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...

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...

On 05.08.2022, the Personal Data Protection Authority (“Authority”), published Guideline on Banking Sector Good Practices Regarding the Personal Data Protection (“Guideline”). The purpose of the Guideline is guiding data controller banks regarding the personal data processing activities carried out...

Through the promulgation of General Communiqué Serial No. 1 on Bringing Some Assets to the Economy (“Wealth Amnesty Communiqué”) which is published in the Official Gazette dated 9th August 2022 and no. 31918, the principles regarding the implementation of Wealth Amnesty which is...

The Constitutional Court Decision dated 20.07.2022 and numbered 2022/22 E. 2022/92 K. has been published in the Official Gazette dated 02.08.2022 and numbered 31911...

The Regulation on Environmental Impact Assessment entered into force through publication in the Official Gazette dated 29.07.2022 and numbered 31907...

As a rule, rights and obligations arising from an agreement have legal consequences only between the creditor and the debtor which are parties to the agreement. This principle is referred to as "privity of contract." In general, contracts for the benefit of third parties, where the fulfillment of an...

The rules of e-commerce, which grow and develop with the digitalizing world, are changing. E-commerce has become the driving force of the digital economy. However, considering the growth rate of e-commerce and the transformation it has undergone in a short time, it is obvious that some...

In February 2020, the European Commission (“Commission”) published “A European Strategy for Data” as part of a wider drive concerning digital transformation and policy. Through this communication, the European Union (“EU”), defining itself as having a leading role in the data economy...

In general terms, the amendment of pleading is accepted as an exception to the prohibition of expanding and amending claims and defenses. With the amendment of pleading, the parties can partially or completely correct or amend the procedural actions that they could not perform due to the prohibition...

The French Competition Authority (Autorité de la Concurrence), within the scope of the competition law proceeding initiated upon the complaint of Criteo SA (“Criteo”), accepted the commitments proposed by Meta Platforms Inc., Meta Platforms Ireland Ltd., and Facebook France...

While the scope of Competition Board’s (“Board”) power to conduct on-site inspections has increased with the introduction of Guidelines on Examination of Digital Data during On-site Inspections (“Guidelines”), nowadays the amount of monetary fines imposed on undertakings continue to...

Decision dated 27.06.2022 and numbered 5751 on the Ratification of the Fund Grant Agreement signed between Republic of Turkey Ministry of Labor and Social Security and International Bank for Reconstruction and Development, on 05.05.2022...

Third session of the Arbitration from Scratch series, organized by Istanbul Very Young Arbitration Practitioners (IST-VYAP), was held on Friday, July 22 at Loft Plaza. with the participation of Mehveş Erdem...

Through the promulgation of Presidential Decision No. 5806 (“Decision”), published in the Official Gazette dated 21st July 2022 and No. 31899...

Authors: Mert Karamustafaoğlu, Sevgi Ünsal Özden

On 14.07.2022, the European Parliament Research Service published a briefing (“Briefing”) for the impact assessment (“IA”) of the regulation of the European Parliament and the European Council on harmonised rules on fair access to and use of data (“Data Act”), submitted on 23.02.2022...

The Advanced Issues in Private and Commercial Law Summer School, organised by the Kadir Has University Faculty of Law and aimed at presenting the perspectives of well-known experts and practitioners on private and commercial law...

The Law numbered 7416 Regarding the Amendment to the Law on Regulation of Electronic Commerce (“Law No. 7416”) was published in the Official Gazette dated 07.07.2022 and numbered 31889...

Through Law No. 7417 on the Amendment to the Civil Servants Law, Certain Laws and Decree No. 375 ("Law No. 7417") published in the Official Gazette dated 5th July 2022 and No. 31887, a significant amendment is introduced for the application of interest rate deduction resulting from cash capital increase...

Through the Law No. 7417 on the Amendment to the Civil Servants Law, Certain Laws and Decree No. 375 ("Law No. 7417") which is published in the Official Gazette dated 5th July 2022 and No. 31887, significant amendments within Law No. 6183 on the Procedure for the Collection of Public Receivables...

Through the promulgation of the Law No. 7417 on the Amendment to the Civil Servants Law, Certain Laws and Decree No. 375 ("Law No. 7417") which is published in the Official Gazette dated 5^th July 2022 and no. 31887, new Wealth Amnesty has been introduced.

The relationship between the author and the product of their creative activity is protected by moral rights. The moral rights of the author set out in the Intellectual and Artistic Works Act numbered 5846 (“IAWA”) include the authority to disclose the work to the public, the authority to designate the name...

