Recent Keynotes of February 2025

International Agreements

• The Resolution of the President dated 31.01.2025 and numbered 9486 on the Approval of the Agreement between the Government of the Republic of Türkiye and the Cabinet of Ministers of the Kyrgyz Republic on the Establishment and Functioning of Cultural Centers was published in the Official Gazette dated 01.02.2025 and numbered 32800.
• The Resolution of the President dated 09.02.2025 and numbered 9511 on the Approval of the Agreement on Cooperation in the Field of Migration between the Government of the Republic of Türkiye and the Government of the Republic of Azerbaijan was published in the Official Gazette dated 10.02.2025 and numbered 32809.

Resolutions of the President

• The Resolution of the President dated 31.01.2025 and numbered 9487 on the Withholding Rates in the Provisional Article 67 of the Income Tax Law No. 193 was published in the Official Gazette dated 01.02.2025 and numbered 32800.The provisions of this Resolution enter into force on different dates.
• The Resolution of the President dated 31.01.2025 and numbered 9488 on the Approval of the National Employment Strategy (2025-2028) was published in the Official Gazette dated 01.02.2025 and numbered 32800.
• The Resolution of the President dated 31.01.2025 and numbered 9497 on the Determination of Sectoral and Regional Priorities for Enterprises Benefiting from the Services and Supports Provided by KOSGEB entered into force through publication in the Official Gazette dated 01.02.2025 and numbered 32800.
• The Resolution of the President dated 31.01.2025 and numbered 9501 on the Amendment to the Resolution on the Support of Investments under the Attraction Centers Program was published in the Official Gazette dated 01.02.2025 and numbered 32800. This Resolution enters into force on the date of its publication, effective as of 01.01.2025.
• The Resolution of the President dated 31.01.2025 and numbered 9504 on the Amendment to the Resolution on the Provision of Financial Support under Favorable Conditions by KOSGEB for the Development and Support of Small and Medium-Sized Enterprises entered into force through publication in the Official Gazette dated 01.02.2025 and numbered 32800.

