Foreign Investment in Türkiye’s Energy and Mining Sectors: Licensing, Regulatory Approvals and Investor Protection

Türkiye occupies a strategically important position between Europe, Central Asia, the Middle East and the Eastern Mediterranean. Its growing electricity market, substantial renewable energy potential, mineral resources, developing natural gas infrastructure and proximity to major energy corridors continue to make the country relevant for international investors.

For a foreign investor, however, entering Türkiye’s energy or mining market is not merely a question of incorporating a company and providing capital.

Energy and natural-resource projects operate within some of the most heavily regulated areas of Turkish law. A successful investment may require interaction with the Energy Market Regulatory Authority (EMRA/EPDK), the Ministry of Energy and Natural Resources, the General Directorate of Mining and Petroleum Affairs (MAPEG), environmental authorities, land and forestry administrations, municipalities, the Turkish Competition Authority and other public bodies.

The fundamental legal question is therefore not simply:

“Can a foreign investor invest in Türkiye?”

In principle, the answer is yes.

The more important questions are:

What legal structure should be used? Which licence is required? Can the licence be acquired together with an existing company? Which governmental approvals are necessary? What happens if the regulatory framework changes after the investment has been made? And what international protections may be available against state interference?

These questions should be addressed before substantial capital is committed.

1. The Starting Point: Foreign Investors Generally Receive Equal Treatment

The principal legislation governing foreign direct investment is Law No. 4875 on Foreign Direct Investment.

Turkish foreign investment legislation is based on a comparatively liberal model. Unless otherwise provided by international agreements or special legislation, foreign investors are free to make direct investments in Türkiye and are generally subject to the same treatment as domestic investors.

Law No. 4875 deliberately replaced a broad prior-approval model with a largely notification-based foreign investment system. Türkiye’s official Investment Office also confirms that international investors may generally establish companies under the same conditions applicable to domestic investors.

This means that, as a general rule, a foreign investor can:

• establish a Turkish company;
• acquire shares in an existing Turkish company;
• establish a joint venture with Turkish partners;
• invest through a foreign parent company and Turkish subsidiary;
• acquire an existing operating business; or
• participate in qualifying projects and tenders.

Importantly, however, the principle of equal treatment does not eliminate sector-specific licensing requirements.

Energy and mining activities remain subject to special legislation.

This distinction is essential:

Foreign ownership may be unrestricted, while the underlying activity remains highly regulated.

2. Choosing the Investment Structure

The two company forms most commonly used for major foreign investments in Türkiye are the:

Joint Stock Company – Anonim Şirket (A.Ş.)

and

Limited Liability Company – Limited Şirket (Ltd. Şti.).

Türkiye’s official investment guidance confirms that foreign investors may establish the company forms permitted under the Turkish Commercial Code and that there is generally no nationality restriction on shareholders, subject to specific sectoral legislation.

For substantial energy and mining investments, an A.Ş. structure is frequently preferred, particularly where the project may involve:

• several investors;
• international lenders;
• project financing;
• future share transfers;
• institutional investment;
• different share classes;
• shareholder agreements;
• corporate governance arrangements; or
• an eventual sale of the project company.

A foreign investor may own 100% of the shares of a Turkish company unless a specific legislative restriction applies.

This can make a wholly foreign-owned Turkish special purpose vehicle (“SPV”) an effective investment structure.

3. Greenfield Investment or Acquisition?

Foreign investors generally enter the Turkish energy and mining sectors through one of two routes.

Greenfield Investment

The investor establishes a new project company and develops the project from the beginning.

This may involve:

• securing the project site;
• applying for a preliminary licence or licence;
• obtaining grid connection rights;
• completing environmental procedures;
• obtaining zoning and construction approvals;
• arranging financing;
• obtaining mining or petroleum rights; and
• constructing and commissioning the project.

Acquisition of an Existing Project

The alternative is to purchase an existing project company or an interest in one.

The target may already possess:

• an electricity generation licence;
• a preliminary licence;
• mining exploration rights;
• a mining operating licence;
• petroleum exploration rights;
• land rights;
• environmental approvals;
• grid connection agreements; or
• operational infrastructure.

Acquisition can substantially shorten the development period.

It also creates a different category of legal risk.

The investor is no longer analysing only whether a project can obtain the necessary permissions.

It must determine whether the target company’s existing permissions are legally valid and whether there are historical regulatory liabilities hidden inside the company.

