Communiqué on Portfolio Management Companies was Amended
Various amendments are made through the Communiqué (III-55.1.ç) on the Amendment to the Communiqué on Principles Regarding Portfolio Management Companies And Activities Of Such Companies (III-55.1) (“Communiqué”), which is published in the Official Gazette dated May 27, 2021 and numbered 31493.
According to this Communiqué, within the scope of the conditions for the establishment of a portfolio management company, the initial capital threshold is increased from TRY 2,000,000 to TRY 6,000,000.
Moreover, the thresholds of minimum capital stipulated in Article 28 titled Obligations on Capital Adequacy, is also increased.
It has been regulated that companies that have already obtained an establishment permission shall comply with the above-mentioned changes until the date of 31.12.2021.
Please find the Turkish version of the relevant Communiqué here.
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