Short-term residence permits are issued for a maximum of two years as a principle. Foreigners who invest in Türkiye in amounts and scopes attested by the Council of Ministers may, together with their spouse and children, be granted a five-year short-term permit, and may then apply for Turkish citizenship or a long-term residence permit. Extension applications may be filed up to sixty days before expiry — but never after the expiry date. Long-term permits, available after eight years of continuous residence, are issued indefinitely and require no extension.

Due diligence must be carried out by a competent and experienced team; otherwise unreal asset and liability amounts of the merged or acquired company will be invested against. A proper review covers: • Corporate records, share structure and capital history. • Material contracts with customers, suppliers and financiers. • Real estate and fixed assets, with title and encumbrance checks. • Employment matters and severance exposure. • Pending litigation, enforcement proceedings and administrative fines. • Tax position, incentives used and outstanding assessments. • Licences, permits and sector compliance. • Intellectual property and IT. Carrying out these investigations carefully prevents later disputes between the parties from the very beginning.

Following the adoption of the Convention on International Interests in Mobile Equipment and the Protocol to the Convention on Matters Specific to Aircraft Equipment — together the Cape Town Convention — by 2013, Türkiye became a country that is very fit for aircraft finance in all aspects. Costs have generally fallen, securities are available and the economic atmosphere has been stable, which has increased the volume of aircraft financing. Aircraft leasing, with the option to buy at the end of the term, is one of the main means of financing used in the market.

Very rapid political, economic and technological developments mean that crises spread quickly across large geographies through intertwined commercial relations, and organisations with unhealthy financial structures are eliminated from the market in a very short time. It is therefore vital for companies to strengthen their financial and managerial structures before those conditions arrive. If a company does not install such a system, its success will be random rather than managed.