Burak Gencoglu – Baspinar & Partners Law Firm

Turkey

Real Property Tax after the Recent Amendments

Real property tax is dramatically increased for 2014 and therefore house, shop, market or landowners are at risk of paying high amount of real estate tax. The reason for such increase is that “land m2 fees” are revaluated in…more
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Communiqué on Assed-backed and Mortgage-backed Securities

The Capital Markets Board (“CMB”)’s recent Communiqué numbered Serial: III and No: 35 on Securities backed by Assets or Mortgage (“Communiqué”) is published on the Official Gazette dated January 9th, 2014 and numbered 28877…more
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Constitutional Court Decision on Annulment of Urban Regeneration Law’s Certain Articles

The Law on the Regeneration of Areas under Disaster Risk numbered 6306(the “Law”), or commonly known as the Urban Regeneration Law, authorizes the public authorities to transform the high-risk areas and buildings. However, this…more
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New Tax Amounts and Rates for 2014 are announced in the Official Gazette

As it is a customary practise in Turkey, a number of tax amounts and rates are increased for the coming year. General Communiqués concerning taxes, which are commonly used in Turkey, are published on the Official Gazette dated…more
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Tax System in Turkey

Tax liability in Turkey depends on whether the tax authorities regard a person as being a Turkish resident. Foreigners are regarded as tax residents (full liability taxpayers) if they live in Turkey for more than six months…more
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Investment Incentives in Turkey

The new investment incentives regime (“Incentives Program”) was announced by the Turkish government on April 6th, 2012 and it became effective on 15.06.2012 by the Council of Ministers decision numbered 2012/3305 (the “Decree”)…more
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Communiqué on Lease Certificates (Sukuk)

A recent communiqué regarding lease certificates has been published on the Official Gazette dated 07.06.2013 and numbered 28670. The communiqué numbered III-61.1 (“Communiqué”) regulates the matters such as the guidelines for…more
| Commercial Law & Contracts, Finance & Banking, International Law & Trade

WORK PERMIT AND RESIDENCE PERMIT REQUIREMENTS IN TURKEY

All foreigners intending to work in Turkey are required to obtain a Work Permit prior to begin their employment in Turkey. It is illegal for an employer to recruit a foreign worker who does not possess a work permit…more
| Civil Rights, Immigration Law

COUNCIL OF MINISTERS DECISION REGARDING THE INDEPENDENT AUDIT OF COMPANIES

Turkish Commercial Code (“TCC”) dated 13.01.2011 and numbered 6102 introduces significant provisions regarding good management and internal and independent audit that are to be applied to capital stock companies. The council of…more
| Commercial Law & Contracts

COMMUNIQUÉ CONCERNING THE MERGERS AND ACQUISITIONS CALLING FOR THE AUTHORIZATION OF THE COMPETITION BOARD

Procedures and principles concerning the determination of mergers and acquisitions which require authorization and notification of the Competition Board are regulated by the Communiqué Concerning the Mergers and Acquisitions…more
| Mergers & Acquisitions

Turkey: Recent developments in real estate acquisition by foreign nationals

Turkey is one market lauded for the rapid growth of its local Islamic finance industry; but the country has also attracted foreign interest as an investment destination. Gökmen Baspinar and Burak Gencoglu of Baspinar & Partners…more
| Construction Law, Finance & Banking, Real Estate - Commercial, Real Estate - Residential

Turkey: A bumper year for Islamic finance

The Turkish fi nancial market maintained its constant development in 2011 and recent reports from reputable international fi nancial institutions project that this development will continue in 2012. In 2011, Sukuk was introduced…more
| Commercial Law & Contracts, Finance & Banking, Real Estate - Commercial, Real Estate - Residential, Securities Law

Recognition and Enforcement of Foreign Judgements in Turkey

Turkey, as an outcome of its integration policy into the global business, has a liberal modern and international investor friendly judgement system. Turkish government has made fundamental changes on the judicial system to…more
| Alternative Dispute Resolution (ADR), Civil Procedure, Civil Remedies, Conflict of Laws

The future of participation banks and new banking licences in Turkey

The market share of participation banks in Turkey has increased since the 2001 crisis.We delve into the banking laws in the country and discusses how it may affect the Islamic finance industry…more
| Finance & Banking

A New Ministry for the Real Estate Market in Turkey: Environment and Urban Planning

A sole policy maker may correct the chaotic environment which is created by the different practises of the municipalities. It is also a positive development that zoning plans will be drafted by experts of the new ministry…more
| Real Estate - Commercial, Real Estate - Residential, Zoning, Planning & Land Use
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Areas of Practice
  • Alternative Dispute Resolution (ADR)
  • Energy & Utilities
  • Finance & Banking
  • International Law & Trade
  • Litigation
  • Real Estate
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