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All Articles [ 135 ]
Updates to Withholding Tax on Money Market Funds
With the publication of the Presidential Decision No. 11734 in the Official Gazette, institutional investors’ gains derived from money market funds and similar hedge funds are now subject to withholding tax, effective from 5 September 2026. Presidential Decision No. 11734 (the “Decision”) was published in the Official Gazette numbered 33361 of 5 September 2026 and entered into force on the same date. The Decision amends the Decision No. 2006/10731 of the Council of Ministers, which sets forth the withholding tax rates applicable to certain investment returns. The Decision raised the withholding tax rate applicable to gains derived from investments in...
Uzaktan Kimlik Tespiti ve Temsil Yetkisinin Doğrulanmasında Yeni Esaslar
Aracı kurumlar, portföy yönetim şirketleri ve kripto varlık hizmet sağlayıcılar (Kurumlar) tarafından uygulanacak Türk uyruklu olmayan gerçek kişilerin uzaktan kimlik tespiti süreçlerine ve tüzel kişilerin uzaktan kimlik tespiti ile temsile yetkili kişilerin temsil yetkilerinin doğrulanmasına ilişkin esaslarda yeni düzenlemeler getirilmiştir. III-42.1 sayılı Aracı Kurumlar, Portföy Yönetim Şirketleri ve Kripto Varlık Hizmet Sağlayıcılar Tarafından Kullanılacak Uzaktan Kimlik Tespiti Yöntemlerine ve Elektronik Ortamda Sözleşme İlişkisinin Kurulmasına İlişkin Tebliğ’de Değişiklik Yapılmasına Dair Tebliğ (III-42.1.b) (“Tebliğ”) 3 Eylül 2026 tarihli ve 33359 sayılı Resmî Gazete’de yayınlanarak yürürlüğe girmiştir. 1. Türk Uyruklu Olmayan Gerçek Kişilerin Uzaktan Kimlik Tespiti Kurumlar, sürekli iş ilişkisinin tesisi tarihinde Türk...
Major Amendments to the Guide on Investment Funds
Capital Markets Board (CMB) has adopted major resolutions on 28 August 2026, amending (i) capital adequacy requirements of portfolio management companies and (ii) multiple sections in the Guide on Investment Funds (the Guide) particularly concerning hedge funds and money market funds including management rules, concentration limits, ownership disclosures, new instrument-related rules. CMB’s resolution dated 28 August 2026 and numbered 52/1589 (the “Resolution”) was published in the CMB Bulletin dated 28 August 2026 and numbered 2026/54. The Resolution has amended (i) the Guide and (ii) the capital adequacy requirements of portfolio management companies. Please find below our explanations on the major...
CMB Expands English Material Event Disclosure Requirement to All Listed Companies
Capital Markets Board of Türkiye (CMB) has expanded the scope of the existing English material event disclosure requirement for first group public companies to all public companies listed in Borsa Istanbul A.S. (Borsa Istanbul), effective from 1 October 2026. CMB’s Resolution dated 13 August 2026 and numbered 49/1489 (Resolution), amending the Section “IV. Language and Form of Material Event Disclosures” of CMB’s Material Events Guide was published in the CMB Bulletin numbered 2026/51. Resolution requires all Turkish public companies whose shares are listed on Borsa Istanbul to disclose their material events in Public Disclosure Platform, in accordance with the applicable...
Transfer of Yields: Foreign-Capital Entities and Non-Residents
The transfer of profits obtained by foreign-capital entities from their operations in Türkiye, as well as the transfer of profit shares of foreign-capital partnerships and the income (dividends, profit shares and interest) derived by non-residents from securities and other capital market instruments purchased in Türkiye, shall be carried out by banks in accordance with the principles set out in the Circular on Invisible Transactions dated 18 May 2026. 1. Background As per Decision No. 32 on the Protection of the Value of the Turkish Currency, net profits, dividends, proceeds from sales, liquidation proceeds and compensation payments arising from foreign investors’...