News and Publications

Turkey has reduced the financial and investment thresholds required for foreigners to acquire Turkish citizenship. The new thresholds apply from 19 September 2018. The changes apply to the necessary values of fixed capital investments, immovable property purchases, workforce employment, […]

Turkey’s Data Protection Board (“Board”) has extended the scope of data controllers which are exempt from registering with the Data Controllers Registry (“Registry”), as well as the dates which data controllers must register. The Board has also published new […]

urkey has amended rules for the Central Bank to collect information and documents from firms, allowing it to monitor transactions which affect an entity’s foreign exchange position. Changes apply to the scope of qualifying entity’s, deadlines for submitting the […]

Turkey has introduced new rules to protect the value of its currency, aimed at ensuring profits from export transactions between 4 September 2018 and 4 March 2019 are returned to Turkey. Accordingly, values received from export transactions made by […]

Turkey has increased maximum interest rates for credit card transactions, allowing banks to charge higher interest rates. From 1 October 2018, the maximum contractual interest rate for credit card transactions in Turkish Lira increases from 2.02% to 2.25%, as […]

Turkey’s Ministry of Trade has issued a communiqué outlining principles and procedures for companies with share capital to follow in cases of capital loss or financial distress. It applies to joint stock companies, limited liability companies and commandite companies […]

Turkey has announced further details, exemptions and clarifications for recently introduced rules restricting foreign currency or foreign currency indexed payment obligations in contracts between parties residing in Turkey. These entered into force on 13 September 2018 by amending Decree […]

The following article gives a summary of decrees by the Council of Ministers and communiqués by the Ministry of Commerce regarding prevention of unfair competition in imports, made between 1 September 2018 and 31 September 2018 Safeguard Measures Continue […]

Turkey has capped the instalment payment period for retail goods and services at maximum 12 months, with lower caps for certain types of goods. The cap applies from 1 September 2018 and applies irrespective of whether the sale involves […]

Turkey’s Banking Regulatory and Supervisory Authority (“Authority”) has lowered the cap on consumer loans. Accordingly, from 1 September 2018, the maximum term for consumer loans becomes 36 months (previously 48 months), with some exceptions. The Authority has also reduced […]