Our Istanbul office now has 85-plus attorneys, is highly ranked in key legal directories and has the capacity on the ground in Turkey to deliver. Pursuant to the Turkish Commercial Code (“TCC”), the corporations consist of collective company, commandite company, ordinary partnership, cooperative company, joint stock company and limited liability company under Turkish law. Within the scope of the TCC, collective and commandite company are deemed as partnerships whereas joint stock, limited liability and commandite company limited by the shares are deemed as corporations in which the liability is limited to the value of the share capital. We offer a legal services, which are client focused and designed for the needs of our local and international clients and business partners as well.
The limited partner is only liable to the creditors of the KG up to the amount of his contribution. Insofar as the contribution has been made, however, liability is excluded (Art. 319 Turkish Commercial Code). Just like the general partnership, the limited partnership is a partnership, the purpose of which is to operate a trade. Concerning the form and details of the partnership agreement and the termination of the limited partnership, the same statements apply as for the general partnership. The general societies play a very subordinate role in Turkish economic life. In 2014, according to the statistics of the Turkish Ministry of Customs and Trade, only one of 1,351,312 Turkish company formations was registered as a general partnership.
The taxation of the sale of the company share is based on the provisions on the increase in value. Art. 625 Turkish Civil Code regulates the management authority, while Art. 637 Turkish Civil Code regulates the power of representation and its scope. To understand management and representation, it is essential to distinguish between internal and external lawyer relationships. Internal relationships are the relationships between the shareholders, external relationships are the relationships between the company and third parties. A distinction must be made between external and internal partnerships. The partners of a general partnership in Turkey are personally liable with all their assets without limitation.
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Thus we can offer advisory services to Turkish companies/individuals that are interested in expanding their operations to the international market and also to foreign companies/individuals seeking advice on Turkish Law. We are based in Istanbul and have correspondent lawyers in most major cities in Turkey, specialized in the same fields as ours, which enables us to be active and effective all over the country. In addition, we are also in close cooperation with various academicians and financial advisers who all are experts in their fields for a complete service to our clients. We are not, and do not target to become one of the large law firms, measured by their number of offices or lawyers. Our boutique structure allows our partners to establish long term, and profound relationships with our clients.
Advised a global chemicals company, on its acquisition of the whole share capital of the Turkish entity of another global chemicals company. Represent E-Bay Turkey and provide legal advice on a regular basis in connection with its commercial agreements and products, as well as new products and service lines. Abcoo Law Firm is experienced in advising both buyers and sellers on M&A transactions, with a particular focus in sectors such as real estate, gaming, retail, hospitality, technology, and cosmetics. Article 3 of the said Code defines the Data Controllers as real persons or legal entities who are responsible to set out the objectives of processing persona data, establishment and management of data registration system within the meaning of Law. In practice, for the Joint Stock Companies, the company itself is deemed as Data Controller and is obliged to get registered at the so called (‘‘VERBIS’’) Data Controllers’ Registry Information System. Attorneys at Tan are ready to help you with just about any type of litigation you or your business may face in Turkey.
SASA Polyester Sanayi A.Ş., as issuer, on the offering of €200 million guaranteed convertible bonds. The transaction is the first-ever convertible bond offered internationally by a Turkish company and opens up the Turkish bond market to similar issuances in the future. A liaison office may conduct the following activities in general, representation and hosting; control, ınspection and provision of local suppliers; technical support; communication and transfer of ınformation; regional management headquarter. The decisions of the partnership shall be taken unanimously unless it is determined otherwise within the partnership agreement.
The liability of the partners shall arise in case debt enforcement proceedings are unsuccessful against the company or the company ceased to exist for any reason. The ordinary general meeting shall convene within three months as of the end of each activity period. Unless it is agreed otherwise within the articles of association all resolutions shall pass by a simple majority of the represented share capital. Some matters such as increasing the share capital require at least 2/3 of the represented votes and the simple majority of the share capital with voting right to be present.
They are for informational purposes only, they do not constitute a legal warning or advice, and do not constitute for legal consultancy. MGC Legal, a high-quality Turkish legal firm, is here to assist you with animmigration lawyer in Istanbul. All our lawyers are covered by professional liability insurance policies that fulfil mandatory requirements. We have a comprehensive offering in all areas of business law and absolute cutting-edge competence in important fields of corporate, commercial and industrial life. The rights of the shareholders are essentially limited to the distribution of profits and the supervision of the management.
By choosing our team you will find out if you are eligible for double taxation exemption and what you can do to avoid this payment. Boutique firm NAZALI Attorney Partnership advises a combination of domestic corporates and major international brands on corporate law, cross-border mergers and acquisitions, private equity transactions, and joint ventures. Norton Rose Fulbright has been active in the Turkish market for more than 25 years and opened its Istanbul office in 2011. Norton Rose Fulbright is a top 20 ranked firm in the American Lawyer Global 200 and in the Thomson Reuters Acritas Global Elite Law Firm Brand Index . As an Istanbul law firm, MGC Legal provides legal consultancy support in many different areas such as; disputes, mediation, investment consultancy and company consultancy.
‘Umut Kolcuoğlu stands out in the market as the go-to person for M&A matters. We have relied on his and his team’s skills for a few transactions, always ending up happy to have retained their services. They have good business knowledge and are our “advisors”, not just lawyers’. Likewise, we have a large staff of legal consultants, consisting of the world’s leading expert academics and professionals.