Foreign Trade Capital Company Status Given to ASELSAN

Aselsan Elektronik Sanayi ve Ticaret A.Ş. (ASELSAN) was given the status of foreign trade capital company by the Ministry of Commerce.

26 companies were given the status of foreign trade capital company by the Ministry of Commerce in the decision on foreign trade capital companies, which was published in the Official Gazette dated February 2022, 31762 and numbered 74. In the Official Gazette dated 31 August 2022 and numbered 31939, Aselsan Elektronik Sanayi ve Ticaret A.Ş. (ASELSAN) was granted the status of foreign trade capital company as the 75th company.

According to the information shared by Kadir Doğan, “ASELSAN will have the right to benefit from low-interest loans in exports, convenience in VAT refunds, low-rate letters of guarantee and government supports.”

What is Foreign Trade Capital Company?

Foreign trade capital companies can be defined as companies with special status that can primarily benefit from state aids in order to develop and promote our country's exports and increase their market share.

Advantages of Being a Foreign Trade Capital Company

According to the information available at Esis Law Office, examples of the advantages mentioned in the Legislation, defined as primarily benefiting from state aids in order to develop and promote our country's exports and increase its market share;

• A lower rate of letter of guarantee is required for exports.
• Cash VAT refund is provided in return for a 4% letter of guarantee.
• Normally, customs declaration or invoice confirmation is requested for cash VAT refunds below 4.000,00 TL, but these documents are not requested from Foreign Trade Capital Companies.
• Eximbank loans are used with a lower interest rate.
• In accordance with the Customs Regulation, there is no requirement to be a manufacturer when obtaining Approved Person Status.

Source: defenceturk