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1-WHERE DO FOREIGN SOCIAL INSURANTS DWELLING ON IN TURKEY PERMANENTYLY OR TEMPORARLILIY,  SUBMIT THEIR INSURANCE FORUMULARY?

1-WHERE DO FOREIGN SOCIAL INSURANTS DWELLING ON IN TURKEY PERMANENTYLY OR TEMPORARLILIY,  SUBMIT THEIR INSURANCE FORUMULARY?

Foreign social insurant dwelling on in turkey permanently or temporarily, submit their insurance formulary getting from the countries they are registered, to the provincial directorate of social security institution, Foreign Transaction Services or Social Security Centers.

2- HOW FOREIGN SOCIAL INSURANTS CAN BENEFIT FROM HEALTH SERVICES FOR FREE?  
They can benefit from health services for free just as other social insurant do by getting the documents as follows except for contribution margin and patient shares:
2.1- YUPASS Number for Germany,
2.2- Health Benefit Documents of Social Security Institutions for the other contractual countries.

3- WHAT NEEDS TO BE DONE WHEN SOCIAL INSURANTS NEED EMERGENCY TREATMENET?

If social insurant need emergency treatment, health benefits provided by the countries they come from, can be attained by unites of the abroad transaction services.

Furthermore, confirming these documents in provincial directorate of social security institutions authorized by social security institutions.

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If You Employee A Private Security Guard, Do Not Forget To Take Out Compulsory Liability Insurance!

29.07.2017

1- What is the issue of compulsory liability insurance for security guards?
The insurer guarantees the damages which a security guard (employed by an insurant) brings to the third parties during doing his/her duty within the scope of legislations related to private security services.

This insurance guarantees that the insurant can defense himself/herself against unjustified requests directed to him/her in consequence of events in subject matter of insurance.

2- Who are the person and the institutions called “insurant” in subject matter of insurance?
The insurant
indicates special legal personalities and private security companies who gets official authorization according to “the Law no 5188 Related to the Security Services” for the compensation for damages done by special security guards and they must take out compulsory liability insurance in accordance with the same law.

3- What are the types of guaranties being included within the scope of compulsory liability insurance?
3.1- Life insurance: Life insurance pays a specified sum to the rights-holders if a person dies right after the inflictive event or within 2 years after the event.
3.2- Disability insurance: Disability insurance pays a specified amount if a person becomes permanently disabled right after an inflictive event or within 2 years after the event, discontinuation of medical treatment and the determination of the disability.
3.3- Treatment costs insurance: Treatment costs insurance covers the injured party’s first aid, medical examination, check-up costs and hospital charges due to control or traumatization, ambulatory or inpatient treatment and the other costs related to the treatment in hospitals or in other treatment centers.
3.4. Property insurance: Property insurance covers the costs of physical properties such as buildings, machinery and stock damaged by an inflictive event.

4- What are the conditions of absence of any disclaimer?
The insurant may get rid of responsibility (he/she or the security guard should not be in the wrong) if he/she proves that he/she or the security guard, who is held responsible, does not prevent from the inflictive event even though he/she is careful and attentive in order to prevent the inflictive event. (The event causing the loss takes place because of compelling reason, gross negligence of injured party or the third part)
If the injured party is responsible for the occurrence of the inflictive event, there will be made a reduction in the ratio of defect.

5- The circumstances out of warrant?
The indemnity claim stated below are out of warrant:

5.1- The damage and loss claims made by insurant suffering a loss,
5.2- The damage and loss claims made by the people having a relationship with employment contract or proxy ship, husband/wife of the insurant, adopted child or the siblings of the insurant,
5.3- The damage and loss claims that might be directed to the insurant because of professional liabilities of the private security guards by claiming that private security service is deficient or inadequate,
5.4- The damage and loss claims directed to the insurant by reason of the fact that private security guard does not use his/her power in jurisdiction of his/her area of responsibility or/and during period of office,
5.5- The loss claims directed to the insurant because of war, every kind of hostilities, invasion, attacks, skirmish (whether in wartime or not), civil war, revolution, rebellion, mutiny, terrorist actions identified in Anti-Terror Law no. 3713 and sabotages occurring because of these actions,
5.6- The damage and loss claims made on the ground that the security guard exceed his/her authority and/or carry out defective orders under the management of local authority and public security chief in accordance with Provincial Administration Law no 5442,
5.7- The damage and loss claim directed by the insurant to the private security guards,
5.8- The damage and loss claims directed to the insurant by reason of consequential losses,
5.9- The damage and loss claims directed to the insurant owing to the issues related to the nuclear fuel or nuclear wastes in consequence with the blast of that fuel and ionizing radiation attributed to that blast or radioactivity,
5.10- The indemnity claim because of private security service provided by people or institutions that do not have necessary permit, training and license designated by law,
5.11- The losses caused by an offender causing criminal act while being in need of guard within the scope of safety rules.
5.12- The demand for immaterial compensation,

6- Where is this insurance valid?
This insurance is valid within the boundaries of Turkey.

