On Oct. 7, TUR CMA reminded real estate investment funds changes.
TUR CMA issued general letter 899 re changes to communiqué III-52.3 on real estate investment funds and communiqué III-52.4 on venture capital investment funds.
Document dated Oct. 7, 2024, was received on Oct. 29, 2024, due to a new feed.
Changes
Changes due to amending communiqué III-52.3.f on real estate investment funds (GYF communiqué), published in the official gazette of Jul. 7, 2024, numbered 32604.
Changes due to amending communiqué III-52.4.c on principles of venture capital investment funds (GSYF Communiqué), published on Sep. 21, 2024, numbered 32669.
Letter E-12233903-225.99-61039 of Oct. 4, 2024 in the annex, details these changes.
Reporting Requirements
Following the amendments, real estate investment funds' founders must submit to TUR CMA information on the completion of the compliance process as of Dec. 31, 2024.
Also, submit a declaration that all investors have signed the fund issuance agreements, by specifying the number of investors for each fund separately, until Jan. 6, 2015.
Founders of venture capital investment funds must submit to TUR CMA information on the compliance process as of Jun. 30, 2025 and the declaration until Jul. 7, 2025.
Regulators
TUR CMA
Entity Types
B/D; Bank; HF; IA; Inv Co
Reference
Lt 899, 10/7/2024; Lt E-12233903-225.99-61039, 10/4/2024; Com III-52.4.c, OG 32669, 9/21/2024; Com III-52.3.f, OG 32604, 7/7/2024
