Turkey’s Money-Credit Coordination Board has amended the financial support scheme for market research and market entry. Changes apply particularly to trademark-related costs when purchasing foreign companies which are involved in advanced technology.
The Communiqué Amending the Communiqué on Market Research and Market-Entry Support (“Amendment Communiqué“) was published in Official Gazette number 30340 on 22 February 2018.
The Amendment Communiqué addresses provisions regarding purchasing foreign companies:
- A certain percentage of loan interest expenses will be reimbursed for trademark purchases, up to a total of $2 million:
- 5% of expenses for Turkish Lira loans.
- 2% of expenses for foreign currency and foreign exchange loans.
- Maximum 50% of the trademark purchase price will be considered when calculating the loan amounts to be provided as interest support.
- Preliminary approval will be required for expenses related to interest expenditures.
- Favourable provisions will apply to any applications which were not yet finalized by 22 February 2018.
Please see this link for full text of the Amendment Communiqué (only available in