Under Turkish law, parties may agree on the settlement of disputes that have arisen or may arise, regarding the rights that they can freely dispose of, by arbitration. However, disputes which are not subject to the will of parties, such as the disputes relating to in rem rights of immovables, bankruptcy law...

The Court of Cassation has evaluated the criteria related to the similarity of the trademark in all of these decisions, and while showing how the criteria will be applied, it has also helped to determine the boundaries of the term “likelihood of confusion”. In this article, four different 2022 decisions...

The dissolution of a company is a specific type of dissolution, which results in the cancellation of the legal personality which was gained by registration at incorporation. The specific proceeding which leads to the dissolution, and thus, the termination of a company upon the constitutive decision...

The Regulation on Green Certificate for Buildings and Developments ("Regulation"), which was prepared for the purpose of reducing the negative impacts of buildings and developments on the environment by using natural resources and energy efficiently, entered into force through publication in...

Companies in which shares or authority to manage is held by members of a family are considered to be “family businesses”. Family members can hold shares that control the company, as well as retain management authority. Having a family business means opportunity, security and income for...

The Resolution of the President dated 23.05.2022 and numbered 5596 on the Ratification of the Economic and Financial Cooperation Agreement between the Government of the Republic of Turkey and the Government of the Turkish Republic of Northern Cyprus was published in the Official Gazette dated...

The General Court of the European Union ("General Court") annulled the decision of the European Commission ("Commission"), which found that Qualcomm, the world's largest LTE baseband chipset (“chipset”) supplier, had abused its dominant position in the said market and imposed a fine of €997 million...

Through the promulgation of the Regulation on Amendment to Regulation on the Procedures and Principles to be Applied in Tax Inspections published in the Official Gazette dated 28^th June 2022 and no. 31880, significant amendments were made to the rules applied in tax inspections...

Global Arbitration Review (GAR) hosted its eighth annual GAR Live: Istanbul Conference on June 23, 2022, at Ciragan Palace Kempinski...

Through the promulgation of the President Decision No. 5752 published in the Official Gazette dated 28^th June 2022 and no. 31880 (“Decision”), the period of the application of the low withholding rates on the interest obtained from Turkish Lira...

The Regulation on Processing of Land Registry and Cadastre Data and Transactions Held in Electronic Environment regulating the procedure and principles regarding the process of the data in the Central Database of the General Directorate of Land Registry and the transactions held in electronic...

Following the press release of the Ministry of Treasury and Finance, on 09.06.2022 the Capital Markets Board announced its Measures to Strengthen Financial Stability to establish the "Commodity Market" and initiate its internal processes regarding issuance of gold certificates...

Following the publication of the Official Gazette dated 11.06.2022 and numbered 31863, The Law Amending the Attorneyship Law and Turkish Code of Obligations (“The Law”) has been entered into force...

Turkish Competition Board (“The Board”), with its decision numbered 22-24/385-M has decided to initiate an investigation against DSM Grup Danışmanlık İletişim ve Satış Ticaret A.Ş. (“Trendyol”)...

The sixth of the "Current Problems in Arbitration" webinar series was held online on June 3, 2022, in cooperation with the Turkish Arbitration Academy and Istanbul Chamber of Commerce Arbitration and Mediation Center (ITOTAM). The event was consisted two sessions and lasted around 3 hours...

You can watch the recording of "Current Problems in Arbitration - IV" webinar here... (in Turkish)

Law No. 7407 on Amendments to the Banking Law, Certain Laws and Decree Law No. 655 ("Law") published in the Official Gazette dated 28.05.2022 and numbered 31849 introduced various amendments to the banking legislation. The amendments are briefly summarized...

Through the promulgation of Law No. 7407 Amending the Banking Law, Some Laws and the Decree Law No. 655 (“Law No. 7407”), published in the Official Gazette dated 28^th May 2022 and No. 31849, corporate tax exemption envisaged for incomes gained through currency protected TRY deposit accounts...

Terralex, one of the world's leading legal networks, hosted a webinar titled "An Overview and Comparison of the Leading Arbitral Bodies Around the World" on May 17, 2022...

The Regulation Amending the Regulation on the Allocation of Public Immovables for Tourism Investments (the “Amendment”) has entered into force through publication in the Official Gazette dated 14 May 2022 and numbered 31835...

European Commission adopted the new Vertical Block Exemption Regulation (“VBER”) accompanied by the New Vertical Guidelines on May 10, 2022. The new rules are simpler and clearer, which enables companies to assess the compatibility of...

