The Notice on amending the Notice which was altered Regulation of Cheque Payments and Protection of Cheque Holders was published in the Official Gazette, numbered 27111 and dated 15th January 2009 with series number 2009/1. The notice will be entered into force from 26th of January 2009. By this amendment, interim Article 6 of the...

“The Regulation on the Acquisition of Real Property by Foreign Capital Companies” was published in the Official Gazette No. 27052 dated November 12, 2008, and entered into force from the publication date. It was prepared on base of Article 36 paragraph 4 of the Deed Law No. 2644, dated 22.12.1934 and regulates procedure of and...

According to Article 329 of the Code of Commerce (Türk Ticaret Kanunu- hereinafter referred to as TTK) a joint stock company (hereinafter referred to as JSC) shall not acquire or pledged its own shares. In case of violation of this provision, the transaction will be declared null and void. This means that, any agreement concerning...

I – Introduction: Stability and growth reached in the Turkish economy has attired attentions of foreign investors and foreign real persons to Turkish real estate market. The fact that Turkey has been attracting foreign investment created a need for new regulations on the right to real estate of foreign citizens. There have been many amendments...

While selling or buying a real estate, it is always appropriate to know in advance some special provisions of Act of Taxes and Act of Fees in order to avoid any future dispute. Those who buy real estate shall check whether the real estate has any unpaid tax debt belonging to previous years. The price...

Introduction The importance of the division of companies is raised up together with the growing up of the business environment. Company division can be defined as a way of returning to the main area of activity for companies which are departing from their main field. Besides this, if the owner of the company believes that...

Deferral of bankruptcy in general As many capital companies went in bankruptcy in the economic crisis of 2001 in Turkey, a need for a regulation to protect the economy of the country from bankruptcy in common of capital companies emerged. For this reason, in 2003 the article 179 of the Execution and Bankruptcy Law no....

I – Introduction “The Act on the Reform of the Condominium Ownership Act” no. 5711, dated 14/11/2007 amended some provisions of the “Condominium Ownership Act” no. 634 dated 23/6/1965 and added some provisions to adapt the act to current needs. The most important ones of these amendments regarding business centres are the 3rd article which...