Procedure Code No. 7499 and Certain Other Laws. Within the scope of these amendments, "standard...

We are pleased to present to you the September issue of our Exlibris magazine. In this issue, in addition to the articles we have written on various areas of law, you can find updates on national legal developments from September...

The Regulation on Fluorinated Greenhouse Gases (Regulation) was published in the Official Gazette dated 15.10.2024 and numbered 32693. The Regulation on Fluorinated Greenhouse Gases published in the Official Gazette dated 29.06.2022 and numbered 31881 was repealed. The Regulation was prepared...

The Regulation on the Audit of Sports Clubs, Sports Joint Stock Companies, and Superior Organizations (Regulation) entered into force through publication in the Official Gazette dated 12.10.2024 and numbered 32690. The Regulation sets out the procedures and principles regarding the audit of sports clubs, sports...

Erdem & Erdem Managing Associate Ecem Süsoy Uygun gave training on “Data Law, Greenwashing and Ethics in the Energy Sector” on Saturday, October 12, 2024, as part of the Energy Law Certificate Program organized by Yıldız Technical University and Istanbul Institute...

The 2024 3rd Quarter presentations were held as part of the training programs that Erdem & Erdem Academy organized throughout the year in a variety of legal subjects...

The Council of Europe Framework Convention on Artificial Intelligence, Human Rights, Democracy, and the Rule of Law (CETS No. 225) (Framework Convention) was opened for signature at a conference of Council of Europe Ministers of Justice in Vilnius, Lithuania...

The “Prof. Dr. Seza Reisoğlu Memorial Meeting and Legal Conference” organized by the Banks Association of Türkiye was held on Thursday, October 3, 2024 between 13:30 - 17:00 at Türkiye İş Bankası, İş Kule Grand Hall.

Istanbul Arbitration Week 2024 organised by the Energy Disputes Arbitration Center (EDAC), took place at the Mandarin Oriental Bosphorus from 30 September to 4 October 2024. Many organisations and arbitration practitioners participated in this year's event worldwide.

The Capital Markets Board (CMB) amended the Communiqué on Principles Regarding Venture Capital Investment Funds (II-52.4) (VCIF Communiqué) through the “Communiqué Amending the Communiqué on Principles Regarding Venture Capital Investment Funds (III-52.4)” (III-52.4.c) which was published in the...

Syndicated loans undoubtedly hold a significant position among global financing models. In 2023 alone, 3,655 syndicated loans were provided to companies in the US, with their total value reaching USD 2.4 trillion...

Preliminary attachment refers to the temporary seizure of a debtor's assets to secure a creditor's claim. While it serves as a vital instrument for safeguarding the rights of creditors, it is subject to specific and stringent conditions under Turkish law to prevent any potential misuse...

The Framework Convention on Artificial Intelligence (Convention) is an international treaty proposed by the Council of Europe that was recently opened for signature . This is the first legally binding international framework regulating the entire lifecycle of Artificial Intelligence (AI) systems. The Convention ensures...

As the global business landscape evolves, foreign companies increasingly seek to expand their presence in promising markets. Türkiye, positioned between Europe and Asia, offers suitable opportunities for this expansion. Among the methods foreign companies use to establish a foothold but not a company in...

Freedom of expression is a fundamental right that guarantees individuals the right to express their thoughts and criticisms. However, this right is often questioned within the framework of challenges encountered in business life and ethical norms. In a case brought before the Constitutional Court, the limits of...

The website is one of the most important tools that reinforces the transparent management approach of companies and enables company stakeholders such as shareholders, company creditors, and those who carry out activities with the company to access important information about the company quickly and...

As Erdem & Erdem, we organized a workshop titled “What should be on the ESG Agenda of Turkish Companies and Managers?” on Monday, September 23, 2024, at our Istanbul office. In the workshop, which started with the opening speech of our Founder and Managing Partner Piraye Erdem, we discussed the...

The Capital Markets Board of Turkey (CMB) has issued Decision No. i-SPK.128.23 (dated 19/09/2024 and numbered 1508) (Decision No. 128.23) with the Capital Markets Board Bulletin published on 19.09.2024...

The Capital Markets Board (CMB) published the Decision No. i-SPK.35.B.1 (dated 19/09/2024 and numbered 1484) (Decision) with the Capital Markets Board Bulletin published on 19.09.2024...

We are pleased to present to you the August issue of our Exlibris magazine. In this issue, in addition to the articles we have written on various areas of law, you can also find updates on national legal developments from August and the implementation timeline of the European Union Artificial Intelligence Act, which came...

On 16.09.2024, the Competition Authority (Authority) published the Draft Guidelines on Competition Violations in Labor Markets (Draft Guidelines) and submitted it for public comment...

On 27.06.2017, the European Commission (Commission) imposed a fine of €2.4 billion on Google for abusing its dominant position in online search markets by favoring its own comparison shopping service...

We are proud to announce that Erdem & Erdem has contributed to the first-of-its-kind Competition Law Dictionary, published by Concurrences. This comprehensive and innovative glossary, edited by renowned academics such as Deborah Healey, Richard Whish, Bill Kovacic, and Pablo Trevisan, is a...

The Competition Authority (Authority) has prepared five-year strategic plans since 2014. The Authority’s strategic plan for the period of 2024-2028 (Strategic Plan) has been published on 29.08.2024...

The "Brussels Effect" refers to the phenomenon where European Union (“EU”) regulations influence or set standards globally. Since the EU is a significant market, global companies often find it practical and economically beneficial to adopt EU standards across all their operations rather than comply with multiple...

Under the principle of “procedure precedes substance” prevailing in Turkish law, the correct determination of the period for filing a lawsuit is crucial. In its decision dated 02.05.2024 numbered 2020/13187 E. and 02.05.2024 K. (“Decision”), the Constitutional Court examined the claim that the right of access...

The concept of employer’s representative in labour law defines the persons to whom the employer delegates the management and administration authority of the workplace and the enterprise to a certain extent. Although their employment under these names does not directly result in the employment of an...

The Competition Board (“Board”) has broad powers to request information from undertakings. The Board’s authority to request information arises from Article 14 of the Law No. 4054 on the Protection of Competition (“Law No. 4054”). Under the relevant provision, the Board may request any information it deems...

In joint stock companies, the body in charge of managing and representing the company is the board of directors. The members of the board of directors are liable to the company for the damages caused by their negligence in the performance of their duties...

The European Union Artificial Intelligence Act entered into force on 1 August 2024. Companies that fall within the scope of the Act should already be aware of a number of provisions that vary according to the risk-based categorisation of artificial intelligence systems and have different implementation dates, make a risk...

On 26.08.2024, the Personal Data Protection Authority published a Public Announcement on “Personal Data Processing Activities of Research Companies Using ‘Random Number Dialing and Telephone Interview Method’ for Statistical Research”...

Law No. 7518 on the Amendment to the Capital Markets Law (Crypto Assets Law) added Article 35/B titled “Provisions regarding crypto asset service providers and crypto assets” to the Capital Markets Law No. 6362 (CML) and authorized the Capital Markets Board (Board) to determine the principles and procedures...

The annual report (Report) regarding the activities of the Turkish Competition Authority (Authority) for the year 2023 was published on the official website of the Authority. The Report examines the main elements of the Authority’s activities, strategic objectives, its mission and vision, its role in the national economy...

We are pleased to present to you the July issue of our Exlibris magazine. In this issue, you will find articles written across various areas of law, as well as updates on current legal developments on a national level that took place in July. Additionally, through this issue, you can access our Competition Law Bulletin...

Under its Decision numbered 18/470 and dated 28.03.2024, the Capital Markets Board (CMB) announced that the applications of issuers, institutions, and organizations within the scope of the Central Registry System (MERSIS), which fall under the jurisdiction of the CMB's Corporate Finance Department...

Authors: Sevgi Ünsal Özden, Gülnur Çakmak Ergene, Orhan Emin Erdem, Elvan Galatalı

Law No. 7524 on Amendments to Tax Laws and Certain Laws and Decree No. 375 (Law No. 7524), which includes significant amendments in tax legislation has been published in the Official Gazette dated 02.08.2024 and No. 32620. The new tax package, which has been long awaited and occupied the tax agenda,...

Law No. 7524 on Amendments to Tax Laws and Certain Laws and Decree No. 375 (Law No. 7524), which includes significant amendments in tax legislation has been published in the Official Gazette dated 02.08.2024 and No. 32620. The new tax package, which has been long awaited and occupied the tax agenda...

The EU Corporate Sustainability Due Diligence Directive (CSDDD) introduces important changes to corporate responsibility across global supply chains. Our guide provides a detailed overview of the directive, including the entities it applies to, key obligations, and important compliance dates...

Doğuş Otomotiv Servis ve Ticaret A.Ş. (Doğuş) applied to the Turkish Competition Authority for an exemption for the practice of recommending basic wages to be applied to sales and after-sales service employees of its authorized dealers and distributors...

Adaptation of the lease agreement cases is among the most frequently encountered legal disputes, especially in the event of economic fluctuations and changes in market conditions. In these cases, it is requested that the rental price be adapted according to the current conditions. Article 138 of the Turkish Code of...

A comprehensive inclusion of renewable resources in the energy mix makes the system less predictable and flexible. To offset this, additional flexibility is expected from the demand side. This flexibility may be attained is through by implementing demand-side awareness and market participation of the...

Sustainability is an important term that we have recently focused on to meet the needs of both present and future generations. This concept, which addresses economic, environmental, and social dimensions, requires extensive responsibilities and gains meaning through comprehensive cooperation...

Access to Instagram was blocked ex officio by the Information and Communication Technologies Authority (ICTA) as of 2.08.2024. Under Article 8 of Law No. 5651 on the Regulation of Publications on the Internet and Combating Crimes Committed Through These Publications, ICTA can issue an ex officio access...

Sales contracts are the most common and most important contracts of commercial life . Determining the rights and obligations of the parties as a result of the defects encountered in the goods subject to the sale is one of the most common legal problems in commercial sales...

The Resolution of the President dated 16.07.2024 and numbered 8729 on the Approval of the Economic and Financial Cooperation Agreement between the Government of the Republic of Türkiye and the Government of the Turkish Republic of Northern Cyprus was published in the Official Gazette dated...

Law No. 7521 on the Amendment of Certain Laws and Statutory Decrees (Law) was published in the Official Gazette dated 26.07.2024 and numbered 32613. With the enactment of the law, amendments have been made to List II attached to the Special Consumption Tax Law, and the Special Consumption Tax rates for...

Communiqué Amending the Communiqué on the Implementation Principles of the Technology-Oriented Industrial Initiative Program (Communiqué) entered into force through publication in the Official Gazette dated 26.07.2024 and numbered 32613...

The Communiqué on the Implementation Principles of the Digital Transformation Support Program (Communiqué) entered into force through publication in the Official Gazette dated 26.07.2024 and numbered 32613...

The Communiqué on the Implementation Procedures and Principles of the Green Transformation Support Program (Communiqué) has entered into force through publication in the Official Gazette dated 26.07.2024 and numbered 32613. The Communiqué sets out the principles and procedures for supporting...

Adopted on 24 April 2024 by the European Parliament, the Corporate Sustainability Due Diligence Directive ( Directive) was published on 5 July 2024 and entered into force on 25 July 2024. The Directive aims to extend the environmental and social obligations of companies to impact global supply chains...

We are pleased to announce that Erdem & Erdem has been shortlisted for the ITR EMEA Tax Awards 2024 in two categories: “Tax Firm of the Year” and “Tax Disputes Firm of the Year” in Türkiye...

The Communiqué (III-52.3.f) Amending the Communiqué (III-52.3) on Principles Regarding Real Estate Investment Funds (Communiqué) entered into force through its publication in the Official Gazette dated 17.07.2024 and numbered 32604. With the Communiqué, real estate investment funds (REIFs) are given the...

We are pleased to present you the June issue of our Exlibris magazine. In this issue, you can find our articles touching on many areas of law and current legal developments in the national arena in June. You can also access our January - June 2024 Start-ups and Venture Investments Sector Report and the ESG...

Mert Karamustafaoğlu, Partner at Erdem & Erdem and Competition and Compliance Leader, made a presentation on "General Principles of Competition Law and Overview of Board Decisions on Labor Markets from the Logistics Sector Framework" at the Competition Law Webinar organized by the Turkish...

The Regulation on the Procedures and Principles Regarding the Transfer of Personal Data Abroad (Regulation) entered into force through publication in the Official Gazette dated 10.07.2024 and numbered 32598. Important regulations are as follows...

As Erdem & Erdem, we have completed the second quarter sessions of 2024 of Erdem & Erdem Academy in-house training programs, which cover a wide range of legal topics. Within the scope of Erdem & Erdem Academy, our associate Melis Uslu made a presentation titled " Condition Subsequent in Mergers...

On June 18, 2024, the European Banking Authority, the European Insurance and Occupational Pensions Authority, and the European Securities and Markets Authority (European Supervisory Authorities) published a joint opinion (Opinion) on the assessment of the Sustainable Finance Disclosure Regulation...

The Law Amending the Capital Markets Law (Crypto Assets Law) entered into force after being published in the Official Gazette dated 02.07.2024. The Crypto Assets Law amended the Capital Markets Law (CML) dated 06.12.2012 and numbered 6362 and included provisions on crypto assets within the scope of...

In today's rapidly changing business world, Environmental, Social and Governance (ESG) principles have become critical components of corporate strategy and operations. As a team specializing in almost every area of law, we understand the far-reaching impact of ESG issues on the legal and regulatory frameworks...

General Safety Regulations (GSR II) are a set of regulations that mandate the inclusion of various safety packages in the standard features of vehicles and aim to increase the level of safety...

The year 2023 was marked as a period in which the global economy grappled with the lingering effects of the pandemic and the deepening consequences of the Russia-Ukraine War. The energy crisis triggered soaring inflation, exacerbating economic challenges, while central banks sought to ensure price stability...

We are proud to announce that Merve Bakırcı, who has been working as a Senior Associate in our Competition and Compliance Department, and Mehveş Erdem Kamiloğlu and Duygu Öner Ayçiçek who have been working as Senior Associates in our Dispute Resolution Department have been appointed...

Crypto assets have created a significant change in the financial system with the emergence of blockchain technology. The decentralized and digital nature of these assets has offered a new method outside of traditional monetary systems...

The Keener decision represents a pivotal moment in interpreting and applying securities laws as it pertains to the definition and regulatory treatment of “dealers” within financial markets.This case arose from actions taken by the Securities and Exchange Commission (“SEC”) against Justin W. Keener, who was accused...

While tax systems introduce general regulations to prevent the abuse of laws, special regulations are introduced as tax security institutions within the scope of tax laws for situations where general regulations do not fulfill the expected function in practice...