Legislation

• The Regulation Amending the Regulation on Combined Transport entered into force through publication in the Official Gazette dated 21.01.2025 and numbered 32789.
• The Regulation Amending the Electricity Market Balancing and Settlement Regulation was published in the Official Gazette dated 21.01.2025 and numbered 32789. The provisions of this Regulation enter into force on different dates.
• The Regulation Amending the Electricity Market Licensing Regulation entered into force through publication in the Official Gazette dated 21.01.2025 and numbered 32789.
• The Regulation Amending Electricity Market Ancillary Services Regulation was published in the Official Gazette dated 21.01.2025 and numbered 32789. The provisions of this Regulation enter into force on different dates.
• The Regulation Amending the Regulation on Storage Activities in the Electricity Market entered into force through publication in the Official Gazette dated 21.01.2025 and numbered 32789.
• The Regulation Amending the Electricity Grid Regulation entered into force through publication in the Official Gazette dated 21.01.2025 and numbered 32789.
• The Regulation Amending the Regulation on the Certification and Support of Renewable Energy Sources entered into force through publication in the Official Gazette dated 21.01.2025 and numbered 32789.
• The Communiqué on the Update of Monetary Limits for Sale Announcements to be Made Pursuant to the Enforcement and Bankruptcy Law was published in the Official Gazette dated 22.01.2025 and numbered 32790. This Communiqué enters into force on 01.02.2025.
• The Regulation Amendingthe Regulation on Insurance Agencies entered into force through publication in the Official Gazette dated 22.01.2025 and numbered 32790.
• The Communiqué (No: 2025-32/71) Amending the Communiqué (No: 2008-32/34) Regarding the Decree No. 32 on the Protection of the Value of the Turkish Currency entered into force through publication in the Official Gazette dated 24.01.2025 and numbered 32792.
• The Communiqué (No: 2025/3) on the Prevention of Unfair Competition in Imports entered into force through publication in the Official Gazette dated 24.01.2025 and numbered 32792.
• The Communiqué (No: 2025/3) Amending the Communiqué (No: 2010/2) on the Printing Method of Checkbooks and the Determination of the Amount That Banks Are Obliged to Pay to Bearers was published in the Official Gazette dated 24.01.2025 and numbered 32792. This Communiqué enters into force on 31.01.2025.
• The Communiqué (II-14.2.ç) Amending the Communiqué (II-14.2) on the Financial Reporting Principles of Investment Funds entered into force through publication in the Official Gazette dated 24.01.2025 and numbered 32792.
• The Public Procurement Communiqué (No: 2025/1) was published in the Official Gazette dated 24.01.2025 and numbered 32792. This Communiqué enters into force on 01.02.2025.
• The Domestic Goods Communiqué (SGM-2024/10) was published in the Official Gazette dated 25.01.2025 and numbered 32793. This Communiqué enters into force on 01.01.2026.
• The Communiqué Amending the Social Security Institution Health Implementation Communiqué was published in the Official Gazette dated 25.01.2025 and numbered 32793. This Communiqué enters into force on the date of its publication, effective as of 15.01.2025.
• The General Communiqué on Tax Procedure Law (Serial No: 580) entered into force through publication in the Official Gazette dated 28.01.2025 and numbered 32796.
• Regulation on Private Hospitals was published in the Official Gazette dated 30.01.2025 and numbered 32798. The provisions of this Regulation enter into force on different dates.
• The Communiqué on the Re-Determination of the Minimum Equity Amounts of Payment and Electronic Money Institutions was published in the Official Gazette dated 30.01.2025 and numbered 32798. This Communiqué enters into force through publication, effective as of 30.06.2025.
• The Regulation Amending the Regulation on the Manufacturing, Modification and Assembly of Vehicles entered into force through publication in the Official Gazette dated 31.01.2025 and numbered 32799.
• The Regulation Amending the Implementation Regulation on Organized Industrial Zones entered into force through publication in the Official Gazette dated 01.02.2025 and numbered 32800.
• The Communiqué Amending the Communiqué (No: 2024/2) on Surveillance Measures in Imports entered into force through publication in the Official Gazette dated 03.02.2025 and numbered 32802.
• The Law No. 7539 Amending Certain Laws was published in the Official Gazette dated 04.02.2025 and numbered 32803. The provisions of this Law enter into force on different dates.
• The Communiqué (No: 2025/2) on the Prevention of Unfair Competition in Imports entered into force through publication in the Official Gazette dated 04.02.2025 and numbered 32803.
• The Communiqué (No: 2025/5) Amending the Communiqué (No: 2013/15) on Required Reserves entered into force through publication in the Official Gazette dated 04.02.2025 and numbered 32803.
