Cash Repatriation from Turkey

Report date: 
17 Jul 2020

With the recent depreciation of TRY, accessing hard currency in Turkey is getting much more difficult.  Regulations can change arbitrarily and are often unclear. Participants reported conflicting opinions from different banks and the same banks give different opinions to different people.  It pays to get multiple opinions before making a decision.  Participants rely on their local teams.  In this discussion the topics covered included:

  • Accessing hard currency
  • Cross border pooling
  • Offshore accounts
  • Dividends
  • Cross border invoices
  • Cashless Netting
  • Servicing Turkey via offshore payment factory
  • Funding

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