According to the Employment Code of Turkey No.4857, termination of the employment agreement is possible with two legal ways: (i) periodical termination with valid reason and (ii) immediate termination with rightful reason. PERIODICAL TERMINATION OF THE EMPLOYMENT AGREEMENT WITH VALID REASON BY EMPLOYER Termination of the Employment Agreement by employer which the employee who is […]

Turkish Commercial Code allows two ways for merger of the commercial companies: “Merger by acquisition” and “Merger by establishing a new company” MERGER BY ACQUISITION If merger will be done by acquisition of a company by another company, this is called as “Merger by Acquisition”. The company that accepts the merger is called as “transferee” […]

THE MANAGEMENT BODY OF THE JOINT STOCK COMPANIES In Joint Stock Companies, the Board has the authority of management and representation of the companies, without the prejudices of legal provisions. The Board must be established in Joint Stock Companies by at least one or more real or legal person. The Board members are elected by […]

The body of Joint Stock Companies (A.Ş.) and Limited Liability Companies (Ltd. Şti.) which the shareholders may use their rights related to the company, is to general assembly. The General Assembly may have resolution for all issues stated in the codes and the articles of association. According to the Turkish Commercial Code, the following resolutions [...]

THE LEGAL AND FISCAL DIFFERENCES OF PRIVATE COMPANIES, JOINT STOCK COMPANIES AND LIMITED LIABILITY COMPANIES IN TURKEY According to the Turkish Commercial Code, the commercial companies are made up of joint stock company, limited liability company, collective company, commandite company and cooperatives. The collective company and commandite company are defined as private companies and joint stock [...]

TERMINATION OF EMPLOYMENT AGREEMENT DUE TO THE DOWNSIZING OF WORKPLACE Briefly state the legal regulation about the termination of employment agreements by the employer; according to the Employment Code No. 4857 in Turkey, an employee who work in a workplace that has more than 30 employees and who has seniority more than 6 months, is [...]

According to Turkish Commercial Code, the merger of corporations is possible by two ways: the acquisition of merging corporation by the other merging corporation, or acquisition of the merging corporations by the new-establishment corporation.  To briefly clarify the merger procedure regulated in the Turkish Commercial Code; According to the Article 146 of Turkish Commercial Code, [...]

ESTABLISHMENT OF CAPITAL STOCK COMPANIES IN TURKEY Natural or legal people who’d like to carry out commercial activities via capital stock companies in Turkey, may establish a stock corporation, especially the types of joint stock company and limited liability company, provided that investing the legal minimum capital and the fulfilling other legal conditions. A natural [...]