Introduction Until recently, there was not any specific regulation in Turkey with respect to providing financing to entrepreneurs who had unique ideas and projects but not enough funding. However, there were indications of the preparation of a regulation regarding this issue. Angel investment capital is a financial tool for start-up or growth stage ventures that lack financing; it is a system where real persons provide financing or become a shareholder by providing capital to such ventures. State support for angel investment capital was introduced with provisional Article 82 annexed to the Income Tax Law (“ITL”) and additional article 5 of the Law regarding the Organization and Duties of the Undersecretariat of Treasury which was added with Article 14 of the Law numbered 6327.
The Regulation regarding Angel Investment Capital (“AICR” or “Regulation”), which was published in the Official Gazette dated 15.02.2013 and numbered 28560, contains principles and procedures regarding state support of angel investment capital and supervision of the activities of the investors. Within this article, the innovations brought by AICR shall be analyzed.
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