EXTENSION OF DEADLINE PERIOD TO APPLY FOR CERTIFICATE OF AUTHORISATION FOR JEWELRY TRADE ACTIVITIES

As we informed you with our Newsletter dated 23 November 2021, the Regulation on Jewelry Trade (the “Regulation”) has been published in the Official Gazette numbered 31454 on 14 April 2021 and entered into force as of the same date.

The deadline of applying for a certificate of authorization was initially set as 31 December 2021.

However, with the Amending Regulation on the Regulation on Jewelry Trade (in Turkish “Kuyum Ticareti Hakkında Yönetmelikte Değişiklik Yapılmasına Dair Yönetmelik”) (the “Amending Regulation”) published in the Official Gazette on 24 December 2021 and entered into force as of the same date, the said deadline has been extended.

Accordingly, the deadline for obtaining the authorization certificate for the operating jewelry businesses has been extended until 30 June 2022.

Kindly note that the Amending Regulation also provides that the requirement for a mastership certificate has been postponed until 31 December 2022. The jewelry business will be able to fulfill this requirement by submitting their mastership certificate online or to Istanbul provincial trade directorate by such date, otherwise their authorization certificate shall be cancelled.

In this context, the businesses which are required to obtain a mastership certificate as well as to apply for authorization certificate should carefully comply with the above regulation.

Our Law Firm remains at your disposal for any further clarifications you may need.