Deadline to submit the Activity Information Form for Foreign Direct Investments

As notified in our Newsletter in February 2019, the Regulation on the Implementation of the Foreign Direct Investments Law (in Turkish, “Doğrudan Yabancı Yatırımlar Kanunu Uygulama Yönetmeliği”, hereinafter referred to as the “Regulation”) sets forth in its Article 5 certain liabilities for foreign capital companies and branches falling under the scope of Foreign Direct Investment Code (in Turkish “Doğrudan Yabancı Yatırımlar Kanunu”) .

Our present Newsletter is to remind that, among such liabilities listed in our Newsletter of February 2019, the Annex-1 Form (Activity Information Form for Foreign Direct Investments, in Turkish “Ek 1- Uluslararası Doğrudan Yatırımlar için Faaliyet Bilgi Formu”) available on E-TUYS system shall be filled in and submitted in electronic media by the Authorized E-TUYS User of the Company/ the Branch on an annual basis by the end of May at the latest.

As to the appointment of the Authorized E-TUYS Users, the below steps shall be followed:

The application file comprising the required documents shall be duly prepared and presented to the Ministry of Industry and Technology (hereinafter referred to as the “Ministry”). We recommend such delivery to be made either by hand or by return receipt requested courier as it cannot be submitted online.

The required documents are as follows :

• Petition for application;
• E-TUYS Authorization Form disclosing the basic information related to the Company/the Branch and to the person to be assigned as Authorized User;
• Notarized Undertaking Form disclosing the information pertaining to the person to be assigned and whereby it is stated that the Company shall be liable for the acts to be conducted by the Authorized User via E-TUYS system;
• Circular of Signatures of the Compnay/the Branch

Kindly note that the person to be appointed as Authorized E-TUYS User shall have an e-signature device (a ‘qualified electronic certificate’; in Turkish “Nitelikli Elektronik Sertifika”) from a service provider entitled to provide such service and shall be a Turkish citizen due to the practical reason, such as login to the system with a Turkish ID number.

Once the application is approved by the Ministry, an e-mail will be sent to the Authorized E-TUYS User who shall then be required to submit certain information (such as shareholding structure) related to the Company via the E- TUYS system. Thereafter, the final approval related to the appointment of the Authorized User will be notified to him/her via another e-mail; and the appointment procedure shall thusly be accomplished.

Our Law Firm remains at your disposal for any further clarifications and assistance you may require.