Amendment to the Regulation on Foreign Direct Investments Law

Pursuant to the Regulation Amending the Implementation Regulation of the Foreign Direct Investments Law published in the Official Gazette dated 16.10.2020 and numbered 31276 (“Amending Regulation”), the Implementation Regulation of the Foreign Direct Investments Law (“Regulation”) has been amended.

With the introduction of the Amending Regulation, definitions of registered e-mail (REM), registered e-mail service provider (REMSP) and REM account are inserted. In this regard, the companies and the branches, which are subject to the Foreign Direct Investments Law are required to obtain a REM account.

Pursuant to the amendment, authorization application, applications for time extension or for the cancellation of the authorization and updating procedures shall be done via REM system. Therefore, the physical application requirement before the relevant General Directorate of Incentive Practices and Foreign Capital is abolished.

The Amending Regulation enters into force as of the date of its publication in the Official Gazette. However, pursuant to the Provisional Article 2 of the Regulation, physical applications could still be made within one month from the publication of the Amending Regulation.

You may find the Turkish version of the Amending Regulation here.