368 / 516
On the other hand, the characteristics of the realized operations are
not the sole element which will be taken into consideration in order to
grant an extension of the duration of the operation. The applications for
the extension of duration are made to the General Directorate of the
Incentive Implementation and Foreign Capital. The Directorate may con-
clude the request of the extension of duration considering not only the
operations but also the past year’s operations of the office, the future busi-
ness plan and the objectives in Turkey of the foreign company, current
and foreseen amount of expense and the number of workers employed.
In the cases where a change of address, representative(s) of the
office or title of the foreign company comes into question, at latest
within 1 month after the realization of the change, the liaison offices
will notify to the General Directorate the lease contract indicating the
new address, the certificate of authority relating to the new appointed
person or the document(s) with respect to the change of title of the for-
eign company.
The Regulation gives the Ministry the authority to audit the oper-
ations of the liaison offices on whether they operate in accordance with
their field of operation stipulated under the law and the permits. This
control can be made ex officio or upon the written notification of the
relevant agency and institutions. As a result of the audit, the offices
which are determined to operate out of scope of the granted permit will
be given a period of thirty days as of their application in order to
receive the permit for the currently executed operation. This period can
be extended for a maximum period of thirty days in existence of valid
reasons. At the end of the given time, the operation permits of the
offices which do not make any applications will be cancelled. At the
end of the audit, the permits of the offices, which are determined to
carry out commercial operations, will be cancelled and the situation
will be notified to relevant authorities.
Conclusion
With the Regulation, the provision regarding the establishment and
the operation of the liaison offices and the required documents for the
application in order to establish a liaison office have been materially
changed, the Undersecretaries of Treasury has been replaced with the
354
NEWSLETTER 2012