07.03.2022/17
On the Possibility of Opening 3 Maturity Accounts for Corporate Taxpayers in Exchange Rate Protected Conversion to Turkish Lira Deposits
Pursuant to Article 4 of the Communiqué No. 2021/14 on Supporting the Conversion to Turkish Lira Deposit and Participation Accounts, real persons could open a currency-protected deposit account with a minimum maturity of 3 months, while this maturity was applied as a minimum of 6 months for legal entities. With the Central Bank Communiqué No. 2022/9 published in the Official Gazette dated 07/03/2021 and numbered 31771, the opportunity to open a currency-protected deposit account with a minimum maturity of 3 months was introduced for corporate taxpayers.
According to the amendment made in the fourth paragraph of Article 5 of the Communiqué No. 2021/14, Turkish lira deposit or participation accounts opened by the Central Bank within the scope of this application may be renewed at the end of maturity and the renewed accounts will continue to benefit from the support over the foreign currency amount and conversion rate converted at the first opening.
The relevant Central Bank Communiqué is available here.
You can access our circular dated 29.01.2022 and numbered (8) here.
You can access our circular dated 14.02.2022 and numbered (10) here.
Sincerely,
BİLGENER