Under Article 365 of the Turkish Commercial Code No. 6102 ("TCC"), each member of the board of directors, which is the body responsible for the administration and representation of a joint stock company, is obliged to fulfill their duties arising from the law and the articles of association within the limits...

Open banking involves making data in the financial system accessible to authorized third-party service providers (“TPPs”) through standard Application Programming Interfaces (“APIs”). It enables customers to share their financial data so that financial institutions can develop new technologies and make...

Law No. 7262 dated 27.12.2020 introduced an obligation to notify the Central Registry Agency (“CRA”) regarding the issuance and transfer of bearer shares under the Turkish Commercial Code No. 6102 (“TCC”) and stipulates that those who violate the notification requirement under Art. 486/2 of the TCC shall be...

The Resolution of the President dated 24.05.2024 and numbered 8511 on the Ratification of the Additional Protocol No. 1 to the Free Trade Agreement between the Government of the Republic of Türkiye and the Government of Malaysia was published in the Official Gazette dated 24.05.2024 and numbered 32555...

Global Arbitration Review (GAR) hosted its eleventh annual GAR Live: Istanbul Conference on June 27, 2024, at Çırağan Palace Kempinski.Erdem & Erdem was among the sponsors of this event, which brought together leading arbitration practitioners and experts from across Türkiye to discuss the most current...

As Erdem & Erdem, we are delighted to present the May 2024 issue of Exlibris to our esteemed readers. Once again, we bring you a rich array of content touching upon various fields of law. In this issue, we have written articles focusing on developments in competition law, mergers and acquisitions, administrative...

The Regulation on the Procedures and Principles Regarding Short-Term Working and Short-Term Working Allowance (Regulation) was published in the Official Gazette dated 11.06.2024 and numbered 32573...

The conference on “Improvement of the Investment Environment and Arbitration”, organized in cooperation with Galatasaray University Faculty of Law, Istanbul Arbitration Center and the International Investors Association, was held on Monday, June 10, 2024 at Galatasaray University Aydın Doğan Conference Hall in...

We are pleased to announce the publication of the 3rd Edition of “International Commercial Law” by our Founder and Senior Partner, Prof. Dr. H. Ercüment Erdem, Emeritus Professor at Galatasaray University Faculty of Law, by On İki Levha Publishing...

The Ethics and Reputation Society (TEİD) organized the TEİD Aegean Region Working Group Meeting on Thursday, June 6, 2024, at Akın Passage, hosted by TARKEM Tarihi Kemeraltı İnşaat Yatırım Ticaret A.Ş. The panel, titled "Real Life / Experience Example Sharing," was moderated by Sevgi Ünsal Özden...

The Limited Liability Company Law Symposium, organized by Galatasaray University Faculty of Law and Istanbul Bar Association, took place on Tuesday, June 4 at Galatasaray University Aydın Doğan Auditorium. Our Founder and Senior Partner, Prof. Dr. H. Ercüment Erdem, chaired the fourth session of the...

Personal Data Protection Law numbered 6698 (“PDPL”) was first drafted based on the Directive 95/46/EC of the European Parliament and of the Council on the protection of individuals about the processing of personal data and on the free movement of such data, and entered into force in 2016...

In today's competitive business environment, the protection of trademarks plays a vital role in maintaining the competitive advantage of businesses and ensuring consumer trust. In this context, the protection of well-known trademarks is of particular importance in preserving the commercial value and reputation of...

In administrative cases concerning monetary matters, the right to appeal to ordinary legal remedies against the decisions of administrative and tax courts is subject to the condition that the dispute exceeds a certain monetary limit in the Turkish legal system...

Similar to previous years, in 2024, mergers and acquisitions (“M&A”) transactions continue to be shaped by global economic dynamics, geopolitical risks and technological innovations...

It is well known that agreements between employer undertakings with regards to their employees, such as wage-fixing and non-poaching agreements, along with competitively sensitive information exchanges have been under the scrutiny of competition authorities all over the world, including the Turkish Competition...

The Resolution of the President dated 26.04.2024 and numbered 8407 on the Approval of the Annexed Financing Agreement for the NEXT Mediterranean Basin (NEXT MED) Cooperation Program (Interreg VI-B) signed on behalf of the Republic of Türkiye in Ankara on 13 October 2023 was published in the Official...

Law No. 7511 on Amendments to the Turkish Commercial Code and Certain Laws (Amending Law) was published in the Official Gazette dated 29.05.2024 and numbered 32560. The Amending Law envisages some amendments to the Turkish Commercial Code No. 6102 (TCC)...

Law No. 7511 on Amendments to the Turkish Commercial Code and Certain Laws (Law) was published in the Official Gazette dated 29.05.2024 and numbered 32560. Law amended (Amendment) various articles of the Law No. 4054 on the Protection of Competition (Law No. 4054). The relevant provisions of the Law...

On Wednesday, May 29, 2024, we conducted a workshop titled “The Competition Board's On-Site Inspection and Authority to Request Information” (“Workshop”) in our Istanbul office. During this session, Ecem Süsoy Uygun, Managing Associate, and Merve Bakırcı, Senior Associate of Erdem & Erdem...

Draft Law on Amendments to the Capital Markets Law No. 6362 (Draft Crypto Assets Law) was submitted to the Grand National Assembly of Türkiye. The Draft Crypto Assets Law envisages amendments to the Capital Markets Law dated 6.12.2012 and numbered 6362 (CML). The following additions and...

We are delighted to present the April 2024 issue of Exlibris. As Erdem & Erdem, we continue to provide valuable insights across a wide range of legal topics. This issue features articles from our team and legal updates in the national arena in April. You can also access our Personal Data Protection Bulletin for the First...

The Advertisement Board is an administrative authority established under Law No. 6502 on the Protection of Consumers, which is in charge and authorized to determine the principles to be followed in commercial advertisements and to make regulations to protect consumers against unfair commercial practices...

Onur Baysal, Partner and Capital Markets Leader at Erdem & Erdem, delivered a presentation on “Fund Utilization Report and Its Violation” at the Symposium on Public Offering Processes, Legal and Financial Consequences, organized by the Capital Markets Licensing Registry and Training Agency (SPL) and the...

The Resolution of the President (Resolution) dated 20.05.2024 and numbered 8485 was published in the Official Gazette dated 21.05.2024 and numbered 32552. Under the Resolution, it was decided to implement the legal interest rate...

On 17.05.2024, the Turkish Personal Data Protection Authority (Authority) released the draft documents concerning standard contracts and binding corporate rules, which are stipulated as appropriate safeguards for cross-border transfer under the amendments to the Law No. 6698 on the Protection of Personal Data...

Erdem & Erdem Partner, Competition and Compliance Leader, Mert Karamustafaoğlu made a presentation on "Energy and Competition Law" on Thursday, May 16th at 12:00 within the scope of TAU Career Summit'24 organized by TAU ILSA Law Club and Pro Bono Law Society...

On 09.05.2024, the Turkish Personal Data Protection Authority (Authority) published the Draft Regulation on the Procedures and Principles Regarding the Transfer of Personal Data Abroad (Draft) and opened the Draft for public opinion and assessment. In this context, opinions and suggestions regarding the...

The Regulation Amending the Regulation on Unlicensed Electricity Generation in the Electricity Market (Regulation Amendment) entered into force through publication in the Official Gazette dated 14.05.2024 and numbered 32546. The important issues in the Regulation Amendment are summarized below...

As part of Erdem & Erdem Academy, on Thursday, May 9, 2024, Dr. Cem Veziroğlu, Assistant Professor of Commercial Law at Koç University and Affiliated Scholar at UNESCO Chair for Gender Equality and Sustainable Development, made a presentation titled "Risks and Opportunities Awaiting Companies in the Axis of ESG Regulations and Market Dynamics"...

Erdem & Erdem Managing Associate Ecem Süsoy Uygun gave a training on "Data Law and Ethics in the Energy Sector" on Saturday, May 11, 2024 within the scope of the Energy Law Certificate Program organized by Bahçeşehir University Continuing Education Center and Istanbul Institute...

The Bill on Amendments to the Turkish Commercial Code and Certain Laws (Bill) was submitted to the Presidency of the Grand National Assembly of Türkiye on 03.05.2024. The Bill envisages some amendments to the Turkish Commercial Code No. 6102 (TCC)...

The "Competition Symposium in Labor Markets" organized by the Competition Authority and Boğaziçi University was held on Tuesday, May 7, 2024 at Boğaziçi University Albert Long Hall...

Authors: Sevgi Ünsal Özden, Gülnur Çakmak Ergene, Elvan Galatalı

One of the most important reasons for parties to choose arbitration is the opportunity to freely choose their arbitrators. This freedom granted to the parties also distinguishes arbitration from proceedings before state courts, where the parties are deprived of the power to determine the judges who will conduct the...

Automotive is one of the sectors in which the world’s most significant investments are made. The Competition Board (“Board”) has been closely interested in the automotive sector over the years and has conducted various examinations and studies in this field...

Article 351 of the Turkish Code of Obligations (“TCO”) regulates the new owner’s right to evacuate the immovable property for its needs following the acquisition of the right of ownership. Whether this provision applies to the new owners who were previously joint owners of the immovable property has been the subject...

It is observed that there are changes in the legislation and judicial decisions as to whether the use of a previously registered trademark or a trademark for which a registration application has been filed can be considered as trademark infringement by third parties by using the trademark as a trade name...

The 6th Civil Chamber of the Court of Cassation ruled on October 12, 2022, that national courts have jurisdiction over objections to provisional measures in international arbitration disputes...

Responsible Management Principles (Stewardship Principles, SP) have been regulated by the Capital Markets Board (CMB) regarding the securities investment funds (Funds) founded by Portfolio Management Companies (PMC)...

The Resolution of the President dated 04.04.2024 and numbered 8298 on the Approval of the Agreement on Commercial and Economic Cooperation between the Government of the Republic of Türkiye, the Government of the Republic of Azerbaijan and the Government of Turkmenistan was published in the Official...

Organized by the Istanbul Bar Association Consumer Rights and Competition Law Center, the “Panel on Settlement Mechanism in Competition Law, the Settlement Mechanism and its Practices from the Administrative and Civil Procedure Perspectives” was held on Monday, April 29, 2024 at the Istanbul Bar...

Ecem Süsoy Uygun, Managing Associate, and Nil Zeren Özdemir, Associate from Erdem & Erdem, met with law students on Saturday, April 27 as part of the 6th Career in Law Summit organized by Bilkent University Career in Law Club on April 27-28...

On 18.04.2024, it was announced that a cooperation protocol (Protocol) was signed between the Turkish Personal Data Protection Authority and the Personal Data Protection Board of the Turkish Republic of Northern Cyprus...

We are thrilled to present to you the March edition of Exlibris magazine. As Erdem & Erdem, in this issue, we have discussed the developments in various areas of law and analyzed the legal developments in some sectors...

The Competition Law On-the-Job Training Seminar organized by the Istanbul Bar Association Consumer Rights and Competition Law Center was held online on 20 and 21 April 2024...

Erdem & Erdem hosted an event organized by the Ethics and Reputation Society's (TEİD) Personal Data Protection and Digital Ethics Working Group on Wednesday, April 17, 2024...

"A look behind the curtain - being an arbitrator or tribunal secretary in Turkish and Swiss arbitrations" event within the scope of Istanbul Arbitration Days organized by Young ISTAC and ASA Below 40 was held on Wednesday, April 17, 2024 at TOBB Plaza, Istanbul...

Authors: Didem Adlığ Sönmez, İdil Yıldırım Günaydın, Elvan Galatalı, Doğukan Kalınoğlu

The Resolution of the President dated 05.04.2024 and numbered 8313 on the Amendment to the Resolution on the Determination of Companies Subject to Independent Audit (Resolution) was published in the Official Gazette dated 06.04.2024 and numbered 32512. The amendments made to the Resolution are...

As Erdem & Erdem, we have completed the first quarter sessions of 2024 of Erdem & Erdem Academy in-house training programs, which cover a wide range of legal topics. As part of the Academy curriculum, "E-Commerce Platforms and Personal Data" was the topic of the presentation given by one of our managing...

The announcement (Announcement) under the Capital Markets Board (CMB) Decision No. 18/470 was published in the Capital Markets Board Bulletin dated 28.03.2024 and numbered 2024/17...

Capital Markets Board's (CMB) Resolution numbered i-SPK 128.22 (Resolution) was published in the Capital Markets Board Bulletin dated 28.03.2024 and numbered 2024/17...

Information holds paramount importance in the capital markets. Investors, whether seasoned professionals or newcomers, depend on various sources to guide their decisions amidst the complexities of the capital markets...

Competition authorities around the world continue unabated to investigate competition concerns arising from data collection and processing activities of digital platforms and impose severe sanctions as a result...

The common goal (in the ideal world) of people who become shareholders by participating in the capital of a company or managers by participating in the management body is to manage the company in the best way and to obtain maximum economic benefit...

The declaration of intent to resolve disputes through arbitration is the fundamental constituent element of an arbitration agreement. To speak of a valid arbitration agreement, the parties' intention to arbitrate must emerge in a way that leaves no room for dispute...

In the wake of the evolving dynamics of commercial transactions, the Netherlands Arbitration Institute Foundation (NAI) announced new arbitration rules . 2024 NAI Arbitration Rules are in force as of 1 March 2024 and will be applicable on proceedings filed on or after this date...

The Code of Civil Procedure (“CCP”) regulates the judicial procedure in our jurisprudence and foresees prescription periods at each stage. Prescription periods constitute a form of sanction that causes the loss of the use of the right for the party who does not comply with the time limit...

The Law numbered 7497 on the Approval of the Ratification of the Protocol Amending the “Preferential Trade Agreement” between the Government of the Republic of Türkiye and the Government of the Republic of Azerbaijan entered into force through publication in the Official Gazette dated 01.03.2024 and...

Legal 500 has published the results of its Europe, Middle East and Africa 2024 (Legal 500 EMEA 2024), in which it ranks law firms according to different areas based on client feedback and market research. This year, Erdem & Erdem was ranked in the Top Tier in "Dispute Resolution" and among the Leading Law Firms in...

Erdem & Erdem Partner and Competition and Compliance Leader, Mert Karamustafaoğlu was a guest of 60 Minutes with Zeynep Özyol on BloombergHT on Wednesday, 20.03.2024 at 19.40 to share his comments on the Competition Authority's interim measure decision on META Platforms, Inc. (META) and...

Authors: Melissa Balıkçı Sezen, Tilbe Birengel, Mehveş Erdem Kamiloğlu, Duygu Öner Ayçiçek, Ece Özsü, Ceren Eke

The Communiqué on the Widespread Use of Green Cement with Low Carbon Emissions in Public Procurement Contracts (Communiqué) is published in the Official Gazette dated 16.03.2024 and numbered 32491. The Communiqué will enter into force on 01.01.2025. According to the Communiqué, to encourage...

