Winds Of Change In Türkiye's Fx Regime

The Capital Movements Circular ("Circular") has been amended with the letter of Ministry of Treasury and Finance of Republic of Turkey numbered 940051.

Mersis is an electronic trade registry, which is highly popular and a significant e-portal for attorneys and companies.

Turkey has moved from a largely unregulated crypto market to one of the more tightly supervised regimes in the region. For foreign investors, exchanges, and businesses holding digital assets with a Turkish nexus, understanding the current framework is no longer optional.

This article examines the legal and practical framework for opening and operating a Turkish bank account as a foreign national or foreign-owned business. It distinguishes statutory customer-identification and anti-money-laundering duties from each bank's own customer-acceptance policy. The discussion addresses passports,

The information relating to Turkiye is provided for background purposes only. The information presented herein has been extracted from and is presented on the authority of various public official documents and private publications.

SPK, halka açık olmayan ortaklıkların halka arz başvurularını ilan edilen sıradan bağımsız olarak önceliklendirmek üzere üç alternatif kriter belirledi

With its decision No. 57/1708 dated 17.09.2026, the Capital Markets Board (the “CMB”) set out the liquidation procedures for the 131 investment funds established by Tera, A1 Capital, Atlas, Bulls, Hedef, Pardus and Pusula Portföy Yönetimi, whose liquidation had been ordered under its previous decision, and updated the relevant list of funds in the same decision.

The Capital Markets Board of Türkiye has introduced comprehensive regulatory reforms affecting hedge funds and portfolio management companies, implementing new investment diversification requirements, graduated ownership caps based on free-float ratios, enhanced capital adequacy standards, and stricter personnel qualifications. These changes, effective from August 2026, establish tiered compliance deadlines and fundamentally reshape the operational framework for Turkish portfolio managers.

On 16 September 2026, the money market funds founded by Pusula Portföy Yönetimi A.Ş. defaulted after failing to meet the cash redemption requests received from investors, triggering a sharp sell off on Borsa Istanbul. The BIST 100 index lost 5.54% that same day and hit a circuit breaker; the selling soon spread to Tera Portföy funds as well. It became apparent that the problem was not confined to those two firms but also extended to Hedef, Atlas, A1 Capital, Pardus and Bulls Portföy.

Borsa Istanbul’s BIST 100 index came under significant selling pressure over three consecutive trading sessions between 15-17 September 2026. The index closed down 5.54% on 16 September, a move that triggered Borsa Istanbul’s index-linked circuit breaker, and negative momentum continued into the morning of 17 September. The sell-off was primarily triggered by a default at Pusula Portföy Yönetimi A.Ş., a portfolio management company, which failed to meet investor redemption requests from certain funds it manages in a timely manner. A similar liquidity problem emerged at Tera Portföy Yönetimi A.Ş., and this situation put pronounced pressure on the shares of both companies as well as on broader market indices.

Mersis is an electronic trade registry, which is highly popular and a significant e-portal for attorneys and companies.

The Law No. 7464 on the Rental of Residential Properties for Tourism Purposes and Amendments to Certain Laws1 provided the short-term rental of residential properties for tourism purposes in Türkiye with a legal framework.

We are living in an era in which digitalization is accelerating and Artificial Intelligence ("AI") technologies are reshaping both societal and professional practices.

For the most part, the Turkish Labor Law governs legal aspects of the employer-employee relationship in Turkey. This code defines employers as real persons, legal entities, or institutions or establishments with no legal personality which employ people.

We are pleased to share our latest article, “German Special Fund for Infrastructure and Climate Neutrality: Opportunities for Turkish Companies”, jointly prepared by the Hergüner and Taylor Wessing teams.

The Regulation Amending the Zoning Regulation for Planned Areas (“Regulation”), published in the Official Gazette dated 1 July 2026 and numbered 33297, introduces several amendments to the Zoning Regulation for Planned Areas. The amendments include significant changes concerning construction license procedures, construction co-efficiency calculations, elevator requirements, modification works in existing buildings and the conversion of certain office buildings into residential use.

On 4 March 2026, the European Commission published the draft Industrial Accelerator Act ("IAA"), a legislative proposal to strengthen European Union ("EU") manufacturing in strategic sectors including steel, cement, aluminum and automotive.

Following the European Union’s (“EU”) launch of the Green Deal in 2019, the transition into a green economy has been framed not only as an environmental imperative but also as a new growth strategy. The Green Deal seeks to combine the reduction of emissions with the preservation of economic competitiveness.

This issue of the Competition & Trade Quarterly brings together the two parts of the bulletin. The competition section reviews eleven Turkish Competition Board decisions and announcements published during the second quarter of 2026 — merger control and joint-control assessments, conditional clearances secured through commitments, interim measures in the food sector, information exchange in labour markets, digital-platform commitments, and the criminal dimension of an ongoing cartel file.

With the number of increasing tourists expected to visit Turkey in the near future, the increasing number of airlines offering domestic scheduled flights, and the effects of a growing Turkish economy resulting in an increasing demand for air cargo transportation, the need for aircrafts in Turkey is on the rise. Currently, there are 17 licensed airlines with a total number of 212 aircraft (17 of which are for cargo transportation) and 49 licensed air taxi operators registered in Turkey. For airli