Communiqué on Amendments to the Communiqué (Communiqué No: 2008-32/34) Regarding the Decree No. 32 on the Protection of the Value of Turkish Currency Published

With the Communiqué on Amendments to the Communiqué Regarding Decree No. 32 on the Protection of the Value of Turkish Currency (Communiqué No: 2008-32/34) (Communiqué No: 2025-32/72) (“Communiqué”), published in the Official Gazette dated 06.03.2025 and numbered 32833, regulations have been introduced concerning agreements for the sale of movable property, (excluding vehicle sales), between residents of Türkiye, as well as agreements, excluding real estate sales and rental agreements, involving public institutions, Turkish Armed Forces Strengthening Foundation companies, and companies holding (A) or (B) level certificates under the Industrial Competency Evaluation and Support Program. These regulations allow for agreements to be concluded in foreign currency or indexed to foreign currency, while requiring payments to be made in Turkish currency.

The regulations introduced under the Communiqué are summarized below for your information.

Regarding the Obligation for Payment of the Sale Price of Movable Property Agreements, Excluding Vehicle Sale Agreements, in Turkish Currency Between Residents of Türkiye.

As is known, Article 8, paragraph 9 of the Communiqué Regarding Decree No. 32 on the Protection of the Value of Turkish Currency (Communiqué No: 2008-32/34), titled “Agreements in Foreign Currency and Indexed to Foreign Currency,” allowed residents of Türkiye to agree on the agreement price and other payment obligations arising from movable property sale agreements, excluding vehicle sale agreements, in foreign currency or indexed to foreign currency.

Furthermore, with the Communiqué on Amendments to the Communiqué Regarding Decree No. 32 on the Protection of the Value of Turkish Currency (Communiqué No: 2008-32/34) (Communiqué No: 2022-32/66), the following sentence was added to the end of the relevant paragraph: “ However, it is mandatory that the payment obligations under the agreement be fulfilled and accepted in Turkish currency.” As a result, a requirement was introduced for payments to be made in Turkish currency for agreements agreed upon in foreign currency.

However, with the new regulation introduced under the Communiqué, residents of Türkiye are now allowed to make payments in foreign currency for the contract prices in agreements for the sale of movable property—excluding vehicle sales—concluded among themselves.

Regarding the Amendment in the Foreign Currency Payment Provision in Agreements Involving Public Institutions, Turkish Armed Forces Strengthening Foundation Companies, and Companies Holding (A) or (B) Level Certificates Under the Industrial Competence Evaluation and Support Program

One other amendment introduced under the Communiqué pertains to agreements- excluding real estate sales and rental agreements—involving public institutions, Turkish Armed Forces Strengthening Foundation companies, and companies holding (A) or (B) level certificates under the Industrial Competence Evaluation and Support Program.

With the amendment introduced, while it was previously possible for the amounts of these agreements and other payment obligations arising from them to be determined in foreign currency or indexed to foreign currency, it is no longer possible for them to be paid and accepted in foreign currency or indexed to foreign currency.

Effective Date

The Regulation will enter into force on its publication date, 06.03.2025.