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LAND ALLOCATION Law No. 4325 allows allocation of state land to the investment projects in designated priority provinces. Once designated, the State Property Authority delegates the advertisement of the land, the initial evaluation and approvals of the projects, and the land management to the provincial governors' offices. So far, 50 provinces have been designated as such priority provinces. Under Law No. 4325, state land can be given, free of charge, to an eligible investor (domestic or foreign), provided that the investor meets the following conditions: ü The project has to be pre-approved by the Undersecretariat of Treasury (by GDFI, if there is foreign participation) ü The project must be located in one of the 50 priority provinces ü The project must create at least 10 jobs ü The project must be in operation for five years to demonstrate performance before the investor can have the title of the land. To apply for the state land according to Law No. 4325, the investor must first apply to GDFI for project approval. After having the pre-approval from the GDFI, the investor should apply to the local revenue office. Then, a special Commission is organized by the local Governor's Office to review and evaluate the application. The project file is forwarded to the State Property Authority for consent and then the Governor's Office issues an authorisation to the investor. With this authorisation, the investor can use the land to make his investment. The investor would only have the use right of the land for the first five years. By the end of the five years, if the business continues to fulfill the employment obligation, the ownership of the land is given to the investor free of charge. TUBITAK (Scientific and Technological Research Council of Turkey) Supports: TUBITAK compensates the related expenses of the research & development projects incurred by the companies, which have research & development activities. This assistance is in the form of donation. Firms can cover 50% of their total expenses regarding the project. The support period cannot exceed three years for each project. There is no upper limit stated for the amount of the incentive as long as it is less than 50% of the project value.
TTGV (Turkish Technology Development Foundation) Supports: TTGV grants capital loans for research & development projects, which are classified as technological product and process innovation or technology improvement. A company having such a project will submit working plans and budget proposals to TTGV for the compensation of required expenses. An agreement will be signed by the parties for the eligible projects, which are approved by TTGV and acknowledged by the Undersecretariat of Foreign Trade. According to the provisions stipulated in the agreement and by the approval of the Undersecretariat of Foreign Trade, the capital fund is granted up to a maximum amount that covers 50 % of the expenses incurred by the company regarding the project. The project period cannot exceed two years for each project and the amount of loan cannot exceed 2 million US Dollars. Loans are repayable over a four-year period. INCENTIVES FOR THE LEAST DEVELOPED REGIONS
According to the Law for the Encouragement of Investments and Employment, No. 5084, dated February 6, 2004, additional incentives are granted to the investors that make investments in the following provinces, which have a per capita income less than $ 1500: Kırşehir, Sinop, Giresun, Amasya, Uşak, Malatya, Sivas, Tokat, Diyarbakır, Afyon, Bartın, Erzincan, Osmaniye, Düzce, Çankırı, Siirt, Gümüşhane, Ordu, Erzurum, Batman, Bayburt, Şanlıurfa, Mardin, Aksaray, Adıyaman, Kars, Van, Iğdır, Yozgat, Ardahan, Hakkari, Bingöl, Bitlis, Şırnak, Muş and Ağrı. According to the new law, the following incentives are granted for new investments starting October 1, 2003 until December 12, 2008 in the aforementioned provinces: ü Incentive on witholding of income tax, ü Insurance premium incentive for employers, ü Free land allocation, and ü Energy support.q
Mustafa Kemal Atatürk