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    Contributors Esin Attorney Partnership

    Contact Information
    • Address: Akatlar Mah. Ebulula Mardin Cad. Gül Sok. No. 2 34335 Beşiktaş, Istanbul
    • Email: [email protected]
    • Phone: +90 (212) 376 64 00
    • Website: www.esin.av.tr

    Esin Attorney Partnership, a member firm of Baker McKenzie, provides clients with outstanding foreign and Turkish law advice. We have a total of nearly 150 staff, including over 100 lawyers, serving some of the largest Turkish and multinational corporations.

     

    Our clients benefit from on-the-ground assistance that reflects a deep understanding of the country's legal, regulatory and commercial practices, while also having access to the full-service, international and foreign law advice of the world's leading global law firm. Our office is recommended both locally and internationally for our high level of client service. We have advised the world's leading multinational companies on M&A, dispute resolution, competition law, energy, mining and infrastructure projects, data privacy, employment, banking and finance, compliance, intellectual property, tax and other legal issues in Türkiye. We are ranked highly by various independent organizations such as Chambers & Partners, Legal 500 and IFLR 1000 guides for our services in our two main areas of transactional and advisory practices.

     

    As Esin Attorney Partnership, our collaborative culture and our embrace of innovation in client work have allowed us to thrive in these challenging times while boosting our profitability. From exploring alternative forms of legal service delivery through the both Transaction Support Group and Advisory Support Group to rolling out new technologies to boost the quality and efficiency of our work, innovation is key enabler of our success.

     

    Main Areas of Practice

     

    Banking & Finance

     

    Our Banking & Finance practice comprises of ten experienced lawyers. We have the experience and insight to help you navigate through new complexities in today’s financial markets. We advise on all aspects of cross-border and domestic financing across a broad range of industries from IT to manufacturing and everything in between. Having acted for both lenders and borrowers, we draw on our insights to develop creative and effective strategies for negotiation, compliance and risk management. Our team represents commercial banks, investment banks and other financial institutions, private equity funds and corporate borrowers. In the project finance world, we advise sponsors, developers, lenders, financial institutions, investment funds, governments and governmental agencies.

     

    Our approach is to provide input not just on the technical terms of banking documents, but also on strategy and other structuring issues. With our specialized transactional capabilities and industry expertise, we will deliver fully integrated legal services regardless of your transaction’s location, scope or complexity.

     

    Our practice includes

    • Financial restructuring
    • Restructuring and insolvency
    • Acquisition finance
    • Syndications
    • Project finance
    • Securitization and structured finance
    • Islamic banking and finance
    • Loans and credit facilities
    • Trade finance
    • Real estate finance
    • Asset and aircraft finance
    • Derivatives and structured financial products
    • Regulatory advice

     

    Dispute Resolution

     

    Our Dispute Resolution Practice Group comprises two teams. Our arbitration team is recognized for their work on commercial disputes and particularly disputes arising from M&A transactions and EMI projects, while the litigation team is experienced in advising clients on employment, intellectual property, real estate, and investment disputes. To provide legal services, we collaborate with clients to identify and implement the most appropriate solutions for their business, either by pursuing or defending litigation, arbitration or by other alternative dispute resolution mechanisms.

     

    Our regional and industry experience enables us to provide practical advice to our clients.

     

    We frequently address disputes in the following areas

    • Administrative and public law
    • Antitrust and competition
    • Commercial
    • Consumer protection
    • Customs and international trade
    • Banking and finance
    • Bankruptcy and insolvency
    • Environmental matters
    • Employment
    • Intellectual property
    • Real estate and construction
    • Compliance and data protection
    • Infrastructure
    • Shareholder disputes
    • Criminal matters

     

    Healthcare

     

    We provide a wide range of services in the healthcare industry, from drafting and negotiating toll manufacturing to managing licensing, distribution, supply and license transfer agreements. We guide clients in navigating Turkish pharmaceutical and healthcare regulations, and advise our clients in their day-to-day business.

     

    Our team is experienced in advising multinational pharmaceutical and medical devices clients on transactions, regulatory and compliance issues specific to the healthcare industry. We deliver a full range of services to help clients address competition, commercial, employment, intellectual property and compliance issues.