Exactly one year has elapsed since the publication of Exlibris magazine. During this time, we would like to express our gratitude to our readers for their tremendous interest and support. We are delighted to offer you content covering developments in the legal sector and we are continuing this journey with your invaluable support...

Chambers & Partners, one of the leading international legal directories which provides rankings of law firms based on client feedback and market research, published their Europe 2024 results.

The Law on Amendments to the Code of Criminal Procedure and Certain Acts No. 7499 ("Law"), which includes amendments to the Law on Execution and Bankruptcy No. 2004 and Law on Misdemeanors No. 5326, was published in the Official Gazette dated 12.03.2024 and numbered 32487...

The Law on Amendments to the Code of Criminal Procedure and Certain Acts numbered 7499 (Law), including Amendments to the Law on Personal Data Protection numbered 6698 (LPDP) was published in the Official Gazette dated 12.03.2024 and numbered 32487...

Under the Capital Markets Board Decision dated March 7, 2024, and numbered 14/382, the Capital Markets Board Decision dated December 28, 2023, and numbered 81/1820 (Board Decision) was published in the Capital Markets Board Bulletin dated 07.03.2024 and numbered 2024/14. The Capital Markets Board...

The Alternative Dispute Resolution Methods Career Summit organized by the Mediation and Arbitration in Law Society was held on March 9-10, 2024 at Ankara University Faculty of Law Cemal Bilsel Hall. Erdem & Erdem, Partner, Competition & Compliance Leader, Mert Karamustafaoğlu, made a presentation on...

The Capital Markets Board Decision dated February 29, 2024, and numbered 13/337 (Board Decision) was published in the Capital Markets Board Bulletin dated 29.02.2024 and numbered 2024/13. Under the Board Decision, amendments were made to the sections titled “Fund Types” and “Principles Regarding...

The Communiqué Amending the Communiqué on Principles Regarding Mutual Funds (III-52.1) (III-52.1.E) (Communiqué) entered into force upon publication in the Official Gazette dated 01.03.2024 and numbered 32476. The Communiqué published by the Capital Markets Board focuses on the amendments regarding...

Authors: Alper Uzun, Rüştü Mert Kaşka, Abdullah Bozdaş, Aslı Su Çoruk

The Constitutional Court’s decision dated 18.01.2024 and numbered 2023/12 E., 2024/12 K. (Decision) has been published in the Official Gazette dated 05.03.2024 and numbered 32480. The Constitutional Court decided to annul the provisional Article 31 of the Law on Privatization Applications (Law)...

The most common forms of agency agreements can be categorized under three main headings. These can be listed as an Agency Agreement, Distributorship Agreement, and Franchise Agreement...

It is known that legislative amendments have been made for the acquisition of Turkish citizenship by foreigners within the scope of the Turkish Citizenship Law No. 5901 in order to encourage the sale of residences and workplaces to foreigners...

In the intricate web of finance and law, the US Court of Appeals for the Second Circuit’s ruling of Kirschner v. JP Morgan Chase Bank, N.A. (“Kirschner Ruling”) stands at the confluence of international banking regulations and securities law, presenting a thorough examination of the legal frameworks governing the...

Under the Presidency’s Annual Program contemplating that a national carbon pricing mechanism to be established and an emissions trading system to be implemented in compliance with the EU regulations and Türkiye’s long-term target of achieving net-zero carbon emissions, The Energy Regulatory Market...

With its decision dated 11.10.2023 and numbered 2020/76 E., 2023/172 K. published in the Official Gazette dated 10 January 2024 and numbered 32425 ("Decision"), the Constitutional Court ("Constitutional Court") evaluated the requests for the annulment of certain articles of the Law No. 7253 on the...

The Resolution of the President dated 23.01.2024 and numbered 8123 on the Approval of the Amendment Protocol signed by the Exchange of Letters dated 6/12/2023 and 20/12/2023 between the Government of the Republic of Türkiye and the European Commission on the Amendment to the Financing Agreement...

Chambers & Partners, one of the leading international legal directories which provides rankings of law firms globally based on client feedback and market research, published their Global Guide 2024 results...

The Capital Markets Board Decision dated February 16, 2024 and numbered 11/255 (Board Decision) was published in the Capital Markets Board Bulletin dated 16.02.2024 and numbered 2024/11. Pursuant to the Board Decision, the Principles of Responsible Management (Principles) were added to the Guidelines on...

The interview with our Founder and Senior Partner, Prof. Dr. H. Ercüment Erdem, is now available as part of the "Not Just in a Day" Project. "Not Just in a Day" Project seeks to delve into the life journeys of self-actualized individuals, unraveling their paths to success and resilience amidst challenges...

The 18th ICC Türkiye Arbitration Day, organized with the cooperation of the International Court of Arbitration of the International Chamber of Commerce (ICC), the National Commitee of the ICC Türkiye and the Union of Chambers and Commodity Exchanges of Türkiye (TOBB), was held on Friday, 16 February 2024...

On 16.02.2024, the Justice Committee of the Turkish Grand National Assembly (TBMM) received the bill (Bill) on the long-awaited amendment to the Law on Personal Data Protection No. 6698 (LPDP). It can be said that the Bill, which introduces regulations similar to the European Union General Data Protection...

On Thursday, 15 February, Erdem & Erdem hosted the event on Disclosure Duty of Arbitrators, organised by ICC YAAF as part of the ICC Türkiye Arbitration Day...

Railway Operation Authorization Regulation (Regulation) entered into force through publication in the Official Gazette dated 16.02.2024 and numbered 32462. The Regulation repeals the Railway Operation Authorization Regulation published in the Official Gazette dated 19.08.2016 and numbered 29806...

We are pleased to present the January issue of Exlibris 2024, where we gather once again to provide you, our esteemed readers, with comprehensive content in the field of law. In this issue, alongside articles by our lawyers and updates on current legal developments in the national arena for January, you will also find...

The Energy Litigation Congress organised by the Energy Law Research Institute was held in Ankara on Thursday, 08 February 2024. Erdem & Erdem, Partner, Competition & Compliance Leader and Energy Law Research Institute Board Member Mert Karamustafaoğlu made a presentation titled "Unlicensed Electricity...

On 12.02.2024, the Information Note on Processing of Personal Data on the Legal Ground of Being Stipulated by Laws (Information Note) was published. The Information Note aims to clarify the scope and meaning of the personal data processing legal ground of “being expressly stipulated by law” in Article 5/2(a) of...

Authors: Sevgi Ünsal Özden, Gülnur Çakmak, Defne Pırıldar, Doğukan Kalınoğlu, İlayda Salkım

The announcement (Announcement) made pursuant to the Capital Markets Board Decision dated 08.02.2024 and numbered 9/221 (Board Decision) was published in the Capital Markets Board Bulletin dated 08.02.2024 and numbered 2024/9. The Announcement includes explanations regarding the application...

In recent years, it has been observed that financial statements are insufficient for the evaluation of long-term company performance and investors now require non-financial information as well as financial information when making decisions...

Typically, when an employee departs, their corporate email account remains active and accessible to the employer for a period of time. During this time, the email archive and new incoming messages are forwarded to the employee's manager or another colleague...

In today's world, we now have the opportunity to purchase many products and services through e-commerce platforms with a single click from wherever we are. During these purchases, our personal data are collected and used through the websites or mobile applications of e-commerce platforms for various...

Sustainability-linked derivatives transactions involve the embedding of a cash flow in derivatives that will change in a sustainability-linked way, and institutions' compliance with environmental, social, and governance (ESG) objectives is monitored using specific performance indicators...

Through its decision dated 30 November 2023 and No. E. 2023/105 K. 2023/208 ("Decision"), the Constitutional Court of the Republic of Türkiye ("Constitutional Court") annulled the regulation stating that inflation adjustment will not be made for 2021 as stipulated under Provisional Article 33 of Turkish Tax...

The Resolution of the President dated 27.12.2023 and numbered 7996 on the Approval of the Annexed Financing Agreement for the Annual Action Programme for Türkiye for the Year 2022, Signed on behalf of the Republic of Türkiye on 30 November 2023, together with the accompanying Notes was...

We announced in our previous Legal Alert that the first reporting period for the dates between 01.10.2023 and 31.12.2023 will end on 31.01.2024 within the scope of the European Union Regulation 2023/956 establishing a Carbon Border Adjustment Mechanism (CBAM) which was published in the Official Journal...

The Communiqué (No: 2024/2) Amending the Communiqué on Reserve Requirements (No: 2013/15) (Communiqué) has been published in the Official Gazette dated 30.01.2024 and numbered 32445. The Communiqué entered into force on the date of its publication, effective from 19.01.2024. The amendments made...

The Communiqué (No: 2024/1) Amending the Communiqué (No: 2010/2) on the Printing Method of Checkbooks and Determination of the Amount that Banks are Obliged to Pay to the Bearer (Communiqué) was published in the Official Gazette dated 27.01.2024 and numbered 32442. The Communiqué enters...

The Communiqué on Redetermination of Minimum Equity Amounts for Payment and Electronic Money Institutions (Communiqué) has been published in the Official Gazette dated 27.01.2024 and numbered 32442. The Communiqué enters into force on 30.06.2024 and amends the minimum equity amounts...

Authors: Canan Doksat, Beyza Günsel Sürücü, Tunahan Sefa Aydın

The European Union Regulation 2023/956 establishing a Carbon Border Adjustment Mechanism (CBAM) was published in the Official Journal of the European Union on 17.08.2023 and came into force on 01.10.2023. The CBAM creates obligations for importers resident in the European Union (EU)...

On 24.01.2024, the Personal Data Protection Authority published the Guidelines on the Protection of Personal Data in Election Activities (Guidelines). The Guidelines aim to remind public administrations, political parties, candidates, and voters involved in election activities of their obligations or rights under...

On 19.01.2024, the Personal Data Protection Authority published the Deepfake Information Note (Information Note). The purpose of the Information Note is to provide a better understanding of what Deepfake technology is, which is formed from the words deep learning and fake. The key points in the Information Note...

As Erdem & Erdem, we came together at our annual Evaluation Meeting on Saturday, 20 January 2024, to assess the year 2023 and to discuss our goals for 2024. After the meeting, the plaques given to our valuable colleagues who completed 5, 10 and 20 years of our company witnessed emotional moments...

On 16.01.2024, the Personal Data Protection Authority published Guidelines on the Processing of Republic of Türkiye Identity Numbers (Guidelines). The purpose of the Guidelines are to provide guidance to data controllers by setting out the provisions of the legislation envisaging the processing of Turkish...

We are pleased to present you the December issue of Exlibris, which we focus on current developments in many areas of law. In this issue, we are here with a comprehensive content. In addition to our articles, you can access the Constitutional Court Decisions on Tax Law Legislation for 2023, the EU Artificial...

Through the decision of the Constitutional Court dated 30.11.2023 and No. 2023/105 E., 2023/208 K. (Decision) published in the Official Gazette dated 16 January 2024 and No. 32431, the regulation regarding the deferral of inflation adjustment was annulled for 2021...

Erdem & Erdem Managing Associate Ecem Süsoy Uygun gave a training on "Data Law and Ethics in the Energy Sector" on Saturday, January 13th within the scope of the Energy Law Certificate Program organized by Bahçeşehir University Continuing Education Center and Istanbul Institute...

The Decision of the Personal Data Protection Board Regarding the Exemption of Village Legal Entities from the Registration Obligation in the Data Controllers Registry, dated 14/12/2023 and numbered 2023/2135 (Decision) is published in the Official Gazette dated 12.01.2024 and numbered 32427... 

Law No. 7491 on the Amendment of Certain Laws and Decree Laws (Law No. 7491), which includes significant amendments in tax legislation, was published in the Official Gazette dated 28.12.2023 and No. 32413. The significant tax amendments included in the Law No. 7491 are...

The Capital Markets Board Decision (Decision) dated 28.12.2023 and numbered 81/1811 is published in the Capital Markets Board Bulletin dated 29.12.2023 and numbered 2023/82. With the Decision, the amounts subject to revaluation in the Capital Markets Law No. 6362 and other regulations issued based on...

The Communiqué on the Default Interest Rate to be Applied in Late Payments in the Supply of Goods and Services and the Minimum Expense Amount that may be Requested for the Collection of Receivables (Communiqué) is published in the Official Gazette dated 02.01.2024 and numbered 32417. The Communiqué...

Employee shareholding, which means the ownership of some or all of the capital of a publicly traded or closed company by employees, has attracted great interest in many countries around the world, particularly in the United States of America, due to the advantages it provides to the national economy, the...

There is no specific procedure in the Turkish Commercial Code (TCC) that publicly traded corporations must follow in terms of providing collaterals, pledges, mortgages and sureties (CPMS). Authority for and procedure of provision of CPMS are determined according to the general rules...

The startup ecosystem in Turkey has experienced notable growth in recent years. In the last quarter of 2023, 81 startups secured a combined investment of around 60 million dollars. While the number of investments remained consistent when comparing the third quarter periods of 2022-2023, there was a decrease...

The concept of intervention has fundamental differences in administrative trial procedure compared to civil procedure. These differences are critically important in terms of the intervenor’s right to seek legal remedies in the administrative trial procedure. As is known, there are two ways to become a plaintiff in an...

The independence and impartiality principles of the Civil Chambers of the Turkish Football Federation (“TFF”) constitute one of the pillars of sports law. In this context, the structural and functional characteristics of the Dispute Resolution Council (“DRC”) and the Arbitration Board of the TFF are vital for the fair and...

The Law numbered 7478 on the Approval of the Ratification of the Air Services Agreement between the Government of the Republic of Türkiye and the Government of the Republic of Maldives entered into force through publication in the Official Gazette dated 29.11.2023 and numbered 32384...

Global Competition Review (GCR), which provides important news and analyses for competition law practitioners worldwide, has published the GCR 100 2024, which includes the world's best competition law firms, determined as a result of extensive research...

The Regulation on Electricity Market Measurement Systems (Regulation) was published in the Official Gazette dated 28.12.2023 and numbered 32413.The Regulation articulates the issues regarding the determination, installation, and operation of all measurement systems, including meters within the scope...

Canan Doksat, Partner and Tax Leader, and Mehveş Erdem Kamiloğlu, Senior Associate, from Erdem & Erdem came together with law students on Friday, 22 December 2023 as part of the Career Days in Law organized by Koç University Career Development Center and Koç University Law Club...

The seminar on "Developments in Competition Law in 2023" organized by TÜSİAD Competition Law Working Group was on Tuesday, December 19, 2023 at TÜSIAD Conference Hall...

Erdem & Erdem is proud to represent Karsan in connection with its EUR 35 million Senior Term Loan Agreement with IFC.Karsan, a leading manufacturer of conventional and electric light commercial vehicles and buses, will use EUR 25 million to fund its working capital needs and EUR 10 million to support its...

