The Turkish Capital Markets Board has announced that fees for venture capital investment funds under Article 130(3) of the Capital Markets Law will not be collected between the end of 2017 and the end of 2020.
Article 130(3) of the Capital Markets Law requires investment funds to deposit 0.005% of the investment fund’s net asset values into the Capital Markets’ Board’s account within ten working days of the end of each quarter.
However, to encourage the institutional investor environment and collective investment sector, as well as promote venture capital investment funds, the fee percentage (0.005%) will be decreased to 0% between 2017 and the end of 2020.
Please see this link for the Capital Markets Board’s bulletin containing decision numbered 27/874 from 7 October 2016.
Information first published in the MA | Gazette, a fortnightly legal update newsletter produced by Moroğlu Arseven.