Thanks to advances in globalization, the capital flow has changed worldwide. Therefore, Turkey has started to regulate the details of foreign invesment to get a share of the cake. Foreign Direct Investment Law (“FDIL”) is one of the most important legislation for foreign investors in Turkey. The framework of the Foreign Direct Invesment (“FDI”) is restricted by law numbered 4875 and dated 17.06.2003 which is above mentioned as FDIL (please see our related articles…).
One of the issue about FDI is determination of policies and data collection in FDI in Turkey. The power of procuration about this issue is on the Undersecretariat’s mandate. Taking into account the objectives of the development plans and annual programs, general economic status of the country, trends in international investments, the Undersecretariat is authorised to determine the general framework of policies regarding foreign direct investments.
Moreover, for establishing and developing an information system related to FDI, it has required to collect all the information from public institutions and private sector professional organisations. To transfer into practice this issue, the Undersecretariat is authorised to request statistical information on investments from all public institutions and private sector of professional organizations.
To start establishing and developing an information system related to FDI, the statistical information on foreign invesments has to be submitted by foreign investors to the Undersecretariat. As a natural consequence, the way of submission is regulated by the Undersecretariat. The procedures and principles of submission is determined by a legislation to be enacted by Undersecretariat. In addition to that, the law maker emphasis the importantance of protection about such an information that cannot be used as evidence or for any means other than for statistical purposes.
Hukuk Desteği (Legal Support)
iletisim: [email protected]