Gemicioglu

Because of the functions performed by VC Investment Companies and the special conditions under which they exist, certain attributes are required for both their shareholders and their directors. In the case of conversions into VC Investment Companies, the existing shareholders must possess the qualifications specified in article 6 of the Communiqué. Accordingly, existing shareholders: Must […]

Applications for conversion should be filed with the CMB by submitting a conversion application form, the format and content of which is to be determined by the CMB, together with any documentation indicated in such form. An application submitted to the CMB should at a minimum cover a feasibility study containing information about the sectors […]

The transformation of the Joint Stock Company into a Venture Capital Investment Trust is also approved by the Capital Markets Board. The Communiqué on the Principles of Venture Capital Investment Companies (III-48.3) (“Communiqué”) as prepared by the Capital Markets Board (“CMB”) on the basis of articles 48 and 49 of the CMLaw to regulate the […]

Because technological advancement is a part of and goal for public policy and to ensure that venture capital investments, which provide significant contributions to technological advancement, are both regulated and productive, VC Investment Companies and their shareholders have been granted a number of tax benefits as explained below. Even though as joint stock corporations VC […]

The Capital Markets Law no 6362 (“CMLaw”) governs investment companies and establishes the terms for the incorporation and business of investment companies. According to the definition provided in article 48/1 of the CMLaw, “investment companies are joint stock corporations with fixed or variable capital established in order to issue their shares and with the purpose […]