Erdem & Erdem Partner, Competition and Compliance Leader Mert Karamustafaoğlu and Managing Associate Ecem Süsoy Uygun; were guest at the webinar titled “What are the outcomes of the Competition Authority’s E-Marketplace Platforms Industry Review Report?”, organized by...

The Partnership Law Certificate Program organized by Koç University Faculty of Law was held online 27th of April, 2022 between 13.00-17:00...

With Law No. 7343 on the Amendment of the Execution and Bankruptcy Law and Certain Laws, which entered into force through its publication in the Official Gazette dated 30.11.2021 and numbered 31675 and which was publicly referred to as the “5^th Judicial Package”...

On 4 September 2020, a research project “Does a Right to a Physical Hearing Exist in International Arbitration?” was launched by an International Council for Commercial Arbitration (“ICCA”) taskforce. Due to the Covid-19 pandemic, many arbitration hearings were held online. Many institutional rules...

Dubai International Arbitration Center amended its Arbitration Rules on 25 February 2022. The 2022 Arbitration Rules were published on 2 March 2022 and came into effect on 21 March 2022. The Rules will be applied to arbitrations that are filed after 21 March 2022; unless parties agree otherwise...

In the aftermath of the Achmea decision, controversies on intra-EU arbitrations continue. Most recently, the Paris Court of Appeal has annulled two arbitral awards rendered against Poland. Meanwhile, the Higher Regional Court of Berlin has refused to declare that an Irish investor’s ICSID claim...

Through the promulgation of Law No. 7394 on the Amendments of Treasury-Owned Immovable Property Valuation and the Value Added Tax Law and on the Amendments of Certain Other Laws and Decrees, published in the Official Gazette dated 15 April 2022 and No. 31810, significant amendments...

The dominant position of the employer due to the nature of the employment relationship, the dependency of the employee, and the obligation to work constitute the basis of the employer's right to manage. The right to manage refers to the right to regulate the conduct of the work and the behavior...

The Constitutional Court, in its decision dated 14.09.2021 on application no. 2018/25663 (“Decision"), found that applicant Cahide Demir’s right to property was violated on the ground that the mortgage on her real estate, established to secure a third party’s debt, had not been released by the...

The Resolution of the President dated 23.04.2022 and numbered 5520 on the Approval of the Agreement between the Government of the Republic of Turkey and the Government of the Republic of Cote D’Ivoire Concerning the Reciprocal Promotion and Protection of Investments...

The training program organized by ICC Turkey National Committee, titled “INCOTERMS® 2020 and the Relationship of Payment Methods with Delivery Methods” was held online between 10.00 – 15.30, on April 27th, 2022. INCOTERMS® 2020 sets the universally...

The ELSA Ankara Summit, which is held every year by ELSA Ankara, took place on Sunday, April 24, 2022, at the Excellence Inn Hotel Ankara in four sessions...

The "Competition Law Contest", organized with the cooperation of ELSA Adana and ELSA Istanbul, was held in Istanbul on 23-24 April 2022...

Authors: Mert Karamustafaoğlu, Sevgi Ünsal Özden

Following the publication of The Communiqué No. 2022-32/66 Amending the Communiqué No. 2008-32/34 (“Communiqué No. 2008-32/34”) regarding the Decree No:32 on Protection of the Value of Turkish Currency (“Communiqué No. 2022-32/66”) in the Official Gazette...

Through the promulgation of Law No. 7394 on the Amendments of Treasury-Owned Immovable Property Valuation and the Value Added Tax Law and on the Amendments of Certain Other Laws and Decrees (“Law No. 7394”), published in the Official Gazette...

The Communiqué No. 2022-32/66 Amending the Communiqué No. 2008-32/34 (“Communiqué”) regarding the Decree No:32 on Protection of the Value of Turkish Currency was published in the Official Gazette dated 19 April 2022 and No. 31814...

Mert Karamustafaoğlu, Partner, Competition and Compliance Leader of Erdem & Erdem was the guest speaker of the ‘Vizör’ program on CNN Türk on March 31, 2022, on the problems in food supply that deepened after the global epidemic and the Ukraine-Russia war...

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) 2022 results. Erdem & Erdem has been...

The 2nd Bucerius Law School Conference on Investment Law and Arbitration, with Dr. Yas Banifatemi and Professor Dr. Kaj Hobér as Honorary Patrons, was held on April 2 and 3, 2022, at Bucerius Law School, Hamburg, Germany. The conference was a part of...

