The Central Bank of the Republic of Türkiye has published amendments to the Capital Movements Circular, pursuant to the letter of the Ministry of Treasury and Finance dated 4 November 2025.
In this regard:
- Foreign currency loans that are exempt from the requirement of having foreign currency income now include loans to be obtained from abroad by legal entities that are under the joint control of public institutions and organizations or are controlled by these institutions.
- In such loan usages, the borrowing legal entity must document to the intermediary bank that it is under the control of a public institution or organization. This control relationship must be demonstrated through means such as holding privileged shares, shareholder agreements or the authority to appoint or dismiss the majority of board members. Supporting documents must be obtained from trade registry gazettes or other relevant official authorities.
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© Kolcuoğlu Demirkan Koçaklı Attorneys at Law 2020
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