15.05.2023/63
Companies with Foreign Capital, Branches and Liaison Offices operating in Turkey must fulfill their notification obligations until the end of May.
Article 2 of the Foreign Direct Investment Law No. 4875 defines foreign investor. Accordingly, foreign investor is defined as
Foreign direct investment in Turkey,
- Natural persons holding citizenship of foreign countries and Turkish citizens residing abroad,
- Legal entities and international organizations established under the laws of foreign countries
refers to.
The Regulation on the Implementation of the Foreign Direct Investment Law published in the Official Gazette dated 20.08.2003 and numbered 25205 regulates certain notification obligations of foreign capital companies and their branches.
Accordingly, companies and branches with foreign capital are required to fill in and register the fields in the “Annex-1 Activity Information Form for Foreign Direct Investments” in the Electronic Incentive Implementation and Foreign Capital System (E-TUYS), which is accessible through the website of the Ministry of Industry and Technology (Ministry), on an annual basis, by the end of May at the latest.
In addition, the liaison offices of these companies located in Turkey are required to submit to the Ministry until the end of May the Information Form on the Activities of Liaison Offices in Annex 4 to the Regulation and the attached documents regarding the activities of the office in the previous year.
The extension requests of liaison offices that do not notify will not be evaluated and their activity permits will be canceled ex officio. You can access the relevant Regulation here.
Sincerely,
BİLGENER
