Communiqué No. 2025-32/74 (“Communiqué No. 2025-32/74”) and Communiqué No. 2025-32/75 (“Communiqué No. 2025-32/75”) amending Communiqué No. 2008-32/34 (“Communiqué No. 2008-32/34”) on Decree No. 32 on the Protection of the Value of the Turkish Currency entered into force after being published in the Official Gazette on 28.03.2024.
With the Communiqué No. 2025-32/74, the phrase “gold, silver and platinum by banks” in the Communiqué No. 2008-32/35 on the Decree No. 32 on the Protection of the Value of the Turkish Currency was amended as “gold, silver, platinum and palladium by banks”. With this amendment, banks will now be able to buy and sell palladium along with gold, silver and platinum.
Articles 5 and 6 of Communiqué No. 2008-32/34 read as follows;
“(5) In the outflows of Turkish currency and documents that provide payment in Turkish currency exceeding 25.000 TL made with the passenger, a declaration is made to the customs authorities with the cash declaration form published by the Ministry of Commerce.
(6) In the event that it is determined that no declaration is made or false or misleading declaration is made in the outflows of Turkish currency and documents that provide payment with Turkish currency exceeding 25.000 TL made with the passenger, the said values are taken under custody by the customs administration and the situation is considered suspicious and reported to the Financial Crimes Investigation Board Presidency. In addition, customs administrations shall notify the Public Prosecutor’s Office in order to take action in accordance with the first paragraph of Article 3 of the Law on the Protection of the Value of Turkish Currency dated 20/2/1930 and numbered 1567.”
As a result of the amendment introduced with the Communiqué No. 2025-32/75, the amount made with passengers has been changed to 185.000TL.
Another amendment introduced by Communiqué No. 2025-32/75 is the provisions regulated in Article 9 of Communiqué No. 2008-32/34. Accordingly, the purchase and sale of securities, other capital market instruments, all kinds of derivative instruments, including futures and options contracts, traded in financial markets abroad shall be carried out through banks and intermediary institutions authorized by the Capital Markets Board, provided that the price transfers are made through banks. However, provided that activities such as promotion, advertisement and marketing are not carried out for residents in Türkiye, derivative transactions made by residents in Türkiye with financial institutions located abroad on their own initiative are not obligatory to be carried out through banks and intermediary institutions, but the price transfers related to such transactions must be made through banks.
Turkish residents are allowed to buy and sell leveraged transactions and derivative instruments that are subject to the same provisions as leveraged transactions only through institutions authorized by the Capital Markets Board. Persons other than institutions authorized by the Capital Markets Board may not intermediate these transactions and may not make transfers abroad in relation to these transactions.
You can access the Communiqué No. 2025-32/74 and 2025-32/75 Amending the Communiqué on Decree No. 32 on the Protection of the Value of the Turkish Currency from the link below.
For detailed information and professional support during the compliance process, feel free to contact us.
This Legal Alert has been prepared for general information purposes only on current legal issues, and the evaluations contained in this Legal Alert do not constitute legal advice or a legal opinion. It is not possible to impose any liability on SRP-Legal Law Office due to the content of this Legal Alert. It is recommended to obtain the opinion of a legal advisor regarding your questions and enquires within the scope of this Legal Alert.