     

    We frequently advise on matters concerning

    • Marketing authorization transfers, co-marketing and clinical trials agreements
    • Product liability
    • Tender issues with regard to pharmaceutical products
    • Pre-license sale of pharmaceutical products
    • Interactions with healthcare professionals with regard to medical devices and pharmaceuticals
    • Tri-partite clinical trials agreements
    • Pre-license marketing and promotional activities for pharmaceutical products
    • Turkish pharmaceutical regulations, including marketing authorization, pricing and promotion regulations
    • Intellectual property protections, such as patents, data protection and data exclusivity, for pharmaceutical products

     

    Information Technology & Communications

     

    Our Information Technology and Communications practice group draws upon industry knowledge to provide assistance to our clients that are developing game-changing technologies and innovative business models.

     

    Sourcing IT/C products and services is a necessity for nearly every industry, and our team of professionals offer a wide range of cutting-edge and practical legal solutions to help our clients become sector vanguards.

     

    We provide a full scope of services, including advice on well-established legal practices such as telecommunications, broadcasting, new media, e-commerce, shared services, payment services, data protection and privacy, as well as on legal matters arising from new technological developments with an as of yet unestablished legal practice.

     

    Tax

     

    We understand the intricacies of taxation, including tax planning, transfer pricing and other indirect tax matters like litigation and dispute resolution. We have capabilities and resources to design, implement and defend international tax planning structures.

     

    We deliver inbound and outbound tax services to local and multinational clients in Turkey. We are capable of advising on transfer pricing, tax dispute resolution, and wealth management.

     

    Our tax practice includes

    • Tax planning and structuring
    • Commercial transactions
    • Transfer pricing
    • VAT / indirect taxation
    • Tax dispute resolution
    • Employee benefits
    • Insurance tax
    • Wealth management

    Key Contacts

    Dispute Resolution, Mergers & Acquisitions, Private Equity, Real Estate
    Banking & Finance, Capital Markets, Fintech
    Information Technology & Communications, International Commercial & Trade, Healthcare
    Dispute Resolution, Investigations, Compliance & Ethics

    Awards

    Dispute Resolution, Mergers & Acquisitions, Private Equity, Real Estate
    Banking & Finance, Capital Markets, Fintech
    Dispute Resolution, Investigations, Compliance & Ethics
    Mergers & Acquisitions, Private Equity
    Information Technology & Communications, International Commercial & Trade, Healthcare
    International Commercial & Trade, Information Technology & Communications
    Intellectual Property & Technology, International Commercial & Trade
    Intellectual Property & Technology, International Commercial & Trade
    International Commercial & Trade, Information Technology & Communications
    Intellectual Property & Technology, International Commercial & Trade
    Information Technology & Communications International Commercial & Trade Healthcare
    Banking & Finance, Capital Markets, Fintech
    Banking & Finance, Capital Markets, Fintech
    Banking & Finance, Capital Markets, Fintech
    Banking & Finance, Capital Markets, Fintech
    Banking & Finance, Capital Markets, Fintech
    Information Technology & Communications, International Commercial & Trade, Healthcare
    Banking & Finance, Capital Markets, Fintech
    Information Technology & Communications, International Commercial & Trade, Healthcare
    Intellectual Property and Technology, International Commercial & Trade, Healthcare
    Banking & Finance, Capital Markets, Fintech
    Banking & Finance, Capital Markets, Fintech

    Alternatif Halka Açılma Yöntemi Yürürlüğe Girdi

    Payları Girişim Sermayesi Pazarında İşlem Görecek Ortaklıklara İlişkin Tebliğ, nitelikli yatırımcılara anonim şirketlerin paylarını sermaye artırımı yoluyla ve halka arz etmeden borsada satma imkanı getiriyor. Tebliğde yapılan değişiklikler arasında şunlar yer alıyor: Şirketlerin paylarını halka arz etmeden nitelikli yatırımcılara satma imkanı, satış esasları ve satış sonrası yükümlülükler düzenlenmiştir. Ayrıca, payları Girişim Sermayesi Pazarında işlem görecek şirketlerin bazı yükümlülüklerden muaf tutulduğu ve Tebliğ kapsamındaki şirketlerin belirli düzenlemelere tabi olmadığı görülmektedir. Tebliğ, payları borsada işlem görmek isteyen şirketlere daha kolay bir süreç sunarak hafifletilmiş yükümlülükler sağlamaktadır.
    Muhsin Keskin
    Caner Elmas
    Ozcan Serhat Cengiz
    Cennet Sena Güney

