Mediation is a form of alternative dispute resolution (ADR) in which a neutral third party, known as a mediator, helps two or more parties to reach a mutually acceptable solution to a dispute. Unlike a judge or an arbitrator, a mediator does not make a decision or impose a solution. Instead, the mediator works with...
Establishing a Joint Stock Company (JSC) in Turkey involves several steps and procedures. Here is an information note on the process: Choose a company name and check availability: The first step in establishing a JSC is choosing a company name and checking its availability. The name should not be similar to any existing company name...
P&I insurance, or Protection & Indemnity insurance, is a type of maritime insurance that provides coverage for shipowners and charterers for third-party liabilities arising from the operation of a vessel. P&I insurance is typically required by shipowners and charterers. P&I insurance provides coverage for third-party liabilities arising from the operation of a vessel, such as...
Luxury yacht insurance is a specialized form of insurance that covers high-value yachts and their equipment. This type of insurance typically includes coverage for damage to the yacht, as well as liability coverage for accidents or injuries that occur on board. Some of the key features of luxury yacht insurance include: * Agreed Value Coverage:...
It is the state of acquisition of Turkish citizenship by a foreigner who does not have citizenship connection with Republic of Turkey. As we have mentioned before, it is possible to be Turkish citizen by purchasing real estate at the amount of 250.000 USD. We call this acquisition of Turkish citizenship by investment or subsequent...
Citizenship for foreigners by investment or alias economic citizenship is one of the exceptional means for acquiring Turkish citizenship under paragraph a of article 12, titled “Exceptional Conditions for Acquisition of Turkish Citizenship”, of Law no. 5901 on Turkish Citizenship As it is stated in such paragraph, “Foreigners, who bring industrial facilities in Turkey, or...
Stock corporations are basically divided into two as Joint Stock Company and Limited Liability Company. Parties intending to establish a company prefer joint stock companies due to the facts that there are incentives subject to legal regulations as well as the authority to issue bonds; that company stocks are not subject to income tax; that...
Conditions (Requirements) of being Turkish citizen by marriage for foreigners have been regulated according to article 16 of Law no. 5901 on Citizenship. When a foreigner marries to a Turkish citizen, such situation does not automatically make him/her acquire the right of being Turkish citizen Under related law, following conditions should be met by the...
Apostil is a document certification system conforming authenticity of a document and ensuring legal use of such document in another country. Rules of apostil were established in Hague Convention dated October 6, 1961. Apostil rules are valid only for/between members or parties of Hague Convention. By this document certification system, the institution, such as a...
“P&I Club Insurance” (Protection and Indemnity Club Insurance) is a marine insurance which provides cover to shipowners for third-party liabilities encountered in the commercial operation of entered vessels. P&I Club Insurance is designed to complement a vessel’s hull and machinery insurance and related covers. What does the P&I Club cover? This type of insurance, which...
