Turkey has extended the scope of financial incentives offered for investments in certain industries. The Investment Incentive Scheme divides Turkey into six regional categories, grouping provinces based on their socio-economic development and targeting incentives accordingly. Under the changes, investments in licensed storage or nuclear power plants are now eligible to the incentives which are offered to the 5th regional category. An exception applies for investments made in the 6th Region, which will continue to be eligible for the 6th region incentives only.
Incentives are outlined in Cabinet Decision 2012/3305, which entered into effect on 15 June 2012. The Decision Amending the Decision Regarding Governmental Grants on Investments was published in Official Gazette number 30055, on 3 May 2017, entering into effect on the same date. Please see this link for the full text of the Amendment Decision (only available in Turkish).
Information first published in the MA | Gazette, a fortnightly legal update newsletter produced by Moroğlu Arseven.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.