Foreign institutions with losses from Turkey’s 2026 market manipulation and fund cases often have a choice of forum. They may sue the issuers, directors, auditors and individuals concerned in Turkey, or they may consider proceedings in their own country or in a financial centre where some defendants or assets are found. The choice turns on where the defendants and their assets are. Most of them, and most of their assets, are in Turkey, and a foreign judgment can be enforced in Turkey only after a Turkish court grants an enforcement decision under strict conditions, including reciprocity with the state of origin. This guide explains when Turkish courts have international jurisdiction, how choice-of-court agreements work, which law governs investor claims, the conditions and procedure for recognising and enforcing foreign judgments and arbitral awards in Turkey, and the international conventions on service, evidence, legalisation and security for costs that apply between Turkey and many investors’ home states. It reflects the legislation in force as at 25 October 2026.
- The real question: where are the defendants and assets?
- When Turkish courts have jurisdiction
- Choice-of-court agreements
- Which law governs the claim
- Enforcing a foreign judgment in Turkey
- The enforcement procedure
- Recognition without enforcement
- How a Turkish judgment compares
- Arbitral awards
- Conventions on service, evidence and documents
- Foreign documents and evidence in Turkish proceedings
- State-owned investors as parties
- A practical sequence for choosing a forum
- Suing in Turkey or abroad: a comparison
- Limitation when suing abroad
- Frequently asked questions
- Related guides
The real question: where are the defendants and assets?
A judgment is useful only where it can be enforced. In the 2026 cases, the potential defendants are mainly Turkish: listed companies, their board members and managers, audit firms, portfolio management companies, brokerages and individuals named in SPK bulletins and the criminal file. Their assets are mainly in Turkey, and some have been seized in the criminal investigation. Any judgment obtained abroad would therefore have to pass through Turkish enforcement proceedings before it could reach those assets.
Two further points follow. Interim relief abroad does not freeze assets in Turkey, because only final foreign judgments can be enforced (Law No. 5718 on International Private and Procedural Law, Art. 50(1)); assets in Turkey are secured through Turkish precautionary measures, as explained in Freezing Assets in Turkey for Investor Claims. And the criminal file, which is often the best evidence, is in Turkey, where investors can take part as explained in Joining a Criminal Case in Turkey as a Foreign Investor.
Key point: A foreign judgment against a Turkish defendant is enforced in Turkey only if, among other conditions, there is reciprocity between Turkey and the state of origin, established by treaty, by a statutory provision or by actual practice (Law No. 5718 Art. 54(1)(a)). Where reciprocity cannot be shown, a judgment obtained abroad may not be enforceable against assets in Turkey at all.
When Turkish courts have jurisdiction
The international jurisdiction of Turkish courts is determined by the domestic rules on venue (Law No. 5718 Art. 40(1)). If a Turkish court would have venue over a case under domestic law, it also has international jurisdiction. For investor claims the main rules are:
Venue rules that give Turkish courts jurisdiction over investor claims
| Rule | Court | Basis |
|---|---|---|
| General venue | The court of the defendant’s domicile when the action is brought | Code of Civil Procedure Art. 6(1) |
| Several defendants | The court of the domicile of any one of them | Art. 7(1) |
| Tort claims | Also the court of the place where the act was committed or the loss occurred or may occur, or of the injured party’s domicile | Art. 16 |
| Claims against founders, directors, managers and auditors | Also the commercial court at the company’s registered office | Turkish Commercial Code Art. 561 |
| Branch transactions | Also the court where the branch is located, for claims arising from its transactions | Code of Civil Procedure Art. 14(1) |
| Disputes between a company and its members, in that capacity | Exclusively the court of the company’s seat | Art. 14(2) |
| Real rights in immovable property | Exclusively the court where the property is located | Code of Civil Procedure Art. 12(1) |
Exclusive venue rules matter for foreign proceedings too. Where Turkish law gives a court exclusive venue, such as the court of the company’s seat for disputes between a company and its shareholders arising from the membership relationship (Art. 14(2)), a foreign judgment on such a matter may face the objection that it concerns a matter within the exclusive jurisdiction of Turkish courts (Law No. 5718 Art. 54(1)(b)).
