Strict oversight on share transfers in OIZs: Land allocation may be canceled

Turkey’s Ministry of Industry and Technology will require prior approval for ownership changes exceeding 49% in companies holding land or preliminary allocation rights in organized industrial zones (OIZs), with unauthorized transfers risking cancellation of the allocation under a new regulation. The rule also revises parcel tender and permitting procedures for OIZ land. The change tightens oversight of share transfers in industrial zones, where allocation rights are tied to specific investors and projects. It matters because investors seeking to exit or bring in partners in OIZ-based companies will need ministry sign-off before crossing the 49% threshold. Watch for implementing guidance and how the ministry applies the approval process to pending deals and tender participants.