Decree 32: when a contract or a payment in Türkiye must be in lira, and what the bank will check
Decree No. 32 on the Protection of the Value of Turkish Currency and Communiqué 2008-32/34 restrict foreign-currency and FX-indexed obligations between Turkish residents — real-estate sales and leases, employment, service and work contracts, and since 2022 the payment of movable-goods sales — with listed exceptions. The same framework limits FX borrowing by residents without FX income and defines what banks must see before they execute an FX payment between residents or disburse an FX loan. We prepare the document pack for one contract or one payment: the residency status of each party, the exception relied on if any, the lira-conversion basis where required, and the papers your bank will ask for.
Price — one contract or one payment
State fees and the notarial tariff are paid by you directly to the state or to the notary. We are not a notary and receive no remuneration from any notary, bank or lawyer.
Last verified: 24.10.2026 · source: Decree 32 and Communiqué 2008-32/34 — mevzuat.gov.tr / resmigazete.gov.tr; TCMB Sermaye Hareketleri Genelgesi — tcmb.gov.tr; BDDK — bddk.org.trPilot price, valid until 31.12.2026, incl. KDV. Bank fees, state fees and the notarial tariff are separate and paid by you to them.
Where the lira rule bites — and where it does not
| Situation | Rule in the Communiqué | What the bank asks |
|---|---|---|
| Lease of a shop or flat between two Turkish residents | Must be in lira; FX or FX-indexed rent not allowed (narrow exceptions, e.g. certain free-zone and hotel leases) | Lira contract; if FX was agreed, the lira conversion basis |
| Lease where the tenant is a non-resident (a foreign company's branch or a foreigner without residence) | Non-residents are outside the restriction; status must be documented | Proof of non-residency: no ikamet, foreign registry extract |
| Sale of movable goods between residents | Price may be set in FX but, since 2022, must be paid in lira (vehicles excepted) | Lira payment order; invoice can show FX with the lira equivalent |
| Service contract with a foreign-owned Turkish Ltd | Foreign-controlled resident companies have exceptions for certain contracts; the text decides | Shareholder structure, registry extract, the article relied on |
| FX loan to a Turkish company from its bank or parent | Residents without FX income may borrow FX only under listed exceptions; FX-income companies are limited to their last three years' FX income | FX-income certification by SMMM, loan purpose, group structure |
| Employment contract with a foreign employee | Salary in FX allowed where the employee is a non-citizen; otherwise lira | Passport, work permit, contract |
The table is a reading aid, not advice. Whether an exception applies to your facts is a legal question; we quote the article and you or your lawyer decide.
How it works
Send the contract or the payment order
Draft or signed contract, invoices, and the bank's questions if any. Tell us who the parties are and where they are resident.
Status and exception mapping
We set out each party's residency status under Decree 32, map the transaction to the relevant article of the Communiqué and quote it, and flag where an exception would need a lawyer's confirmation. Within two business days.
Bank document pack
You receive the pack your bank will ask for: proof of status, FX-income certification where relevant, resolutions, the lira-conversion basis note, and the answers to the bank's standard questions in Turkish for your signature.
Branch and follow-up
One branch visit with a sworn interpreter if the bank needs a conversation; we log the submission and follow the payment or disbursement to completion.
Typical cases
- Foreign-owned Ltd leasing an office from a Turkish landlord who wants dollar rent; the exception for foreign-controlled companies is narrow and must be documented.
- Importer paying a Turkish distributor in euro for goods invoiced in euro; the price may be in FX, the payment must be in lira.
- Parent company loan in dollars to its Turkish subsidiary with no FX income; the bank will not disburse without the exception documented.
- Salary of a foreign engineer agreed in euro; allowed for non-citizens, and the bank wants the work permit on file.
- Property sale between a resident foreigner and a Turkish seller priced in dollars; the seller's bank asks for the lira basis before accepting the transfer.
What can go wrong
- Assuming a foreign shareholder makes the company non-resident. A Turkish-registered company is a resident. Exceptions depend on specific articles, not on ownership alone.
- Paying in FX because the invoice is in FX. Since 2022 the payment for movable goods between residents is in lira regardless of the invoice currency (vehicles excepted).
- Relying on an old exception. The Communiqué has been amended repeatedly since 2018; we check the consolidated text on mevzuat.gov.tr on the day.
- FX loan disbursed on the parent's say-so. The bank is the gatekeeper and will ask for the SMMM's FX-income certificate; without it the disbursement stalls.
- Treating our table as a legal opinion. It is not. For a contested or high-value case, retain a lawyer directly and give them our pack.
Questions
Can two foreigners living in Türkiye sign a lease in dollars?
If both hold residence permits they are residents under Decree 32, and the lira rule applies to leases between residents. The status of each party and the type of contract decide; we document the status and quote the article, and a lawyer answers the legal question for your specific facts.
Can our Turkish company keep its accounts and invoices in euro?
Invoices between residents may state an FX amount with the lira equivalent in many cases, but the payment obligation for goods must be settled in lira; bookkeeping currency is a separate matter under the Tax Procedure Law for your SMMM. We keep to the Decree 32 side.
What does the bank actually check?
Residency of the parties, the contract type, the FX-income position for loans, and that an FX payment between residents falls under an exception. Banks are liable for executing a prohibited transaction, so they refuse when in doubt. A complete pack is what turns doubt into a yes or a clear no.
Is this legal advice?
No. We prepare documents and quote the regulation with article numbers. Whether an exception applies to you is a legal question for a lawyer you retain directly; see legal information.
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