From emerging regulation to deal mechanics, we write about the questions founders and investors actually ask — practical analysis you can put to work.
Independent Audit (Bağımsız Denetim) under Turkish Commercial Code Article 397 is the mandatory third-party audit requirement applicable to Turkish companies meeting defined size thresholds — providing assurance over financial statements, internal controls, and compliance with applicable accounti…
A capital increase (sermaye artırımı) is the issuance of new shares by a Turkish corporation, increasing the company’s registered capital and the total shares outstanding.
The Pay Defteri (Share Register) is the official ledger of a Turkish Anonim Şirket (A.Ş.) recording ownership of registered shares (nama yazılı paylar) — who owns which shares, when ownership transferred, and any restrictions or pledges affecting the shares.
A Turkish Limited Şirketi (Ltd. Şti.) is the Turkish closely-held company structure analogous to the U.S. LLC, German GmbH, or French SARL — providing limited liability, simplified governance, and lower regulatory burden compared to the Anonim Şirket (A.Ş.).
The Articles of Association (Esas Sözleşme) are the constitutional document of a Turkish corporation — the contract among shareholders that establishes the company’s formation, governance structure, share-class architecture, decision-making rules, and operational boundaries.
Substance requirements in international tax are the minimum levels of genuine economic activity, decision-making capacity, and operational presence that an entity must maintain in its jurisdiction of formation to be respected as a tax-resident, qualify for treaty benefits, or avoid recharacteriza…
BEPS Pillar 2 (also called the Global Anti-Base Erosion Rules, or GloBE) is the OECD/G20 framework establishing a 15% global minimum effective tax rate on large multinational enterprises (MNEs) — groups with consolidated revenue of €750M+.
A Controlled Foreign Corporation (CFC) is a foreign entity in which residents of a particular country hold a controlling interest — typically defined as 50%+ ownership by residents, often with attribution rules aggregating related parties.
Treaty shopping is the practice of structuring transactions or entities to access tax-treaty benefits that the ultimate beneficial recipient would not directly qualify for — typically by interposing an intermediate entity resident in a treaty jurisdiction with more favorable treaty terms than the…
A beneficial owner in international tax-treaty context is the person who has the actual right to enjoy and dispose of income — as opposed to nominal recipients who merely act as conduits, agents, or trustees on behalf of others.
