Amendment to the Decree on the State Aids for Investments

The Presidential Decree dated 08.05.2020 and numbered 2501 on the Amendment to the Decree on State Aids for Investments (“Decree”) entered into force through publication in the Official Gazette dated 09.05.2020 and numbered 31122.

Pursuant to the the provisional article 14 added to the Decree, to ensure the completion of the investments within the scope of investment incentive certificates issued before 11 March 2020 and which are currently in force, among the investments which remain unfinished or incomplete due to natural and biological disasters such as earthquakes and epidemics, an additional period up to one year may be granted, upon request.

On the other hand, the provision stipulated above shall not apply together with the provisional article 6 of the Decree providing that an additional period which does not exceed the original period stated on the investment incentive certificate may be granted, upon request, to ensure the completion of the investments within the scope of investment incentive certificates issued before 1 June 2015 and which are currently in force, among the investments which remain unfinished or incomplete due to security issues.

You may find the Turkish version of the Presidential Decree which amends the Decree here.