Portfolio management company is a capital market institution founded in the form of a joint-stock company the main field of activity of which is to establish and manage funds. Management of portfolios of investment companies, and pension funds established according to the Individual Pension Saving and Investment System Law numbered 4632 dated 28/03/2001, and foreign collective investment schemes established abroad which are their equivalents is also assessed as part of the main field of activity of the Company.


With the permission of the board, they are established in the form of joint stock corporations. They also need to get a portfolio management license from the board.

In order for the foundation permit applications to be eligible for evaluation by the Board, it is obligatory that;

a) The Company be founded in the form of a joint-stock company subject to authorized capital system pursuant to provisions of Turkish Commercial Code numbered 6102 dated 13/01/2011,
b) All shares of the Company be registered shares,
c) Shares of the Company be issued for cash,
d) The initial capital of the Company be at least TL 2,000,000,
e) The articles of association of the Company be in conformity with the provisions of the Law and the Board regulations,
f) The founding partners and the partners of significant influence of its legal entity founding partners:

  1. Must not be bankrupt, or have declared composition with creditors, or a for a decision of postponement of bankruptcy must not have been taken about them,
  2. Must not be among the persons liable for the sanction in institutions which have had one of their permission for activity cancelled by the Board,
  3. Must not have a finalised sentence due to the crimes in the context of the Law,
  4. A liquidation decision must not have been taken about them or the institutions, where they were a partner according to the Decree Having the Force of Law dated 14/1/1982 numbered 35 on the Transactions of Bankers in Payment Difficulty , and its annexes,
  5. Must not, even if the durations indicated in article 53 of the Turkish Criminal Code dated 26/9/2004 and numbered 5237 have elapsed, have been sentenced to prison for five years or more due to a crime committed on purpose or sentenced for crimes committed against the security of the state, crimes committed against the constitutional order and the functioning of this order, the crimes of embezzlement, extortion, bribery, theft, fraud, forgery, abuse of confidence, fraudulent bankruptcy, rigging an auction, rigging in terms of discharging an obligation, hindrance or destruction of an information system, deletion or alteration of data, abuse of bank or credit cards, laundering proceeds of crime, smuggling, tax evasion or unjustified benefit,
  6. Must not have been sentenced due to crimes covered by the Law on Prevention of Financing of Terrorism dated 7/2/2013 and numbered 6415,
  7. Must have the required financial strength and the honesty and reputation that the job requires,
  8. Must not have any due and payable tax debts.

g) The ownership structure of the Company is transparent and clear.

Founders apply to the Board for a foundation permit by submitting:

a) Foundation application form and draft articles of association prepared in accordance with the standards determined by the Board,
b) Notary-certified declaration prepared in accordance with the formats given in annexes (1) and (2) of Communiqué On Portfolio Management Companies And Activities Of Such Companies (III-55.1) (,Communiqué)
c) Notary-certified copies of decisions taken by authorized organs of founding legal entities, related to participation in the Company as a partner;
d) Documents authenticating that the founders satisfy the foundation conditions set forth in sub-paragraph (e) of the first paragraph and third paragraph of article 5 of Communiqué,
e) Other information and documents that may be requested by the Board.