Turkey has amended various application, extension and qualification aspects of its government investment aid scheme. Supporting documents required during incentive certificate applications have been updated and certified copies are no longer necessary for some registry documents. Foreign solar panels are now excluded from the incentive scheme. Finally, incurring investment expenses is no longer a pre-condition for applying for a time extension.
The Ministry of Economy introduced changes via the Communique Regarding Changes on the Communique Regarding Application of Government Aid in Investments Decision (“Communique”), published in Official Gazette number 29753 on 25 June 2016, entering into effect on the same date.
Changes introduced by the Communique include:
- During applications for incentive certificates, previous regulations required original, notarized or certified copies of the Turkish Trade Registry Gazette or Turkish Tradesmen and Craftsmen Registry Gazette, indicating the applicant’s current shareholding structure. The Communique states that a non-certified copy of these documents is sufficient.
- “solar panels obtained from abroad” are added to a list of expenses which are not eligible for an incentive certificate.
- Incurring investment expenses is no longer required as a pre-condition for making time extension applications.
- The information and documents which must be obtained from other state institutions and organizations before applying for an incentive certificate (according to the type of the investment listed in Annex-2 of the Communique) have been updated.
Please see this link for full text of the latest Communiqué (only available in Turkish).
Information first published in the MA | Gazette, a fortnightly legal update newsletter produced by Moroğlu Arseven.