Authors: Alper Uzun, Mehveş Erdem, Duygu Öner Ayçiçek

With the Charging Service Regulation (“Regulation”) which has been published in the Official Gazette dated 2nd April 2022 and No. 31797, the procedures and principles regarding the establishment of charging units and stations where electrical...

The hub and spoke cartel, which is a relatively new type of violation in terms of Turkish competition law, is defined as the indirect exchange of information between two independent undertakings which are horizontal competitors on the supplier or retailer level, through another undertaking...

In response to the rapid increase of use of electric vehicles, legislative and regulatory initiatives have been taken to create a legal framework for electric vehicle charging services. On 21.12.2021, Electricity Market Act numbered 6446 (“EMA”) was amended to introduce charging services...

The settlement mechanism has only recently been introduced to Turkish competition law practice. It entered into force with the amendment made to the Law on the Protection of Competition (“Law”) numbered 4054 on 16.06.2020, and has been in effect for less than two years. In this relatively...

The Sports Clubs and Sports Federations Law (“Sports Law”), published in the Official Gazette dated 26.04.2022 and numbered 31821, introduced detailed regulations on sports clubs, sports joint stock companies, and sports federations. The Sports Law, which entered into force on the date of...

Due to their increasing share in the economy and rapid growth rate, e-marketplace platforms have come under the increasing scrutiny of the Turkish Competition Authority (“Authority”) as well as many competition authorities around the world...

Pursuant to the Law on the Amendment of the Consumer Protection Law and the Property Ownership Law published in the Official Gazette dated April 1, 2022 and numbered 31796, various amendments were made to Consumer Protection Law No. 6502...

In the third week session of the program, held on March 24, 2022, Erdem & Erdem Law Firm Partner and Competition & Compliance Leader Mert Karamustafaoğlu and Senior Associate Merve Bakırcı evaluated the commitment mechanism...

Authors: Prof. Dr. H. Ercüment Erdem, Özgür Kocabaşoğlu, Didem Adlığ

Authors: Prof. Dr. H. Ercüment Erdem, Tuna Çolgar, Melissa Balıkçı Sezen

The 'Career Days in Law' event, organized for the twentieth time by the Istanbul Bilgi University Faculty of Law Club, took place both face-to-face at Bilgi University SantralIstanbul campus and online on March 10-11 and 17-18, 2022...

Canan Doksat has been appointed as the chair of Young IFA Turkey on 05.03.2022. We congratulate Canan Doksat and we are delighted to share this news with you...

The Nuclear Regulation Law No. 7381 (“The Law”) has entered into force through its publication in the Official Gazette dated 08.03.2022 and numbered 31772. The Law introduces many rules and regulations to minimize the risks that can be result from the nuclear energy...

Pursuant to the Communiqué Amending Communiqué Concerning the Mergers and Acquisitions Calling for the Authorization of the Competition Board (“Amending Communiqué”) published in the Official Gazette...

The '10th Law Students Forum,' organized by Bilkent University Career in Law Club, took place online between February 21 and 27, 2022...

Pursuant to the Amendment Communiqué Concerning the Mergers and Acquisitions Requiring the Competition Board’s Approval (“Amending Communiqué”) published in the Official Gazette dated March 4th, 2022 and numbered 31768, certain amendments have been introduced...

A non-compete covenant prohibits employees from competing on their own or a third party's behalf in the same field of activity as their former employer for a certain period of time after the termination of an employment contract. By the execution of a non-compete covenant...

In recent years, many new business models have emerged and traditional business models have changed greatly, within the increasing digitalization in the economy. Along with said change, challenges arose for taxing the international business income of...

On 7 March 2022, a press release was published on the official website of the Federation Internationale de Football Association (FIFA) regarding the amendments made to the Regulations on the Status and Transfer of Players (RSTP) due to the extraordinary...

The Competition Board (“Board”) has recently published a reasoned decision in which it evaluated BSH Ev Aletleri Sanayi ve Ticaret A.Ş.’s (“BSH”) request for negative clearance or exemption with regard to its practice of prohibiting authorized dealers from making sales through online marketplaces...

In a decision dated 29.09.2021 with application number 2018/357 (“Decision”), the Constitutional Court decided by a large majority that the applicant's right to property was violated due to the fact that the immovables expropriated for the purpose of mass housing construction...

Following Russian Federation’s invasion of Ukraine, many countries, especially the European Union member states, the United States, United Kingdom, Japan and Canada, agreed on imposing heavy economic sanctions against Russia...

