“PIERCING THE CORPORATE VEIL”

“PIERCING THE CORPORATE VEIL” 1.What is “Piercing the Corporate Veil”? The general rule in Turkish Commercial Code No. 6102 and Bankruptcy and Enforcement Law No. 2004 is that a legal entity is responsible for legal  transactions as an independent person, separately from its shareholders. Shareholders or affiliated companies cannot be held responsible for the company…

Points to Consider in Foreigners’ Acquisiton of Turkish Citizenship by Real Estate Purchase

Points to Consider in Foreigners’ Acquisiton of Turkish Citizenship by Real Estate Purchase Procedures and principles regarding the acquisition of Turkish Citizenship by real estate purchase are stipulated in the Regulation on the Implementation of Turkish Citizenship Law dated 31.05.2019. In line with this regulation, Directorate General of Land and Cadastre has also published a…

Acquisition of Turkish Citizenship

Acquisition of Turkish Citizenship In accordance with the Law amendment that has been come into force on September 19th 2018, non-Turkish citizens who purchase a property worth 250,000 USD can acquire Turkish Citizenship. First step for a non-Turkish citizen who is willing to become a Turkish Citizen is to purchase a property worth minimum of…

Advantages of Establishing a Joint Stock Company

Advantages of Establishing a Joint Stock Company The two most preferred types of companies in the global financial world are the Joint Stock Companies and Limited Liability Companies. It is important to know the advantages and disadvantages of these two type of companies, particularly for entrepreneurs who are considering to establish a start-up. Among these…

Main Responsibilities of the Board of Directors in Joint Stock Companies and the Managing Directors in Limited Liability Companies

Main Responsibilities of the Board of Directors in Joint Stock Companies and the Managing Directors in Limited Liability Companies Based on the statistical data published by the T.O.B.B.(the Union of Chambers and Commodity Exchanges of Turkey) each year, it is seen that Limited Companies and Joint Stock Companies are preferred over other company types. These…