The Decree No: 85 – Introducing Foreign Currency Restrictions in Various Types of Contracts

Hergüner Bilgen Özeke

Sale and lease of moveable properties

The sale and lease of moveable properties is a category that the Communiqué treats highly generously in terms of exceptions. Accordingly, a sale or lease contract concerning movable property between two Turkish residents is not subject to the foreign currency restriction unless it concerns vehicles, including construction vehicles. While contracts concerning vehicles remain subject to the foreign currency restrictions, the Communiqué draws a line between vehicle lease contracts (rather than sale) executed before or after 13 September 2018, the date in which Decree No: 85 entered into force, and provides that vehicle lease contracts executed prior to 13 September 2018 are not subject to the restrictions.

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