4. Legal Due Diligence Is Critical Before Acquiring an Energy or Mining Company

A licence is not equivalent to an ordinary commercial asset.

Its validity may depend on continuous compliance with administrative requirements.

Accordingly, due diligence should extend beyond the target company’s financial statements.

In an energy or mining acquisition, investors should normally investigate:

• validity and remaining term of licences;
• licence amendments;
• licence fees;
• outstanding administrative penalties;
• project completion deadlines;
• minimum capital requirements;
• guarantees provided to regulatory authorities;
• environmental approvals;
• land rights;
• zoning status;
• expropriation proceedings;
• grid connection rights;
• production obligations;
• mining rehabilitation obligations;
• royalties and State rights;
• pending litigation;
• regulatory investigations;
• share-transfer restrictions; and
• change-of-control approval requirements.

A company may appear commercially attractive while its principal regulatory asset is vulnerable to cancellation.

For an investor, that difference can determine whether an acquisition is worth millions—or effectively nothing.

5. Investing in Türkiye’s Electricity Market

Electricity activities are primarily governed by Electricity Market Law No. 6446 and secondary legislation administered by the Energy Market Regulatory Authority (EPDK/EMRA).

The Turkish electricity market contains several regulated activities, including generation, supply, distribution, aggregation and other market functions.

For electricity generation projects, the usual licensed-investment process involves two principal regulatory stages:

Preliminary licence (önlisans)

followed by

Generation licence (üretim lisansı).

EPDK explains that a company intending to engage in licensed electricity generation must first obtain a preliminary licence and, after completing the necessary obligations during that period, obtain a generation licence. The preliminary licence allows the project company to secure the approvals, permits and similar rights necessary before the generation facility is developed.

6. Corporate Requirements for Electricity Licence Applicants

Private-law entities applying for electricity preliminary licences must generally be incorporated as either:

• a Turkish joint stock company; or
• a Turkish limited liability company.

Where the applicant is a joint stock company, shares other than those traded on a stock exchange must generally be registered shares.

EPDK also requires specific provisions to appear in the articles of association, including restrictions concerning changes in the company’s shareholding structure during the preliminary-licence period, subject to statutory exceptions.

This has significant implications for international transactions.

An investor considering acquiring a renewable-energy project that is still at the preliminary-licence stage cannot assume that an ordinary share purchase may be completed without regulatory analysis.

The regulatory status of the project must be examined before the share purchase agreement is signed.

7. Capital and Guarantee Requirements

The electricity licensing process also contains financial qualification requirements.

EPDK’s current licensing guidance requires preliminary-licence applicants to submit an appropriate bank guarantee. It also connects the applicant company’s minimum capital with the projected investment value of the generation facility.

For ordinary generation projects, the required minimum company capital is generally linked to 5% of the estimated total investment amount determined by EPDK, while special rules apply to nuclear-generation applications. Bank guarantee requirements are likewise calculated according to regulatory criteria and project capacity.

Therefore, energy investments should not be structured solely according to the minimum capital requirements of the Turkish Commercial Code.

The regulatory capital requirements applicable to the relevant project must also be considered.

8. Renewable Energy: Solar and Wind Investments

Solar and wind projects remain central to Türkiye’s energy investment environment.

Investors may encounter several different regulatory models, including:

• licensed generation;
• unlicensed generation where statutory conditions are satisfied;
• Renewable Energy Resource Area projects, known as YEKA projects;
• storage-integrated renewable generation;
• self-consumption models; and
• acquisition of operating renewable assets.

Land and grid capacity are often as important as generation technology.

A technically excellent solar project may have limited economic value if:

• grid capacity is unavailable;
• land rights are defective;
• zoning permission cannot be obtained;
• environmental restrictions apply; or
• the preliminary licence timetable cannot be satisfied.

For this reason, a renewable project should be evaluated as a package of regulatory rights, not merely as a power plant.

9. A Significant 2025–2026 Development: Streamlining Energy Permits

Law No. 7554, enacted on 19 July 2025 and published on 24 July 2025, introduced important amendments affecting both energy and mining investments.

For wind and solar projects, the legislation created mechanisms intended to simplify certain land, zoning and permitting processes.

Among other measures, the law provides that permits relating to wind and solar projects on forest land should generally be concluded within a maximum period of 60 days under the relevant mechanism. It also authorises the Ministry of Energy and Natural Resources, in specified circumstances, to approve zoning and subdivision plans and to issue construction, occupancy and workplace permits for qualifying wind and solar generation facilities.

