Association Of Financial Institutions

The amendments to the Law No. 6361 on Financial Leasing, Factoring and Financing Companies ("Law No. 6361") entered into force by publication in the Official Gazette No. 31416 on March 7, 2021 with Law no. 7292. While the name of the Law numbered 6361 is changed to read "Financial Leasing, Factoring, Financing and Saving Finance Companies Law", the scope of activities designated to Association of Financial Leasing, Factoring, Financing Companies is further regulated.

In addition to the above, with the new amendment the companies covered by the law is enabled to be established as a single partner. As of 7 March 2021, Saving Finance Companies should a minimum paid up capital of 100,000,000- Turkish Liras. For companies other than savings finance companies the required minimum paid up capital is now 50,000,000- Turkish Liras.