• The Regulation Amending the Regulation on the Transport of Dangerous Goods by Road entered into force through publication in the Official Gazette dated 06.02.2025 and numbered 32805.
• The Regulation Amending the Regulation on the Procedures and Principles Regarding the Signing of Water Use Rights Agreements for Production Activities in the Electricity Market entered into force through publication in the Official Gazette dated 08.02.2025 and numbered 32807.
• The General Communiqué of the General Directorate of Public Accounts (Serial No: 94) (Monetary Limits) entered into force through publication in the Official Gazette dated 08.02.2025 and numbered 32807.
• The General Communiqué (Serial No: 8) on the Law No. 7440 on the Restructuring of Certain Receivables entered into force through publication in the Official Gazette dated 08.02.2025 and numbered 32807.
• The Regulation Amending the Electricity Facilities Project Regulation entered into force through publication in the Official Gazette dated 09.02.2025 and numbered 32808.
• The Regulation on Pilotage and Towage Services entered into force through publication in the Official Gazette dated 11.02.2025 and numbered 32810.
• The Regulation Amending the Regulation on the Implementation of Procurement Tenders for the Purchase of Goods entered into force through publication in the Official Gazette dated 11.02.2025 and numbered 32810.
• The General Communiqué on National Property (Serial No: 420) entered into force through publication in the Official Gazette dated 12.02.2025 and numbered 32811.
• The Communiqué on the Amendment to the Communiqué (No: 2016/4) on Surveillance Measures in Imports entered into force through publication in the Official Gazette dated 12.02.2025 and numbered 32811.
• The Communiqué Amending the Communiqué (No: 2022/5) on Surveillance Measures in Imports was published in the Official Gazette dated 12.02.2025 and numbered 32811. This Communiqué enters into force on 14.03.2025.
• The Regulation Amending the Regulation on Internal Systems in the Insurance and Private Pension Sectors entered into force through publication in the Official Gazette dated 14.02.2025 and numbered 32813.
• The Communiqué on Keeping Commercial Books Not Related to the Accounting of the Business in Electronic Form was published in the Official Gazette dated 14.02.2025 and numbered 32813. This Communiqué enters into force on 01.07.2025.
• The Data Sharing Regulation of the Ministry of Family and Social Services entered into force through publication in the Official Gazette dated 15.02.2025 and numbered 32814.
• The Communiqué (Serial No: 581) on the Amendment to the General Communiqué on Tax Procedure Law (Serial No: 531) entered into force through publication in the Official Gazette dated 15.02.2025 and numbered 32814.
• The General Communiqué on Tax Procedure Law (Serial No: 582) entered into force through publication in the Official Gazette dated 15.02.2025 and numbered 32814.
• The Communiqué Amending the Communiqué (No: 2023/10) on Surveillance Measures in Imports entered into force through publication in the Official Gazette dated 15.02.2025 and numbered 32814.
• The Communiqué (No: 2025/6) Amending the Communiqué (No: 2021/14) on Supporting the Conversion of Turkish Lira Deposit and Participation Accounts entered into force through publication in the Official Gazette dated 15.02.2025 and numbered 32814.
• The Communiqué (No: 2025/7) Amending the Communiqué (No: 2021/16) on Supporting the Conversion of Gold Accounts into Turkish Lira Deposit and Participation Accounts entered into force through publication in the Official Gazette dated 15.02.2025 and numbered 32814.
• The Communiqué (No: 2025/8) Amending the Communiqué (No: 2022/7) on the Deposit and Participation System for Residents Abroad (YUVAM) entered into force through publication in the Official Gazette dated 15.02.2025 and numbered 32814.
• The Communiqué (No: 2025/9) Amending the Communiqué (No: 2022/11) on the Integration of Physical Assets Denominated in Gold into the Financial System entered into force through publication in the Official Gazette dated 15.02.2025 and numbered 32814.
• The Regulation on Amending the Regulation on the Manufacturing, Modification, and Assembly of Vehicles entered into force through publication in the Official Gazette dated 18.02.2025 and numbered 32817.
• The Communiqué (No: MHGM-2025/1) on the TS 825 Standard on Thermal Insulation Rules in Buildings was published in the Official Gazette dated 20.02.2025 and numbered 32819. This Communiqué enters into force on 01.04.2025.
• The Communiqué (No: 2024/43) on the Support for Agricultural Investments under Rural Development Supports entered into force through publication in the Official Gazette dated 20.02.2025 and numbered 32819.
• The Communiqué (No: 2025/4) on the Prevention of Unfair Competition in Imports entered into force through publication in the Official Gazette dated 20.02.2025 and numbered 32819.