The implementation framework has since progressed further. The Ministry of Energy and Natural Resources lists the Regulation on Zoning and Licensing Procedures for Wind and Solar Electricity Generation Facilities among its legislation and announced the regulation on 24 July 2026.

For international developers, this is particularly important because permitting delays have historically represented a major development risk in infrastructure projects.

10. Environmental Impact Assessment Remains Fundamental

Energy and mining investors must distinguish between:

the ability to begin administrative permit procedures

and

the right to commence the underlying project.

Law No. 7554 amended the Environmental Law so that the absence of the relevant environmental decision does not necessarily prevent an investor from initiating certain incentive, approval, permit or licence procedures.

This should not be misunderstood as abolishing environmental regulation.

Where an Environmental Impact Assessment (“EIA” / “ÇED”) decision is legally required, the substantive environmental process remains central to the project’s development.

For mining projects, the 2025 reform also introduced specific coordination mechanisms. Relevant authorities are required to respond within defined periods during the EIA and permitting process, and certain failures to respond within the statutory period may result in a deemed-positive position under the new framework.

For foreign investors, environmental due diligence should therefore begin before acquisition or financial close, not after licensing.

11. Mining Investments: A Different Regulatory Model

Mining activity is principally governed by Mining Law No. 3213.

Unlike ordinary commercial activity, mineral resources are not treated as assets that automatically belong to the owner of the surface land.

Mining rights are granted through a statutory licensing regime.

MAPEG is the principal authority responsible for mining and petroleum rights, including exploration and operating licences and related registry procedures.

The institutional distinction is important:

owning the land does not necessarily mean owning the mineral right.

Similarly:

owning a mining company does not necessarily guarantee continued validity of its mining licence.

12. Can a Foreign Company Obtain a Turkish Mining Licence?

Turkish mining law imposes an important structural requirement.

Mining rights may be granted to Turkish citizens and to companies possessing legal personality that are established under the laws of the Republic of Türkiye and whose corporate status permits mining activities.

This does not prevent foreign investment.

Instead, it normally means that a foreign investor wishing to hold Turkish mining rights directly should establish or acquire an eligible Turkish company.

Because foreign investors can generally own 100% of a Turkish company, a common structure is:

Foreign Parent Company → Turkish Mining SPV → Mining Licence

This structural question should be determined before the mining-right application or acquisition transaction.

13. Mining Licence Categories and Project Development

Mining rights are granted according to statutory mineral classifications and licensing procedures.

Depending on the mineral group and status of the area, rights may be allocated through application procedures or tender mechanisms.

The 2025 amendments significantly affected this framework.

MAPEG confirmed that Law No. 7554 amended Articles 7, 16 and 30 of the Mining Law concerning licensing processes. Under the revised framework, certain mining rights continue to be granted by tender, while II(b) and Group IV areas may also be tendered where MAPEG determines this necessary based on factors such as location, reserves and historical information.

Foreign investors should therefore analyse not only the mineral itself but also how the relevant mining area can legally be obtained.

14. Exploration Is Not the Same as Production

Obtaining an exploration licence does not automatically mean that commercial extraction may begin.

The mining process may involve:

• preliminary application;
• exploration licence;
• exploration programme;
• geological studies;
• reserve identification;
• technical reporting;
• operating-project submission;
• operating licence;
• environmental procedures; and
• operating permission.

The 2025 reform strengthened certain exploration obligations.

MAPEG has stated that, under the revised regime, obtaining an operating licence following exploration requires the reserve to be identified in three dimensions and by quantity, together with investment-security requirements connected with the exploration programme.

Accordingly, speculative licence holding without sufficient exploration activity may carry significant regulatory risk.

15. Environmental and Land Permissions in Mining

A mining licence is only one part of the permission structure.

Depending on the site and project, additional approvals may involve:

• EIA procedures;
• forestry permissions;
• private-property rights;
• workplace opening and operating licences;
• protected-area approvals;
• agricultural-land permissions;
• cultural-heritage restrictions;
• zoning issues;
• infrastructure permissions; and
• water-related approvals.

MAPEG’s guidance confirms that mining production generally requires the relevant environmental decision, workplace licence and rights concerning the land on which the operation will take place before an operating permit may be issued.

