The amendment made in the Regulation on Technology Development Zones Implementation has introduced a requirement of permission for transactions related to newly established companies or the transactions enabling change of a shareholder in a company
The Regulation Amending the Regulation on Technology Development Zones Implementation (“Amendment Regulation”), published in Official Gazette dated 18 November 2023 and numbered 32373, Article 11 of the Technology Development Zones Implementation (“Regulation“) was amended and introduced a requirement of the Ministry’s permission for the transactions related to the companies to be newly established or the transactions enabling change of a shareholder in a company shareholder in order to comply with the Law and Regulation.
Before the new provision, only changes made after the publication of the articles of association of the managing company in the Turkish Trade Registry Gazette was under obligation to obtain Ministry approval
The full text of Regulation is available at this link. (Only available in Turkish).
