{"id":2885,"date":"2024-09-23T21:38:42","date_gmt":"2024-09-23T18:38:42","guid":{"rendered":"https:\/\/yasarlaw.com\/tr\/?page_id=2885"},"modified":"2024-09-23T21:40:42","modified_gmt":"2024-09-23T18:40:42","slug":"girisim-sermayesi-yatirim-fonlarina-iliskin-esaslar-tebliginde-onemli-degisiklikler","status":"publish","type":"page","link":"https:\/\/yasarlaw.com\/tr\/yayinlar\/girisim-sermayesi-yatirim-fonlarina-iliskin-esaslar-tebliginde-onemli-degisiklikler\/","title":{"rendered":"Giri\u015fim Sermayesi Yat\u0131r\u0131m Fonlar\u0131na \u0130li\u015fkin Esaslar Tebli\u011finde \u00d6nemli De\u011fi\u015fiklikler"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"2885\" class=\"elementor elementor-2885\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-1683c794 elementor-section-stretched elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"1683c794\" data-element_type=\"section\" data-settings=\"{&quot;stretch_section&quot;:&quot;section-stretched&quot;,&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t\t<div class=\"elementor-background-overlay\"><\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-no\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-5ef10a83\" data-id=\"5ef10a83\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-d0a8f48 elementor-widget__width-auto elementor-absolute elementor-widget elementor-widget-text-editor\" data-id=\"d0a8f48\" data-element_type=\"widget\" data-settings=\"{&quot;_position&quot;:&quot;absolute&quot;}\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"color: #ffffff;\"><strong>Giri\u015fim Sermayesi Yat\u0131r\u0131m Fonlar\u0131na \u0130li\u015fkin Esaslar Tebli\u011finde \u00d6nemli De\u011fi\u015fiklikler<\/strong><\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-37652bf2 elementor-section-stretched elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"37652bf2\" data-element_type=\"section\" data-settings=\"{&quot;stretch_section&quot;:&quot;section-stretched&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-wider\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-135ac3b9\" data-id=\"135ac3b9\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-7f2267ca elementor-widget elementor-widget-text-editor\" data-id=\"7f2267ca\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Giri\u015fim Sermayesi Yat\u0131r\u0131m Fonlar\u0131na \u0130li\u015fkin Esaslar Tebli\u011fi (III-52.4)\u2019nde (\u201c<strong>Tebli\u011f<\/strong>\u201d) De\u011fi\u015fiklik Yap\u0131lmas\u0131na Dair Tebli\u011f (III-52.4.c) (\u201c<strong>De\u011fi\u015fiklik Tebli\u011fi<\/strong>\u201d), 21.09.2024 tarihli Resm\u00ee Gazete\u2019de yay\u0131mlanarak y\u00fcr\u00fcrl\u00fc\u011fe girdi. De\u011fi\u015fiklik Tebli\u011fi, giri\u015fim sermayesi yat\u0131r\u0131m fonlar\u0131na (\u201c<strong>GSYF<\/strong>\u201d) ili\u015fkin \u00f6nemli d\u00fczenlemeler i\u00e7ermektedir.<\/p>\n<p>De\u011fi\u015fiklik Tebli\u011fi ile yat\u0131r\u0131mc\u0131 bilgi formu kald\u0131r\u0131lm\u0131\u015f ve fon ihra\u00e7 s\u00f6zle\u015fmesi getirilmi\u015ftir. Fon ihra\u00e7 s\u00f6zle\u015fmesi, fon ile kat\u0131lma pay\u0131 sahipleri aras\u0131nda bireysel veya toplu olarak akdedilecek ve asgari olarak Tebli\u011f\u2019in d\u00f6rd\u00fcnc\u00fc ekinde say\u0131lan hususlar\u0131 i\u00e7erecektir. Kat\u0131lma paylar\u0131n\u0131n nitelikli yat\u0131r\u0131mc\u0131ya sat\u0131\u015f\u0131 \u00f6ncesinde fon ihra\u00e7 s\u00f6zle\u015fmesi imzalanmas\u0131 