7- When does the insurance starts and expires?
Unless otherwise consented upon, the insurance starts and ends at 12:00 local time in Turkey in the days that are indicated as starting or ending dates in the insurance.

8- When can injured party or rights-holder apply and when is the application period?
The injured party or the rights-holder can make a direct claim to the insurant within the scope of the indemnity foreknown in the insurance policy.

The insurant has the right of compromise with the injured party or the rights-holder by making contact with him/her.

However, the insurant is not partly or wholly entitled to recognize a claim for compensation. As a result of that, the insurant cannot pay compensation to the injured party or the rights-holder without written permission of the insurer.

The event causing the loss should be reported to the insurer by the insurant within 5 days after he/she hears about it.

9- What are the liabilities of the insurant in case of risk?
In case of risk, the insurant should fulfil some obligations listed below;
9.1- He/she should report the event, which requires a liability, as soon as he/she finds it out.
9.2- Taking due precautions as if he/she did not carry insurance and for this purpose complying with the instructions given by the insurer.
9.3- At the insurer’s request, the insurant should give an information and the documents about how the inflictive event takes place, the reason and the circumstances of it in order to provide convenience while identifying its consequences and using the right to take benefit from indemnity and revocation.
9.4- The insurant should give information about every kind of notification, invitation and related documents concerning to the claims and/or criminal proceedings to the insurer in the event that he/she is demanded compensation or experiences criminal proceedings against him/herself because of a damage or loss.
9.5- If there is any other insurance agreements related to the subject matter of insurance, the insurant should inform the insurer about them.

10- How can the compensation be paid?
The insurer pays the amount of indemnity stated in the policy within 8 working days; henceforth, he/she receives the documents completely.

11- If the indemnity is not paid on time, what should be done?
In the event that the indemnity is not paid on time without justifiable reasons, the insurer goes into default and there will be applied legal default interest [1] to the amount of unpaid indemnity.

Default interest is not regarded as a payment made within the boundaries of indemnity. If injured party or rights-holder presents a case about this insurance, the insurer will follow the case as specified in the policy and the insurant should give a power of attorney to a lawyer identified by the insurer. The insurer will pay cost of proceedings and attorney fee. If the amount of indemnity is more than the insurance amount, the insurer will pay these costs according to the indemnity rate of the insurance amount.

1- Default interest: It is a kind of interest rate charged to a borrower when payments are overdue.

Source: The Law No 5188 Related to the Security Services

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How Turkish Citizens Living in Turkey can declare incomes from movable capitals?

How Turkish Citizens Living in Turkey can declare incomes from movable capitals?

Turkish citizens living in abroad more than six months by obtain work or residence permit, have limited liability to tax.

If the taxation of income is over incomes from movable capitals of the Turkish citizens, having limited liability to tax, there will be no need to give declaration.

The ones who have limited liability to tax, are supposed to pay tax and give declarations of the earnings over incomes from movable capitals which are not subject to tax cut, within 15 days.

 

 

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Can one use letters which are not in Turkish alphabet in company titles?

Can One Use Letters Which Are Not In Turkish Alphabet In Company Titles?

According to the communique about business names established in the Official Gazette numbered 28913 and dated 14.02.2014, now it is possible to use letters which are not included in Turkish Alphabet like W, X, Q in the root of the company title.

Before the enactment of New Turkish Commercial Code, the companies with foreign partners could use foreign letters in their company titles. However, companies consisting of Turkish shareholders couldn’t use those letters. This restriction was abrogated with this amendment.

Now, everyone can use letters that are not included in Turkish Alphabet in the root of the company title.

Moreover, on condition that the shareholders of a company were consisting of Turkish citizens, they couldn’t use foreign names corresponding in Turkish according to the previous communique (such as, White Tarım Co. Ltd.). Nevertheless, all of the companies might use foreign words in the company title with this amendment.