We are proud to announce that Didem Adlığ joined Erdem & Erdem as Managing Associate.

The Regulation on Process and Protection of Personal Data by the Social Security Institution (“Regulation”) entered into force through its publication in the Official Gazette dated 19.02.2022 and numbered 31755.

Article 38/2 of the Capital Movements Circular published by the Turkish Central Bank on 02.05.2018 (“Circular”) has been amended with the letter of Ministry of Treasury and Finance dated 08.02.2022 and numbered...

The Communiqué (III-42.1) on Remote Identification Methods to be Used by Intermediary Institutions and Portfolio Management Companies and...

The Regulation on the Provision of Remote Health Services (“Tele-Med Regulation”), which was prepared to serve the provision of health services independently of place and geography and based on modern medical technology, entered into force through...

Regulation on Environmentally Responsible Design of Energy-Related Products entered into force through its publication in the Official Gazette dated 05.02.2022 and numbered 31741. The Regulation...

Following the publication of the Official Gazette dated 04.02.2022 and numbered 31740, the Banking Regulatory and Supervisory Authority (“BRSA”) made amendments regarding the banking sector which...

Through the Regulation on the Enforcement of International Workforce Law published in the Official Gazette dated 02.02.2022 and numbered 31738, the Regulation on the Enforcement of the Law on Work Permits of Foreigners has been superseded...

Through the promulgation of Law No. 7352 Amending Tax Procedure Law and the Corporate Tax Law (“Law No. 7352”), published in the Official Gazette dated 29th January 2022...

Pursuant to the Regulation Amending the Regulation on Commercial Advertising and Unfair Commercial Practices (“Amending Regulation”) published in the Official Gazette dated 01.02.2022 and numbered 31737...

Shahmaran, a Mesopotamian myth, is believed to take place in Tarsus. According to the myth, the shah of snakes is the immortal and omniscient "Shahmaran." Shahmaran is described as a beautiful woman living in her cave with her snakes...

Through the promulgation of the Law No. 7351, published in the Official Gazette dated 22.01.2022 and no. 31727, essential amendments are introduced to Turkish tax legislation. Apart from the tax amendments, a new provision has been added to...

Under Turkish law, the legal remedy that can be applied against arbitral awards is an annulment action. Law on International Arbitration No. 4686 (“IAL”) finds its application area in arbitration proceedings where Turkey is the place of arbitration...

The concept of disguised profit transfer in joint stock companies, in its broadest meaning, covers the transfer of company assets to related parties and may occur in different ways. This concept is regulated in detail under capital markets legislation...

The right to property, which is one of the concepts and values underlying the liberal economic and legal system, regulates the ownership relationship between the person and goods. The scope of the term “goods,” which is the subject of the concept of property...

The Regulation on Protection and Processing of Personal Data by the Social Security Institution (the “Regulation”), the purpose of which is to determine the procedures and principles for processing data obtained within the scope of the duties and authority of...

The Personal Information Protection Law of the People’s Republic of China (“PIPL”) passed at the 30^th meeting of the Standing Committee of the 13^th National People’s Congress on 20 August 2021 and entered into force on 1 November 2021 as per Article 74...

We are proud of announcing that Sevgi Ünsal Özden was promoted to Managing Associate, as of January 1, 2022.

We are proud of announcing that Ecem Süsoy Uygun was promoted to Managing Associate, as of January 1, 2022.

The Communiqué Regarding Issuance of Secured Capital Market Instruments (II-31/B.1) (“Communiqué”) entered into force through its publication in the Official Gazette dated 26.01.2022 and numbered 31731...

Through the announcement of Circular No. VUK-138/2022-1 and dated 25 January 2022 (“Circular”) made by the Turkish Revenue Administration, it has been announced that the deadline for the submission of tax returns regarding...

Pursuant to the Communiqué on the Re-determination of Minimum Equity Amounts of Payment and Electronic Money Institutions (“Communiqué”) which is published in the Official Gazette dated 22.01.2022 and numbered...

During the COVID-19 pandemic, competitive concerns about the pricing behavior of chain markets, manufacturers, and wholesalers engaged in the retail trade of food and cleaning supplies led to an investigation by...

In today's world, there is no doubt that data has become one of the most valuable assets and resources for some companies. The ability to collect, store, process, and analyze data on a large scale has dramatically changed...

It is well known that following a decision of the Court of Justice of the European Union, problems arose related to arbitration of intra-EU disputes, and particularly arbitration under the Energy Charter Treaty...