The Regulation on Loan Operations of Banks (Loan Operations Regulation) and the Regulation on Determination of Risk Groups and Credit Limits (Risk Groups Regulation) (together Regulations) are published in the Official Gazette dated 21.12.2023 and numbered 32406. The Regulations will mostly enter into force...

Welcome to the November issue of Exlibris magazine, which has been created by Erdem & Erdem to bring you up to date on the current legal developments. In this issue we delve into a wide range of legal topics to offer you comprehensive insights...

The Young IFA Seminar, organized by the International Fiscal Association (IFA Turkey) - Young IFA and coordinated by Canan Doksat, Partner and Tax Leader at Erdem & Erdem and Chair of YIN Türkiye, took place at Erdem & Erdem’s İstanbul Office on Friday, December 15, 2023. Following the opening speeches...

On Thursday, 18 December 2023, we held a panel at Erdem & Erdem Academy where we discussed competitive concerns in human resources practices...

Our managing associate Ecem Süsoy Uygun's article titled “Dijital Enerji Dönüşümünde Veri Hukuku ve AB Yaklaşımı (Data Law and EU Approach in Digital Energy Transformation)” was published in the December 2023 issue of the Energy Law Journal prepared by the Energy Law Research Institute...

The MEF ILSA International Law Summit, organized by MEF ILSA (International Law Students Association) , took place online on 14 - 15 December. During the event, which hosted many expert lawyers from different countries, Erdem & Erdem senior associate Melissa Balıkçı Sezen, made a presentation titled...

Erdem & Erdem Managing Associate Didem Adlığ Sönmez and Senior Associate Hazel Coşkun Baylan met with law students on Thursday, December 14, 2023 as part of the 22nd Career Days in Law organized by Istanbul Bilgi University Faculty of Law...

Enterprise GC Türkiye 2023 Summit, organized by Legal 500, was held at InterContinental Istanbul on December 12 and 13, 2023. The event brought together more than 100 corporate legal counsel and C-level executives, as well as many speakers from the business and legal world...

Erdem & Erdem organized the "Workshop on Exchange of Information in Light of Recent Decisions" on Tuesday, December 5, 2023 at Erdem & Erdem Law Office...

"The Essays in Honour of Prof. Dr. H. Ercüment Erdem" prepared by Galatasaray University Faculty of Law, Department of Commercial Law for our Founder and Senior Partner Prof. Dr. H. Ercüment Erdem was held on Wednesday, November 29, 2023 in our office...

Companies are undergoing a transformation and development in terms of their objectives nowadays. There is no doubt that the main purpose of companies is to generate profit. However, while achieving this goal, companies should not ignore their impact on the environment and society and should act responsibly...

The assumption of a debt or an act (performance) of a third party has a critical role in the maintenance of commercial relations and the resolution of commercial disputes. The Court of Cassation General Assembly of Civil Chambers (“General Assembly”) recently issued a decision numbered...

Hub and Spoke cartel is a type of violation that is not clearly defined and regulated under Law No. 4054 on the Protection of Competition (“Law No. 4054”). Decisional practices of foreign competition authorities, particularly the UK Competition and Markets Authority’s decisions (“CMA”), are instructive concerning...

The Competition Board ("Board") made an addition to its line of decisions on resale price maintenance with its decision on Sunny Elektronik Sanayi ve Ticaret A.Ş. ("Sunny") . In its decision, the Board thoroughly examined the allegations regarding Sunny's involvement in maintaining resale prices and restricting...

The processing of genetic data has the potential to affect not only the data subjects but also the persons with whom the data subject is genetically connected. “The Guidelines on Issues to be Considered in the Processing of Genetic Data” (“Guidelines”) published by the Personal Data Protection Authority...

In line with the financing needs of companies and their desire for institutionalization, the number of public offerings shows an upward trend across Türkiye. Looking at the data published by the Capital Markets Board on its website regarding initial public offerings, it is seen that, it is seen that 35 public offerings...

The Resolution of the President dated 24.10.2023 and numbered 7731 on the Approval of the Protocol on Cooperation in the Field of Social Assistance and Social Services between the Government of the Republic of Türkiye and the Government of the Turkish Republic of Northern Cyprus was published in the...

Authors: Sevgi Ünsal Özden, Gülnur Çakmak Ergene, Defne Pırıldar, Batuhan Kalınoğlu, İlayda Salkım

Erdem & Erdem Academy continues to organize in-house training programs on various areas of law throughout the year. In November, Nil Zeren Özdemir, one of our associates from our Competition Law and Compliance unit, informed our teams on the topic of “Competition in Digital Markets”...

The Resolution on Increase in the Minimum Capital Amount for Joint Stock and Limited Liability Companies (Resolution No.: 7887) (Resolution) has been published in the Official Gazette dated 25.11.2023 and numbered 32380. The Resolution entered into force on the date of its publication, to be effective from...

We are glad to share with you the October issue of Erdem & Erdem's Exlibris magazine, which covers current developments in all areas of law. In this issue, we have a rich content that includes competition law, arbitration, the law of obligations, civil procedure law, and commercial law...

The Personal Data Protection Authority has published a public announcement dated 13.11.2023 regarding the personal data processed in order to send a verification code via SMS to the data subjects during the transactions at the cash register following shopping. You may find a brief explanation of the...

Through the promulgation of Presidential Decision No. 7782 (Decision), published in the Official Gazette dated 14th November 2023 and No. 32369, the delay interest rate, regulated under Article 51/1 of Law No. 6183 on the Procedure for Collection of Public Receivables, has been determined as 3.5% per month...

The Regulation (Amending Regulation) Amending the Regulation on Distance Agreements (Regulation) is published in the Official Gazette dated 04.11.2023 and numbered 32359. The Regulation will enter into force on 01.01.2024. The implementation of certain provisions of the Regulation on Distance Contracts...

The Competition Law Certificate Program XIV, organized by Istanbul Bilgi University Competition Law and Policy Research Center, is being held between October 14 - November 26, 2023...

Academics, DTB (Deutsch-Türkisch Bachelorstudiengang) students and alumni came together at Altınbaş University Conference Hall on Thursday, November 2 to celebrate the 10th anniversary of the Turkish-German Dual Degree Bachelor of Laws Program, which was realized in cooperation with Universität zu Köln and Altınbaş University...

Through the Communiqué on the Amendment Regarding the Communiqué on the Procedures and Principles Regarding the Application of Article 376 of the Turkish Commercial Code No. 6102 (“Communiqué”) published in the Official Gazette dated October 31st, 2023 and No. 32355, essential amendments are...

Erdem & Erdem Academy continues to organize in-house training programs on various areas of law throughout the year. In October, we discussed two topics with our lawyers from our Dispute Resolution department within the scope of our Academy sessions...

There are many different rules that newly established companies must consider and comply with when starting their commercial activities. One of these rules is the "Evasion of Law" article regulated under Article 356 of the Turkish Commercial Code No. 6102 ("TCC"). The relevant rule aims to prevent the...

With its decision dated June 8, 2023 on the application numbered 2019/17969, the Constitutional Court, as published in the Official Gazette numbered 32331 on October 6, 2023 (“Decision”), considered the rejection of a lawsuit for an unquantified debt related to the payment of labor dues due to the absence of a legal...

In general terms, eviction due to the need for residency is a lawsuit regulated under Article 350 of the Turkish Code of Obligations No. 6098 ("TCO") and is filed in the event that the lessee is obliged to use the leased property as a residence or workplace for himself/herself, his/her spouse, descendants, ascendants...

With the global shift to online activities, domain names play a crucial role in identifying businesses. It is more common than ever for a domain name to be registered that is confusingly similar to a trademark or service mark...

It is observed that the Competition Authority (“Authority”) has recently scrutinized various industries such as fast-moving consumer goods, labor market, pharmaceuticals, and cement. When the reasoned decisions of the Competition Board (“Board”) published in October are examined, it can be seen that the...

Jules Verne says, “Everything on earth has a limited lifespan, nothing that will exist forever can be created by human hands”. Perhaps change is the only constant concept in all our lives. Despite two major world wars and countless periods of crisis, humanity has been undergoing a great change and...

The Law on the Approval of the Ratification of the Intergovernmental Agreement on Dry Ports numbered 7459 was published in the Official Gazette dated 17.10.2023 and numbered 32342...

The Protocol on Cooperation and Exchange of Information (Protocol) was signed between the Personal Data Protection Authority and the Competition Authority. The cooperation between the authorities aims to prevent practices that may harm both the privacy of personal data and the establishment of...

The Regulation on Foreign Subsidies Distorting the Internal Market (Regulation), which was published in the Official Journal of the European Union (EU) dated 23.12.2022 and numbered L/330 entered into force on 12.01.2023, and became applicable as of 12.07.2023...

Erdem & Erdem Managing Associate Ecem Süsoy Uygun gave a training on "Ethics in the Energy Sector and Security of Personal Data" on Saturday, October 14th within the scope of the Energy Law Certificate Program organized by Bahçeşehir University Continuing Education Center and Istanbul Institute...

The symposium on "Regulation of Electronic Commerce" organized by the Istanbul Bar Association Consumer Rights and Competition Law Center was held on October 7-8, 2023 at the conference hall of the Istanbul Bar Association. The symposium started at 09.30 on Saturday, October 7 with the opening speech of...

The Regulation Amending the Electricity Market License Regulation (Regulation) was published in the Official Gazette dated 14.10.2023 and numbered 32339. With the Regulation...

As Erdem & Erdem, we are here with the September 2023 issue of Exlibris. In this issue, we are excited to share with you an important milestone about our office. As Erdem & Erdem, we are very happy to announce that we have opened our first international office in Amsterdam, the Netherlands. In addition to...

The Communiqué (Communiqué No: 2024-32/70) Amending the Communiqué (Communiqué No: 2008-32/34) on the Decree No: 32 regarding the Protection of the Value of the Turkish Currency was published in the Official Gazette dated 08.10.2024 and numbered 32686...

We are thrilled to announce the opening of Erdem & Erdem's Netherlands office. As a leading international law firm, we are expanding our global network with the opening of our new office in Amsterdam, at the World Trade Center. We aim to provide more effective legal solutions to our European clients and Turkish...

The Regulation on Railway Infrastructure Access and Capacity Allocation (Regulation) entered into force through publication in the Official Gazette dated 28.09.2023 and numbered 32323. The important amendments introduced by the Regulation are summarized...

The Legal 500 has published the Legal 500 Private Practice Powerlist 2023 - Dispute Resolution - Turkey, listing Türkiye's top practitioners specializing in litigation, arbitration, mediation and other dispute resolution...

Law No. 7456 on Additional Motor Vehicle Tax for Compensation of Economic Losses Caused by the Earthquake on 6/2/2023 and on Amendments to Certain Laws and Decree-Law No. 375 (“Law No. 7456”) was published in the Official Gazette dated 15.07.2023 and No. 32249. Law No. 7456 introduced significant...

Today, the globalization of economic activities leads to the transfer of numerous personal data internationally during the daily operations of companies. Therefore, like many national and international data legislations, Law No. 6698 on the Protection of Personal Data (“PDPL” or “Law”) includes protective...

At the meeting of the Fédération Internationale de Football Association (“FIFA”) held on 16 December 2022, the FIFA Council approved the FIFA Football Agents Regulations (“FFAR”). In the FFAR, various amendments have been made, such as the introduction of a maximum service fee limit that football agents are...

The Grand General Assembly of the Unification of Jurisprudence ("GGAUJ") ruled with the Decision of the Grand General Assembly of the Unification of Jurisprudence dated 28.04.2023 numbered 2021/5 E. 2023/2 K. ("Decision") that if the legal remedy period is erroneously indicated longer in the decision in...

In the physical electricity trade, the metering of electricity plays a very important role in several respects such as (i) the metering of actual deliveries and receipts of electricity, (ii) estimation of the electricity generation and consumption in advance, (iii) determining the price payable by the parties for electricity supply...

The Turkish automobile and light commercial vehicle market left the 2000s behind with steadily rising sales figures and the 2010s with high and stable sales figures as well. In this period, the growth of the market was driven not only by high purchase power but also by easy access to credit and product diversity...

Turkish Commercial Code No. 6102 ("TCC") provides the right to exit from the company to the shareholders of limited liability companies and the right to squeeze out the shareholder from the company, unlike the structure of joint stock companies, with the exit and squeeze out institutions specially regulated for...

The Resolution of the President dated 14.09.2023 and numbered 7611 on the Approval of the Agreement signed between the Government of the Republic of Turkey and the Government of Hungary on 06/04/2023 on Cooperation in the Field of Sports was published in the Official Gazette dated 15.09.2023 and...

The Regulation Amending the Regulation on the Procedures and Principles Regarding the Sale and Service of Tobacco Products and Alcoholic Beverages (Regulation) is published in the Official Gazette dated 20.09.2023 and numbered 32315. The amendments introduced by the Regulation are summarized...

The Communiqué on Ship Agency Services Tariff (Communiqué) prepared by the Ministry of Trade for the ship agencies authorized as per the Regulation on Ship Agencies is published in the Official Gazette dated 19.09.2023 and numbered 32314...

The webinar titled "Cyber Security and Legal Compliance in Capital Markets" organized by the Turkish Capital Markets Association took place on Thursday, September 21 between 14.00 - 16.00. The webinar featured speakers Özgür Kocabaşoğlu, (Partner and Head of Corporate, Erdem & Erdem), Didem Adlığ Sönmez...

IFLR, which conducts detailed analysis based on qualitative research, deal data and client feedback, has announced the 2023 IFLR1000 rating results for firms and lawyers in Europe...

The Office of Foreign Assets Control (OFAC) of the United States (US) has included some Turkish companies and an individual in the specially designated nationals and blocked persons list (SDN List) to limit Russia’s ability to acquire, develop and maintain the technology it needs for its war machines. The OFAC’s...

The Constitutional Court’s decision dated 22.06.2023 and numbered 2023/33 E., 2023/117 K. (Decision) has been published in the Official Gazette dated 15.09.2023 and numbered 32310. The Constitutional Court decided to annul certain parts of the provisional article 7 of the Turkish Commercial Code No. 6102...

The Constitutional Court’s decision dated 22.06.2023 and numbered 2023/117 E., 2023/121 K. (Decision) has been published in the Official Gazette dated 15.09.2023 and numbered 32310. The Constitutional Court decided to annul a part of paragraph 1 of Article 3 of the Law on the Acquisition of Immovable...

We are pleased to present the August 2023 issue of Erdem & Erdem Exlibris, which will keep you up to date on the most recent legal developments. We have created significant content for you on a wide range of topics, including commercial law, civil law, banking and finance law, and capital markets law...

We are proud to announce that İbrahim Onur Baysal joined Erdem & Erdem as Partner and Capital Markets Leader. İbrahim Onur Baysal started his career at the Capital Markets Board in 2009. After working for more than 10 years as a Legal Expert and Chief Legal Expert in various units of the Board, he continued...

