18.03.2023/41
Recognition of Certain Investments with Investment Incentive Certificates as Completed Due to Earthquake and Measures Taken Under the Attraction Centers Program
Regulations regarding investment incentives have been made through Presidential Decree No. 134, published in the Official Gazette No. 32130 on 12.03.2023.
1. Recognition of Certain Investments with Investment Incentive Certificates as Completed
a) Investments Under General Incentive Applications
Due to the earthquake that occurred on 06.02.2023, investments being made in areas declared as disaster zones with general impact will be considered completed under general incentive applications as follows:
– Investment incentive certificates whose investment period has ended and which have not been finalized with a completion visa will be considered completed without requiring an application, as of 06.02.2023.
– Investment incentive certificates whose investment period is ongoing will be considered completed without requiring compliance with the conditions on the certificate if an application is made within three months from the effective date of this Decree-Law.
b) Investments Under Regional, Large-Scale, and Strategic Incentive Applications
Due to the earthquake that occurred on 06.02.2023, investments in areas declared as disaster zones with general impact will be considered completed under regional, large-scale, and strategic incentive applications as follows:
– Investment incentive certificates that have not been finalized with a completion visa by 06.02.2023 will be considered completed, without needing to comply with the conditions of the certificate, if an application is made within three months from the effective date of this Decree-Law.
– The cessation of support recorded on the incentive certificate,
– The non-recall of any support already received.
2. Removal of the Requirement for Evaluation Committee for Areas Included in the Attraction Centers Program
According to Article 1 of the supplementary section of Law No. 5084, it was stipulated that an evaluation committee would be established to make decisions regarding applications under the Attraction Centers Program. The support under the program is regulated in the Decision on Supporting Investments within the Attraction Centers Program (Decision No. 2018/11201).
With the Presidential Decree No. 134, investments to be made in certain provinces and districts determined by the President in areas declared as disaster zones will not require an Evaluation Committee decision in order to issue an incentive certificate under the Attraction Centers Program.
You can access the related Presidential Decree here.
Best regards,
BİLGENER