The use of general terms and conditions is a commercial reality not only in consumer transactions but also in commercial transactions in certain industries such as automotive, banking, insurance, telecommunications and energy...

The Capital Markets Board’s (“Board”) long-awaited Communiqué on Crowdfunding No. III - 35/A.2 (“Communiqué”) entered into force through its publication in the Official Gazette numbered 31641 and dated 27 October 2021...

Authors: Mert Karamustafaoğlu, Can Yıldız

The European Council (Council) adopted the 9th Sanction Package (Sanction Package) to be applied against Russian Federation on 16.12.2022. The most notable sanctions imposed by the European Union (EU) against the Russian Federation under the Sanctions Package are summarized...

Att. Piraye Erdem, the Founding and Managing Partner of Erdem & Erdem, was appointed as Chairperson of the Board of Directors of the Health and Education Foundation (SEV), one of Turkey's oldest and well-established institutions. Att. Erdem took over the position of Chairperson of the Board of Directors...

‘Career Tailoring’ a career day event organized by Bilkent University Law Community, took place online between 3-5 December 2021...

Arbitration in corporate law contains controversial elements in many respects, especially the issue of arbitrability. Even in legal systems where these disputes are considered to be arbitrable, uncertainties remain on whether an arbitration clause can be included in the articles of...

The possibility of appellate review of questions of fact, as well as of law, was introduced into Turkish law with an amendment made in the abrogated Civil Procedure Code No. 1086, through Law No. 5239 dated 26.09.2004. However, the Regional Courts of Appeal, which are the courts...

When the past decisions and the recent decisions of the Competition Board (“Board”) are examined, a significant increase can be observed in the number of decisions where the Board found hindrance or obstruction of on-site inspections. This situation shows that...

Social media has emerged with the development of the digital world and internet technology and has greatly influenced the world today. One of the main categories of actors in social media is social media content producers. These people earn through social networks in...

Share subscription agreements, which are commonly encountered in start-up investments, set out the terms and conditions of an investor’s participation in a company as a shareholder by subscribing the new shares issued in a capital increase...

The European Commission began investigating the collusive behavior of Credit Suisse, UBS, Barclays, RBS, and HSBC in the Foreign Exchange (forex) spot trading market in 2019. With the recent press release dated 02.12.2021, the Commission announced that the case is now closed...

The electronic signature, which has the same legal consequences as wet signatures if it meets certain conditions, has taken its place in many legal systems and has enhanced commercial life. Although there are various types and applications in different legal systems...

Mert Karamustafaoğlu, one of Erdem & Erdem’s Partner and Competition & Compliance Leader gave a training on an online event titled " Understanding Competition Law and Current Developments in Competition Law" organized by Aegean Exporters' Associations on Thursday, November 18th...

German Supply Chain Due Diligence Act (Lieferkettensorgfaltsgesetz) (“Act”) was approved on 11 June 2021 by the German Federal Parliament.

Tax Amendments Introduced Through the Law No. 7341

Significant Amendments are Introduced to the Block Exemption Communiqué on Vertical Agreements

Digitalization, in particular, necessitates the rewriting of competition law rules. Competition law is at the center all questions regarding e-commerce and digital platforms. The aforementioned platforms, which have become prominent due to innovations in...

Recently, the requirements of unquantified debt lawsuits have been subjected to the examination and review of the Court of Cassation. The Court of Cassation General Assembly of Civil Chambers, in its decision dated 07.07.2021 and numbered 2021/485 E. 2021/971 K. (“Decision”), examined whether...

Communiqué on Crowdfunding Has Been Published

The Law No. 7338 on the Amendment of Tax Procedural Law and Certain Other Laws Has Entered Into Force

The Rate Regarding the Working Time Spent Outside the Region and Centers by Personnel Working in Technology Development Zones and R&D or Design Centers Has Been Amended

The "Arbitration in the Resolution of Corporate Law Disputes" conference, which is organized in collaboration with the Republic of Turkey Ministry of Commerce General Directorate of Domestic Trade, Istanbul Chamber of Commerce Registry Office, and Istanbul Chamber of Commerce...

Amendments to the Communiqué on Decree No. 32 on the Protection of the Value of Turkish Currency (No: 2018-32/45)

The Amendments on the Circular on Capital Movements

The Period of the Application of Low Withholding Rates on Deposit Interest and Dividends Paid by Participation Banks are Extended

Mortgage covered bonds are one of today’s most common structured finance products. Although they have a prominent presence in the marketplace today, these bonds have historical roots in the Pfandbrief of 18th century Prussia. In the aftermath of the Seven Years War, King Frederick the Great implemented...