Because the manipulation, the misleading disclosures and the trading took place in Turkey, and the defendants are domiciled there, Turkish courts will usually have jurisdiction over claims against them on more than one ground. A foreign investor does not need any connection with Turkey other than the claim itself to sue there, though it may have to give security for costs (Law No. 5718 Art. 48).
Choice-of-court agreements
Where venue is not exclusive, parties to a dispute with a foreign element arising from obligations may agree that it will be heard by the courts of a foreign state; the agreement is valid if proved by written evidence (Law No. 5718 Art. 47(1)). A case covered by such an agreement is heard by the competent Turkish court only if the foreign court declines jurisdiction or the defendant does not object to the jurisdiction of the Turkish court (Art. 47(1)). The jurisdiction of the courts specified for employment, consumer and insurance contracts cannot be excluded by agreement (Art. 47(2)).
Choice-of-court clauses matter mainly in contractual relationships: investment management agreements with external managers, custody agreements and brokerage agreements. They do not bind persons with whom the investor has no contract, such as individuals who manipulated prices, issuers whose disclosures were misleading, or their directors and auditors. Claims against those persons are tort and statutory claims, and the venue rules above apply to them.
Contact Hukukçular Evi Ankara
For questions on jurisdiction in Turkey and on recognising or enforcing foreign judgments and arbitral awards in Turkey in connection with the 2026 fund and manipulation cases, you can reach our office by phone or WhatsApp. We correspond in English. Hukukçular Evi Ankara: +90 554 648 37 15
Which law governs the claim
A Turkish court applies Turkish conflict-of-laws rules to determine the applicable law. For investor claims the relevant rules are:
- Torts. Obligations arising from a tort are governed by the law of the country where it was committed; where the act and the loss occur in different countries, the law of the country where the loss occurred applies; where the relationship is more closely connected with another country, that country’s law applies; and the parties may expressly choose the applicable law after the event, without affecting third parties’ rights (Law No. 5718 Art. 34(1)–(3) and (5)).
- Contracts. Contractual obligations are governed by the law the parties have expressly chosen, or a choice that is clear from the contract or the circumstances; absent a choice, by the law most closely connected with the contract, usually the law of the habitual residence or place of business of the party performing the characteristic obligation (Art. 24(1) and (4)).
- Overriding mandatory rules. Where a foreign law applies, Turkish rules that are directly applicable by reason of their purpose and scope still apply (Art. 6(1)).
- Limitation. Limitation is governed by the law applicable to the substance of the legal relationship (Art. 8(1)).
For claims based on manipulation and misleading disclosure on Borsa Istanbul, these rules will in most cases lead to Turkish law, including the Capital Markets Law’s disclosure provisions and its six-month limitation period (Capital Markets Law Art. 32(6)), explained in Prospectus and Disclosure Liability in Turkey. A foreign court hearing the claim would apply its own conflict rules, but a Turkish defendant can be expected to argue for Turkish law and Turkish limitation periods.
