LAW ON FOREIGN INVESTMENT IN TURKEY
In the followings matters and sectors, foreigners have limited access or no access at all, under current legislation :
Media, radio and television broadcasting : Under the Law governing the establishment of radio and television broadcasting institutions, the share of foreign capital in a private company operating in the media-broadcasting sector cannot exceed 50% of the capital paid up. Any foreign investor who is already a partner in a radio & TV company cannot hold any additional shares in another private company.
Transportation railways infrastructure services : The sole operator of the infrastructure services in Turkey is the Turkish National Railway Institution.
Port management : The foreign capital of a private company operating in the port management sector cannot exceed 49%. The majority of the administrators and the representatives of the private company are to be Turkish citizens and the majority of votes in the statute of the company have to belong to Turkish citizens. (Law on Privatization Practices, No 4046)
Transportation in coastal waters and rivers : Transportation and trade activities in Turkey's coastal waters and rivers are under the sovereignty of Turkish citizens. (Cabotage Act, No 815)
Yacht ports management : Companies with foreign capital can only operate in the yacht ports management sector if they form a partnership with Turkish citizens. (Law on Tourism Incentives, No 2634)
Petroleum : The conditions for foreign companies seeking to invest in direct petroleum activities are subject to the Petroleum Law, Article 12.
Air transportation : For companies interested in commercial air transportation of passangers and cargo, the majority of the shareholders are to be Turkish citizens. The majority of the administrators and the representatives of the private company are to be Turkish citizens. (Regulation of Commercial Air Transportation, Article 8)
Airport ground handling services : For A or C type private companies requesting operation licenses, the majority of the administrators and the representatives of the private company are to be Turkish citizens, and the majority of votes in the statute of the company have to belong to Turkish citizens. (Regulation of Ground Handling, Article 7)
Management of airports : Although there is no restriction on private capital investment in this market, the issuing of licenses for such companies is subject to approval by the Turkish Armed Forces. (Regulation of Civil Aviation, Article 34)
