Transactions related to companies operating in Turkey with direct foreign capital will now be carried out via Electronic Incentive Implementation and Foreign Investment Information System (E-TUYS).

This will be according to the Economy Ministry's "Regulation on the Amendment to the Regulation for Implementation of Foreign Direct Investment Law," which entered into force after being published in the Official Gazette. Accordingly, transactions regarding the companies and branches covered by the law will be carried out via E-TUYS. The information to be requested from the company and its branches will be uploaded to E-TUYS by authorized users.

Foreign companies and branches will enter E-TUYS, which is accessed by the ministry's web page within one month, via the authorized user, and fill in the "investor," "partner's list" and "affiliated subsidiaries" fields.

The "Activity Information Form for Foreign Direct Investments" in the system will be completed in electronic form on an annual basis and every year up until the end of May.

In case of capital increase or decrease in companies, the information will be registered into the system within one month at the latest.

The companies' payments regarding the capital increase or the share transfer will be entered electronically into "Capital Information Form for Foreign Direct Investments" in the system within one month following the payment.

The transfer of shares of domestic or foreign partners to any investor in-house or outside the company will be entered into the system within one month after the realization of the transfer.

The companies with domestic capital will be registered in E-TUYS with the affiliation of a foreign investor's participation in the capital increase.In case of changes in information such as title, tax office and contact, the companies will update them on E-TUYS. With regard to the changes in the tax numbers of the companies, they should apply to the Economy Ministry with the relevant documents. Companies that cease operations will report this to the ministry with the relevant documents. The user authorizations of these companies will be canceled accordingly. Users who will carry out transactions on E-TUYS will have a qualified electronic certificate to be obtained from electronic certificate service providers. Users will contact the Economy Ministry for authorization. The authority of the user may be canceled upon the application of the companies and branches covered by the law.