Opening a business in Turkey
Advantages and special features of doing business in Turkey
Equality of rights. A foreigner doing business in Turkey is equalized in rights with the country's citizens.
Simplicity of doing business. The bureaucratic apparatus in Turkey works as a well-oiled machine, so certificates, licenses and other documents are prepared and issued quickly.
Support from the government. Turkish authorities in every way support foreign investors and strive to actively involve them in a variety of industries, particularly in tourism, agriculture and power generation and distribution. Various government support programs for both large and small businesses are developed for investors every year.
Loyal laws. Today, Turkey for foreign investors is the most attractive country among the member states of the Organization for Economic Cooperation and Development. The reason for this is laws loyal to investors. The main document regulating this area is the Direct Foreign Investments Act. Among other things, it guarantees the following:
- the equality of Turkish and foreign companies;
- the freedom to choose a name of an organization;
- simplified verification procedures;
- the absence of restrictions on the transfer of funds;
- the absence of restrictions on the obtaining of the right to work in the country.
International cooperation. Today, quite a number of international agreements facilitate the work of foreign companies in Turkey. These agreements relate to free trade zones, investment (the country succeeded in reaching agreements with 80 countries), as well as tax incentives (68 countries agreed to bilateral concessions).
Special Economic Zones. To stimulate the economy in Turkey, they created a number of special zones.
Technological Development Zones (TDZ) are located throughout the country, and their number is constantly growing.
Organized Industrial Zones (OIZ) are designed for large industrial groups. Companies operating there receive significant tax exemptions and benefits when obtaining loans, and they can also expect reduced charges when paying for energy.
Free Zones (SZ) for export-oriented companies that are not within the customs area. Today, there are 19 of those in Turkey, they are located close to major ports, which ensures for companies operating in these zones access to international trade routes.
High profitability. Doing business in Turkey is not only convenient, but also profitable. This is confirmed by the fact that today about 15 thousand enterprises in Turkey are created with the help of foreign investments. Large companies such as Honda, Ford, Renault, Bosch, Toyota, and many others have opened their branches in this country.
Bypassing difficulties with imports. Turkish authorities strongly support local producers, actively protecting the domestic market from imports. Imported goods often become uncompetitive as they are subjected to a variety of taxes, which adversely affects the price. That is why many companies prefer to open branches in Turkey and export their products to other countries from here.
As you can see, Turkey is perfect not only for leisure but also for business. And the staff of Tolerance will always help you navigate the market, understand the laws, pick up premises and arrange all the necessary documentation.
Please visit our Consulting website to get more information to get assistance and advice.