IMPLEMENTATION LEVEL

National

AFFECTED FLOW

Inflow

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

all

JUMBO

No

TARIFF PEAK

No
← back to the state act
Inception date: 01 Jul 2012 | Removal date: open ended
Still in force

FDI: Entry and ownership rule

The government of Turkey implemented a slight liberalisation of the foreign investment requirements in 2012. On July 1, 2012, the new Turkish Commercial Code No. 6102 (according to Turkish Official Gazette of February 14, 2011)came into effect.
 
The new code introduces the following legislative changes, which are beneficial for foreign investors operating in Turkey:
 
1) The obligation for foreign companies to secure mandatory minority shareholders in order to comply with the minimum shareholders' number requirements is removed. This means that shares of previously established companies can now be held by a single party.
2) The board of directors may now be comprised of a single person instead of at least three members. This is beneficial for the decision-making process during the board meetings of foreign investors.
3) The obligation for physical presence of board members is removed; board meetings can now be held in an electronic environment and board decisions can be approved via electronic signatures.

AFFECTED COUNTRIES

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