The amendments done with the communique and some points about the new implementation are indicated below.

1- Business Names;
One can designate business names without constraint only if the field of operation and the expressions related to the kind of Corporation is Turkish.

SAMPLES

  • Blue Sea Denizcilik Ltd. ŞTİ. (Proper)
  • Blue Sea Maritime Ltd. ŞTİ. (NOT proper. The sector name should be Turkish. There should be written ‘’Denizcilik’’ instead of ‘’Maritime’’.

2- It is not allowed to use information that might give false impressions in business names of the company.
The expressions in the business name that might give false impressions about the identity of the trader, the scale, importance and financial condition of an enterprise for the third parties cannot be used and contrary to facts.

3- The expressions in business names cannot be contrary to local legislation, implementation and values.
(3) The expressions in business names cannot be against public order, national interests and morals and tarnish cultural and historical values.

4- Some words used in business names are subject to approval of Council of Ministers.
Words that are “Türk(Turkish)”, “Türkiye(Turkey/Turkiye)”, “Cumhuriyet(Republic)” and “Milli(National)” should be used plain, simple and thorough with the approval of Council of Ministers.

In accordance with articles 41 and 42 of the Turkish Commercial Code, If these words are involved in the name or the surname of the real person that should be used in business name, then it will not be obligatory to get the approval of Council of Ministers.

5- At least one sector should be stated in the company title.
It is obligatory to state at least one sector in the title of corporations and limited companies. There shouldn’t be any abbreviations in the expressions about the field of operation.

6- Pay attention to the incorporation of Holdings…
There should be written “holding” in the title of corporations whose primary objective is incorporating into another enterprises.

7- Place names can be used, but country names are subject to approval.
Officially identified place names can be used in business names; however, it is obligatory to get an approval from the competent authorities of related countries in order to use country names.

8- It is forbidden to use the names of state institutions and organizations.
It is forbidden to use the names of state institutions and organizations, other national and international agencies or abbreviated names defining those institutions in business names. Nevertheless, state institutions and organizations are allowed to use their own names and abbreviations in business names of the companies which they operate or in which they have shares.

9-If the record of a company is cancelled in the Trade Registry, someone else might use that title 5 years later.
The title of a company which is cancelled in the Trade Registry cannot be used by another trader again, because he/she should wait 5 years from the date when the declaration regarding to the disenrollment is published in Turkey Trade Registry Gazette.

10- What is the condition of using a title registered previously?

  • If a business name is registered previously in a registry of commerce in Turkey, it cannot be registered without making a distinctive addendum in order to distinguish it from the previous one.
  • If a business name registered previously has the same addendum and the first expression indicating the field of operation with the newly-established company, it cannot be registered without making distinctive amendments within the scope of article 46 of the Turkish Commercial Code.

Sample-1: If a title called “A İnşaat Otomotiv Tekstil Sanayi ve Ticaret Anonim Şirketi” is registered previously, the title called “A İnşaat Tekstil Turizm Sanayi ve Ticaret Anonim Şirketi” cannot be registered without making a distinctive addendum.

  • If the two companied share the same addendum in their titles, but their first expressions indicating the field of operation are different, that title can be registered without making an addendum.

Sample-2: If a title called “B İnşaat Otomotiv Sanayi Anonim Şirketi” is registered previously, the title called “B Turizm İnşaat Sanayi Anonim Şirketi” can be registered without making an addendum.

  • If the two companies have the same expressions indicating company type in their titles, that title cannot be registered without making a distinctive addendum.

Sample-3: If a title called “C Turizm Limited Şirketi” is registered previously, a title called “C Turizm Anonim Şirketi” cannot be used without making a distinctive addendum.

______________________________________________________________________________________________
Source: The Communique about Business Names Established in the Official Gazette Numbered 28913 and Dated 14.02.2014 Date: 26 January 2017
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.
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The Number of R&D Centers Has Risen to 350!

22.07.2017

The 350th R&D center certificate was given to Fibrobeton Building Elements Industry, Construction and Trade Inc. which operates in Düzce.
‘’Our target in this year is to increase the number of R&D centers in Turkey to one thousand. We have 350 R&D centers right now, this is an ambitious target; nevertheless, we will achieve. As we know that there are a lot of companies which are capable of opening R&D centers in Turkey.’’ said Minister of Science, Industry and Technology Faruk Özlü.
In the 350th R&D center certificate meeting, Minister Özlü indicates that R&D centers are introduced by the ministry in order to develop an industry based on technology in Turkey.

