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ARTICLE · 19 JULY 2018

Change In The Foreign Exchange Legislation

Erdem & Erdem Law
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The Capital Movements Circular published by the Central Bank of Turkey dated 02.05.2018 ("Circular"), amended by the resolution of Turkish Republic Prime Ministry Undersecretariat of Treasury dated 29.06.2018 ...

TurkeyGovernment, Public Sector
Erdem & Erdem
Erdem & Erdem
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The Capital Movements Circular published by the Central Bank of Turkey dated 02.05.2018 ("Circular"), amended by the resolution of Turkish Republic Prime Ministry Undersecretariat of Treasury dated 29.06.2018 and numbered 17758.

One of the significant changes foreseen under the amended Circular is the expansion in the scope of the exemptions of the foreign currency loans to be used from abroad or within Turkey, regardless of the condition of foreign exchange income.

Pursuant to the updated Circular, the foreign currency loans to be utilized from abroad or domestically by Turkish resident legal entities in order to finance the investments related with renewable energy resources covered by purchase guarantee, will be considered as exception.

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