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Global rules on foreign direct investment (FDI)
Cross-border acquisitions and investments increasingly trigger foreign direct investment (FDI) screening requirements.
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Global | Publication | November 2023
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As per the decision of the Minimum Wage Determination Commission dated 20 June 2023, the monthly minimum wage is increased to net TL 11,402.32 and gross TL 13,414.50 as of 1 July 2023. The total cost of minimum wage for the employer will be TL 15,762,04. The employer share of the Social Security Institution premium will be %15,5 corresponding to TL 2,079.25. These amounts will be applicable until the end of 2023.
Upon an application by employees claiming that their freedom of expression, right to a fair trial, the right to property and the legality of offences and punishments is violated by termination of the employment contracts due to the fact that employees had signed a petition on behalf of a person suspected of being a member of a terrorist organization and whom they believed to be innocent, the court of first instance and the regional court of appeal accepted the termination as valid on the grounds that it violated the relationship of trust between the employer and the employee.
The Constitutional Court (TCC) stated that the interference with the constitutionally guaranteed rights of individuals working in a private law employment relationship and the legitimate aim of the interference with the fundamental rights of the employees must be proportionate to the interference, and that relevant and sufficient grounds must be provided when making this judgement. It was not explained on what grounds the applicants' action had led to the breakdown of the relationship of trust between the employer and the employee. The TCC also considered that in order to terminate an indefinite-term employment contract, a valid reason must be provided for the termination of the employment contract and that it would not be possible to show that the behavior of the employee was a valid reason for the termination of the employment contract.
The TCC also held that the applicants had participated in a signature campaign in support of the unjust detention of a former politician who had been arrested in the district in which they worked, and that this act should be regarded as a statement of opinion concerning the agenda of the district in which they worked, and that the courts of first instance had not acted in accordance with the principles guaranteed under Article 26 of the Constitution, and that there had been a violation of freedom of expression in this context.
The Presidential Decree published in the Official Gazette numbered 7410 on July 29, 2023, extended the periods for short-term working allowances without the need for a new eligibility determination until August 7, 2023, within the scope of earthquakes occurred in Türkiye. For the employers who had applied for short-time working allowance period has been extended due to the regional crisis caused by the effects of earthquakes until May 8, 2023, without the need for a new eligibility determination. The extension period for workplaces that ended short-term working before May 8, 2023, will commence starting from May 9, 2023.
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Cross-border acquisitions and investments increasingly trigger foreign direct investment (FDI) screening requirements.
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We are delighted to announce that Al Hounsell, Director of Strategic Innovation & Legal Design based in our Toronto office, has been named 'Innovative Leader of the Year' at the International Legal Technology Association (ILTA) Awards.
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