Enforcing a foreign judgment in Turkey
Judgments of foreign courts in civil matters that have become final under the law of the state that gave them can be enforced in Turkey only after a competent Turkish court grants an enforcement decision (tenfiz) (Law No. 5718 Art. 50(1)). Provisions on personal rights in foreign criminal judgments can also be enforced (Art. 50(2)). The court grants enforcement on four conditions (Art. 54(1)):
Conditions for enforcing a foreign judgment
| Condition | What it requires | Article |
|---|---|---|
| Reciprocity | A reciprocal agreement between Turkey and the state of origin, or a statutory provision or actual practice in that state allowing enforcement of Turkish judgments | Law No. 5718 Art. 54(1)(a) |
| Jurisdiction | The judgment is not on a matter within the exclusive jurisdiction of Turkish courts, and, if the defendant objects, was not given by a court that took jurisdiction without any real connection with the subject matter or the parties | Art. 54(1)(b) |
| Public policy | The judgment is not manifestly contrary to public policy | Art. 54(1)(c) |
| Right to be heard | The defendant was duly summoned and represented under the law of the state of origin and not judged in its absence contrary to that law; this is examined if the defendant objects on that ground | Art. 54(1)(ç) |
The reciprocity requirement is the most important practical hurdle for an investor considering a foreign forum. It is satisfied by a treaty, by a provision of the foreign state’s law, or by evidence that the foreign state’s courts actually enforce Turkish judgments. The position differs from country to country and should be checked for the specific state of origin before proceedings abroad are chosen with enforcement in Turkey in mind.
The enforcement procedure
Enforcement is sought from the civil court of first instance (asliye mahkemesi) (Art. 51(1)), at the domicile of the person against whom enforcement is sought, or failing that its residence, and if it has neither in Turkey, from a court in Ankara, Istanbul or Izmir (Art. 51(2)). Anyone with a legal interest in enforcement may apply by petition, which states the parties, the court and judgment concerned with a summary, and any part of the judgment for which enforcement is sought (Art. 52(1)).
Enforcement of a foreign judgment step by step
| Step | Rule | Article |
|---|---|---|
| Documents | The duly certified original judgment or a copy certified by the court that gave it, with a certified translation; a duly certified document showing that the judgment is final, with a certified translation | Law No. 5718 Art. 53(1) |
| Service and hearing | The petition is served on the other side with the hearing date; the case is decided under the simple procedure | Art. 55(1) |
| Defences | Limited to the absence of the conditions for enforcement, or to the judgment having been performed in whole or in part, or an obstacle to performance having arisen | Art. 55(2) |
| Decision | Enforcement in whole or in part, or rejection; the decision is written under the foreign judgment and sealed and signed by the judge | Art. 56(1) |
| Effect | The foreign judgment is enforced like a Turkish judgment | Art. 57(1) |
| Appeal | Appeals follow the general rules, and an appeal suspends enforcement | Art. 57(2) |
Compensation awarded to a victim in a foreign criminal judgment can also be enforced in Turkey, since enforcement may be sought for provisions on personal rights in foreign criminal judgments (Art. 50(2)). Where a foreign proceeding produces several judgments, for example against different defendants, each must satisfy the conditions separately.
The Turkish court does not re-examine the merits. Its review is confined to the conditions in Art. 54 and the defences in Art. 55(2). Documents issued in a state party to the Apostille Convention are certified by apostille rather than by consular legalisation.
Recognition without enforcement
A foreign judgment can also be relied on in Turkey as res judicata or as conclusive evidence, for example to prevent the same claim being brought again or to prove facts it established. This requires the court to find that the judgment meets the conditions for enforcement, except that reciprocity is not required for recognition (Law No. 5718 Art. 58(1)). The same procedure applies where an administrative act is to be carried out in Turkey on the basis of a foreign judgment (Art. 58(3)). The res judicata and conclusive evidence effects run from the date the foreign judgment became final (Art. 59(1)).
Recognition is therefore available against judgments from states that do not enforce Turkish judgments, but it does not allow execution against assets. An investor that needs to collect money from assets in Turkey needs an enforcement decision, and with it, reciprocity.
How a Turkish judgment compares
The difference between a Turkish judgment and a foreign one is not only reciprocity but timing. A Turkish money judgment can be enforced before it becomes final: an appeal does not stop enforcement (Code of Civil Procedure Art. 367(1)). Enforcement begins when the judgment is lodged with the enforcement office, which serves an enforcement order requiring payment within seven days (Enforcement and Bankruptcy Law Art. 32). A debtor who appeals can obtain a stay of enforcement only by depositing the amount awarded or providing security accepted by the enforcement court, such as a reliable bank guarantee, or where assets covering the amount are already attached (Art. 36). Judgments on personal status, family law and real rights in immovable property are enforced only once final (Code of Civil Procedure Art. 367(2)), but investor claims are money claims.