The training titled "Evaluation of the Maritime Sector in terms of Competition Law and Labor Law" organized by the Istanbul and Marmara, Aegean, Mediterranean and Black Sea Regions Chamber of Shipping was held on Wednesday, September 6 at 10:30 am at the Assembly Hall of the Chamber of...

CyberArb, an (non-profit) initiative with a multidisciplinary and international legal & tech team at the intersection between cybersecurity and international arbitration/ADR started a new internal initiative in 2023. CyberArb All Hands, sessions for their volunteers to e-meet every month and plan, brainstorm, and...

Turkish Commercial Code No. 6102 (“TCC”) preserves the rule that the board of directors shall manage and represent joint stock companies. The TCC regulates how the power of representation shall be exercised, the registration and announcement of the persons authorized to represent, the transfer of the...

As this newsletter moves into a more sustainable future with eco-friendly Exlibris, so does the EU’s financial markets regulator and supervisor, the European Securities and Markets Authority (“ESMA”). In light of its 2023-2028 strategy , ESMA supports the Environmental, Social and Governance (ESG) transition by...

The Communiqué on the Principles Regarding the Companies whose Shares will be Traded on the Venture Capital Market (II-16.3) ("Communiqué") has facilitated for private joint stock companies to sell their shares to qualified investors without a public offering. Thus, a new opportunity is created for joint stock...

The concept of estate, which can be considered as the foundation of our inheritance law, refers to all the property, rights, and debts belonging to an individual after their death. Throughout history, humans have been buried with their cherished belongings based on religious beliefs, but over time, it has been observed...

The European Commission (“Commission”) has published the Proposal for a Directive of the European Parliament and of the Council on Payment Services and Electronic Money Services in the Internal Market amending Directive 98/26/EC and repealing Directives 2015/2366/EU and 2009/110/EC. This proposal...

The Resolution of the President dated 21.07.2023 and numbered 7393 on the Approval of the Memorandum of Understanding between the Government of the Republic of Türkiye and the Government of the People’s Democratic Republic of Algeria on Cooperation in the Field of Mining was published in the Official...

The Central Bank of the Republic of Türkiye's (CBRT) communiqués (Communiqués) introducing new regulations on Foreign Exchange Protected Deposit (FXPD) accounts have been published in the Official Gazette dated 20.08.2023 and numbered 32285. The regulations therein aim to minimize the volume of the...

International Tax Review (ITR), which provides worldwide news and analysis on all aspects of corporate taxation, has published its research results for 2024. Erdem & Erdem has been included in the 2024 edition of the ITR World Tax Firm Directory, a list of the world's leading tax and transfer pricing firms and...

The Regulation on Measures Regarding Natural Gas Market Distribution Licenses (Regulation) entered into force after being published in the Official Gazette dated 19.08.2023 and numbered 32284. The Regulation covers the procedures and principles regarding the measures to be taken for the protection of natural...

The Regulation on Technical Arrangements in Foreign Trade (Regulation) entered into force after being published in the Official Gazette dated 16.08.2023 and numbered 32281. The provisions of the Regulation are summarized below...

We are proud to present you the July 2023 issue of Erdem & Erdem Exlibris, which takes the pulse of current legal developments. In this issue, we have written articles in many areas from personal data protection law to competition law, from IT law to capital markets...

The Bundeskartellamt decided on June 26, 2023 that (Decision) several practices and contractual clauses used by the German national railway company Deutsche Bahn (DB) in relation to rival mobility platforms constitute an abuse of market power in the mobility services market...

As Erdem & Erdem, we are delighted to join the TAIDER Family Businesses Association family, which makes significant contributions to the institutionalization journey of family businesses in Türkiye and their long-term sustainability for generations...

Our Partner and Tax Leader Canan Doksat and Legal Intern Tunahan Sefa Aydın co-authored an article titled “Bir Olağan Dışı Vergilendirme Örneği: Ek Vergi Düzenlemesi Üzerine Bir Değerlendirme [An Example of Extraordinary Taxation: An Evaluation of Additional Tax Regulation]” was published in the 2023/1...

The workshop "Competitive Concerns in Human Resources Practices" organized by the German-Turkish Chamber of Commerce and Industry (AHK) was held online on Thursday, August 3, 2023.

Turkish Competition Board (Board) announced its final decision (Decision) as a result of the investigation conducted against certain undertakings through gentlemen’s agreement pursuant to the Board decisions dated 01.04.2021 and numbered 21-18/213-M, dated 05.08.2021 and numbered 21-37/527-M, dated...

In its judgment of July 4, 2023 (Decision), the Court of Justice of the European Union (CJEU) has ruled that the national competition authorities may rely on the General Data Protection Regulation (GDPR) in their investigation in respect of abuse of dominant position...

The Constitutional Court’s decision dated 01.06.2023 and numbered 2020/56 E., 2023/108 K. (Decision) is published in the Official Gazette dated 01.08.2023 and numbered 32266. The Constitutional Court decided to annul certain provisions of the provisional Article 13 of the Turkish Commercial Code No. 6102...

Authors: Sevgi Ünsal Özden, Gülnur Çakmak, Defne Pırıldar, Melis Uslu

The Information Technologies and Communications Board adopted the Procedures and Principles for Social Network Providers (“Procedures and Principles”) with its decision dated 28.03.2023 and numbered 2023/DK-ID/119. The said decision was published in the Official Gazette dated 01.04.2023, and entered into...

The first “Artificial Intelligence Act” of all time, which includes rules and regulations that directly affect tools such as ChatGPT, Bard and Midjourney adopted by the European Parliament with a majority of votes. Thus, the European Parliament has officially taken the steps of a regulation that could be a turning point for...

Resale Price Maintenance (RPM) is still considered a hardcore restriction under the recently revised Vertical Block Exemption Regulation (VBER), which means that it cannot benefit from a statutory exemption under Article 101(1) TFEU, unlike certain other types of vertical agreements. However, it has been debated...

In competition law, it is important to accurately determine the concept of undertaking, especially in terms of mergers and acquisitions. Therefore, the concept of economic entity aims to reveal the economic units covered by the undertakings. The relationship between the concept of economic entity and family ties comes...

In 1987, the United Nations World Commission on Environment and Development published a report entitled “Our Common Future”. The report drew attention to the causes of global environmental problems and defined sustainable development as “development that meets the needs of the present without compromising...

The Grant Agreement signed on 06.04.2023 between the Ministry of Treasury and Finance of Republic of Türkiye, Development and Investment Bank of Turkey (TKYB) and German Development Bank (KfW) was published in the Official Gazette dated 04.07.2023 and numbered 32238...

The Regulation Amending the Charging Service Regulation entered into force through publication in the Official Gazette dated 28.07.2023 and numbered 32262 and the Regulation Amending the Regulation on Workplace Opening and Operating Licenses (Amending Regulations) entered into force through publication...

The Regulation on Promotion and Information Activities in Healthcare Services (Regulation) entered into force through publication in the Official Gazette dated 29.07.2023 and numbered 32263. The significant amendments introduced by the Regulation are summarized...

The investigation initiated against DSM Grup Danışmanlık İletişim ve Satış Ticaret A.Ş. (Trendyol) with the Competition Board (Board) decision dated 23.09.2021 and numbered 21-44/650-M is concluded. In this context, the Board decided in its short decision (Decision) that...

With the decision of the Personal Data Protection Board (Board) dated 06.07.2023 and numbered 2023/1154, the “annual financial balance sheet total” adopted by the Board as an exception criteria to the obligation to register to the Data Controllers’ Registry has been increased from 25 million Turkish Liras to...

The Energy Market Regulatory Authority’s (EMRA) Decision (Decision) dated 20.07.2023 and numbered 11960 was published in the Official Gazette dated 25.07.2023 and numbered 32259. With the Decision, some issues regarding electricity generation in free zones have been clarified...

Our internal training sessions, which Erdem & Erdem Academy organizes throughout the year on numerous legal topics, continue. In the second quarter of the year we addressed 5 themes within the scope of the Academy. On April 7, 2023, Beyza Günsel Sürücü, one of our Tax Department associates, informed our...

We are proud to announce that Erdem & Erdem has been shortlisted for Turkey Tax Firm of the Year category at the ITR EMEA Tax Awards 2023. Since their establishment in 2005, the ITR EMEA Tax Awards have been held yearly to honor the outstanding accomplishments and innovations made by tax...

We are pleased to present you the June 2023 issue of Erdem & Erdem Exlibris, which deals with current legal developments. In this issue, we have written articles in many areas from competition law to arbitration, capital markets to civil law.

The German Parliament (Bundestag) has adopted the 11th GWB amendment on July 6, 2023. (Wettbewerbsdurchsetzungsgesetz) After being approved by the Bundesrat, Germany’s second legislative body, the legislative procedure will be completed, approximately by the end of September. The amendment proposal...

Law No. 7456 on Additional Motor Vehicle Tax for Compensation of Economic Losses Caused by the Earthquake on 6/2/2023 and on Amendments to Certain Laws and Decree Law No. 375 (Law No. 7456) was published in the Official Gazette dated 15.07.2023 and No. 32249. The significant tax amendments included in the Law No. 7456 are...

The Communiqué on Procurements to be Made by Direct Procurement Method (Communiqué) is published in the Official Gazette dated 11.07.2023 and numbered 32245. The Communiqué will enter into force on 01.02.2024. Main issues set forth under the Communiqué are...

Global Arbitration Review (GAR) hosted its tenth annual GAR Live: Istanbul Conference on June 22, 2023, at Çırağan Palace Kempinski...

The Communiqué (No. 2023/16) on the Amendment to the Communiqué on Required Reserves (No. 2013/15) (Communiqué) is published in the Official Gazette dated 08.07.2023 and numbered 32242. The Communiqué entered into force on the date of its publication, effective as of 07.07.2023. With the Communiqué...

Authors: Canan Doksat, Didem Adlığ Sönmez, İdil Yıldırım Günaydın, Yağmur Zeytinkaya Öztürk, Helin Akbulut, Melis Uslu

Terralex, a prominent legal network, has recently published a Cross-Border Guide to ESG & Sustainable Finance, a resource for key ESG regulations and trends around the world, on its website. This comprehensive guide aims to provide insights into key ESG regulations and emerging trends on a global scale...

The Communiqué Amending the Communiqué on Securities Maintenance (Amending Communiqué) is published in the Official Gazette dated 25.06.2023 and numbered 32232. Significant amendments introduced by the Amending Communiqué are...

The Regulation (Amending Regulation) Amending the Regulation on Payment Services and Electronic Money Issuance and Payment Service Providers (Regulation) and the Communiqué on Information Systems of Payment and Electronic Money Institutions and Data Sharing Services of Payment Service...

The Regulation Amending the Regulation on Second Hand Motor Vehicle Trade (Regulation) is published in the Official Gazette dated 06.07.2023 and numbered 32240. The Regulation will enter into force on 15.07.2023. Significant amendments introduced by the Regulation are...

2022 was a year of trying to recover from the global and local socio-cultural and economic impacts of the Covid-19 pandemic that marked the previous two years. The Russia-Ukraine War that broke out after the pandemic changed the balances in the world. In this first year of war after Russia's invasion of...

In these days when the Competition Board (“Board”) frequently imposes administrative fines for preventing on-site inspections and both the Competition Authority (“Authority”) and undertakings take legal and technical measures regarding on-site inspections, a striking development has occurred. In its decision...

The ICC Commission on Arbitration and ADR (“Commission”) published a new guide and report with the aim to increase awareness on alternative dispute resolution (“ADR”) mechanisms to prevent disputes and strengthen the relationship between all stakeholders.The Guide on Effective Conflict Management...

Swiss Financial Markets Supervisory Authority (“FINMA”), through its decision dated 19 March 2023, approved the merger of Credit Suisse with UBS Group AG (“UBS”) and to write down the Additional Tier 1 capital bonds (referred to as AT1) issued by Credit Suisse, with a total value of approximately CHF 17 billion...

Inheritance contracts are contracts involving a testamentary disposition concluded by the legator, with her inheritor or a third party. A testamentary disposition is a legal transaction that includes the orders of the legator that she wishes to be carried out after her death. Testamentary disposition term is used in two...

Online advertising has become an important source for businesses for promoting products and services and meeting consumers, as a result of the rapid development of information technologies and increase in the use of internet. Delivering targeted messages to consumers at the right time through the digital...

The Resolution of the President dated 06.06.2023 and numbered 7302 on the Ratification of the Economic and Financial Cooperation Agreement between the Republic of Türkiye and the Turkish Republic of Northern Cyprus for 2023 was published in the Official Gazette dated 07.06.2023 and numbered 32214...

The Procedures and Principles Regarding Offsetting for Generation and Consumption Facilities Located in Different Distribution Regions or Assigned Supplier Company Regions (Procedures and Principles), adopted by the Energy Market Regulatory Authority’s decision dated 22.06.2023 and numbered 11917, is...

The Communiqué Amending the Communiqué on the Implementation of Energy Performance Contracts in Public Sector (Communiqué) entered into force through publication in the Official Gazette dated 23.06.2023 and numbered 32230. The amendments made by the Communiqué are...

Authors: Prof. Dr. H. Ercüment Erdem, Melissa Balıkçı Sezen, Mehveş Erdem Kamiloğlu, Tilbe Birengel

The Constitutional Court (CC), in its decision dated 23.03.2023 and numbered 2019/40991 (CC Decision), stated that workplaces such as the headquarters, branches and facilities are considered as domicile within the scope of Article 21 of the Constitution and ruled that the competence granted to competition...

The webinar titled "Evaluation of the Maritime Sector in terms of Competition Law and Labor Law" organized by the Turkish Port Operators Association (TÜRKLİM) was held on Thursday, June 15th between 10.00 - 12.00...

We are pleased to bring you the May 2023 issue of Erdem & Erdem Exlibris, which deals with current legal issues. In this issue, we have covered many current issues in the fields of labor law, tax law, competition law, enforcement and bankruptcy law, personal data protection and civil law...

The 2023 IDI Annual Conference, which focused on the pressing topic of "Restrictions on the Freedom of Contract- To what extent can you trust that your distribution or franchise contract will not be reinterpreted or rebalanced by Courts." was held in Bologna on 9-10 June 2023...

Melissa Balıkçı Sezen, one of our senior associates, met with Galatasaray University law students on Wednesday, June 6, as part of the "Galatasaray University Law Career Day" organized by Galatasaray University Law Club and GSU Career Development and Application Center...

Employment relations between the employee and the employer may be terminated for various reasons, as in all other contractual relations. Employment contracts may be terminated through mutual agreement between the parties, as well as through the unilateral termination of...

