The principles relating to the application of the Regulations of the Istanbul Financial Center have been determined
The regulation on the implementation of the Istanbul Financial Center Regulations came into force after its publication in the Official Gazette today.
The object of the regulation; With the management and operation of the Istanbul Financial Center, which was established to increase the financial competitiveness of the Republic of Turkey in the international arena, contribute to the development and deepening of markets and financial products and services, and strengthen integration with markets international. finance and capital markets, with the issuance of a participant certificate and the operation of a one-stop office. It was to determine the procedures and principles related to the implementation of the Istanbul Financial Center Law dated June 22, 2022 and number 7412.
PARTICIPANT CERTIFICATE REQUIRED
It has become mandatory to obtain a certificate of participation in order to operate in the office area of the Istanbul Financial Center and to benefit from the provisions of Law No. 7412 and other relevant legislation.
The Finance Office is authorized and responsible for the evaluation of applications for certificates of participation from participating candidates, the development of new evaluation methods, the awarding of certificates to those whose applications are considered suitable, the rejection of applications for those whose applications are not suitable. , the participant certificate will be suspended and/or cancelled, the form and content of the participant certificate will be determined and changed.
Participation certificates will not be issued to individuals, institutions and organizations operating in areas outside the scope of the Istanbul Financial Center.
APPLY AS PARTICIPATING CANDIDATES
Natural and legal persons, branches, representative offices, ordinary companies, liaison offices, regional treasury and financial management centers and national wealth funds who wish to operate in the office area of Istanbul Financial Center shall apply to the Office of Finance as participating candidates to get a participant. certificate.
Within the scope of the regulation, the work and transactions related to the rental of sections and independent areas in the Istanbul Financial Center will be carried out by the management company. (AA)