Why Invest in Turkiye
Though it is not a member of Europa Unity, Turkiye is attractive to foreign investors who think to found a company in one of the special investment areas. Besides, in Turkiye, national income is growing, and this situation shows that Turkiye’s economy raise. For example, while Turkiye national income is only 231 billion dollars, now it is 786 billion dollars.
Experts in the field of economics expect the Turkish economy to grow in the coming years and to be the fastest-growing country in the Organization for Economic Cooperation and Development (OECD).
Today, the Turkish economy is the 16th largest economy in the world and the sixth largest in Europe. Turkey managed to become the 13th country most preferred by foreign direct investment by attracting 123 billion USD from foreign investments in 2012.
A young and talented workforce
Foreign investors can also benefit from the local workforce – there are well-educated and talented people who want to work with foreign entrepreneurs of more than 28 million (a total population of 80 million). About half of the population is very young, under the age of 30, so Turkey is the country with the largest youth population among the EU countries.
In addition, Turkey’s infrastructure, especially transport and technology, is highly developed and maritime transport costs are low. This is a very important factor for investors who need to transport their products to important EU countries by different means of transportation.
Turkey is well connected with Europe through a wide energy terminal and corridor running from east to west and close to energy sources. Although Turkey is not yet a member of the EU, this country has a special customs union with the EU and free trade agreements signed with 22 countries.
There are more than 33,000 foreign companies in Turkey
Turkish authorities have removed many barriers to the development of foreign investment in the country and created an enabling environment for trade. Although Turkish officials say it only takes six days for a company to form, it can take up to two weeks for all the processes to be completed. Despite the establishment procedure, opportunities for foreign investors are important for the development of their businesses, so Turkey is definitely a country to invest in.
In Turkey, foreign investors are not discriminated against and everyone is treated equally. For this reason, Turkey hosts more than 33,000 companies opened by foreign citizens.
Investors establishing a company in private investment zones will pay 20% (instead of 33%) corporate income tax. They will be able to benefit from other tax advantages and incentives such as tax exemption.
Foreign entrepreneurs who want to learn more about establishing a company in Turkey can apply to the established agencies of our company. We also recommend that you contact The Power International as soon as possible, where you can get information about other essential investment regions in neighboring countries such as the UAE (Dubai).