Amendments Regarding “Authorized Sender” Practice are Introduced

The Regulation on the Electronic Notification by the Social Security Institution was Published

Erdem & Erdem Partner and Competition & Compliance Leader Mert Karamustafaoğlu was the guest of the "Competition Talks with Ali & Gökşin", a program moderated by former competition experts Ali Ilıcak and Gökşin Kekevi...

The Personal Data Protection Board Announced Its Decision Regarding the WhatsApp Investigation Initiated Ex-Officio

The Withholding Rate on Earnings from Shares of Venture Capital Investment Fund and Real Estate Investment Fund Participation Shares Held for More than Two Years Has Been Reduced to 0%

Akinon, which is supporting the omni-channel operations and digital transformation processes of Turkey's and the world's leading retail brands with its cloud-based solutions, attracted $20 million investment in the investment tour led by Actera Group and Revo Capital. Erdem & Erdem is proud to support Akinon...

Global Arbitration Review, which closely follows international developments in the field of arbitration and conducts extensive market research, selects the top 100 law firms in international arbitration worldwide as a result of its annual research. We are very pleased to announce to you that Erdem & Erdem has...

The Amendments on the Circular on Capital Movements

The Duration of VAT Rate Discounts on Certain Goods and Services is Extended Until 30 September 2021

The Period of the Application of Low Withholding Rates on Deposit Interest and Dividends Paid by Participation Banks are Extended

The Period of Withholding Rate Reductions on Real Estate Rentals is Extended to September 30th

The Regulation on Settlement is published

Obligation of Ultimate Beneficial Owner Declaration for Corporate Taxpayers and Certain Persons

Amendment to the Regulation on Loan Operations of Banks

Amendment to the Regulation on the Procedures and Principles Regarding the Classification of Loans and Provisions to be Set Aside for Them

We are very proud to announce that Canan Doksat has been promoted as Managing Associate, as of July 1, 2021...

We are very proud to announce that Alper Uzun has been promoted as Partner, as of July 1, 2021...

Arbitration has benifited from a great increase in the use of technology which has directly effected the conduct of proceedings. More particularly, with digitalization, the way that we conduct arbitration proceedings has been changed to reflect the current needs of parties, with an aim of increasing time...

Time Extension for Wealth Amnesty

The Board’s Decision Regarding Registration Obligation of Commercial Enterprises Affiliated to Associations, Foundations and Unions to the VERBIS has been Published

Organized by Global Arbitration Review, the “GAR Connect: Eastern Mediterranean event was held online on June 24, 2021. Arbitration experts around the world and senior executives of many global institutions attended the event where the latest developments and current practices in the field of arbitration in...

The second issue of the ICC Dispute Resolution Bulletin 2021, which is prepared by arbitration and dispute resolution experts from different countries of the world and includes articles on doctrines, litigation decisions (awards, procedural decisions), global developments, ICC activities, book reviews and ICC...

The new issue of the international, academic, open access and peer-reviewed "Personal Data Protection Journal", issued every six months by the Personal Data Protection Authority, was published on 23 June 2021...

Significant Amendments are Introduced to the Enforcement and Bankruptcy Law

RUSF Rate for the Loans Obtained from EBRD and IFC

The Period of VAT Reduction on Accommodation Services has been re-extended

The Competition Law and Practices Certificate Program was held by Istanbul Ticaret University between April 3rd and June 5th. The program consisted of three-hour 16 modules whose participants were lawyers, legal interns, students that are interested in competition law and the professionals that are dealing...

The Regulation on Sharing of Confidential Information was Published

The Period of the Application of Low Withholding Rates on Deposit Interest and Dividends Paid by Participation Banks are Extended

The Duration of VAT Rate Discounts on Certain Goods and Services is Extended Until July 31st

The Implementation of Credit Rating is Postponed to December 31st

Amendments to the Regulation on the General Assembly Meetings of Joint Stock Companies

Communiqué on Portfolio Management Companies was Amended

International Chamber of Commerce (ICC) published “ICC Model Contracts for Start-ups” which was developed by a dedicated working group of international expert practitioners associated with the ICC Commission on Commercial Law and Practice (CLP) benefited particularly...