Mergers and Acquisitions

• The Competition Board ("Board") authorized the acquisition of the all shares corresponding to 100% of the capital and sole control of Farhym Otomotiv Sanayi ve Ticaret Limited Şirketi by Turna Ahşap İnşaat Sanayi ve Ticaret Limited Şirketi. (23.01.2025, 25-03/93-53)
• The Board authorized the acquisition of sole control of PEPP Group B.V. by Zeppelin GmBH. (23.01.2025, 25-03/91-52)
• The Board authorized the acquisition of joint control of Sauber Holding AG, currently under the sole control of AUDI Aktiengesellschaft, by Qatar Investment Authority through its subsidiary Qatar Holding LLC. (23.01.2025, 25-03/89-51)
• The Board authorized the acquisition of the entire shares of Yargıcı Konfeksiyon İhracat ve Ticaret Anonim Şirketi, currently under the sole control of Global Buyout Fund L.P., by Tims Prodüksiyon Film ve Organizasyon Sanayi ve Ticaret Anonim Şirketi. (23.01.2025, 25-03/88-50)
• The Board authorized the acquisition of sole control of Benchmark Genetics Limited, currently controlled by Benchmark Holdings Plc, by Novo Holdings A/S. (23.01.2025, 25-03/82-48)
• The Board authorized the establishment of joint control over TSYL Topco, L.P., currently under the sole control of TA Associates Management, L.P., by TA Associates Management, L.P. and General Atlantic (TSV), L.P. (23.01.2025, 25-03/80-47)
• The Board authorized the establishment of sole control over Tatilbudur Seyahat Acenteliği ve Turizm AŞ by İş Girişim Sermayesi Yatırım Ortaklığı AŞ, an affiliate of Türkiye İş Bankası AŞ, through the acquisition of a certain percentage of shares owned by Derya Bülent KUŞ, who previously had joint control over the company. (23.01.2025, 25-03/79-46)
• The Board authorized the acquisition of the building systems business line of Fosroc Yapı Kimyasalları Sanayi ve Ticaret AŞ by Starcin Holding France, which is ultimately under the sole control of Compagnie de Saint-Gobain SA. (23.01.2025, 25-03/78-45)
• The Board authorized the acquisition of joint control of KVK Teknoloji Ürünleri ve Ticaret AŞ by Ayhan ÖZGÜREL and Murat ONUK through Arz Gayrimenkul ve Girişim Sermayesi Portföy Yönetimi AŞ Onüçüncü Girişim Sermayesi Yatırım Fonu, which is solely controlled by Arz Gayrimenkul ve Girişim Sermayesi Portföy Yönetimi AŞ. (23.01.2025, 25-03/77-44)
• The Board authorized the establishment of joint control over Calisen Midco I Limited and its subsidiaries, currently under the joint control of BlackRock Alternatives Management LLC, Mubadala Investment Company P.J.S.C, and The Goldman Sachs Group Inc., by EQT Fund Management S.à.r.l and Leigh Investment Pte. Ltd. (06.02.2025, 25-04/125-69)
• The Board authorized the acquisition of sole control of Ercros, S.A. by Esseco Group Srl through Esseco Industrial S.p.A via a voluntary competitive takeover bid. (06.02.2025, 25-04/122-67)
• The Board authorized the acquisition of sole control of the machining solutions business line of Georg Fischer AG, comprising GF Machining Management SA, System 3R International AB, GF Machining Solutions LLC, and Microlution Inc., by Fritz Studer AG. (06.02.2025, 25-04/115-66)
• The Board authorized the acquisition of control (or usufruct rights) of four aircraft from Avolon Aerospace Leasing Limited and five aircraft from Horizon Aircraft Finance II Limited by Castlelake L.P. through CL Financing Gold Limited (or certain subsidiaries), either directly or indirectly. (06.02.2025, 25-04/114-65)
• The Board authorized the acquisition of all shares of Matay Otomotiv Yan San. ve Tic. AŞ by Orhan Holding AŞ from Marelli Europe S.p.A. (06.02.2025, 25-04/113-64)
• The Board authorized the establishment of joint control over Terminal Catalunya S.A., currently controlled by Barcelona Europe South Terminal, S.A.U., by Barcelona Europe South Terminal, S.A.U. and Terminal Investment Limited Holdings S.A. (06.02.2025, 25-04/109-62)
• The Board authorized the establishment of joint control over Uptechlabs Bilişim ve Elektronik Teknolojileri Sanayi ve Ticaret AŞ, currently controlled by Mert KALAYCI, between Mert KALAYCI and Hacı Ömer Sabancı Holding AŞ. (06.02.2025, 25-04/108-61)
• The Board authorized the acquisition of sole control of Piromet Pirometalurji Malzeme Refrakter Makina Sanayi ve Ticaret AŞ by Vesuvius Overseas Limited. (06.02.2025, 25-04/107-60)
• The Board authorized the acquisition of certain assets and shares of Heubach Holding S.à r.l. by Sudarshan Europe B.V., a wholly owned subsidiary of Sudarshan Chemical Industries Ltd. (06.02.2025, 25-04/105-59)
• The Board authorized the acquisition of sole control of UAB Pixelmator Team by Apple Inc. through Apple Distribution International Ltd. (06.02.2025, 25-04/99-56)
• The Board authorized the establishment of joint control over Gigamon Inc. by Siris Capital Group, LLC and Elliott Investment Management LP. (06.02.2025, 25-04/98-55)
• The Board authorized the acquisition of the “GEOMAGIC” business line of 3D Systems Corporation, 3D Systems Korea, Inc., and 3D Systems, Inc. by Hexagon AB, ultimately through Hexagon Manufacturing Intelligence, Inc. (06.02.2025, 25-04/98-55)

Energy

• The Decisions of the Energy Market Regulatory Authority (“EMRA”) dated 23.01.2025 and numbered 13232, 13234, 13236, and 13242 were published in the Official Gazette dated 24.01.2025 and numbered 32792.
• The Decision of EMRA dated 30.01.2025 and numbered 13250 entered into force through publication in the Official Gazette dated 06.02.2025 and numbered 32805.
• The Decisions of EMRA dated 06.02.2025 and numbered 13267, 13268, 13269, and 13270 were published in the Official Gazette dated 08.02.2025 and numbered 32807.
• The Decisions of EMRA dated 13.02.2025 and numbered 13297, 13298, 13299, and 13300 were published in the Official Gazette dated 15.02.2025 and numbered 32814.
• The Decision of EMRA dated 13.02.2025 and numbered 13289 entered into force through publication in the Official Gazette dated 19.02.2025 and numbered 32818.
• The Decisions of EMRA dated 13.02.2025 and numbered 13285, 13286, 13287, and 13288 entered into force through publication in the Official Gazette dated 20.02.2025 and numbered 32819.