In order to determine the procedures and principles regarding the implementation of certain articles of the Misdemeanor Law No. 5326 (“Law”), which is the general procedural law for administrative fines, the Ministry of Treasury and Finance (“Revenue Administration”) has published the General...

Selective distribution systems refer to a type of distribution system in which suppliers commit to selling the contracted goods or services directly or indirectly to distributors selected based on specified criteria, while the distributors commit not to sell the said goods or services to unauthorized...

This study examines the decision ("Decision") of the Turkish Constitutional Court ("CC") dated 22.02.2023, published in the Official Gazette on April 28, 2023, which abolished the first sentence of Article 187 of the Turkish Civil Code numbered 4721 ("TCC"), which obliges a woman to take her husband's surname upon...

In general terms, concordat is a method of releasing the remaining debt regulated within the framework of the law of enforcement. The concordat procedure, which is formed by the acceptance of all debts of the debtor, who cannot pay their debts even though they are due, within a certain period of time, by the...

In its decision regarding Case-300/21 and dated May 4, 2023, the Court of Justice of the European Union (“CJEU”) evaluates the right to compensation for an infringement of the European Union General Data Protection Regulation (“GDPR”) regulated in Article 82 of the GDPR. The CJEU decided that a mere...

The Resolution on the Approval of the Annexed Amendment Letter Regarding the Separate Agreement on the Financing Agreement between the Ministry of National Education of the Republic of Turkey and the German Development Bank (KfW) on the Clean Energy and Energy Efficiency Measures Project...

The decision by the Irish Data Protection Authority (Authority) dated 12.05.2023 on Meta Platforms Ireland Limited (Meta Ireland) (Decision) has been announced on 22.05.2023. Pursuant to the Decision, an administrative fine of 1.200.000.000 Euros was imposed on Meta Ireland...

The Regulation Amending the Regulation on Enhancement and Evaluation of Quality in Healthcare (Regulation on Quality in Healthcare), the Regulation on Technical Maintenance Services for Medical Devices Used in Health Services (Regulation on Technical Maintenance Services for Medical Devices), the...

The Regulation Amending the Regulation on Remote Identification Methods to be Used by Banks and Establishment of Contractual Relations in Electronic Environment (Regulation) is published in the Official Gazette dated 25.05.2023 and numbered 32201. The Regulation will enter into force on 01.06.2023...

The Presidential Decision dated 25.05.2023 and No. 7300 (Decision) has entered into force through publication in the Official Gazette dated 26.05.2023 and No. 32202. The Decision extended the deadlines for applications and first installment payments for debt restructuring, tax base increase and correction of...

The Regulation on Small and Medium Enterprises (Regulation) entered into force through publication in the Official Gazette dated 25.05.2023 and numbered 32201. The Regulation superseded the Regulation on the Definition, Qualifications and Classification of Small and Medium-Sized Enterprises (Superseded...

The issue of whether the intervener has the right to apply for legal recourse in administrative cases, which has long led to contradictions and different interpretations between the decisions of the chambers and boards of the Council of State, has been clarified...

The Constitutional Court’s Decision no. 2017/36186 dated 28.12.2022 (Decision) was published in the Official Gazette no. 32168 on 19.04.2023. In the Decision, unilateral changes made with an administrative regulation in the conditions of the concession agreement to which Turkcell is a party, were found to be a violation...

The Communiqué on the Principles Regarding the Companies whose Shares to be Traded on the Venture Capital Market (II-16.3) (Communiqué) has entered into force through publication in the Official Gazette dated 18.05.2023 and numbered 32194. The Communiqué sets out the principles and procedures regarding...

The Communiqué Amending the Communiqué on Securities Maintenance (No: 2023/11) (Amendment) entered into force through publication in the Official Gazette dated 17.05.2023 and numbered 32193. With the Amendment, a temporary practice regarding banks’ securities maintenance obligation has been...

The Regulation on Ship Registry (Regulation) entered into force through publication in the Official Gazette dated 12.05.2023 and numbered 32188. The Regulation superseded the Ship Registry Regulation put into force by the Resolution of the Council of Ministers dated 31.12.1956 and numbered 4/8520 and...

The national symposium on "Legal Problems Arising from Yacht and Marina Management" organized by Piri Reis University Faculty of Law, Maritime Law Practice and Research Center was held on Thursday, May 11th at Burhan Kunt Hall, Istanbul Sailing Club...

Our third issue includes articles written by our distinguished lawyers, all of whom are experts in their respective professions, legal developments in the national arena in April, and news from us...

The Competition Authority presented its important studies on various sectors to the public. The reports, which address the competition law implications of the transformation in digital markets, and include findings and assessments on the fast-moving consumer goods retailing and online advertising sectors...

The Regulation (Amending Regulation) Amending the Regulation on Payment Services and Electronic Money Issuance and Payment Service Providers (Regulation) and the Communiqué on Information Systems of Payment and Electronic Money Institutions and Data Sharing Services of Payment Service...

The Regulation on the Amendment to the Regulation (Regulation) on Duty-Free Sales Stores (Amending Regulation) has entered into force through publication in the Official Gazette dated 20.04.2023 and numbered 32169. The key amendments introduced under the Amending Regulation are summarized as...

An event titled "Changing Dynamics in the Electricity Sector; Competition and Energy Efficiency" organized by Turkish Electricity Industry Association (TESAB) and Eurelectric Turkey was held online via Zoom on Thursday, May 4, 2023...

Symposium on Non-Competition in Private Law organized by Marmara University Faculty of Law was held on Wednesday, May 3, 2023 at Bilkent University Central Campus...

Authors: Sevgi Ünsal Özden, Gülnur Çakmak, Defne Pırıldar, Melis Uslu

The decision of Banking Regulation and Supervision Board dated 27.04.2023 and numbered 10585 (Decision) is published in the Official Gazette dated 28.04.2023 and numbered 32174. The Decision extends the application deadline and the date of transfer to the Savings Deposit Insurance Fund (the Fund)...

Ordinary partnerships are regulated under Turkish Law between Articles 620 and 645 of the Turkish Code of Obligations No. 6098 (“TCO” or the “Code”). The Law defines an ordinary partnership contract as a contract where two or more persons undertake to combine their labour or property to achieve a common...

Fast-moving consumer goods is undoubtedly one of the sectors that the Competition Authority has been working most intensively since the COVID 19 pandemic. Among the most important developments of this period was the Sector Inquiry initiated on Fast Moving Consumer Goods (“FMCG”) Retailing...

ChatGPT, a large language model (LLM) developed by OpenAI, is an artificial intelligence (AI) system based on deep learning techniques and neural networks for natural language processing. ChatGPT can process and generate human-like text, chat, analyse and answer follow-up questions, and acknowledge errors...

Merger and acquisition processes are one of the legal processes that most seriously affect the identities and legal status of companies. After the completion of legal, tax, financial and operational due diligence reports, the parties initiate the negotiation process in case they reach an agreement on proceeding with the...

In the decision of the Constitutional Court ("Constitutional Court" or "Court") dated 09.11.2022, numbered 2020/67 E. 2022/139 K. (the "Decision"), the annulment of certain articles of the Law Amending the Law on the Protection of Competition No. 4054 ("Law No. 7246") was requested...

Through Article 20 of Law No. 7440 on Restructuring of Certain Receivables and Amending Certain Laws (“Law No. 7440”), published in the Official Gazette dated 12 March 2023 and No. 32130, significant and new tax regulations regarding debt push down financing structure for merger transactions are introduced...

The Resolution of the President dated 01.04.2023 and numbered 7025 on the Approval of the Protocol on the Accession of the Republic of Finland to the North Atlantic Treaty was published in the Official Gazette dated 02.04.2023 and numbered 32151...

The 5th Iuris Agora Law Forum organized by Bilkent Law Society took place on April 29-30, 2023 at Bilkent University Central Campus...

Council of State Plenary Session of the Tax Law Chamber (Council of State TLC) decided that real estate taxpayers can file a lawsuit against the decisions of the appraisal commissions for the determination of minimum plot and land unit values until the last day of the year during which such decisions are taken...

The Constitutional Court’s decision dated 22.02.2023 and numbered 2022/155 E. 2023/38 K. (Decision) is published in the Official Gazette dated 28.04.2023 and numbered 32174. With the decision, Article 187 of the Turkish Civil Code regarding the surname of women is cancelled...

The deadline for declaring the corporate tax return pertaining to FY 2022 is May 5, 2023. If there are any disputed taxes (e.g. additional -earthquake- tax) and a tax lawsuit is planned to be filed, we would like to remind that the tax return should be declared with a reservation...

Operating globally in all areas of the glass industry, including flat glass, glassware and glass packaging, Şişecam acquired the European Bank for Reconstruction and Development's (EBRD) 10% shares in Şişecam Çevre Sistemleri. As a result, Şişecam became the sole shareholder of Şişecam...

Our second issue includes articles written by our distinguished lawyers, all of whom are experts in their respective professions, legal developments in the national arena in March, annual bulletins and reports, podcasts and news from us...

The Regulation Amending the Ports Regulation (Regulation) entered into force through publication in the Official Gazette dated 14.04.2023 and bis numbered 32163. Significant amendments made by the Regulation are summarized below...

Erdem & Erdem Managing Associate Ecem Süsoy Uygun gave a training on "Ethics in the Energy Sector and Personal Data Security" on March 4 and April 8 within the scope of the Energy Law Certificate Program organized by Bahçeşehir University Continuing Education Center and Istanbul Institute...

The 2023 1st Quarter presentations were held as part of the training programs that Erdem & Erdem Academy organized throughout the year in a variety of legal subjects. On February 23, 2023, our Managing Associate, Sevgi Ünsal Özden informed our teams on the subject titled "European General Data Protection...

Legal 500, one of the leading international legal directories which provides rankings of law firms based on client feedback and market research, published their Europe, Middle East & Africa (EMEA) 2023 results. Erdem & Erdem has been ranked again as a Top Tier law firm for its Dispute Resolution practice...

The Regulation Amending the Regulation on Private Hospitals (Regulation on Private Hospitals) and the Regulation Amending the Regulation on Private Health Institutions for Outpatient Diagnosis and Treatment (Regulation on Private Health Institutions) namely (Amending Regulations) entered into force through...

The decision (Decision) of the Information and Communication Technologies Board (Board) dated 28.03.2023 and numbered 2023/DK-ID/119 entered into force through publication in the Official Gazette dated 01.04.2023 and numbered 32150. The Decision introduced amendments to the procedures and principles...

Through the Law No. 7440 on Restructuring of Certain Receivables and Amending Certain Laws (Law No. 7440) published in the Official Gazette dated 12.03.2023 and No. 32130, procedures and principles regarding restructuring of the certain public receivables are regulated...

The "Law No. 7445 on the Amendment of the Execution and Bankruptcy Law and Certain Laws", a kind of "omnibus law" known as the 7th Judicial Package, entered into force after being published in the Official Gazette dated 05.04.2023. As its name suggests, the Law provides for a number of amendments to the...

Organization for Economic Co-operation and Development (“OECD”) has published its paper[i] presenting an outline of the diverse frameworks implemented for open banking and other data sharing arrangements in different jurisdictions, discussing expansion of open banking related data arrangements, which is referred...

The Decree No. 32 on the Protection of the Value of Turkish Currency (“Decree No. 32”) and the Communiqué No. 2008-32/34 on the Decree No. 32 on the Protection of the Value of Turkish Currency (“Communiqué”) prohibit the determination of the contract prices of certain contracts and other payment obligations...

A popular business model for expanding market reach and brand recognition worldwide is franchising. Despite being less common than distribution agreements in the form of mono-brand store agreements, franchising is another significant method for extending luxury brands' distribution networks. Luxury brands use...

In Turkish competition law, certain types of mergers and acquisitions are subject to Turkish Competition Board’s (“Board”) approval in order to gain legal validity. Pursuant to Article 7 of the Law No. 4054 on the Protection of Competition (“Law No. 4054”), the Board is competent to define mergers and acquisitions...

The Personal Data Protection Law numbered 6698 (“PDPL”) introduces definitions for many concepts such as personal data, data controller, data processor and data subject. In terms of understanding and interpreting these concepts, secondary legislation, Personal Data Protection Authority (“Authority”) guidelines...

The Resolution of the President dated 08.03.2023 and numbered 6913 on the Ratification of the Agreement between the Republic of Turkey and the European Union on the Participation of the Republic of Turkey in the Union Program on Cooperation in the Customs Area, ‘Customs’, effective from 1 January 2021...

Chambers & Partners, one of the leading international legal directories which provides rankings of law firms based on client feedback and market research, published their Europe 2023 and Global Guide 2023 results...

The German Act on Corporate Due Diligence Obligations in Supply Chains (Law) entered into force on January 1, 2023. The Law imposes significant obligations on German companies in relation to environmental law and human rights, covering their supply chains...

Authors: Melissa Balıkçı Sezen, Tilbe Birengel, Mehveş Erdem Kamiloğlu

'The 11th Law Students Forum' organized by Bilkent University Career in Law Club took place online on March 26, 2023. Senior Associate Mehveş Erdem Kamiloğlu and Associate İdil Yıldırım Günaydın of Erdem & Erdem made a presentation on Erdem & Erdem Law Office...

Our first issue includes articles written by our distinguished lawyers, all of whom are experts in their respective professions, legal developments in the national arena in January and February, annual bulletins and reports, podcasts and news from us...

Through the Law No. 7440 on Restructuring of Certain Receivables and Amending Certain Laws (Law No. 7440), published in the Official Gazette dated 12.03.2023 and No. 32130, procedures and principles regarding restructuring of the specified public receivables are regulated...

Through Law No. 7440 on Restructuring of Certain Receivables and Amendments to Certain Laws (Law No. 7440), published in the Official Gazette dated 12 March 2023 and No. 32130, amendments... 

Through the Article 20 of Law No. 7440 on Restructuring of Some Receivables and Amending Some Laws (Law No. 7440), published in the Official Gazette dated 12 March 2023 and No. 32130, significant tax regulations regarding Debt Push-Down financing structure for merger transactions are introduced...

Through Article 10/27 of the Law No. 7440 on Restructuring of Certain Receivables and Amendments to Certain Laws (Law No. 7440) published in the Official Gazette dated 12 March 2023 and numbered 32130, an additional corporate (earthquake) tax at the rate of 10% is imposed against some corporate taxpayers...

Authors: Ecem Süsoy Uygun, Merve Demirkaya, Nil Zeren Özdemir

The Law on the Amendment of the Law on Social Security and General Health Insurance and the Decree Law No. 375, publicly known as the Law of Victims of Delayed Pension Age (EYT Law) entered into force upon its publication in the Official Gazette dated March 3, 2023 and numbered 32121. With the EYT Law...

The Resolution of the President (Resolution) numbered 6807 on the Procedures and Principles Regarding the Tenders to be Conducted by the Ministry of Treasury and Finance within the Scope of Subparagraph (b) of Article 3 of the Public Procurement Law No. 4734 entered into force following its publication...