This is why a mining investment should never be valued solely on the basis of the words “operating licence” appearing in a data room.

16. The 2025 Mining Reform and Coordinated Permitting

Law No. 7554 created a more coordinated permitting framework for mining projects.

For certain protected or specially regulated areas, MAPEG requests the necessary institutional permissions before the mining licence is issued. Relevant authorities are generally required to respond within three months, with a possible additional one-month period; in specified circumstances, failure to respond can result in the permission being deemed granted.

The legislation also established a high-level mechanism for certain disputes involving Group IV and strategic or critical minerals.

Where the relevant authority refuses permission, the issue may, under statutory conditions, be referred to a board composed of senior government officials, with the final assessment based on the concept of overriding public interest.

For investors in critical minerals, this constitutes an important development in Türkiye’s natural-resource policy.

17. Rehabilitation Has Become a Major Compliance Issue

Mining investors must increasingly treat closure and rehabilitation obligations as part of the project’s financial model from the beginning.

Following the 2025 reforms, a separate rehabilitation payment mechanism was introduced into the Mining Law.

MAPEG announced that from 1 January 2026 operating-licence holders became subject to the new rehabilitation payment framework. MAPEG further warned in June 2026 that failure to pay required licence and rehabilitation amounts by the statutory deadline can result in cancellation of the licence.

Accordingly, environmental closure obligations are no longer merely a future operational issue.

They constitute a licence-preservation issue.

18. Geological Data and Continuing Compliance

Mining regulation continues after the licence is obtained.

For example, MAPEG announced in April 2026 that geological data and documentation obtained from mining exploration and research activities must be transferred through the relevant geological data system within the applicable framework, with a deadline of 31 December 2026 for specified existing data obligations.

For an acquirer, such obligations should form part of regulatory due diligence.

A licence may be valid on the acquisition date but exposed to sanctions because the previous owner failed to satisfy reporting requirements.

19. Petroleum and Oil & Gas Investment

Türkiye’s upstream petroleum sector operates under Turkish Petroleum Law No. 6491.

Petroleum resources in Türkiye are under the sovereignty and disposition of the State, and petroleum operations require the appropriate statutory right.

Research permits, exploration licences and production licences are administered through MAPEG.

An important distinction exists between mining and petroleum investment.

The Turkish Petroleum Law permits qualifying capital companies as well as private-law legal entities possessing the character of capital companies under foreign law to receive petroleum research, exploration and production rights, subject to the statutory regime.

Where the successful applicant is a foreign company, the implementing regulation contains Turkish registration requirements following the acquisition of the petroleum right.

Thus, upstream oil and gas investment should be structured separately from an ordinary Mining Law transaction.

20. Acquiring an Existing Licence: Regulatory Approval Comes Before Closing Strategy

Foreign investors frequently prefer acquiring an operating project rather than developing one from zero.

This may involve purchasing:

• the shares of the licence-owning company;
• project assets;
• specific project rights; or
• a controlling interest in a joint venture.

In regulated sectors, however, corporate law and regulatory law overlap.

A share transfer that is perfectly valid under the Turkish Commercial Code may still require:

• EPDK approval;
• MAPEG approval;
• licence amendment;
• notification;
• corporate restructuring; or
• another regulatory consent.

For this reason, energy and mining M&A agreements commonly include conditions precedent dealing with regulatory approval.

Closing should not occur merely because the buyer has paid the purchase price.

It should occur when the buyer can legally control the regulatory asset it intended to purchase.

21. Turkish Competition Authority Approval

Large acquisitions and joint ventures may also require merger-control clearance.

Under Turkish competition law, transactions resulting in a lasting change of control may require prior authorisation from the Turkish Competition Board where the applicable turnover thresholds are exceeded.

The Competition Authority’s 2025 M&A report confirms that transactions satisfying the statutory thresholds require Competition Board approval before becoming legally valid. The report also notes that cross-border transactions implemented outside Türkiye may still require Turkish merger-control notification where the Turkish turnover thresholds are satisfied.

This is especially relevant in energy transactions because electricity generation, distribution and related infrastructure continue to generate significant M&A activity.

A foreign investor purchasing a Turkish energy group should therefore examine both sectoral regulatory approval and merger-control approval.

They are separate legal issues.

22. Real Estate and Land Ownership

Foreign investment structures should also consider how project land will be held.

