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DECREE NO: 32 Concerning the Protection
of the Value of the Turkish Currency
(Official
Gazette dated August 11,1989)
No: 89/14391
Foreign
Capital Brought Into Turkey
Article 12- (Amended with the Decree No: 91/ 1935) Real
persons and legal entities residing abroad may engage freely in all
industrial, commercial, agricultural and other activities oriented
to the production of goods and services, provided that the necessary
permission is taken within the scope of the Law conceming the
Encouragement of Foreign Capital No: 6224, their activities are
related to subjects mentioned in permits granted to them and the
required capital is brought.
Turkish residents can conclude license, know-how, technical
assistance and management agreements with real or legal persons
resident abroad freely provided that the necessary permissions
pursuant to Law No: 6224 are taken.
Performing commercial activities and setting up
unincorporated company in Turkey (excluding unincorporated companies
founded for intemational tenders) by persons resident abroad except
building up companies and opening branch and liaison offces in
accordance with Foreign Investment Legislation and Petroleum Law,
concluding license and representation agreements with credit card
companies abroad by Turkish residents are subject to the permission
of the Ministry. Principles regarding foregoing point and the
transfer of profit, sale and liquidation values to be paid in retum
for license and representation agreements are determined by the
Ministry. |
