Bad Real Estate Deals: How to Recover Losses? One of the most common legal disputes that foreign nationals face in Turkey is a bad real estate deal. These disputes consist of two elements: A buyer (usually a foreign national) makes a down payment (“deposit”) or pays the full price of
Turkish Cash Repatriation Law Turkey Extends the Law on Cash Repatriation until 30 June 2020 Turkish Cash Repatriation Law is a temporary law that allows individuals and companies to transfer their money, gold, foreign currency, movable property and other stocks to Turkey without any tax inspection, criminal investigation, penalty or
Fraud Under Turkish Law Under Turkish law, the crime of fraud is defined as deceiving someone through deceptive acts and profiting from these acts at the expense of the deceived or of a third party. By this definition, the elements of fraud are: a) deceptive acts, b) profiting from the
Writing wills in Turkey and Preserving the Estates of Foreigners in Turkey For foreign nationals who have assets or funds in Turkey, writing wills and preserving their estates is a common issue. The most frequently asked questions are how to write a will in Turkey that will be accepted and
State Incentives for Foreign Investors in Turkey Disclaimer: The information provided in this article is general, incomplete and does not constitute financial, tax or legal advice. I. OVERVIEW Over the past fifteen years, Turkey has started a lot of incentive programs that encourage start-ups, entrepreneurs, businesses and investors. The programs
INCOTERMS 2020 HAVE BEEN ANNOUNCED INCOTERMS, an acronym which stands for international commercial terms, are standard terms published and trademarked by International Chamber of Commerce (ICC), for and used in international commerce, maritime law and basically all modes of transport under shipping law. After 10 years have passed since INCOTERMS’ last update
Carrier’s Legal Liability Under Shipping Law In shipping law, a carrier is legally liable for the loss, damage and delay of the cargo. The shipping law provisions of the Turkish Commercial Code has integrated both The Hague-Visby Rules and the Hamburg rules regarding the carrier’s legal lability, its limits, the
10 Most Frequently Asked Questions on Turkish Citizenship by Investment 1) What is the new Turkish Citizenship by Investment Law? As per the 106th Turkish Presidential Order dated 18 September 2018, foreign nationals who purchase an eligible property worth at least 250,000 USD may apply for Turkish citizenship by
Foreigners who have been legally and continuously residing in Turkey for at least 5 years for certain reasons (such as work, owning real estate, marriage to a Turkish citizen etc.) may apply for Turkish citizenship, on the condition that they meet certain criteria such as speaking sufficient Turkish. However, foreigners
FIXING THE CONTRACT PRICE AT FOREIGN CURRENCY : Which Changes Were Brought by the 13.09.2018 Amendment of the Law on Protection of the Value of Turkish Currency? Baris Erkan Celebi, Attorney at Law ABSTRACT The Presidential Order dated 13.09.2018 prohibited the fixing, determining or payment of the contract prices at