A Turkish company containing foreign capital is a Turkish legal entity, but certain additional rules may apply where foreign shareholders hold 50% or more of the shares or possess rights enabling them to appoint or remove the majority of the company’s management.

Türkiye’s official investment guidance identifies specific procedures concerning acquisition of real estate by such foreign-capital Turkish companies, including issues relating to military and special security zones.

For energy and mining projects, land analysis should therefore cover:

• title ownership;
• leases;
• easements;
• treasury land;
• forest land;
• agricultural land;
• expropriation;
• zoning;
• access roads;
• transmission lines; and
• security-zone restrictions.

The project site should be treated as a regulatory asset in its own right.

23. How Is a Foreign Investor Protected Against Expropriation?

Foreign investment protection in Türkiye operates at several levels.

First, Article 3 of Law No. 4875 provides that foreign direct investments may not be expropriated or nationalised except for public interest and upon compensation in accordance with due process.

Second, foreign investors may benefit from the Turkish Constitution and domestic administrative-law protections.

Third—and particularly important for international investors—protection may arise under an applicable Bilateral Investment Treaty (“BIT”).

24. Bilateral Investment Treaties Can Be as Important as the Licence

Türkiye has developed an extensive network of bilateral investment treaties.

Türkiye’s official Investment Office currently lists 86 BITs in force and explains that these treaties are intended to establish standards of treatment and mechanisms for resolving disputes between foreign investors and host states.

Depending on the treaty, investor protections may include:

• fair and equitable treatment;
• protection against unlawful expropriation;
• national treatment;
• most-favoured-nation treatment;
• protection and security;
• free transfer of investment returns; and
• investor-State arbitration.

The Ministry of Trade similarly describes Turkish investment-protection treaties as instruments designed to protect investors against risks including expropriation, restrictions on transfers and other governmental interference, while commonly providing mechanisms for international arbitration.

25. Investment Structuring Should Consider Treaty Protection Before the Investment Is Made

The identity and nationality of the investing entity may determine which investment treaty protects the project.

Imagine an international mining group with companies incorporated in several jurisdictions.

It may theoretically be possible to invest through:

Parent Company → Treaty-Protected Holding Company → Turkish Project Company

However, treaty structuring must be legitimate and should be carried out before a dispute becomes foreseeable.

Attempting to restructure an investment after a dispute with the State has already arisen may create serious jurisdictional objections in subsequent arbitration.

Treaty analysis should therefore form part of transaction structuring—not merely dispute strategy.

26. Free Transfer of Profits and Investment Proceeds

Law No. 4875 also protects the ability of foreign investors to transfer certain investment-related funds abroad.

The legislation expressly addresses transfers including:

• net profits;
• dividends;
• proceeds from sale or liquidation;
• compensation payments;
• amounts arising from licence and management agreements; and
• certain foreign-loan repayments and interest.

Such transfers may generally be made abroad through banks or financial institutions in accordance with the applicable regulatory framework.

For project-financed energy investments, this protection is commercially significant.

An investment is not economically useful simply because profits can be generated.

Investors must also be able to repatriate those profits.

27. International Arbitration and ICSID

Türkiye is a Contracting State to the Convention on the Settlement of Investment Disputes between States and Nationals of Other States (“ICSID Convention”).

The Convention entered into force for Türkiye on 2 April 1989.

ICSID provides an institutional system for resolving qualifying investment disputes between states and foreign investors where the necessary jurisdictional consent exists.

Importantly, ICSID membership itself does not mean that every foreign investor can automatically sue Türkiye before ICSID.

Jurisdiction generally requires an independent basis of consent, such as:

• a bilateral investment treaty;
• another international treaty;
• an investment contract; or
• another valid arbitration agreement.

Where those requirements are satisfied, ICSID arbitration can provide an important mechanism for investor-State dispute resolution.

28. The Energy Charter Treaty

Energy investors should also consider the Energy Charter Treaty (“ECT”).

Türkiye signed the ECT in 1994, ratified it in 2001, and the Treaty entered into force for Türkiye on 4 July 2001. The Energy Charter Secretariat continues to list Türkiye among the Contracting Parties.

The ECT’s definition of investment includes a wide range of assets and expressly includes rights conferred by law, contract, licences and permits relating to economic activities in the energy sector.

For qualifying investors from relevant treaty jurisdictions, the ECT may therefore become important where state measures affect:

• power plants;
• electricity licences;
• concessions;
• energy infrastructure;
• contractual rights; or
• other protected energy investments.

