According to the Communique No. 2025-32/72 amending the Communique on the Protection of the Value of Turkish Currency published in the Official Gazette dated March 6, 2025, it is now possible for individuals residing in Türkiye to agree on the contract price and other payment obligations arising from contracts, other than vehicle sales contracts, in foreign currency or indexed to foreign currency in the sales agreements for movable goods entered into between them.

With the publication of Communique No. 2025-32/72 in the Official Gazette on March 6, 2025, which entered into force (“Amending Communique”), significant amendments have been made to the Communiqué on Decree No. 32 on the Protection of the Value of Turkish Currency (“Communique”). These amendments are particularly important regarding provisions related to payments in foreign currency.

In this context, Article 8 of the Communique includes provisions related to contracts that can be arranged in foreign currency or indexed to foreign currency. With the amendments made to paragraph 9 of the relevant article, it has become possible for individuals residing in Türkiye to agree on the contract price and other payment obligations arising from contracts, other than vehicle sales contracts, in foreign currency or indexed to foreign currency in securities sales contracts entered into between them.

Amendments Made by the Amending Communique

Paragraph 9 of Article 8 of the Communique previously stated that individuals residing in   Türkiye could agree on the contract price and other payment obligations arising from securities sales contracts, other than vehicle sales contracts, in foreign currency or indexed to foreign currency.

However, it was also specified that, apart from the cases listed in six categories for such contracts, the payment obligations would be required to be made and accepted in Turkish currency.

The regulation prior to the Amending Communique was as follows:

“(9) It is possible for individuals residing in Türkiye to agree on the contract price and other payment obligations arising from securities sales contracts, other than vehicle sales contracts, in foreign currency or indexed to foreign currency. However, except for the cases listed below, payment obligations related to these contracts must be made and accepted in Turkish currency:

  1. Payment obligations under securities sales contracts concluded before April 19, 2022, within the scope of the Communique on the Protection of the Value of Turkish Currency No. 32, as amended by the Communique No. 2022-32/66, which was published in the Official Gazette No. 31814 on April 19, 2022, and which were in circulation before the effective date of the amendment.
  2. Payment obligations under invoices issued before April 19, 2022.
  3. Payment obligations related to the buying and selling of precious metals and precious stones in foreign currency on the Istanbul Stock Exchange Precious Metals and Precious Stones Market, as well as payment obligations related to the settlement of these transactions.”
  4. Payment obligations under securities sales contracts related to exports carried out through Foreign Trade Capital Companies or Sectoral Foreign Trade Companies based on intermediary export contracts, within the scope of the Communiqué on the Status of Foreign Trade Capital Companies (Export: 2004/12), published in the Official Gazette No. 25664 dated 8/12/2004, and the Communiqué on the Status of Sectoral Foreign Trade Companies (Export: 2004/4), published in the Official Gazette No. 25510 dated 2/7/2004, as well as exports conducted through companies holding the status of an Export Consortium under the Presidential Decree No. 5973, which entered into force on 17/8/2022, within the scope of the Decision on Export Supports, and an E-Export Consortium under the Presidential Decree No. 5986, which entered into force on 24/8/2022, within the scope of the Decision on E-Export Supports.
  5. Payment obligations under securities sales contracts related to the delivery of goods subject to customs declarations, including the sale and delivery of ship supplies, as well as the delivery of goods subject to the transit and customs warehouse regimes, temporary storage, and free zone provisions under the Customs Law No. 4458 dated 27/10/1999.
  6. Payment obligations related to the delivery of goods subject to securities sales contracts concluded with companies operating in free zones within the scope of foreign trade transactions.”

With the publication of the Amending Communiqué in the Official Gazette on March 6, 2025, the provision requiring payment obligations, except for the six categories listed in paragraph 9, to be made and accepted in Turkish currency has been repealed.

Accordingly, under the amended version of paragraph 9, individuals residing in Türkiye may agree on the contract price and other payment obligations arising from securities sales contracts, other than vehicle sales contracts, in foreign currency or indexed to foreign currency.

In this context, the collection and payment of foreign currency for services, except for those explicitly prohibited by law, have become possible.

Furthermore, with this amendment, the limited liberalization of foreign currency use has both increased the flexibility of businesses in making payments in foreign currency and expanded the scope of transactions that may be conducted in foreign currency.

Another amendment introduced by the Amending Communiqué concerns paragraph 15 of Article 8, where the phrase “determined, paid, and accepted” has been modified to “determined.” With the amendment the payment and acceptance of payment obligations in foreign currency or indexed to foreign currency in some agreements with public institutions, Turkish Armed Forces Foundation companies and companies with certain certificates has been removed from the text.