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Www.karalaw.com 24-26 Temmuz 2006 Ankara-Kayseri, Turkey K L F K ARAAHMETOGLU L AW F IRM.

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Presentation on theme: "Www.karalaw.com 24-26 Temmuz 2006 Ankara-Kayseri, Turkey K L F K ARAAHMETOGLU L AW F IRM."— Presentation transcript:

1 Temmuz 2006 Ankara-Kayseri, Turkey K L F K ARAAHMETOGLU L AW F IRM

2 K L F 7/24/06New York - Istanbul - Los Angeles22 Amerika’da Ticaret Doing Business in the US Understand the US market, most competitive market (Amerikan Pazarini iyi anlayin-en rekabetci Pazar) Understand the US market, most competitive market (Amerikan Pazarini iyi anlayin-en rekabetci Pazar) Study the US doing way of business (states) Istanbul v. Diyarbakir Amerika’da is yapma kulturunu ogrenmeye calisin Study the US doing way of business (states) Istanbul v. Diyarbakir Amerika’da is yapma kulturunu ogrenmeye calisin long term planning (be patient)/uzun vadeli dusunun long term planning (be patient)/uzun vadeli dusunun Importance of first three years/ilk uc senenin onemi Importance of first three years/ilk uc senenin onemi Sektorunuzu cok iyi taniyin/know your market very well Sektorunuzu cok iyi taniyin/know your market very well Slim profits/high volume-kar marjlari dusuk/volume fazla Slim profits/high volume-kar marjlari dusuk/volume fazla Profosyoneller ile calisin/work with professionals (don’t re-invent the wheel) pr companies, sales agents, cpa, attorneys, etc. Profosyoneller ile calisin/work with professionals (don’t re-invent the wheel) pr companies, sales agents, cpa, attorneys, etc. JVs are encouraged/Amerika’li firmalar ile isbirligi JVs are encouraged/Amerika’li firmalar ile isbirligi Understand the client’s needs (garment district)/customer service Understand the client’s needs (garment district)/customer service Due diligence (on arastirma) Due diligence (on arastirma) Importance of relationships and connections/iliskilerin onemi Importance of relationships and connections/iliskilerin onemi

3 K L F 7/24/06New York - Istanbul - Los Angeles32 Amerika’da/ile Ticaret Yaparken Dikkat Edilecek Hususlar Issues that needs your attention while doing business in/with the US Try to have a written agreement/Yazili anlasma yapmaya gayret edin Try to have a written agreement/Yazili anlasma yapmaya gayret edin Conduct DD/Karsi taraf hakkinda “due diligence”- mali durumu Conduct DD/Karsi taraf hakkinda “due diligence”- mali durumucompany/principals-sirket/sahis reputation-piyasadaki itibari litigation happy?-mahkemeleri seviyor mu? (Public companies v. pc-halka acik 10Q-A) Litigation is expensive, long and uncertainty factor--dava acmak/savunmak uzun, fiyatli ve belirsiz bir yol L/C-Akreditif/factoring L/C-Akreditif/factoring Subsidies/tesvikler Subsidies/tesvikler Everything is negotiable/her konuda pazarlik olabilir Everything is negotiable/her konuda pazarlik olabilir Contracts are long and detailed/anlasmalar uzun ve detayli Contracts are long and detailed/anlasmalar uzun ve detayli Consult with a lawyer before (not after!) you sign the contract/avukattan bir anlasma imzalamadan once mutalaa alin Consult with a lawyer before (not after!) you sign the contract/avukattan bir anlasma imzalamadan once mutalaa alin Employing US workers and executives/Amerika’li yonetici ve isci calistirma Employing US workers and executives/Amerika’li yonetici ve isci calistirma

4 K L F 7/24/06New York - Istanbul - Los Angeles42 Avukatlarin Calisma Sistemleri The way lawyers operate in the US Specialized/ihtisaslasma Specialized/ihtisaslasma Expensive/Fiyatlilar. Hourly rate v. flat fee Expensive/Fiyatlilar. Hourly rate v. flat fee Use them as advisors v. litigators/ avukatlari musavir gibi kullanin durusma avukati gibi degil Use them as advisors v. litigators/ avukatlari musavir gibi kullanin durusma avukati gibi degil CPA are important/Muhasebeciler de cok onemli CPA are important/Muhasebeciler de cok onemli

