Equity-Based Crowdfunding Communiqué (III–35/A.1) was published in the Official Gazette.
Equity-Based Crowdfunding Communiqué (III–35/A.1) (“Communiqué”) entered into force by publication in the Official Gazette No. 30907 on October 3, 2019.
The Communiqué stipulates that the Crowdfunding Platforms (the “Platforms”) should be included to the list by the Board to continue their activities and regulates minimum requirements for Platforms to be included in the list.
Additionally, the Communiqué regulates the principles and procedures of fund collection from the public through equity based crowdfunding and guaranteeing adherence and at the same time auditing of the publicly declared purpose of the funds.
The Communiqué has limited the amount of investment to be made through equity crowdfunding by real persons that are not classified as accredited investors within a calendar year.
In addition, Article 16 of the Communiqué regulates the principles of fund collection and Article 21 regulates qualifications required by the venture capital companies to collect funds through equity-based crowdfunding.
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