A decree entitled “Decree 2014/6588” has published on August 6, 2014 in the Official Gazette which amends Decree 2012/3305 on the investment incentives regime. Decree 2014/6588 entered into force on its publication date. The major requirements of Decree 2014/6588 are given as follows:

  • According to Decree 2014/6588, investment is considered as ‘investment with special priority’ and the whole amount of the investment is not less than TRL 1 billion. The subsidy rate for investment will be determined by adding 10 points to the investment subsidy rate established for the 5th Region (consisting of provinces in Central and Eastern Turkey). But under decree 2012/3305, there exists variation in subsidy rates and CIT rates for six different regions.
  • The investments in manufacturing carbon fiber will be considered as “investments with special priority”.
  • The least amount of investment and the investment completion visa requirements will not be needed of the investments made by public entities.