zorunlu k\u0131l\u0131nm\u0131\u015ft\u0131r. Ancak, kat\u0131lma paylar\u0131n\u0131n borsadan al\u0131nmas\u0131 halinde bu zorunluluk aranmayacakt\u0131r. Fon ihra\u00e7 s\u00f6zle\u015fmesinin s\u00f6zle\u015fmenin bir \u00f6rne\u011fi portf\u00f6y saklay\u0131c\u0131s\u0131na iletilecektir. Fonun KAP sayfas\u0131nda s\u00f6zle\u015fmenin bir \u00f6rne\u011fine yer verilecek, s\u00f6zle\u015fmenin de\u011fi\u015ftirilmesi halinde revize s\u00f6zle\u015fme yine KAP\u2019ta ilan edilecek ve portf\u00f6y saklay\u0131c\u0131s\u0131na g\u00f6nderilecektir.<\/p>\n<p>De\u011fi\u015fiklik Tebli\u011fi \u00f6ncesinde GSYF\u2019lerin \u015femsiye fon ya da fon sepeti fonu olarak ihra\u00e7 edilmesi m\u00fcmk\u00fcn de\u011fildi. De\u011fi\u015fiklik Tebli\u011fi uyar\u0131nca GSYF\u2019nin her kat\u0131lma pay\u0131 ihrac\u0131nda ayr\u0131 bir ihra\u00e7 belgesi d\u00fczenleyerek \u015femsiye fona ba\u011fl\u0131 olarak fon ihra\u00e7 etlmesi m\u00fcmk\u00fcn k\u0131l\u0131nm\u0131\u015ft\u0131r. Bu durumda her bir fonun t\u00fcm varl\u0131k ve y\u00fck\u00fcml\u00fcl\u00fckleri birbirinden ayr\u0131 olacakt\u0131r. \u015eemsiye fon ya da fon sepeti fonu ihrac\u0131 i\u00e7in gerekli di\u011fer ko\u015fullar De\u011fi\u015fiklik Tebli\u011fi\u2019nde d\u00fczenlenmi\u015ftir.<\/p>\n<p>Tebli\u011f uyar\u0131nca GSYF\u2019ler, T\u00fcrkiye\u2019de kurulu veya kurulacak olan veya yat\u0131r\u0131m yap\u0131ld\u0131\u011f\u0131 tarih itibar\u0131yla yurt d\u0131\u015f\u0131nda kurulu olmakla birlikte son y\u0131ll\u0131k finansal tablolar\u0131na g\u00f6re varl\u0131klar\u0131n\u0131n en az %80\u2019i T\u00fcrkiye\u2019de kurulu ba\u011fl\u0131 ortakl\u0131k ya da i\u015ftiraklerden olu\u015fan giri\u015fim \u015firketlerine yat\u0131r\u0131m yapabilmekteydi. Yurt d\u0131\u015f\u0131nda kurulu olan \u015firketler i\u00e7in bu oran, %51\u2019e indirilmi\u015ftir.<\/p>\n<p>Paya d\u00f6n\u00fc\u015ft\u00fcr\u00fclebilir bor\u00e7lanma senetleri, GSYF\u2019lerin giri\u015fim \u015firketlerine bor\u00e7 ve sermaye finansman\u0131 karmas\u0131 olarak yap\u0131land\u0131r\u0131lm\u0131\u015f finansman niteli\u011finde yat\u0131r\u0131m yapabilece\u011fi h\u00fckm\u00fcyle Tebli\u011f\u2019de halihaz\u0131rda d\u00fczenlenmekteydi. De\u011fi\u015fiklik Tebli\u011fi, giri\u015fim \u015firketlerine ileri vadede ortak olma hakk\u0131 veren ya da verecek s\u00f6zle\u015fmeler yoluyla yap\u0131lan yat\u0131r\u0131mlar\u0131n giri\u015fim sermayesi yat\u0131r\u0131m\u0131 olarak kabul edilece\u011fini a\u00e7\u0131k\u00e7a d\u00fczenlemi\u015ftir. B\u00f6yle olmakla birlikte bu de\u011fi\u015fikli\u011fin anlaml\u0131 bir kar\u015f\u0131l\u0131\u011f\u0131n\u0131n olabilmesi i\u00e7in, paya d\u00f6n\u00fc\u015ft\u00fcr\u00fclebilir bor\u00e7lanma senetleri; \u015firketin kendi paylar\u0131n\u0131 iktisap yasa\u011f\u0131, \u00f6rt\u00fcl\u00fc sermaye, tefecilik su\u00e7u, izinsiz kredi kulland\u0131rma gibi d\u00fczenlemeler \u0131\u015f\u0131\u011f\u0131nda daha uygulanabilir bir d\u00fczleme oturtulmal\u0131d\u0131r.<\/p>\n<p>Herhangi bir sorunuz olmas\u0131 halinde bize ula\u015fabilirsiniz.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-4fe75500 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"4fe75500\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-3dd48092\" data-id=\"3dd48092\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-10e39b76 elementor-shape-square elementor-fixed elementor-grid-0 e-grid-align-center elementor-widget elementor-widget-social-icons\" data-id=\"10e39b76\" data-element_type=\"widget\" data-settings=\"{&quot;_position&quot;:&quot;fixed&quot;}\" data-widget_type=\"social-icons.