Contact Law Office
Time will tell whether the implementation of these rules require notification of the authorities of each transaction, or notice will be periodic. Contact Law Office continues to require consent for GUII opening offices in Turkey, contact the foreign companies and maintains a ban on business activities of these offices. This requirement permits the policies "do not need permission" for the stock societies. Obviously, the Government wants to prevent the opening of the contact office and streamline the process to attract more foreign direct investment. Transfer of funds requirement of the preceding law registration of licenses and patents, know-how, technical assistance and guidance in GUII contracts were canceled. As a result, contributions are requested by foreign investors in companies formed in Turkey, are no longer subject to a thorough inspection GUII. Only subject to the standard tax on income before deduction of taxes, foreign investors and their Turkish partners can now easily determine the amount of transfers and payments for technical assistance, as well as other terms and conditions of these agreements.
The law also says that such transfers and payments can be without any barriers translates into accounts of foreign investors in foreign banks. Investments in financial markets continued to distinguish the law, foreign direct investment from investments in Turkish companies trading in the Turkish stock market. However, any investment, leading to the possession of 10 or more percent of shares or control over decisions in the Turkish company, will automatically become dependent on foreign capital and, therefore, is entitled to the protection of the law.