Nevertheless, ECT jurisdiction has become increasingly complex because several European states have withdrawn or announced withdrawal from the Treaty. Each investment must therefore be analysed according to the investor’s nationality, investment date, treaty status and the ECT’s applicable provisions.

29. Domestic Courts Remain Important

International arbitration does not replace Turkish judicial review.

Many regulatory disputes arising from decisions of:

• EPDK;
• MAPEG;
• ministries;
• municipalities; or
• other administrative authorities

may be subject to proceedings before Turkish administrative courts.

Potential disputes may concern:

• cancellation of licences;
• administrative fines;
• permit refusals;
• licence amendments;
• regulatory obligations;
• tender procedures;
• environmental decisions; or
• other administrative acts.

Accordingly, foreign investors should understand the distinction between:

challenging an administrative decision under Turkish law

and

bringing an international investment claim against the State.

The two mechanisms serve different purposes and may involve different jurisdictional requirements.

30. The Investor’s Legal Checklist

Before investing in a Turkish energy or mining project, an international investor should be able to answer at least the following questions:

Corporate Structure

Who will own the Turkish project company?

Treaty Structure

Does the investor’s jurisdiction have an effective investment treaty with Türkiye?

Licence

What licence or permit is required?

Transferability

Can the relevant licence, project or company legally be transferred?

Change of Control

Does the acquisition require regulatory consent?

Land

Does the project possess secure and sufficient land rights?

Environmental Compliance

Has the required EIA process been properly completed?

Construction and Zoning

Are zoning, building and operating permits valid?

Grid Connection

For electricity projects, is the connection right valid and sufficient?

Mining Reserves

For mining acquisitions, are the geological and reserve reports reliable?

Rehabilitation

Have financial obligations for rehabilitation been correctly accounted for?

Competition Approval

Does the transaction require Turkish Competition Board clearance?

Financing

Can lenders obtain effective security over project assets and shares?

Litigation

Are any licences or permits subject to court proceedings?

Enforcement

If a dispute occurs, where and how can the investor enforce its rights?

31. The Most Important Principle: Do Not Invest in the Company—Invest in the Legal Rights

A foreign investor acquiring an energy or mining business may appear to be purchasing shares.

Economically, however, the investor is usually purchasing something more important:

a collection of regulatory rights.

Those rights may consist of:

• a generation licence;
• a mining licence;
• a petroleum right;
• grid capacity;
• land-use rights;
• environmental approvals;
• zoning decisions;
• construction permits; and
• contractual rights.

The share certificate has value because those rights exist.

If they disappear, the economic value of the company may disappear with them.

This is why regulatory due diligence is often more important than conventional corporate due diligence in energy and natural-resources transactions.

Conclusion: Türkiye Offers Opportunity, but Regulation Determines Value

Türkiye remains a significant market for international investors seeking exposure to electricity generation, renewable energy, mining, critical minerals and petroleum.

Its foreign-investment regime is generally open and based on equal treatment. Foreign investors may establish wholly owned Turkish companies and acquire existing businesses, while investment legislation provides protections concerning expropriation, profit transfers and dispute resolution.

At the same time, energy and mining investments cannot be treated like ordinary corporate transactions.

They require careful coordination between:

foreign investment law, corporate law, energy regulation, mining and petroleum law, environmental law, land law, competition law, administrative law and international investment law.

The reforms introduced through Law No. 7554 in 2025—and their implementation during 2026—have also materially changed aspects of mining licensing, environmental coordination and renewable-energy permitting. Investors considering projects based on older regulatory assumptions should therefore reassess their structures against the current framework.

Ultimately, a successful foreign investment strategy in Türkiye should answer four questions before capital is committed:

Can the investor enter the market?

Can the project obtain and preserve the necessary licences?

Can the investment operate and generate revenue under Turkish regulatory law?

And if the regulatory relationship breaks down, what domestic and international mechanisms protect the investor?

In Türkiye’s energy and mining sectors, the quality of the natural resource matters.

But the quality of the legal structure surrounding that resource may determine the value of the entire investment.

This article is intended for general informational purposes only and does not constitute legal advice. Energy, mining, petroleum and foreign-investment projects in Türkiye should be reviewed individually according to the nature of the project, investor nationality, corporate structure, relevant licence, project location, environmental status, transaction structure and applicable international treaties.