Turkey's FDI Law is founded on the idea of equal treatment, granting international investors the same rights and duties as domestic investors.
The conditions for establishing a firm and transferring shares are the same as those for local investors. International investors may form any of the companies listed in the Turkish Commercial Code (TCC), which provides a corporate governance approach that meets international standards, encourages private equity and public offering activities creates transparency in operations management and aligns the Turkish business environment with EU legislation as well as the EU accession process.
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Turkey has implemented measures aimed at improving the business environment by removing red tape in the establishment of a company and reducing expenses and procedures. To that end, forming a company is now only done at Trade Registry Offices, which are located in Chambers of Commerce and are designed to be a "one-stop-shop." The procedure is completed on the same day.
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Why Invest Here?
1. Robust Economy - From 2003 to 2019, the Turkish economy had historic growth, rising from 18th to 13th in the world. Turkey has surpassed its peer economies in terms of growth, and this trend is expected to continue in the future years. Following cautious fiscal discipline, Turkey dramatically reduced its public debt stock from more than 70% in 2002 to roughly 34% in 2019. Over the last 18 years, the good impact of fiscal restraint has been reflected in a considerably reduced deficit in Turkey's budget balance. Over the last 18 years, Turkey's economic growth has been driven by a healthy domestic market and an entrepreneurial private sector, both of which have boosted investments and exports.
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2. Strategic Location - Turkey is a transcontinental country bordering the Black Sea in south-eastern Europe and southwestern Asia. Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Iran, Iraq, and Syria are all neighbors. Turkey has a vital location because it controls the Turkish Straits, which connect the Black and Aegean Seas. Turkey's terrain is comprised of narrow coastal plains in the west that become progressively rocky as one moves eastward. The government system is a parliamentary democratic republic; the president is the chief of state, and the prime minister is the head of government.
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3. Skilled Labour-force – Talented workforce forms the main backbone of Turkey. The extremely talented and hard-working workforce makes the task very easy and, in less time, as a result, there is great scope of establishment of the country in the coming time. As the rapid development taking place here, there arises an immense opportunity for people to work here and invest. Thus, starting a business here will not be time taking, the success will rather shoot up in less time!
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4. Exportation - Exports, combined with multiple opportunities, were one of the main catalysts for economic growth in Turkey. Thanks to its good connectivity, distinctive environment, and strong relations with its neighbors, Turkey is a prime place for many multinationals to locate their headquarters.
Turkey is a good country exporter because Turkish products are as good as Europeans, as cheap or a little cheap as Chinese, and as nice as Chinese products. Turkey also is a stable country with many international trade agreements, unions, and international organizations. Turkey also has a lot of commercial agreements. Another good reason to launch an export business in Turkey is the low export taxes in that country.
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5. Consumer Behaviour- The demographics of Turkish customers vary greatly in terms of age and cultural factors compared with those of European and Western consumers. As in Europe, however, most Turkish customers believe it is necessary to take care of themselves and follow the latest trend. As a result, although the demand for cosmetic surgery among mid-lives is increasing, interest in the usage of social media is increasing which alters consumer habits. There is also a tradition in Turkey of buying luxury items and technology, which encourages the use of credit cards to buy merchandise.
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We, at NPCS, endeavor to make business selection a simple and convenient step for any entrepreneur/start-up. Our expert team, by capitalizing on its dexterity and decade's long experience in the field, has created a list of profitable ventures for entrepreneurs who wish to diversify or venture. The list so mentioned is updated regularly to give you a regular dose of new emerging opportunities.
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