Obtaining an investment incentive certificate is only one stage of the project. The investor must then implement the approved investment and retain evidence supporting the benefits used. Compliance should be built into purchasing, accounting and project management from the start. A certificate kept in a legal file will not prevent operational decisions from drifting outside its scope.
Create a certificate obligations register
Record the beneficiary, approved activity, location, investment period, equipment lists and support elements. Identify the governing decision and amendments applicable to the certificate rather than assuming all certificates follow identical rules. Convert each condition into an owner, deadline and evidence requirement. Share the register with procurement and finance so commitments are checked before expenditure occurs.
Control purchases and supporting records
Match orders and invoices to the approved project and the relevant procedures before claiming a benefit. Reconcile supplier descriptions, customs documents, payment records and asset entries. Where equipment specifications change, flag the change before delivery rather than discovering it during completion review. Keep a clear record of which entity incurred the expenditure; group-company spending should not automatically be treated as the beneficiary’s eligible investment.
Review changes before implementation
Changes to location, capacity, equipment, ownership or project timing may affect the approved support or trigger an administrative step. Maintain a change-control process requiring legal and finance review before material decisions. Obtain the relevant amendment or confirmation where needed and preserve the correspondence. A commercial reason for changing the project does not by itself establish that the original support continues unchanged.
Plan completion evidence early
Confirm the applicable completion procedure and deadline for the specific certificate using current rules. Older manuals may describe a different regime or period. Build the file progressively with expenditure, installation and operational evidence, and identify any specialist report required. Do not leave reconciliation until the investment period ends. Unexplained differences between approved lists and actual assets can delay completion review.
Include incentives in transaction diligence
A buyer should review benefits already used, unresolved conditions, amendments and any authority inquiry. Ask whether the proposed sale, restructuring or asset disposal affects ongoing commitments. Quantify identified exposure with tax and incentive specialists rather than relying on the certificate’s face value. Allocate known issues in the purchase agreement and retain access to historic records needed for later review.
Investor checklist
- Certificate-specific conditions and governing regime.
- Reconciled orders, invoices, customs and asset records.
- Documented review of proposed changes.
- Current completion procedure and evidence calendar.
- Transaction and disposal implications.
For transaction-specific support, see our investment legal advice and tax and trade finance services.
Continue with: Battery Manufacturing Investment in Turkey: Incentives, Permits and Supply Agreements; Semiconductor Investment in Turkey: Technology Transfers and Incentive Commitments.
Frequently asked questions
Does a certificate guarantee every projected saving?
No. Benefits depend on the applicable conditions and actual implementation.
Can an old procedural guide be used without checking updates?
No. Confirm the rules applicable to the certificate and the action being taken.
Should incentives be reviewed in an acquisition?
Yes. Historic use and continuing commitments can affect transaction value and risk.
