Turkish exporters and export proceeds: repatriation, conversion rules and records

A Turkish exporter selling to Germany or the US is paid in euros or dollars. Turkish rules require those proceeds to be brought into Türkiye within a set period, and since 2022 part of them has had to be sold for lira. The share has changed more than once.

William Sunjo M.Operations and compliance editor

Published: 12 October 2026
Reading time: 2 min read

An İzmir textile exporter ships to a buyer in Düsseldorf and receives €84,000 forty days later. Its Turkish bank credits the euros, issues an export proceeds certificate, and, under the rule in force, sells a share to the central bank for lira. The exporter's finance manager checks each quarter which share applies, because it has changed more than once.

Repatriation

Turkish foreign exchange rules, based on the Decision on the Protection of the Value of Turkish Currency (Decision No. 32) and related communiqués, require exporters to bring export proceeds into Türkiye. The general period is 180 days from the date of export, with specific rules for some cases. When the proceeds arrive, the bank issues an export proceeds certificate (İhracat Bedeli Kabul Belgesi, İBKB).

Missing the deadline can lead to penalties, so exporters track open receivables against it.

The conversion requirement

In 2022, to support the lira and central bank reserves, Türkiye required exporters to sell a share of foreign currency proceeds to the central bank through their banks. The share started at 25 percent, rose to 40 percent, was later set at 35 percent for a period, and has been revised since. Ask your bank which share applies to proceeds you receive today.

What this means for exporters

Euro or dollar proceeds must be received through Turkish banks within the period.
Part may be converted to lira under the current rule.
The remainder can be held in foreign currency accounts in Türkiye.

Records

Keep the export declaration, invoice and İBKB together for each shipment. Auditors and banks check them against each other.

Paying into Türkiye: the local rail

What	Detail
Local rail	FAST (Fonların Anlık ve Sürekli Transferi)
Run by	Central Bank of the Republic of Türkiye
Settlement	Seconds, 24/7

Source: CBRT: FAST. Checked when this guide was last updated; the scheme's own page has the current figures.

Where Rivet fits

Rivet opens business accounts for registered companies after verification. A company registered in Türkiye must bring export proceeds into Türkiye under the rules above, so it should not hold them abroad beyond the permitted period; check with your bank first. Turkish founders running companies registered elsewhere can use a Rivet business account with US account details on every plan and euro and sterling details from the Growth plan. Rivet is not a bank; regulated partner institutions hold the funds.

Questions people ask

How long do Turkish exporters have to bring in proceeds?

Generally 180 days from the date of export, under the Decision on the Protection of the Value of Turkish Currency and related communiqués. Some cases have different periods.

Do exporters still have to sell part of their proceeds?

The requirement introduced in 2022 has been adjusted several times. Ask your bank for the share that applies today.

Can a Turkish exporter keep proceeds abroad?

Not beyond the repatriation period without a specific exception. Proceeds are expected to be brought into Türkiye and processed by a Turkish bank.

What documents are needed?

The export declaration, commercial invoice and the bank's export proceeds certificate when the funds arrive.

Sources

Written by

William Sunjo M.

Operations and compliance editor

William covers what happens once a company starts moving money: getting the business verified, paying contractors and suppliers abroad, and keeping card spend under control. William writes for the founder or finance lead who has to make it work this week, and links every rule cited to the text it comes from.