A foreign judgment, by contrast, must first be final under the law of the state of origin (Law No. 5718 Art. 50(1)), then pass through enforcement proceedings in Turkey, and an appeal against the Turkish enforcement decision suspends execution (Art. 57(2)). For an investor whose aim is recovery from assets in Turkey, a Turkish judgment is generally the faster route to payment.
Arbitral awards
Foreign arbitral awards that are final and enforceable, or binding on the parties, can be enforced in Turkey (Law No. 5718 Art. 60(1)). Enforcement is sought from the civil court of first instance agreed by the parties in writing, or failing agreement, at the domicile or residence in Turkey of the losing party, or where assets subject to enforcement are located (Art. 60(2)). The petition attaches the arbitration agreement or clause, the final and enforceable or binding award, and certified translations (Art. 61(1)).
Turkey is a party to the 1958 New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards, in force for it since 30 September 1992. It applies the Convention only to awards made in the territory of another contracting state and only to differences arising from legal relationships considered commercial under Turkish law. Norway, among others, is also a party.
Grounds on which a Turkish court refuses enforcement of a foreign award
| Ground | Burden of proof | Article |
|---|---|---|
| No arbitration agreement or clause | Examined by the court | Law No. 5718 Art. 62(1)(a) |
| Award contrary to morality or public policy | Examined by the court | Art. 62(1)(b) |
| Dispute not arbitrable under Turkish law | Examined by the court | Art. 62(1)(c) |
| Party not duly represented, not informed of the appointment of arbitrators or deprived of the opportunity to present its case | The party resisting enforcement | Art. 62(1)(ç)–(d) and (2) |
| Invalid arbitration agreement; irregular composition or procedure; award beyond the scope of the agreement | The party resisting enforcement | Art. 62(1)(e)–(g) and (2) |
| Award not final, not enforceable or binding, or set aside where made | The party resisting enforcement | Art. 62(1)(h) and (2) |
Disputes over real rights in immovable property, and disputes arising from matters not subject to the parties’ will, are not arbitrable (Code of Civil Procedure Art. 408). In practice, arbitration is relevant to investors mainly in contractual disputes with managers, custodians or brokers whose agreements contain arbitration clauses. Claims against manipulators, issuers, directors and auditors with whom the investor has no arbitration agreement are brought in court.
Hukukçular Evi Ankara
Ankara-based law office, Av. Fatma Öztürk. Telephone and WhatsApp: +90 554 648 37 15. We correspond in English.
Conventions on service, evidence and documents
Several Hague Conventions simplify cross-border litigation between Turkey and the home states of many foreign investors. The table shows their status for Turkey and, as an example, Norway.
Hague Conventions in force for Türkiye and Norway
| Convention | What it does | Türkiye | Norway |
|---|---|---|---|
| Service Convention of 15 November 1965 | Transmission of judicial documents for service abroad through central authorities | In force since 28 April 1972 | In force since 1 October 1969 |
| Evidence Convention of 18 March 1970 | Taking of evidence abroad through letters of request | In force since 12 October 2004 | In force since 7 October 1972 |
| Apostille Convention of 5 October 1961 | Replaces consular legalisation of public documents, such as notarised powers of attorney and certified judgments, with an apostille | Party | Party |
| Civil Procedure Convention of 1 March 1954 | Among other things, restricts security for costs imposed solely because a claimant is a foreign national of a contracting state | Party | Party |
The Civil Procedure Convention interacts with the Turkish rule that foreign claimants must give security for costs unless exempted on the basis of reciprocity (Law No. 5718 Art. 48). Powers of attorney signed abroad for Turkish proceedings must be notarised and, between Apostille states, apostilled (Code of Civil Procedure Art. 76). These practical points are explained in Representing Foreign Institutional Investors in Turkish Capital Markets Disputes.