Fibrobeton is the 5th company that gets the R&D center certificate in DUZCE.

Source: sanayi.gov.tr

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It Is Easy to be a Turkish Citizen Now!

24.07.2017

Buy a House in the Value of 1 Million Dollar and Then Become a Turkish Citizen!
According to the Legislation related to Turkish Citizenship Law published in Official Gazette no. 29946 and dated 12.01.2017;

A foreigner, who fulfils the conditions stated below, can become a Turkish Citizen with the proposal of the Ministry and the Council of Ministers’ Decision within the scope of the clause (b) of the article 1 of the Law numbered 12.

– A person who invests capital valuing at least 2.000.000(USD) (it should be confirmed by the Ministry of Economy),

– A person who buys a property valuing at least 1.000.000 USD under the condition that there should be an annotation in Title Deed Registry that it cannot be sold for 3 years (it should be confirmed by the Ministry of Environment and Urbanization.),

– A person who provides employment for at least 100 people(it should be confirmed by the Ministry of Labor and Social Security),

– A person who pays money valuing at least 3.000.000 USD in banks in Turkey providing that he/she should keep that account for 3 years (it should be confirmed by the Banking Regulatory and Supervisory Agency.),

– A person who buys official debt instruments valuing at least 3.000.000 USD which he/she will keep it for 3 years (it should be confirmed by the Under secretariat of Treasury).

***We base on Current exchange rate of the Central Bank of the Turkish Republic in the date of determination while determining the monetary value.

Source: Official Gazette (Dated 12.01.2017 – Numbered 29946)

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Bringing Export Proceeds to Turkey

24.07.2017

1.Savings of Export Proceeds
1.1.
“Export proceeds can be freely saved by those concerned” within the scope of Communique numbered 2008-32/34 with Cabinet Decree related to “Decision about Doing Modifications on the Decision numbered 32 on Protection of the Value of Turkish Currency” dated 08.02.2008 and numbered 2008/13186. Those amounts can be either saved in foreign currency accounts or used by changing into Turkish Lira.

1.2. In the event of changing export proceeds into Turkish Lira, banks should prepare Foreign Exchange Purchase Document. It is possible to write the data related to company’s declaration and customs declaration on Foreign Exchange Purchase Document without demanding any other document from exporter companies which require purchase document in order to export.

1.3. If a company demands to prepare Foreign Exchange Purchase Document while exporting with Turkish Lira, it can do it. However, in case of export with private invoice, it is required to act upon views and instructions of Ministry of Economy and Undersecretariat of Foreign Trade.

1.4. In case of purchasing foreign exchange as export proceeds, it is required by banks that foreign exchange should be originated from abroad.

2.Collecting Export Proceeds
It can be collected;
2.1. via banks as a money order
2.2. in cash/effective (by the third persons who reside abroad or in Turkey and declare that they are importer, exporter or those who act on behalf of them)
2.3. via cheque (by the third persons who reside abroad or in Turkey and declare that they are importer, exporter or those who act on behalf of them)
2.4. via credit card

3.Export proceeds can also be collected as a credit given to real persons or legal entities or issued by the banks in Turkey or abroad.
4.It is possible to transfer export proceeds to Foreign Exchange Deposit Account and collect it wholly or in part from that account as export proceeds.
5.One can get export proceeds on behalf of manufacturing or exporting company from Foreign Exchange Deposit Account opened on behalf of a person or a company (which has a proxy) with foreign exchange on condition that power of attorney should be prepared before exporting.

3.Cash/Effective Collection of Export Proceeds
3.1.
Customs Administration should detect with certified Cash Flow Statement whether effective export proceeds brought from abroad or not.
3.2. In order to get the effective being subject for Cash Flow Statement as export proceeds;
-It should be openly stated in the field of “Reason for Arrival” that the source of the effective is “export”.
-Identification of the person who submits Cash Flow Statement is compulsory.
-Written statement of exporter is also needed.

In the event that the amount of effective registered in Cash Flow Statement is completely attached to Foreign Exchange Purchase Document, it should be kept in by the bank without giving the original ones to those concerned. In the event that it is partially attached, the original one should be given to those concerned after writing a note on Cash Flow Statement about the amount attached to Foreign Exchange Purchase Document and make a photocopy of it.

