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Obtaining investor’s passport
Investor’s passport (incentive investor’s certificate) – official document which is issued by the General Directorate for foreign investments if the investment project matches the established conditions and observes the minimal demands.
The given document is issued on the basis of decision of the Council of Ministers and contains the list of material and non-material privileges provided by the state for a separate project with the aim to assist in the development of that sphere in which it is planned to invest and also with the aim to assist in the social and economic development of the region where the project is planned to be realized.
Location of the designed project and volume of the investments are the main indicators for getting the so-called investor’s passport by an investor. Investor’s passport is an incentive certificate issued by the General Directorate for the foreign investments; it gives the right to use the privileges when realizing the project i.e. partial or full exemption from the tax duties and other taxes, access to soft loans, government grants.
The main criteria for evaluating the investment projects abroad, namely to Turkey, is their technical level, competitiveness, export potential, possibilities of involvement of local resources for their realization. Geographical aspect is also important.
The balance between own and engaged capital amounts the norm of self-financing; it can’t be higher than 40% for the investment projects in the priority regions, 50% in normal regions and 60% in developed ones. The exception that doesn’t take into account the regional aspect is the investment into the organization of the air service (Air-Cargo) and sea service (Ro-Ro) – 25%, and also the building and repairing of yachts and ships where the norm of self-financing is established at 15%. Such norm is allowed for those projects which are supposed to be realized from the foreign resources.
Who may receive investor’s passport:
- Physical persons, trade enterprises, investment companies, cooperatives, co-ventures
- State agencies and organizations
- Trade union organizations which have a status of state agency
- Associations and funds
- Branches of foreign companies situated in Turkey
The system of state promotion of investments is realized in 4 main directions:
- General investments
- Regional investments
- Large-scale investments
- Strategically important investments
To receive investor’s passport one should match the criteria of one from the mentioned 4 directions.
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