Foreign documents and evidence in Turkish proceedings
A party relying on a document written in a foreign language must submit a translation, and the court may of its own motion or at the other side’s request require an official translation (Code of Civil Procedure Art. 223). Official documents prepared by foreign authorities have that status in Turkey if certified by the competent authority of the issuing state or by the Turkish consulate, subject to international conventions on certification to which Turkey is party (Art. 224), in practice the Apostille Convention. Witnesses who do not speak Turkish are heard through an interpreter (Art. 263(1)).
For an institution, the practical consequences are that trade records, custody statements, internal approvals and correspondence relied on in Turkish proceedings need translation, and that powers of attorney, certificates of incorporation and similar documents issued abroad need an apostille or consular certification. Evidence held by persons abroad can be obtained through the Hague Evidence Convention, and documents in the hands of Turkish parties or institutions can be the subject of production orders (Code of Civil Procedure Arts. 220 and 221).
State-owned investors as parties
Sovereign wealth funds and other state-owned investors sometimes ask whether their status affects litigation in Turkey. Turkish law grants no immunity from jurisdiction to a foreign state in disputes arising from private-law relationships, and in such disputes documents may be served on the foreign state’s diplomatic representatives (Law No. 5718 Art. 49). A claim by a state-owned investor for losses on shares bought on the exchange, and any counterclaim against it, are private-law disputes. Its position as claimant is therefore governed by the ordinary rules described in this guide, including security for costs (Art. 48) and powers of attorney (Code of Civil Procedure Art. 76). Questions of the investor’s own legal form, for example whether it acts through a central bank or a separate entity, affect matters such as who signs the power of attorney and whether particular remedies, such as an individual application to the Constitutional Court, are available.
A practical sequence for choosing a forum
- Map defendants and assets. Identify who is liable and where their assets are. If the assets are in Turkey, a Turkish judgment, or a foreign judgment that can be enforced in Turkey, is needed.
- Check reciprocity early. If a foreign forum is considered, establish whether its judgments can be enforced in Turkey under Law No. 5718 Art. 54(1)(a).
- Review contracts. Check choice-of-court and arbitration clauses in management, custody and brokerage agreements (Arts. 47 and 60–62).
- Protect Turkish limitation periods. Diarise the six-month disclosure period and other Turkish periods, which may apply even if the case is heard abroad (Art. 8).
- Secure assets in Turkey. Interim measures are obtained from Turkish courts (Enforcement and Bankruptcy Law Art. 257; Code of Civil Procedure Art. 389).
- Prepare documents. Apostilled powers of attorney and translations of key documents (Code of Civil Procedure Arts. 76, 223 and 224).
Suing in Turkey or abroad: a comparison
Main differences between a Turkish and a foreign forum
| Issue | Proceedings in Turkey | Proceedings abroad |
|---|---|---|
| Jurisdiction over Turkish defendants | Usually clear: domicile, place of the act or loss, company seat | Depends on the foreign court’s rules; exorbitant jurisdiction can block enforcement if the defendant objects (Law No. 5718 Art. 54(1)(b)) |
| Applicable law | Usually Turkish law for manipulation and disclosure claims (Art. 34) | Determined by the foreign court’s conflict rules; Turkish law may still apply |
| Interim measures over assets in Turkey | Available directly (precautionary attachment, interim injunction) | Not enforceable in Turkey; Turkish measures still needed |
| Access to the criminal file | Through participation in the Turkish criminal case | Indirect; evidence must be obtained in Turkey |
| Collecting from assets in Turkey | Direct enforcement of the Turkish judgment | Separate enforcement action in Turkey; reciprocity required |
| Timing of enforcement | A money judgment can be enforced pending appeal unless the debtor gives security (Code of Civil Procedure Art. 367(1); Enforcement and Bankruptcy Law Art. 36) | Must be final abroad, then enforced in Turkey; an appeal against the enforcement decision suspends execution (Law No. 5718 Art. 57(2)) |
