Firstly, after establishing a company in Turkey, foreigners are required to fulfil some obligations. Such as, notification obligations, fulfil tax procedures and complete labour law procedures for employees.
Within the scope of foreign direct investment, one of the procedures to be performed by foreigners after establishing a company in Turkey is to fulfil their information obligations within the scope of FIDIC by entering and keeping their information up-to-date through E-TUYS.
Pursuant to Article 9 et seq. of the Regulation on the Implementation of the Foreign Direct Investment Law, these persons must carry out the procedures some examples listed below.
- Within 1 month at the latest from the date of authorisation, it shall log in to E-TUYS, which is accessible on the Ministry’s website, and electronically record the information in the fields of ‘Investor’, ‘Partner List’ and ‘Affiliates’, if any,
- The fields in Annex-1 Activity Information Form for Foreign Direct Investments in E-TUYS regarding the activities of the company or branch are filled in on an annual basis and by the end of May each year at the latest,
- In case of a capital increase or decrease, it enters the ‘Shareholders List’ field in ETUYS within 1 month at the latest,
- If there are payments made for capital increase or share transfer, the fields in Annex-2 Capital Information Form for Foreign Direct Investments in ETUYS are filled in within 1 month following the payment,
- Following the transfer of shares by existing domestic or foreign shareholders among themselves or to any other domestic or foreign investor outside the company, the ‘List of Shareholders’ field in E-TUYS shall be updated within 1 month at the latest following the transfer of shares (Article 5 of the FIDIC Directive).