5 K L F 7/24/06New York - Istanbul - Los Angeles52 Sirket Kurulurken Dikkat Edilmesi Gereken Hususlar Issues that one needs to consider when incorporating Masraf (vergi, kurulus, yonetim masraflari)/Cost (taxes, filing fees, up-keeping fees) Masraf (vergi, kurulus, yonetim masraflari)/Cost (taxes, filing fees, up-keeping fees) Sorumluluk (sinirlandirma)/Liability (keeping it limited) Sorumluluk (sinirlandirma)/Liability (keeping it limited) Sirket turunun finansmana etkisi/Effect of the set-up in available financing options Sirket turunun finansmana etkisi/Effect of the set-up in available financing options Transferde kolaylik/easy transferability Transferde kolaylik/easy transferability Ortaklik anlasmasi/shareholders’/operating agreement Ortaklik anlasmasi/shareholders’/operating agreement

6 K L F 7/24/06New York - Istanbul - Los Angeles62 SIRKET AVANTAJLARI ADVANTAGES OF A CORP SET-UP Her turlu kanuni isi yapmak icin kurulabilirler/can be set-up to be involved in any lawful activity (unlike the Turkish corp. system) Her turlu kanuni isi yapmak icin kurulabilirler/can be set-up to be involved in any lawful activity (unlike the Turkish corp. system) Sinirli sorumluluk/limited liability Sinirli sorumluluk/limited liability Sonsuz devamlilik/perpetual existence Sonsuz devamlilik/perpetual existence Transfer kolayligi/ease in transferability Transfer kolayligi/ease in transferability Sirket kendi adina malvarligi edinebilir/can own assets in its name Sirket kendi adina malvarligi edinebilir/can own assets in its name Semaye=para/malvarligi/hizmet—Capital=cash/assets/services (unlike the Turkish corp. syestem) Semaye=para/malvarligi/hizmet—Capital=cash/assets/services (unlike the Turkish corp. syestem) Hisse senedi ihraci ile ek finansman/private placements or ipos Hisse senedi ihraci ile ek finansman/private placements or ipos

7 K L F 7/24/06New York - Istanbul - Los Angeles72 SIRKET DEZAVANTAJLARI DISADVANTAGES OF A CORP. SET-UP Kurma nisbeten daha teknik ve masraflidir/incorporation process is technical Kurma nisbeten daha teknik ve masraflidir/incorporation process is technical Yonetim formalitesi fazla/administratively burdensome Yonetim formalitesi fazla/administratively burdensome Kar da cifte vergilendirme mevcut/double taxation (i.e., kurumlar vergisi) v. LLC structure Kar da cifte vergilendirme mevcut/double taxation (i.e., kurumlar vergisi) v. LLC structure

8 K L F 7/24/06New York - Istanbul - Los Angeles82 HANGI EYALET? Where do you set up your company? Iki ihtimal var: The State that you are going to do biz/ Is yapacaginiz eyalet The State that you are going to do biz/ Is yapacaginiz eyalet DE/Delaware eyaleti DE/Delaware eyaleti

9 K L F 7/24/06New York - Istanbul - Los Angeles92 Gerekli Bilgi & Belgeler Required info and documents Name/Firma ismi Name/Firma ismi Partners/Firmanin ortaklari kim olacak? Partners/Firmanin ortaklari kim olacak? Partnership percentages/Kim yuzde kac ile ortak olacak? Partnership percentages/Kim yuzde kac ile ortak olacak? Distribution of profits/Kar payi nasil dagitilacak Distribution of profits/Kar payi nasil dagitilacak No need for an office address to set up the co./Ofise gerek yok No need for an office address to set up the co./Ofise gerek yok Minimum capital/Sermaye Minimum capital/Sermaye

10 K L F 7/24/06New York - Istanbul - Los Angeles102 Karaahmetoglu Law Firm Times Square Plaza 1500 Broadway New York, NY Tel : Fax: ISTANBUL ISTANBUL IRTIBAT OFISI: IRTIBAT OFISI: K&K Hukuk Burosu Tel: Fax: LOS ANGELES IRTIBAT OFISI Ghoreichi & Associates Tel: Fax:


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