| Limitation | Turkish periods; filing interrupts limitation | Effect of foreign filing on Turkish limitation should not be assumed |
Limitation when suing abroad
Because limitation is governed by the law applicable to the substance (Law No. 5718 Art. 8(1)), and that will often be Turkish law, the short Turkish periods continue to matter even if an investor sues abroad: six months from the loss for disclosure claims (Capital Markets Law Art. 32(6)), two years from knowledge for tort claims with a longer period where the act is a crime (Turkish Code of Obligations Art. 72), and two years from knowledge for claims against directors and auditors (Turkish Commercial Code Art. 560). Under Turkish law, limitation is interrupted when the creditor applies to a court or arbitral tribunal by action or defence, starts enforcement proceedings or lodges a claim in bankruptcy (Turkish Code of Obligations Art. 154(2)). Whether proceedings before a foreign court have this effect, and whether a later Turkish court would treat them as doing so, should not be assumed. An investor relying on a foreign forum should consider protecting its position in Turkey within the Turkish periods, for example through a partial claim that can later be increased (Code of Civil Procedure Art. 109(4)).
Turkish law does not provide for a Turkish court to decline jurisdiction or stay its proceedings because the same dispute is pending abroad; a foreign judgment produces effects in Turkey only once it has become final and is recognised or enforced (Law No. 5718 Arts. 58 and 59). Parallel proceedings in Turkey and abroad are therefore possible, but they multiply cost and create a risk of inconsistent results.
Frequently asked questions
Can a foreign investor sue Turkish defendants in Turkey?
Yes. Turkish courts have international jurisdiction where they have venue under domestic rules (Law No. 5718 Art. 40), including the defendant’s domicile and, for torts, the place of the act or of the loss (Code of Civil Procedure Arts. 6 and 16).
Will a judgment from my home country be enforced in Turkey?
Only if a Turkish court grants enforcement. The judgment must be final, there must be reciprocity with the state of origin, it must not concern a matter of exclusive Turkish jurisdiction or come from a court with no real connection to the case if the defendant objects, it must not be manifestly contrary to public policy, and the defendant must have been properly summoned (Law No. 5718 Arts. 50 and 54).
Does the Turkish court review the merits of the foreign judgment?
No. The defences are limited to the absence of the enforcement conditions and to performance of the judgment or an obstacle to performance (Art. 55(2)).
Can a foreign freezing order be enforced against assets in Turkey?
No. Only final foreign judgments can be enforced (Art. 50(1)). Assets in Turkey are frozen by Turkish precautionary measures.
Is reciprocity needed for recognition?
No. Recognition as res judicata or conclusive evidence requires the enforcement conditions except reciprocity (Art. 58(1)), but recognition alone does not allow execution against assets.
Are foreign arbitral awards enforceable in Turkey?
Yes, under Law No. 5718 Arts. 60–63 and the New York Convention, which Turkey applies to awards made in other contracting states in commercial matters. Enforcement is refused only on the grounds listed in Art. 62.
Which law will a Turkish court apply to a manipulation claim?
The law of the country where the tort was committed, or where the loss occurred if different, subject to a closer connection or a later express choice (Law No. 5718 Art. 34). For Borsa Istanbul trading this usually means Turkish law.
Does a foreign state-owned investor have immunity in Turkish courts?
Turkish law grants a foreign state no immunity from jurisdiction in disputes arising from private-law relationships (Law No. 5718 Art. 49(1)). A claim over losses on exchange-traded shares, and any counterclaim, is such a dispute.
Do foreign-language documents need translation?
Yes. A party relying on a foreign-language document must submit a translation, and the court may require an official one (Code of Civil Procedure Art. 223). Foreign official documents need certification, in practice an apostille (Art. 224).
Which Turkish court hears an application to enforce a foreign judgment?
