With the Presidential Decree dated November 11, 2024, and numbered 9124, various amendments have been made to the Decision on State Aid for Investments Based on Projects.
As may be recalled, project-based incentive practices were first introduced to the business world with the Law No. 6745 on the Support of Investments Based on Projects and Amendments to Certain Laws and Decrees, published in the Official Gazette on September 7, 2016, and the Council of Ministers’ Decision No. 2016/9495, which entered into force on October 17, 2016.
The most recent amendments impact both project-based investments and investments under the Technology-Oriented Industry Initiative Program.
The changes can be summarized as follows:
- The minimum investment amount requirement under the project-based incentive system has been increased from 1 billion TL to 2 billion TL.
- Implementation of energy support during the investment period has been facilitated, and requirements related to the realization of machinery and equipment investments have been removed.
- The timeframe for utilizing half of the energy support during the investment period has been shortened, allowing investors to access the support more quickly.
- Presidential Decisions on investments to be supported will no longer be published in the Official Gazette.
- Under the Technology-Oriented Industry Initiative Program, the minimum investment amount required for supported investments has been raised from 50 million TL to 100 million TL.
The amendments came into force on November 11, 2024.
Please find the full text of the Decision at the following link:
https://www.resmigazete.gov.tr/eskiler/2024/11/20241111-0.pdf
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