    Alternative Method for Going Public Enters into Force

    The recently enacted Communiqué on Companies whose Shares will be Traded on the Venture Capital Market introduces the option for joint stock companies to sell shares to qualified investors without a public offering. To be eligible for trading on the Venture Capital Market (VCM), companies must meet specific financial thresholds. The newly issued shares can only be sold through the stock exchange and are exclusively traded on the VCM. The Communiqué exempts listed companies from certain reporting and governance obligations, and the shares cannot be offered to the public for two years following their listing on the VCM. This regulation provides an alternative route for companies to list on the stock exchange without a public offering.
    Muhsin Keskin
    Caner Elmas
    Ozcan Serhat Cengiz
    Cennet Sena Güney

    Yargıtay’dan Kritik Kambiyo Mevzuatı Kararı

    Türk Parası Kıymetini Koruma Hakkında 32 Sayılı Karar’da (“32 sayılı Karar”) yapılan değişikliklerle, Türkiye’de yerleşik kişiler arasında yapılacak birtakım sözleşmeler kapsamındaki ödeme yükümlülüklerinin döviz cinsinden veya dövize endeksli olarak kararlaştırılması yasaklanmıştı.
    Muhsin Keskin
    Yalın Akmenek
    Caner Yeşil
    Zeki Nizam Cebe

    Supreme Court’s Critical Decision Concerning Currency Control Laws

    The decision of the 12th Civil Chamber of the Supreme Court of Appeals dated October 6, 2022, with File No. 2022/6469 and Decision No. 2022/9954 (the “Decision“), includes essential remarks regarding the legal consequences of the violation of such ban.
    Muhsin Keskin
    Yalın Akmenek
    Caner Yeşil
    Zeki Nizam Cebe

    Portföy Yönetim Şirketlerine İlişkin Mevzuatta Önemli Değişiklikler

    Yeni Gelişmeler Portföy Yönetim Şirketleri ve Bu Şirketlerin Faaliyetlerine İlişkin Esaslar Tebliği’nde Değişiklik Yapılmasına Dair Tebliğ (“Tebliğ“), 18 Şubat 2023 tarihli Resmi Gazete’de yayımlandı. Tebliğ metnine buradan erişebilirsiniz. Değişiklikler Ne Getiriyor? Tebliğ aşağıdakiler başta olmak üzere portföy yönetim şirketleri (“PYŞ“) bakımından önemli değişiklikler içeriyor:
    Muhsin Keskin
    Bora Kılıç

    Significant amendments to the Communiqué on Portfolio Management Companies

    The Communiqué Amending the Communiqué on Principles Regarding Portfolio Management Companies and Their Activities (“Communiqué“) was published in the Official Gazette on 18 February 2023. The Communiqué is available here.
    Muhsin Keskin
    Bora Kılıç

    Pay Geri Alımlarında Yeni Esaslar

    Sermaye Piyasası Kurulu (“SPK“), 14 Şubat 2023 tarihinde payları borsada işlem gören ortaklıklar ve bunların bağlı ortaklıklarının pay geri alım işlemlerinin kolaylaştırılması ve yatırımcıların korunması amacıyla 9/177 Sayılı İlke Kararını (“İlke Kararı”) yayımladı. İlke Kararı’na buradan ulaşabilirsiniz. İlke Kararı ile birlikte SPK’nın pay geri alımlarına ilişkin geçmiş tarihli basın duyuruları ve ilke kararları (21 Temmuz 2016 ve 25 Temmuz 2016 tarihli duyurular ve 23 Haziran 2022 tarihli ve 34/959 sayılı ve 21 Ağustos 2015 tarihli ve 21/1023 sayılı ilke kararları) yürürlükten kaldırıldı.
    Muhsin Keskin
    Ozcan Serhat Cengiz

