Turkey’s Money-Credit Coordination Board has amended the financial support scheme for market research and market entry. Changes apply particularly to trademark-related costs when purchasing foreign companies which are involved in advanced technology.

The Communiqué Amending the Communiqué on Market Research and Market-Entry Support (“Amendment Communiqué“) was published in Official Gazette number 30340 on 22 February 2018.

The Amendment Communiqué addresses provisions regarding purchasing foreign companies:

– A certain percentage of loan interest expenses will be reimbursed for trademark purchases, up to a total of $2 million:

– 5% of expenses for Turkish Lira loans.

– 2% of expenses for foreign currency and foreign exchange loans.

– Maximum 50% of the trademark purchase price will be considered when calculating the loan amounts to be provided as interest support.

– Preliminary approval will be required for expenses related to interest expenditures.

– Favourable provisions will apply to any applications which were not yet finalized by 22 February 2018.

Please see this link for full text of the Amendment Communiqué (only available in Turkish).

Information first published in the MA | Gazette, a fortnightly legal update newsletter produced by Moroğlu Arseven.