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Open a Hedge Fund in Turkey

Updated on Friday 30th September 2016

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Open-a-hedge-fund-in-TurkeyTurkey has a well-developed investment fund industry due to the legislation which defines several types of funds that can be established here. Moreover, foreign investment funds are also allowed to trade on the Turkish capital markets, provided that they sell their assets in the Turkish national currency and meet the criteria of the Capital Markets Board (CMB) which is in charge with the approval of all types of investment funds, including hedge funds.

Hedge funds are only available to professional investors or wealthy accredited individuals in Turkey, as these types of funds have complex portfolio and are subject to higher risks. Our company formation agents in Turkey can offer information on the legislation applicable to hedge funds.

Types of hedge funds in Turkey

In Turkey, hedge funds are similar to mutual funds and can be separated into type A and type B funds. While type A funds must invest a minimum 25% of their assets in equity, type B funds are not subject to these criteria. Also, type A hedge funds must only invest in equity traded by Turkish companies. Our company registration consultants in Turkey can offer more information on the criteria to be met for establishing a hedge fund.

How to set up a hedge fund in Turkey

Hedge funds in Turkey can be set up as open-ended investment company. The regulations to be followed by the fund will be stated in its statutes which will contain:

  • -          the hedge fund’s internal regulations;
  • -          the management of the fund;
  • -          the terms and conditions for investing in the fund;
  • -          the Net Value Asset (NAV) calculation.

The Turkish hedge fund’s statutes will be submitted with the CMB for approval.

Why open a hedge fund in Turkey?

About 60% of the investment funds established in Turkey at the moment are set up by accredited investors mostly due to the fact that in 2013 the CMB enabled a new law which provided for the promotion of hedge funds in the media, including the social media which has attracted a great number of investors. Turkish hedge funds also benefit from a corporate tax exemption since 2002, which is another good reason for setting up this type of fund.

For assistance in opening a hedge fund in Turkey, please feel free to contact our local company incorporation representatives.

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