    New Regime for Share Buybacks

    On February 14, 2023, the Capital Markets Board (“CMB“) issued a resolution numbered 9/177 (“Resolution“) to facilitate share buybacks of public companies and their affiliates and to protect investors. You can access the Resolution here. The CMB’s prior announcements and resolutions regarding share buybacks (announcements dated July 21, 2016 and July 25, 2016 and resolutions dated June 23, 2022 and numbered 34/959, and dated August 21, 2015 and numbered 21/1023) were abolished.
    Muhsin Keskin
    Ozcan Serhat Cengiz

    Gümrük Alacaklarına Yeniden Yapılandırma

    Gümrük alacakları da dahil olmak üzere çeşitli kamu alacaklarının yeniden yapılandırılmasına dair hükümleri içeren Bazı Alacakların Yeniden Yapılandırılması ile Bazı Kanunlarda Değişiklik Yapılmasına İlişkin Kanun Teklifi (“Kanun Teklifi”), 27 Ocak 2023 tarihinde TBMM Başkanlığı’na sunuldu. Seçim takvimi de göz önüne alındığında Kanun Teklifi’nin Şubat ayı ortasına kadar yürürlüğe girmesi bekleniyor.
    Orhan Pala
    Dr. Erdal Ekinci
    Can Sözer
    Özge Kısacık
    Aybüke Gündel Solak

    Restructuring of Customs Receivables

    On 27 January 2023, the Draft Law on the Restructuring of Certain Receivables and Amending Certain Laws (“Draft Law”) was submitted to the Turkish Parliament. It includes provisions regarding the restructuring of various public receivables, including customs receivables. Considering the election calendar, the Draft Law is expected to be enacted by mid-February.
    Orhan Pala
    Dr. Erdal Ekinci
    Can Sözer
    Özge Kısacık
    Aybüke Gündel Solak

    Esin / Litigation Quarterly - Spring 2023

    In its recently published decision, the constitutional court emphasized the “right to a reasoned decision” within the right to a fair trial and ruled that, even if the courts use their discretionary power, the reasons considered whilst doing so must be indicated and explained.
    İsmail G. Esin
    Koray Söğüt
    Yalın Akmenek
    Demet Kaşarcıoğlu

    Esin / Sağlık & Yaşam Bilimleri Bülteni - Nisan 2023

    Türkiye İlaç ve Tıbbi Cihaz Kurumu geçtiğimiz haftalarda, (AB) 2017/745 Sayılı ve (AB) 2017/746 Sayılı Tüzükler hakkında duyuru, Ruhsatlı Beşeri Tıbbi Ürünler Listesi hakkında duyuru, Tıbbi Cihazların Elektronik Kullanım Talimatlarına İlişkin Tebliğ ve İyonlaştırıcı Radyasyon ve Radyonüklit Kullanılarak Sunulan Sağlık Hizmetleri Hakkında Yönetmelik’i yayımladı.
    Can Sözer
    Gizem Nur Yıldırım
    Ayça Doğu
    Yiğit Acar
    Berk Furkan Derici

    Esin / Healthcare & Life Sciences - April 2023

    The Turkish Pharmaceuticals and Medical Devices Authority (“TİTCK”) recently published an announcement regarding European Union Regulations No. 2017/745 and 2017/746, an announcement on the List of Pharmaceuticals with Marketing Authorization, the Communiqué on Electronic Instruction Manuals of Medical Devices, and the Regulation on Health Services Provided Using Ionizing Radiation and Radionuclides.
    Can Sözer
    Gizem Nur Yıldırım
    Ayça Doğu
    Yiğit Acar
    Berk Furkan Derici

    Healthcare & Life Sciences Newsletter

    The Turkish Pharmaceuticals and Medical Devices Authority (TİTCK) has published new regulations and guidelines impacting medical devices, pharmaceuticals, and healthcare institutions. Key updates include the Regulation on the Duties, Authorities and Responsibilities of the National Control Laboratory, the Guideline on the Pharmacovigilance System, amendments to the Decree on Pricing of Medicinal Products, and the Regulation on Marketing Authorization of Medicinal Products. Additionally, the TİTCK announced the annulment of the Decision on the Extension of Approval Periods for Off-Indication/International Medicinal Products and released information on EU Implementing Regulations No. 2022/2346 and No. 2022/2347.
    Can Sözer
    Gizem Nur Yıldırım
    Ayça Doğu
    Yiğit Acar