Mergers and Acquisitions (“M&A”) are restructuring of companies or assets through various types of financial transactions, such as mergers, acquisitions, purchase of assets, or management acquisitions. This Newsletter article covers M&A disputes being solved before arbitral tribunals.

In the decision dated 14.06.2022 and numbered 2019/149 E. 2022/894 K., the Court of Cassation General Assembly (“CCGA”) evaluated the theory of piercing the corporate veil in the context of the relationship between the guarantor and the borrowing company in a dispute arising from a loan agreement...

Turkish electricity market has been going through turbulent times particularly in 2022. Steep increases in commodity prices that are used in electricity generation have urged the policy makers to take measures for minimizing further price increases in the electricity market as well as for maintaining security of supply...

Article 285 et seq. of the Enforcement and Bankruptcy Law No. 2004 ("EBL") provides debtors who are unable or in danger of being unable to pay their debts when due, the opportunity to restructure their debts before bankruptcy and to eliminate the risk of bankruptcy. In 2018, with the comprehensive amendment to...

The European Union continues to be an important investment center for foreign investors. According to data from the European Commission's "Second Annual Report on the monitoring of foreign direct investment in the European Union", the European Union received €117 billion worth of foreign direct investment in...

Recently, the Competition Board (the Board) had imposed administrative fines on banks and financial institutions for failing to respond to the request for information within the scope of a preliminary investigation.[i] The request for information that lays the groundwork for the administrative fine imposed by...

The Resolution of the President dated 25.01.2023 and numbered 6728 on the Application of the Exemption in the Fourth Paragraph of the Provisional Article 14 of the Corporate Tax Law No. 5520 to the Foreign Currencies in the Balance Sheets of the Corporations as of 31.12.2022 was published in the Official...

Authors: Alper Uzun, Rüştü Mert Kaşka, Abdullah Bozdaş, Aslı Su Çoruk

The Presidential Decree on the Measures Taken in the Field of Labor and Social Security under the State of Emergency (Decree) entered into force through its publication in the Official Gazette dated 22.02.2023 and numbered 32112. The measures introduced by the Decree and to be implemented in the...

Erdem & Erdem Founder and Senior Partner, Prof. Dr. H. Ercüment Erdem attended the RAA Arbitration Seminar and Networking event organized by the Russian Arbitration Institute in Dubai on Friday, February 17, 2023, sponsored by Masin Middle East...

The 11th ICC MENA International Arbitration Conference, organized by the International Chamber of Commerce (ICC), took place on 15-16 February 2023 in Abu Dhabi, the capital of the United Arab Emirates. Themed "Rethinking Dispute Resolution in an Ever-Changing World", the conference featured...

The Regulation Amending the Regulation on the Technical Requirements for Alcohol and Alcoholic Beverage Facilities, Procedures and Principles Regarding their Establishment, Operation and Supervision and the Regulation Amending the Regulation on the Procedures and Principles Regarding the Domestic...

The Law Amending the Law on the Union of Chambers and Commodity Exchanges of Turkey and the Law on Chambers and Certain Laws and the Decree Law No. 640 (Omnibus Law) is published in the Official Gazette dated 01.02.2023 and numbered 32091. The Omnibus Law amended the Law No. 6585 on the...

The Covid-19 pandemic and recent technological developments have significantly accelerated the digital transformation of all sectors. However, this rapid change especially in the financial sector (mobile banking, e-commerce, contactless payments, etc.) has brought some risks along with making life extremely...

Smartwatches have undeniably revolutionized our lives in the past decade. Apart from their core function as a timepiece, these wearable computers packaged in the form of a watch enable us to answer incoming calls, reply to messages and skim through social media notifications in seconds. Their steady rechargeable...

Amazon, a world-famous company, is an e-commerce company that operates the world’s largest online shopping platform. In the backstage, Amazon is a data-driven company whose retail decisions are mostly driven by automated systems, fueled by the relevant market data. That being said, Amazon has a dual...

Transfer of shares is arguably the first legal transaction that comes to mind among the legal transactions regarding the shares of a capital company, and the most common transaction in practice. However, the shares of a capital company may also be subject to various transactions, other than share purchase...

The issue of proving damages in cases related to the excess damages is frequently subject to the examination and evaluation of both the Supreme Court and different chambers of the Court of Cassation. With its decision dated 29.03.2022 and numbered 2021/928 E. 2022/401 K., the Court of Cassation General...

The Resolution on the Approval of the Protocol between the Government of the Republic of Turkey and the Government of the Turkish Republic of Northern Cyprus on the Deployment of Energy Transmission Lines of Geçitkale Airport (Resolution No: 6647) entered into force through publication in the...

We are proud to announce that Canan Doksat has been promoted as Partner, as of January 1, 2023...

The Communiqué on Redetermination of Minimum Equity Amounts for Payment and Electronic Money Institutions (Communiqué) is published in the Official Gazette dated 28.01.2023 and numbered 32087. The Communiqué will enter into force on 30.06.2023. As per the Communiqué, the minimum equity amounts...

Through the promulgation of the Communiqué on the Implementation of Surveillance in Imports (Communiqué No: 2023/2) (Communiqué) published in the Official Gazette dated 27 January 2023 and No. 32086, the procedures and principles regarding the surveillance implementation of photovoltaic cells...

We are pleased to announce that Erdem & Erdem has been nominated in The Regional Firm of The Year - Europe category of Global Competition Review (GCR) Awards 2023.

We are proud to announce that Tolga Turan has joined Erdem & Erdem as Energy Advisor.

The Regulation on Administrative Sanctions of the Nuclear Regulatory Authority (Regulation) has entered into force through its publication in the Official Gazette dated 24 January 2023 and numbered 32083. Significant provisions introduced by the Regulation are summarized...

The German Act on Corporate Due Diligence Obligations in Supply Chains (Law), which was adopted by the German Federal Parliament (Bundestag) on June 11, 2021, entered into force on January 1, 2023. The Law will apply to German companies having at least 3,000 employees as of January 1, 2023...

Erdem & Erdem Founder and Senior Partner, the Chair of ICC Commercial Law and Practice Commission, member of ICC International Court of Arbitration and member of the ICC Institute of World Business Law, Prof. Dr. H. Ercüment Erdem gave an online lecture on M&A Arbitration at the Winter Academy...

Tax Procedure Law General Communiqué No. 546 (Communiqué) is published in the Official Gazette dated 18 January 2023 and No. 32077. Pursuant to the Communiqué, joint stock, limited liability company, unlimited liability company and limited partnership companies, cooperatives, Turkish branches of...

Energy Law Research Institute organized the Energy Litigation Congress in Ankara on Wednesday, 11.01.2023. Erdem & Erdem, Partner, Competition & Compliance Leader and Energy Law Research Institute Board Member Mert Karamustafaoğlu took part in the panel discussion on...

The Regulation Amending the Regulation on Technical Evaluation of Solar Energy Based Electricity Generation Applications (Regulation) published in the Official Gazette dated 17 January 2023 and numbered 32076 entered into force...

Law No. 7431 on Amendments to the Social Insurance and General Health Insurance Law, Certain Laws and Decree Law No. 375 (Law) was published in the Official Gazette dated January 13, 2023 and numbered 32072. With Article 7 of the Law, temporary Article 43 was added to the Decree Law No. 375 and...

Authors: Sevgi Ünsal Özden, Gülnur Çakmak, Melis Uslu

Through the promulgation of the Presidential Decision No. 6657 (Decision) on Resource Utilization Support Fund Deduction published in the Official Gazette dated January 10, 2023 and No. 32069, the Resource Utilization Support Fund rate for loans obtained by financial leasing companies from abroad is...

The Regulation Amending the Regulation on Private Healthcare Institutions Providing Outpatient Diagnosis and Treatment (Outpatient Diagnosis and Treatment Regulation) and the Regulation Amending the Regulation on Private Hospitals (Private Hospitals Regulation) entered into force through its publication in the...

Through the promulgation of relevant general communiqués published in the Official Gazette dated 30 December 2022 and No. 32059 (2^nd Repeated), certain tax limits to be applied during 2023 were determined. Accordingly, above-mentioned communiqués are...

The Communiqué on Environmental Impact Assessment Qualification Certificate (Communiqué) entered into force following its publication in the Official Gazette dated 31.12.2022 and numbered 32060. With the Communiqué, the Communiqué on Environmental Impact Assessment Qualification Certificate published in...

The goal of this article is to explain and compare asset backed and asset based sukuk structures and their application in Turkish leasing certificate issuance. Sukuk, an Arabic word which is the plural of Sakk, is the common name of sharia compliant bonds also referred to as Islamic bonds. However, the Arabic word...

The first regulations on electricity storage activities were included in Electricity Market Law No. 6446 dated 14/3/2013 ("EML" or "Law"). Subsequently, the Regulation on Storage Activities in the Electricity Market ("Storage Activities Regulation"), which implements the law, entered into force through its publication...

Law No. 6563 on the Regulation of Electronic Commerce (E-commerce Law or Law) has recently undergone a radical change in order to regulate the behavior of the players in the rapidly growing and developing e-commerce sector. The new regulations that came into force as of January 1, 2023 envisage important...

Provisional Article 32 was added to Banking Law numbered 5411 (“BL”) through Article 17 of the Law No. 7186 on Amendments to the Income Tax Law and Certain Laws ("Law No. 7186") in the Official Gazette on 19.07.2019. This law enables companies that are experiencing financial difficulties, but which are...

On 11 June 2021, the German Federal Parliament approved the German Supply Chain Due Diligence Act (Lieferkettensorgfaltsgesetz) (“Act”) which affects not only German entities but also their suppliers in foreign countries (including Turkish entities). The main focus of the Act, which entered into force on...

The Resolution of the President dated 23.11.2022 and numbered 6416 on the Approval of the Economic and Financial Cooperation Agreement - Additional Agreement - signed between the Government of the Republic of Turkey and the Government of the Turkish Republic of Northern Cyprus on...

Koc University Career Development Center and Koc University Law Club organized the "Careers in Law" event on 20 December - 6 January 2022. As part of the event, Erdem & Erdem Managing Associate and Tax Leader Canan Doksat, and Associate Helin Akbulut met with law students on...

Erdem & Erdem Partner and Competition & Compliance Leader Mert Karamustafaoğlu was the guest of the was a guest of the “Piyasa Hattı” program presented by Güzem Yıldız and broadcast on BloombergHT on Wednesday, December 21 at 14.00...

The Regulation on Electronic Intermediary Service Provider and Electronic Service Providers (Regulation) was published in the Official Gazette dated 29.12.2022 and numbered 32058.  With the Regulation, the procedures and principles regarding the implementation of the Law numbered 7416 Regarding...

The Law Amending the Electricity Market Law, Certain Laws and Decree Law No. 375 (Omnibus Law) entered into force following its publication in the Official Gazette dated 28.12.2022 and numbered 32057. The Omnibus Law introduced significant amendments to the Law on Privatization Practices numbered...

The Regulation on the Procedures and Principles Regarding the Exemption of Sports Clubs and Sports Joint Stock Companies from Debt Restrictions (Regulation) entered into force following its publication in...

The Presidential Decision numbered 6584 (Decision) on the entertainment tax rates regulated under Article 21 of the Law numbered 2464 on Municipal Revenues (Law) was published in the Official Gazette dated 21 December 2022 and numbered 32050...

As per the General Communiqué on Tax Procedure Law numbered 542 published in the Official Gazette dated 24 November 2022 and numbered 32023, the revaluation rate for 2022 was determined as 122.93%...

Authors: Canan Doksat, Beyza Günsel Sürücü

The Sports Law Summit organized by Yaşar University Law Society was held on Wednesday, December 14th between 12:30 - 18:00 at Yaşar University Main Conference Hall. Can Yıldız, one of our associates, took part as a speaker in the event where many topics such as arbitration in sports, overview...

Through the promulgation of the General Application Communiqué on Accommodation Tax (Communiqué), published in the Official Gazette dated 14 December 2022 and No. 32043, the procedures and principles for the implementation of the accommodation tax are regulated...

The ICC Turkish National Committee, in association with the ICC Entrepreneurship Center Istanbul Regional Office and the National Committee's Commercial Law and Practice Commission, hosted an online panel titled "International Sanctions, Risks, and Measures for Companies." on Tuesday, December 13...

Mining Regulation (Regulation) entered into force following its publication in the Official Gazette dated December 11, 2022 and numbered 32040. Through this regulation, the mining regulation published in the Official Gazette dated September 21, 2017 and numbered 30187 (Previous Regulation) has been abrogated... 

The Law Amending the Law on the Regulation of Tobacco, Tobacco Products and Alcohol Market and Certain Laws (Law) entered into force following its publication in the Official Gazette dated 10.12.2022 and numbered 32039. Significant amendments introduced by the Law are...

The Regulation on Organ Transplantation Services (Regulation) entered into force following its publication in the Official Gazette dated 09.12.2022 and numbered 32038. Significant amendments introduced by the Regulation are...

The 2022 ICC Institute Jurisprudential Debate on "Asymmetric Jurisdictional Clauses" were held on Thursday, December 8, 2022 at the ICC Headquarters in Paris...

Tilbe Birengel, one of Erdem & Erdem's senior associates, took part as a speaker in the panel titled "Reaching an Agreement with Entrepreneurs" as part of the "Angel's Day 2" event organized by helo! on Friday, November 30^th.

The Regulation Amending The Regulation on the Principals and Rules to be Implemented in Retail Trade (Regulation) entered into force following its publication in the Official Gazette dated 07.12.2022 and numbered 32036...

Didem Adlığ, one of our managing associates, and Defne Pırıldar, one of our associates, met with Istanbul Bilgi University students as part of the "Istanbul Bilgi University Faculty of Law 21st Career Days in Law" organized by the Bilgi Law Faculty Club. The event was held on Friday, December 2nd at santralistanbul...

Through the administrative letter dated 30.11.2022 and No. E-85593407-156.06 published by the Customs General Directorate of the Trade Ministry regarding the import transactions in which an invoice is issued in foreign currency but the payment is made, the issues that cause hesitation in practice in terms of...

Through the promulgation of President Decision No. 6434 (“Decision”) published in the Official Gazette dated 30th November 2022 and No. 32029, the procedures and principles regarding the companies subject to independent audit within the scope of Article 398 of the Turkish Commercial Code...

Today, in many employment contracts, the use of tools such as computers, corporate e-mail accounts, and telephones allocated by the employer is limited and the employer’s right to control them is regulated. The employer bases such a supervise and audit right on the management right regulated under Article 399...

In the context of arbitration practice, the principle of revision au fond means that the courts can not examine the merits of a dispute when reviewing an arbitral award. This principle is most commonly encountered in set aside and enforcement proceedings. An arbitral award is evidence of the parties’ willingness...

