“Earthquake Incentives and Attraction Centers Program Measure”
With the publication of Presidential Decree No. 134 in the Official Gazette No. 32130 on 12.03.2023, some regulations regarding investment incentives have been made.
1. Investments with Investment Incentive Certificates to be Considered as Completed
a) Investments under General Incentive Applications
For investments being made in the areas declared as disaster zones due to the earthquake on 06.02.2023, under the general incentive applications, the following provisions apply:
- If the investment period has expired and the completion visa has not been done, the investment incentive certificates will be considered completed without requiring a request;
- If the investment period is ongoing, and the investment incentive certificate is requested within three months from the effective date of this Decree, the investment will be considered completed as it is, without requiring the registration and conditions of the investment incentive certificate.
b) Investments under Regional, Large-Scale, and Strategic Incentive Applications
For investments being made in the areas declared as disaster zones due to the earthquake on 06.02.2023, under the regional, large-scale, and strategic incentive applications, the following provisions apply:
- If the investment incentive certificate is not completed and is requested within three months from the effective date of this Decree, the investment will be considered completed without requiring the registration and conditions of the incentive certificate:
- Support registered in the incentive certificate will be suspended,
- However, the supports already benefited from will not be withdrawn.
2. No Requirement for Evaluation Committee Decision for Locations to be Included in the Attraction Centers Program
Article 1 of the Annex to Law No. 5084, titled “Attraction Centers Program,” stipulates that an evaluation committee will be formed to decide on the applications under the program. The supports under the program are outlined in the Presidential Decision No. 2018/11201 regarding the Support of Investments under the Attraction Centers Program.
With Presidential Decree No. 134, for the investments to be carried out in the provinces and districts designated by the President from the areas declared as disaster zones due to the earthquake, the requirement for the Evaluation Committee’s decision will be waived to issue investment certificates under the program.
You can access the relevant Presidential Decree here.
Sincerely,
BİLGENER
