Starting A Precious Metals Brokerage Business in Turkey
Precious metals intermediary institutions (precious metals brokerage companies) refers to institutions holding foundation and operation licenses granted by the Ministry of Treasury and Finance for trading in markets where precious metals and precious stones are traded. Precious metals intermediary institutions are authorized to perform the following activities:
- Transactions of buying and selling precious metals, borrowing and lending precious metals, and transactions related to capital market instruments based on precious metals,
- Trading of processed or unprocessed precious gems (precious stones) within the Exchange,
- Export and import of processed and unprocessed precious metals, as well as processed or unprocessed precious gems, and goods made from them, within the framework of export and import regulations,
- Temporary import of precious metals and gems to be used in the production of goods, and their export as finished or semi-finished precious goods and gems after processing,
- Foreign exchange buying and selling limited to the activities within the Exchange,
- Domestic trading of precious metals and gems.
In order to start a precious metals intermediary business in Turkey, you must obtain a foundation and operation license from the Ministry of Treasury and Finance of the Republic of Türkiye. Minimum capital requirement is 8 million Turkish Liras. After obtaining license from the Ministry, an application must be filed to Borsa İstanbul (the Exchange) for trading in the markets under the roof of the Exchange.
We provide end-to-end service for preparing your application package including feasibility report, required application documents, policy and procedure documents and starting and following your application to the relevant official authorities (Ministry of Treasury and Finance, Ministry of Trade, Chamber of Commerce, Borsa İstanbul, notary stuff etc.).
For more information, please do not hesitate to contact us.
by Hamit Boyraz