The Constitutional Court's decision dated 14.09.2022 and published in the Official Gazette dated 25.10.2022 and numbered 31994 ("the Constitutional Court Decision") examines whether the start of the application period related to the applicant’s request for appeal being from the date of the pronouncement of...

The Personal Data Protection Authority (“DPA”), on 16.06.2022, published the Draft Guidelines on Examination of Loyalty Programs within the Scope of Personal Data Protection Legislation (“Draft Guidelines”). The public has until 16.07.2022 to submit comments on them, and after these are evaluated...

Law No. 7420 on the Amendment of Income Tax Law and Certain Laws and Decrees (“Law No. 7420“) which was published in the Official Gazette dated 09.11.2022 introduced important amendments and regulations in the tax legislation. The addition of Article 32/B, entitled "Taxation in Capital Decrease" to...

On 21 December 2007, the Federal Council approved the draft revision of the Swiss Code of Obligations, which also includes amendments to company law. On 28 November 2014, the Federal Council referred the draft revision for consultation. Following extensive discussions and a long enactment process, the...

The Resolution of the President dated 19.10.2022 and numbered 6238 on the Approval of the Memorandum of Understanding Between the Government of the Republic of Turkiye and the Government of the Federal Republic of Nigeria on Cooperation in the Field of Energy was published in the Official Gazette...

The Law on Amendments to the Tax Procedure Law and Certain Laws (Omnibus Law) entered into force through its publication in the Official Gazette dated 26.11.2022 and numbered 32025. The Omnibus Law amended the Law No. 4059 on Financial Stability and Certain Regulations (Financial Stability Law)...

The Regulation (Amending Regulation) Amending the Regulation on Payment Services and Electronic Money Issuance and Payment Service Providers (Regulation) and the Communiqué on Information Systems of Payment and Electronic Money Institutions and Data Sharing Services of Payment Service...

On 28.10.2022, Banking Regulation and Supervision Agency published the Draft Regulation Amending the Regulation on Debit Cards and Credit Cards (Draft Regulation) on its website to receive market players’ comments...

Through the promulgation of President Decision No. 6417 (Decision) published in the Official Gazette dated November 24, 2022 and No. 32023, Special Consumption Tax (SCT) bases imposed on some private cars in the list (II) of the Special Consumption Tax Law No. 4760 have been changed...

Through the promulgation of Tax Procedural Code General Communiqué No.542 (Communiqué) published in the Official Gazette dated November 24, 2022 and No. 32023, the revaluation rate was determined as 122.93% for the year 2022...

Several changes have been made on Electricity Generation Regulation in the Electricity Market, the Regulation on Connection and System Usage in the Electricity Market, Electricity Market Balancing and Settlement Regulation, Regulation on Storage Activities in the Electricity Market, Electricity Grid...

The Constitutional Court (Court) Decision dated 21.09.2022 and with the application number 2019/25604 (Decision) has been published in the Official Gazette dated 15.11.2022 and numbered 32014. The Court ruled that the right to respect to privacy and freedom of communication were violated in...

“The New Order in Platform Services: Significant Market Power, Data and Much More” Webinar organized by Erdem & Erdem Law Office was held on Wednesday, November 19. Erdem & Erdem Partner and Competition and Compliance Leader Mert Karamustafaoğlu, moderated... 

Through the Communiqué on the Amendment Regarding the Communiqué on the Procedures and Principles Regarding the Application of Article 376 of the Turkish Commercial Code No. 6102 (“Communiqué”) published in the Official Gazette dated November 8^th, 2022 and No. 32007, essential amendments are...

Authors: Mert Karamustafaoğlu, Sevgi Ünsal Özden, Defne Pırıldar, Merve Demirkaya

“What awaits the Payment Industry?” webinar organized by Erdem & Erdem Law Office was held on Wednesday, October 26. Erdem & Erdem Partner and Competition and Compliance Leader Mert Karamustafaoğlu, moderated the webinar in which Ulaş Erdur, Deputy General Manager of Garanti BBVA...

The right to initiate a re-employment lawsuit, is one of the job security provisions, stipulated in favor of the employees, of Labor Law No. 4857 ("Labor Law"). This right, aims to prevent arbitrary termination of the employment contract or termination of the contract without a valid reason by an employer...

In September, the Central Bank of the Republic of Turkey (“CBRT”) published the Guide on Associating Business Models in the Field of Payments with Payment Service Types (“Guide”). The Guide includes explanations regarding payment services and electronic money issuance. An operating license is required...

The Turkish Commercial Code No. 6102 ("TCC") regulates maritime trade contracts under the fourth part of the fifth book of the Code. Among the types of contracts regulated in this section, the most frequently used contract in international maritime transport practice is the freight contract regulated under...

Under Turkish law, the term “limits of certainty” refers to monetary limits to the rights of appeal and cassation. While it is possible to appeal to a higher court against the decisions of the courts of the first instance and the courts of appeal where the amount of the claim or the value of the case is above these...

The Court of Cassation General Assembly of Civil Chambers and the Chambers of the Court of Cassation both issued opinions on whether a lawsuit filed for not due receivables should be dismissed with or without prejudice by the court on the grounds that the time of performance has not yet come, and whether the...

The right to make on-site inspections is one of the Competition Board’s (“Board”) most important tools for revealing whether Law No. 4054 on the Protection of Competition (“Law No. 4054”) has been violated. The effective use of this authority is quite important in terms of obtaining fruitful results from...

The German Competition Authority (“Bundeskartellamt”) had previously found Meta (formerly Facebook) responsible for abusing its dominant position in the social network market by collecting and processing the personal data of its users without their consent and imposed measures on Meta and its associated...

The Resolution of the President dated 26.09.2022 and numbered 6090 on the Approval of the Annexed Amendment Protocol signed by the Exchange of Letters dated 12.08.2022 and 31.08.2022 between the Government of the Republic of Turkey and the European Commission on the Amendment to...

The German-Turkish Chamber of Commerce and Industry organized a webinar titled "Wealth Amnesty: Significant Tax Savings Opportunity" on Thursday, October 20, 2022. Canan Doksat, Managing Associate and Tax Leader at Erdem & Erdem, and Betül Gencer, Associate at LW.P Lüders Warneboldt...

The Regulation on the Collection, Storage and Sharing of Insurance Data (Regulation) entered into force through publication in the Official Gazette dated 18.10.2022 and numbered 31987. Some of the important provisions introduced by the Regulation are summarized...

Dealing With Force Majeure Events in International Trade Conference took place at the International Institute for the Unification of Private Law (Unidroit), Rome on October 14, 2022. In the last years, Force Majeure and Hardship have become “hot issues” for business, and many companies found...

The Law on the Amendment to the Press Law and Certain Laws (Law) is published in the Official Gazette dated 18.10.2022 and numbered 31987. The Law amended a number of laws, most notably Press Law numbered 5187 (Press Law), Law on the Regulation of Internet Publications and Combating...

Istanbul Arbitration Week 2022 (ISTAW 2022) was organized by Energy Dispute Arbitration Centre EDAC at Sait Halim Paşa Mansion between October 10-14, 2022. The event was attended by 28 supporting organizations, including the most successful arbitration centers, organizations such as...

Through the Expenditure Taxes General Communiqué Serial No. 92, ("Communiqué") published in the Official Gazette dated 11th October 2022 and no. 31980, banking and insurance transactions tax ("BITT") regulations are introduced regarding the taxation of the money received by insurance companies...

The Regulation on Private Healthcare Institutions Providing Oral and Dental Health Services, the Regulation Amending the Regulation on Private Healthcare Institutions Providing Outpatient Diagnosis and Treatment and the Regulation Amending the Regulation on Private Hospitals entered into force through...

Asian International Arbitration Center (AIAC) is hosting "Asia Alternative Dispute Resolution Week 2022" in Malaysia from October 3 to October 8, 2022. This year’s event is conducted in a hybrid setting for 6-days: Live at Bangunan Sulaiman and virtually through the Brella platform...

Erdem & Erdem Founder and Senior Partner, the Chair of ICC Commercial Law and Practice Commission, member of ICC International Court of Arbitration and member of the ICC Institute of World Business Law, Prof. Dr. H. Ercüment Erdem chaired the ICC Institute Advanced Level Training on Drafting...

The Regulation on Amending the Regulation on Unlicensed Electricity Production in the Electricity Market entered into force following its publication in the Official Gazette with the number 31970 on October 1, 2022...

“Harese” is an interesting Arabic word. There is a thorn that camels love very much in the desert. The camel eats the thorn with great greed. So much so that, its mouth bleeds as it eats, but it doesn't stop eating. The taste of the thorn is mixed with the salty taste of its own blood. This mixed taste drives the camel...

Although the general principle in the law of contracts is freedom of contract or, in other words, freedom of will, the parties’ wills are not completely free in the case of exemption agreements. The validity of these agreements is limited by the mandatory provisions of the Turkish Code of Obligations...

Incoterms are a set of rules introduced by the International Chamber of Commerce (ICC) to explain the commercial terms that are widely used in international trade. The purpose of Incoterms rules is to facilitate and expedite international trade in a safe and secure manner...

Turkey’s leading pay television service provider, Krea İçerik Hizmetleri ve Prodüksiyon A.Ş. (“Digiturk”), is frequently the subject of complaints made to the Competition Authority (“Authority”). In fact, the Competition Board (“Board”) issues a new decision about Digiturk almost every year. In these decisions...

Banks process large volumes of personal data in their daily operations. In order to deal with this sensitive information, the Turkish Personal Data Protection Authority, in cooperation with the Banks Association of Turkey, published Good Practice Guidelines on Personal Data Protection in the Banking...

The Banking Regulation and Supervision Agency (“BRSA”) published the Circular on the Disclosure of Confidential Information Regulation No.2022/1 (“Circular”) on 11.08.2022. The purpose of this Circular is to elaborate on concepts and procedures as outlined in the Regulation on Disclosure of...

The Resolution of the President dated 15.09.2022 and numbered 6080 on the Approval of the Memorandum of Understanding About Implementation of the Multilateral Tax Program Between the Government of the Republic of Turkey and the Organization for Economic Cooperation and Development at...

The Presidential Circular numbered 2022/15 on Investment Program Preparations for the 2023-2025 Period is published in the Official Gazette dated 14.09.2022 and numbered 31953 (bis)...

The Regulation on the Procedures and Principles Regarding the Merger of Sports Clubs and Transfer of Assets entered into force through publication in the Official Gazette dated 14.09.2022 and numbered 31953...

The Regulation on the Procedures and Principles Regarding the Electronic Seal (Regulation) entered into force through its publication in the Official Gazette dated 14.09.2022 and numbered 31953. Main novelties brought by the Regulation are...

The Regulation on Books and Records to be kept by the Sports Clubs (Regulation) entered into force through its publication in the Official Gazette dated 07.09.2022 and numbered 31946...

The procedural rules on mass claims within European Union (“EU”) Member States is not uniform. To improve the position of consumers who might wish to make such claims, the European Parliament passed the Collective Redress Directive (“Directive”). The impact of the Directive is expected to...

The Regulation Concerning Unlicensed Electricity Generation in the Electricity Market (“Regulation”) has been amended by the amending regulation which was published in the Official Gazette numbered 31920 and dated 11.08.2022 (“Amending Regulation”). The Amending Regulation has introduced...

Law No. 7405 on Sports Clubs and Sports Federations ("Law on Sports"), which entered into force after being published in the Official Gazette dated 26 April 2022 and numbered 31821, introduced many new provisions on clubs and federations. One of the most significant and noteworthy of these provisions...

Free Zones are zones that are established to promote export-oriented investment and production, accelerate foreign direct investment and technology access, direct enterprises towards export, and develop international trade. There are many tax advantages provided to taxpayers operating in...

Since social media has turned into a modern mass communication tool, the concepts of advertising and marketing have been brought to a new dimension. Influencers, who promote various products and services by "influencing" their audience through social media, are driving the next generation of...

The Resolution of the President dated 20.07.2022 and numbered 5801 on the Determination of the Default Interest Rate under the First Paragraph of Article 51 of the Law numbered 6183 on the Collection Procedure of Public Receivables as 2.5% to be Applied Separately for Each Month, was published...

The Regulation on Transport Deal Organizer (Regulation) entered into force through its publication in the Official Gazette dated 27.08.2022 and numbered 31936. The Regulation repealed the Freight Forwarders Regulation published in the Official Gazette...

The Regulation (Amending Regulation) Amending the Regulation on Workplace Opening and Operation Licenses (Regulation) has entered into force through publication in the Official Gazette dated 25.08.2022 and numbered 31934...

Regulation on the Amendment to the Regulation on Distance Agreements (Amending Regulation) was published in the Official Gazette dated 23.08.2022 and numbered 31932...

The Communiqué Amending the Communiqué on Maintenance of Turkish Lira-Denominated Securities for Foreign Currency Liabilities and the Communiqué Amending the Communiqué on Required Reserves (together referred to as “Amendment Communiqués”) were published...

The Resolution of the President numbered 5973 and dated 17.08.2022 on Export Aids (Resolution) entered into force through its publication in the Official Gazette...

The Regulation (Amending Regulation) Amending the Regulation on Shopping Malls (Regulation) has entered into force through publication in the Official Gazette dated 18.08.2022 and numbered 31927...

The Regulation (Amending Regulation) Amending the Regulation on Control of Medical Waste (Regulation) has entered into force through publication in the Official Gazette...

The Constitutional Court Decision dated 01.06.2022 and numbered 2021/85 E. 2022/60 K. (Decision) has been published in the Official Gazette dated 18.08.2022 and numbered 31927. With the Decision, the Presidential Decree dated 29.06.2021 and numbered 74 Regarding Price Stability Committee...

The Constitutional Court Decision dated 01.06.2022 and numbered 2020/94 E. 2022/61 K. (Decision) has been published in the Official Gazette dated 18.08.2022 and numbered 31927. With the Decision, the Presidential Decree dated 13.10.2020 and numbered 68 Regarding Executive Committee...

On 11.08.2022 The Circular No. 2022/1 Explaining the Application of The Regulation for Disclosure of Confidential Information (The Circular) has been published by the Banking Regulation and Supervision Agency (BRSA). The Circular was published in order to shed light on the...

The Regulation (“Amending Regulation”) Amending the Regulation on Unlicensed Electricity Generation in Electricity Market ("Regulation") and Energy Market Regulatory Board’s decision dated 04.08.2022 numbered 11098 (“Decision”) have been published in the Official Gazette dated 11.08.2022 and...

Acıbadem Healthcare Group, one of the academic health institutions that is referenced in the world which created a model for Turkey serving in 5 countries, namely Turkey, Macedonia, Bulgaria, Serbia and the Netherlands, acquired Private Orthopedia Hospital...