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-social-icons-wrapper elementor-grid\">\n\t\t\t\t\t\t\t<span class=\"elementor-grid-item\">\n\t\t\t\t\t<a class=\"elementor-icon elementor-social-icon elementor-social-icon- elementor-animation-grow elementor-repeater-item-c1c9a90\" href=\"https:\/\/yasarlaw.com\/publications\/significant-amendments-to-the-communique-on-principles-regarding-venture-capital-investment-funds\/\">\n\t\t\t\t\t\t<span class=\"elementor-screen-only\"><\/span>\n\t\t\t\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:xlink=\"http:\/\/www.w3.org\/1999\/xlink\" id=\"Layer_1\" x=\"0px\" y=\"0px\" viewBox=\"0 0 1000 1000\" style=\"enable-background:new 0 0 1000 1000;\" xml:space=\"preserve\"><style type=\"text\/css\">\t.st0{fill:#FFFFFF;}<\/style><g id=\"Layer_3\"><\/g><g id=\"Layer_1_00000020364029370813827900000003168452955817500576_\">\t<rect width=\"1000\" height=\"1000\"><\/rect><\/g><g>\t<path class=\"st0\" d=\"M259.3,345.1H456v51.1H316.2v52.9h122.9v51.1H316.2v54.8h141.5V606H259.3V345.1z\"><\/path>\t<path class=\"st0\" d=\"M508.9,345.1h52.9l122.2,160.6V345.1h56.7v260.8H692L565.5,440.1v165.8h-56.7L508.9,345.1L508.9,345.1z\"><\/path><\/g><\/svg>\t\t\t\t\t<\/a>\n\t\t\t\t<\/span>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-26fa9928 elementor-section-stretched elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"26fa9928\" data-element_type=\"section\" data-settings=\"{&quot;stretch_section&quot;:&quot;section-stretched&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-wider\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-c5b4038\" data-id=\"c5b4038\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-3f767c48 elementor-section-full_width elementor-section-height-default elementor-section-height-default\" data-id=\"3f767c48\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-368fb3c6\" data-id=\"368fb3c6\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-147a07b8 elementor-widget elementor-widget-text-editor\" data-id=\"147a07b8\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"color: #781619;\"><b>Ya\u015far Law Office<\/b><\/span><\/p><p><span style=\"color: #781619;\">Bize Ula\u015f\u0131n:<\/span><\/p><p><span style=\"color: #781619;\">Karanfil Sokak, No: 13\u00a0<\/span><\/p><p><span style=\"color: #781619; font-style: inherit; font-weight: inherit; letter-spacing: 0.01em;\">Levent, Be\u015fikta\u015f, \u0130stanbul<\/span><\/p><p><span style=\"color: #781619;\"><a style=\"color: #781619;\" title=\"+90 212 401 4240\" href=\"tel:+902124014240\">+90 212 401 4240<\/a><\/span><\/p><p><span style=\"color: #781619;\"><a style=\"color: #781619;\" title=\"info@yasarlaw.com\" href=\"mailto:info@yasarlaw.com\">info@yasarlaw.com<\/a><\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-0b6b159 elementor-widget elementor-widget-text-editor\" data-id=\"0b6b159\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"color: rgb(120, 22, 25); font-style: inherit; font-weight: inherit; letter-spacing: 0.01em;\">Bize Ula\u015f\u0131n:<\/span><br><\/p>\n<p><span style=\"color: #781619;\">859. Sokak, No: 4\/303<\/span><\/p>\n<p><font color=\"#781619\">Cumhuriyet Bulvar\u0131, Konak, \u0130zmir<\/font><\/p>\n<p><span style=\"color: #781619;\"><a style=\"color: #781619;\" title=\"+90 212 401 4240\" href=\"tel:+902124014240\">+90 212 401 4240<\/a><\/span><\/p>\n<p><span style=\"color: #781619;\"><a style=\"color: #781619;\" title=\"info@yasarlaw.com\" href=\"mailto:info@yasarlaw.com\">info@yasarlaw.com<\/a><\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-4290edba\" data-id=\"4290edba\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-5b2d60b0 elementor-widget elementor-widget-google_maps\" data-id=\"5b2d60b0\" data-element_type=\"widget\" data-widget_type=\"google_maps.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-custom-embed\">\n\t\t\t<iframe loading=\"lazy\"\n\t\t\t\t\tsrc=\"https:\/\/maps.google.com\/maps?q=Karanfil%20Soka%C4%9F%C4%B1%20No%3A13%2C%20Levent%2C%2034330%20Be%C5%9Fikta%C5%9F%2F%C4%B0stanbul&#038;t=m&#038;z=15&#038;output=embed&#038;iwloc=near\"\n\t\t\t\t\ttitle=\"Karanfil Soka\u011f\u0131 No:13, Levent, 34330 Be\u015fikta\u015f\/\u0130stanbul\"\n\t\t\t\t\taria-label=\"Karanfil Soka\u011f\u0131 No:13, Levent, 34330 Be\u015fikta\u015f\/\u0130stanbul\"\n\t\t\t><\/iframe>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Giri\u015fim Sermayesi Yat\u0131r\u0131m Fonlar\u0131na \u0130li\u015fkin Esaslar Tebli\u011finde \u00d6nemli De\u011fi\u015fiklikler Giri\u015fim Sermayesi Yat\u0131r\u0131m Fonlar\u0131na \u0130li\u015fkin Esaslar Tebli\u011fi (III-52.4)\u2019nde (\u201cTebli\u011f\u201d) De\u011fi\u015fiklik Yap\u0131lmas\u0131na Dair Tebli\u011f (III-52.4.c) (\u201cDe\u011fi\u015fiklik Tebli\u011fi\u201d), 21.09.2024 tarihli Resm\u00ee Gazete\u2019de yay\u0131mlanarak y\u00fcr\u00fcrl\u00fc\u011fe girdi. De\u011fi\u015fiklik Tebli\u011fi, giri\u015fim sermayesi yat\u0131r\u0131m fonlar\u0131na (\u201cGSYF\u201d) ili\u015fkin \u00f6nemli d\u00fczenlemeler i\u00e7ermektedir. De\u011fi\u015fiklik Tebli\u011fi ile yat\u0131r\u0131mc\u0131 bilgi formu kald\u0131r\u0131lm\u0131\u015f ve fon ihra\u00e7 s\u00f6zle\u015fmesi getirilmi\u015ftir. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":1032,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"zakra_page_container_layout":"customizer","zakra_page_sidebar_layout":"customizer","zakra_remove_content_margin":false,"zakra_sidebar":"customizer","zakra_transparent_header":"customizer","zakra_logo":0,"zakra_main_header_style":"default","zakra_menu_item_color":null,"zakra_menu_item_hover_color":null,"zakra_menu_item_active_color":null,"zakra_menu_active_style":"","zakra_page_header":true,"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"class_list":["post-2885","page","type-page","status-publish","hentry"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/yasarlaw.com\/tr\/wp-json\/wp\/v2\/pages\/2885","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/yasarlaw.com\/tr\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/yasarlaw.com\/tr\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/yasarlaw.com\/tr\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/yasarlaw.com\/tr\/wp-json\/wp\/v2\/comments?post=2885"}],"version-history":[{"count":7,"href":"https:\/\/yasarlaw.com\/tr\/wp-json\/wp\/v2\/pages\/2885\/revisions"}],"predecessor-version":[{"id":2892,"href":"https:\/\/yasarlaw.com\/tr\/wp-json\/wp\/v2\/pages\/2885\/revisions\/2892"}],"up":[{"embeddable":true,"href":"https:\/\/yasarlaw.com\/tr\/wp-json\/wp\/v2\/pages\/1032"}],"wp:attachment":[{"href":"https:\/\/yasarlaw.com\/tr\/wp-json\/wp\/v2\/media?parent=2885"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}