The Corporate Tax General Communiqué No. 18 is Published

The Decision of the Ankara 3rd Administrative Court Clarifying That Competition Board May Request Information and Documents from Undertakings Whose Headquarters Located Abroad by Notifying Their Subsidiaries in Turkey

SCT Amounts Imposed on Some Fuel Products Have Been Increased

The 2021 meeting of the IDI Annual Conference, organized by The International Distribution Institute (IDI) who brings lawyers, legal advisors and business people together from around the world, is held online on 10-20-27 May and 10-17 June 2021 due to the coronavirus pandemic...

The "Attorneyship Summit" organized by Başkent University Law Society was held online on 8-9 May 2021 with the participation of experts in their fields and leading law firms across Turkey...

Erdem & Erdem has been ranked again as a Top Tier law firm for its Dispute Resolution practice. Our Founder & Senior Partner Prof. Dr. H. Ercüment Erdem and Our Partner and Head of Dispute Resolution Süleyman Sevinç have been ranked in elite “Leading Individuals” list in this area again...

Despite all challenges and obstacles of the last year, we have adapted to the effects of the Covid-19 epidemic and, we are honored and delighted to present to you our new book, ‘Newsletter 2020’ published by On İki Levha Yayincilik...

Amendment to the Regulation on Measures Regarding Prevention of Laundering Proceeds of Crime and Financing of Terrorism

The Period of VAT Reduction on Overnight Services in Accommodation Facilities Has Been Extended for 1 Month

General Communiqué of the Financial Crimes Investigation Board is Published

United States of America decided to impose sanctions against the Russian Federation

Corporate Tax Rate has been increased

The Resolution of the President Numbered 3866 Ratified the Singapore Convention on Mediation

Competition Board initiated an Investigation against 32 Undertakings concerning the Labor Market

Regulation on Not Using Crypto Assets in Payments is published

Competition Board's Investigation against Google concluded

The live webinar titled “Effects of New Regulations and PSD2 on the Fintech Ecosystem: Where Are We, Where Are We Going?”, organized with the cooperation of Erdem & Erdem Law Office and Turkish Capital Markets Association (TCMA) was held on 12 April 2021...

Social Security Institution Introduced New Codes for Termination

Amendments to Regulation on the Conciliation Before Assessment

Communiqué on the Notification and Registration of Bearer Shares to the Central Securities Depository

Regulation on Remote Identification Methods to be Used by Banks and Establishment of Contractual Relations in Electronic Environment is Published

Authors: Mert Karamustafaoğlu, Merve Bakırcı

The Period of the Low Withholding Rates Related to Deposit Interest and Dividends Paid by Participation Banks are Extended

Declaration of Wage Incomes for FY2020

The live webinar titled “Obstacles Faced by Start-ups”, organized with the cooperation of Erdem & Erdem Law Office and Turkish Capital Markets Association (TCMA) was held on 23 March 2021. In the online panel moderated by Tevfik Eraslan, TCMA Chairman of the Board, Prof. Dr. H. Ercüment Erdem...

The Regulation on Prevention Plans to be Prepared by Systemically Important Banks is published

The Amendments on the Circular on Capital Movements

16th ICC Turkish Arbitration Day, organized with the cooperation of the International Court of Arbitration of the International Chamber of Commerce (ICC), , National Commitee of ICC Turkey and the Union of Chambers and Commodity Exchanges of Turkey (TOBB), was held online on 17-18 March 2021...

The Communiqué on Practices that do not Significantly Restrict Competition Entered into Force

The second SME training titled “ICC Expedited Arbitration” organized by International Chamber of Commerce (ICC) for small and medium sized enterprises (SME’s) and newly-established companies to discover ICC dispute resolution tools is held live online on March 16th, 2021...

Amendment to the Regulation on Measures Regarding Prevention of Laundering Proceeds of Crime and Financing of Terrorism

The Principles Regarding the Submission of Commitments to Competition Authority are Regulated by the Communiqué

Special Communication Tax as Deductible Expense

Amendment to the Communiqué on the Procedures and Principles Regarding the Fees that Banks Can Charge Their Commercial Clients

Organized by Marmara University Faculty of Law, Department of Private International Law and Istanbul Arbitration Center (ISTAC), the 24th panel of the Arbitration School titled "ICC Arbitration Rules in the Light of 2021 Changes" was held on 24th of February, 2021 between 17:00 and 19:00 and broadcasted...

Amendment to the Regulation on Procedures and Principles concerning Monitoring of Transactions Affecting Foreign Exchange Position by Central Bank of Republic of Turkey

The Amendments on the Circular on Capital Movements