The civil court of first instance at the domicile, or failing that the residence, of the person against whom enforcement is sought; if that person has neither in Turkey, a court in Ankara, Istanbul or Izmir (Law No. 5718 Art. 51).
What documents does the application need?
The duly certified judgment or a copy certified by the issuing court, a duly certified document showing that it is final, and certified translations of both (Art. 53(1)).
Can only part of a foreign judgment be enforced?
Yes. The applicant may ask for enforcement of part of the judgment, and the court may grant enforcement in whole or in part (Arts. 52(1)(c) and 56(1)).
Can a Turkish money judgment be enforced while it is under appeal?
Yes. An appeal does not stop enforcement (Code of Civil Procedure Art. 367(1)); the debtor can obtain a stay only by depositing the amount or giving security accepted by the enforcement court (Enforcement and Bankruptcy Law Art. 36).
Does suing abroad stop Turkish limitation periods?
That should not be assumed. Limitation is governed by the law applicable to the substance (Art. 8), often Turkish law, and investors relying on a foreign forum should consider protecting their Turkish periods.
Related guides
- Turkey’s 2026 Fund and Market Manipulation Crisis: Legal Guide for Foreign Institutional Investors — the entry point to this series
- Turkish Bond Defaults: Bondholders’ Boards and Enforcement
- Continuous Disclosure in Turkey: Inside Information and Delayed Disclosure
- How a Securities Lawsuit Proceeds in Turkey
- Limitation Periods for Investor Claims in Turkey
- Concealed Profit Transfers and Controlling Shareholder Liability
- Claims Against Brokers, Custodians and Portfolio Managers in Turkey
- When a Turkish Issuer or Broker Becomes Insolvent
- Obtaining and Preserving Evidence in Turkey for Securities Claims — preservation, document production and the criminal file
- Shareholder Rights in Turkish Listed Companies after the 2026 Crisis — general meetings, release, annulment and exit rights
- Insider Dealing in Turkey: Capital Markets Law Article 106 — trading on non-public information
- Calculating Damages in Turkish Securities Claims — loss, interest and currency
- Freezing Assets in Turkey for Investor Claims
- Can Foreign Investors Bring a Class Action in Turkey?
- Suing Directors and Auditors of Turkish Listed Companies
- Suing Turkey’s Capital Markets Board (SPK)
- Prospectus and Disclosure Liability in Turkey: Articles 10 and 32
- Joining a Criminal Case in Turkey as a Foreign Investor
- Representing Foreign Institutional Investors in Turkish Capital Markets Disputes
- Norway’s Wealth Fund and Turkey’s Market Manipulation Crisis
- Legal Guide for Foreign Investors in Turkey (Türkiye) 2026
Important note: This guide is for general information only and does not constitute legal advice on any matter. It reflects Turkish legislation in force as at 25 October 2026 and the status of the conventions mentioned as published by their depositaries. It does not address the law of any other country, including whether a foreign court would accept jurisdiction or whether a Turkish judgment would be enforced abroad, which depends on the law of the state concerned. Whether reciprocity exists between Turkey and a particular state must be established case by case. Legislation relied on: Law No. 5718 on International Private and Procedural Law, Arts. 6, 8, 24, 34, 40, 47, 48, 49 and 50–63; Code of Civil Procedure No. 6100, Arts. 6, 7, 12, 14, 16, 76, 109, 220, 221, 223, 224, 263, 367, 389 and 408; Enforcement and Bankruptcy Law No. 2004, Arts. 32, 36 and 257; Turkish Commercial Code No. 6102, Arts. 560 and 561; Turkish Code of Obligations No. 6098, Arts. 72 and 154; Capital Markets Law No. 6362, Art. 32; Convention on the Recognition and Enforcement of Foreign Arbitral Awards (New York, 1958); Hague Conventions of 1 March 1954 on civil procedure, 5 October 1961 (Apostille), 15 November 1965 (Service) and 18 March 1970 (Evidence).