3.3. Effectives delivered to the banks and registered in Cash Flow Statement can be sold to the banks by those concerned or can be transferred to Foreign Exchange Deposit Account opened in the name of foreign purchaser or exporter in Turkey. Afterwards, Foreign exchanges transferred to Foreign Exchange Deposit Account can be collected on behalf of exporting company. In the event that effectives registered in Cash Flow Statement is transferred in Foreign Exchange Deposit Account completely, it should be kept in the bank without giving the original ones to those concerned. In the event that it is partially collected, , the original one should be given to those concerned after writing a note on Cash Flow Statement about the amount attached to Foreign Exchange Purchase Document and make a photocopy of it.

3.4. Collecting the effective as export proceed by a bank (in the event that export proceed received as a transfer by those concerned is collected as effective from the bank) can be done providing that document of intermediary bank, which proves that effectives come from abroad, is submitted or the bank, which carries out transaction, gets the confirmation that foreign exchange (being a subject for effective) comes as a transfer.

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A Complete Support For Domestic Software From Industrial Ministry

25.07.2017

1- What is the purpose of support in domestic software sector?
In software sector, Turkey aims to
1.1-provide a competitive advantage in international arena
1.2-generate special support mechanisms in the sector in order to increase its market share.

2- What is the purpose of the plan prepared by the Ministry of Science, Industry and Technology?
The Ministry of Science, Industry and Technology determined a road map in order to
2.1-comply with the transformation depending on software-based technologies
2.2-present competitive products in international arena

3-Which programs will be prepared in order to execute this plan?
One of the most important titles of this plan is ‘’to enhance competitiveness in international arena’’.
In order to achieve the goal;
3.1-Priority areas of Turkey that make a difference in international software sector will be determined.
3.2-Thematic support areas will be prepared for entrepreneurs who incline to these priority areas.

4-Which institutions and organizations will support the activities done by the Scientific and Technological Research Council of Turkey (TÜBİTAK)?
The institutions and organizations that support the activities done by the Scientific and Technological Research Council of Turkey (TÜBİTAK):
4.1-Ministry of Science, Industry and Technology
4.2-Ministry of Development
4.3-Small and Medium Enterprises Development Organization (KOSGEB), Turkish Standards Institute (TSE)
4.4-Development Agency
4.5-Nongovernmental Organizations (STK)
4.6-Universities
4.7-Related State Institutions and Organizations

5-Which sectors will be promoted with support program at the end of the studies?
Especially, the areas that will provide a competitive advantage and have strategic importance like
5.1-Cloud Computing
5.2-Internet of Things
5.3-Huge Data
5.4-Game Software
5.5-Smart Applications
5.6-Security Software
will be determined and generated thematic support programs by taking advantage of the funds of European Union, Scientific and Technological Research Council of Turkey (TÜBİTAK) and so forth.

6-What is the editing purpose of software accelerator program?
Particularly, this program will be used for
6.1-technology development areas
6.2-software companies in the areas where the sector is well-supported
6.3-their entrepreneurs

7-In which sectors will the commercialization of the software products be supported?
The commercialization of software products will be supported in technology development areas anticipated to serve the information sector, in the areas where software sector is intensive and in national and international areas.

8-What kind of support programs will be formed in order to make contact within the scope of commercialization?
8.1-Education
8.2-Mentorship
8.3-Making national and international contacts
8.4-There will be formed mechanisms aimed at developing financial and technical facilitation support programs and including bringing investors and entrepreneurs together.

9-Which criteria are important while evaluating the software sector?
Software sector is important, because it provides
9.1-Low-cost investment
9.2-Qualified
9.3-Large amount of employment
9.4-Products with high added value

10-Which concepts and practices (known as New Industrial Revolution) rest upon software based technology?
Technologies like
10.1-Industry 4.0
10.2-Artificial Intelligence
10.3-Robotics Equipment
10.4-Smart Production System
10.5-3-D Printers
10.6-Internet of Things
10.7-Huge Data
10.8-Cloud Computing rest upon software based technology.

Source: sanayi.gov.tr

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Should Companies Apply to E-Book for Their Branches?

SHOULD COMPANIES APPLY TO E-BOOK FOR THEIR BRANCHES?
No.
Companies apply to E-Book through their tax identification number. After the application, companies are able to form their own books and certificates for their registered offices and branches separately by means of compatible software that they prefer.

Source: Revenue Administration

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