    Sağlık & Yaşam Bilimleri Bülteni

    Türkiye İlaç ve Tıbbi Cihaz Kurumu (“Kurum”) geçtiğimiz haftalarda, Türkiye İlaç ve Tıbbî Cihaz Kurumu Ulusal Kontrol Laboratuvarının Görev, Yetki ve Sorumlulukları ile Çalışma Usul ve Esasları Hakkında Yönetmelik, Farmakovijilans Sistemi Kılavuzu, (AB) 2022/2346 Sayılı ve (AB) 2022/2347 Sayılı Uygulama Tüzükleri hakkında duyuru ve Tıbbi Cihaz Klinik Araştırmaları Hakkında duyuru yayımladı.
    Can Sözer
    Gizem Nur Yıldırım
    Ayça Doğu
    Yiğit Acar

    New Tax Amnesty Is on the Way

    Turkey's Draft Law on the Restructuring of Certain Receivables and Amending Certain Laws, known as the "tax amnesty of the century," was submitted to the Turkish Parliament on January 27, 2023. The draft law includes provisions for the restructuring of various public receivables, including tax receivables, tax base increase, and business records correction. Taxpayers who pay the entire original tax plus interest and penalties based on PPI monthly rates until the law's promulgation date will have the entire tax penalty and delay interest written off. The draft law also introduces a tax/tax base increase mechanism for income/corporate income tax, VAT, and certain withholding taxes.
    Orhan Pala
    Dr. Erdal Ekinci
    Özge Kısacık

    Yeni Nesil Yönetim - Aile Şirketi Hisselerinin Yatirim Fonuna Devri

    Son yıllarda ülkemizde Türk Lirası varlıklara yatırım yapılmasını teşvik etmek amacıyla farklı yatırım araçlarına oldukça özendirici teşvikler getirildiği görülmektedir. Bu teşviklerden en dikkat çekici olanı ise yatırım fonlarına getirilen vergi teşvikleridir. Sağlanan vergi teşvikleri, kurumları ve gerçek kişileri, hisse senedi yatırımlarını gerçekleştirirken yatırım fonlarına yönlendirmektedir.
    Muhsin Keskin
    Orhan Pala
    Senem Özbilen
    Ali Çetin
    Eren Akarca
    Bora Kılıç

    New Generation Management - Transfer of Family Company Shares to an Investment Fund

    Taxation of the income to be obtained from the participation shares generated by transferring the shares to a VCIF is particularly advantageous for natural persons holding shares of publicly traded companies, as the table below demonstrates. Moreover, the gains of the VCIF itself are exempt from corporate income tax.
    Muhsin Keskin
    Orhan Pala
    Senem Özbilen
    Ali Çetin
    Eren Akarca
    Bora Kılıç

    Additional Corporate Income Tax Deduction for R&D and Design Centers Re-Regulated and RUSF Rate for Foreign Loans Obtained by Financial Leasing Companies Set as Zero

    Presidential Decree No. 6652 has re-regulated the additional corporate income tax deduction for R&D and design centers, making the regulation clearer and explicitly including 'design centers' and 'design activities' within the indicators to be fulfilled. The effective date of the corporate income tax deduction has also been extended until 31 December 2028. In addition, Presidential Decree No. 6657 has set the resource utilization support fund rate as zero for loans obtained from abroad by financial leasing companies. These decrees came into effect on 10 January 2023.
    Orhan Pala
    Dr. Erdal Ekinci
    Eren Akarca

    Arbitration Quarterly

    Global developments, such as changing politics in the energy sector and Russia's invasion of Ukraine, are affecting investment arbitration. European states withdrawing from the ECT, is also causing an impact. Courts and arbitral tribunals are making decisions that may affect state investment policies. Changes in investment arbitration over the last two quarters will continue to be contemporary hot topics, and government policies regarding environmental issues will keep evolving. Arbitral institutions are cooperating to create an environment that facilitates parties worldwide in accessing an arbitral institution from another region.
    İsmail G. Esin
    Yalın Akmenek
    Demet Kaşarcıoğlu