The real estate industry is on a strong rebound these months in Turkey, as recent surveys show. During the first months of 2017, close to 130,000 properties were sold all over the country, thanks to a slight decrease in loan interests, but also to a series of tax incentives offered by the government to those purchasing real estate. Foreign investors interested in starting a business in the real estate industry can receive assistance from our law firm in Turkey.
E-commerce has become a global trend in our days and Turkish companies are orienting towards setting up their own platforms in order to reach more customers, according to a recent report issued by the Industry and Business Association (TÜSİAD). The same agency announces the e-commerce sector has a great growth potential if certain measures to help it would be undertaken by the authorities. Our lawyers in Turkey can offer more information on the legislation covering e-commerce.
The third month of 2017 brought the largest increase for the manufacturing sector since 2014, according to the Turkish National Statistics Institute. The Purchasing Managers’ Index (PMI) rose to 52.3 points last month, 2.6% higher than it was in February. The main increase surged from the higher output of manufacturing companies in Turkey. Our lawyers in Turkey can assist foreign enterprisers interested in investing in the manufacturing sector.
Trading companies in Turkey have been doing well if we consider the latest data issued by the Exporters’ Assembly of Turkey (TIM) which shows a spectacular increase in export numbers since the beginning of the year. On an annual basis, exports have rose by 19%, 6.7% higher than during the previous year. Foreign investors interested in setting up a trading company can obtain assistance from our law firm in Turkey.
Turkey wants to keep its connection with the United Kingdom once the latter exists the European Union, considering the important trading relations the two countries share within the EU. In order to achieve that, the Turkish minister for the economy stressed the importance of signing a free trade deal with the UK which should come into effect once Brexit is completed. Our Turkish lawyers can offer more information on the existing agreements between Turkey and the UK.
The automotive industry registered serious growth last year in Turkey and the statistics for the first two months of 2017 show the same positive trend, according to the Automotive Industry Association. Exports have also rose in this sector, contributing significantly to the country’s economy at the beginning of the year. Our lawyers in Turkey can assist foreign investors interested in setting up companies in this well-performing industry.
Making investments in Turkey has always been a suitable and interesting option for overseas businessmen who want to develop their activities in the real estate sector. Starting this year, the advantages are even more attractive in this domain because the government has eliminated the VAT for the first assets bought in Turkey by a foreign businessman. Our Turkish lawyers can provide you with information and details about taxation system in the country and can offer legal services when registering a company in Turkey.
It is well-known that Arab businessmen are always interested in investing in numerous countries worldwide where the economy is on the right track. Turkey makes no exception, and investments in Turkish real estate are prepared for 2017. A foreign financier needs complete and suitable information about the taxation system in the country, which is why we recommend the legal services of our lawyers in Turkey before making any movement.
If you plan to make investments in Turkey, you should know that the government is preparing different incentives for numerous projects. The VAT may also suffer changes so does the insurance for employees. Our Turkish lawyers are able to provide you with information and details about the legal services necessary for your company and about the rules and regulations connected to the foreign investments in Turkey.
According to recent analysis, Turkey is one of the most favorable real estate markets in Europe. Having a great location, between Central Asia, Middle East and Europe, Turkey offers important investment openings in the real estate sector, due to the flourishing trades and commercial developments.
Baklava is Turkey’s traditional sweet nutty pastry that accounts for an important part of its exports. During the last five years, the exports of baklava have increased substantially. Some 48 countries on six continents import this sweet product, but the United States is the top importer of traditional Turkish desserts. Dessert manufacturers in Turkey who choose to open a business that commercializes pastry can rely on this dessert’s popularity to increase the number of exports.
Credit rating agency Moody’s released a note describing the strengths of two important Turkish cities, Istanbul and Izmir. According to experts, these cities have a good self-financing ability and large investment programs are sustainable here. Istanbul is also one of the top locations used by foreign companies looking to do business in Turkey.
Turkey presents important opportunities for investments in solar and wind energy. Foreign investors from Germany are already planning to enter the Turkish solar energy market, with business opportunities being encouraged by a new issuance of licenses in June this year.
The Turkish economy is growing fast after a slow economic development; the fourth quarter of 2015 marked an impressive economic growth, which was established at a level above of the expectations expressed by international bodies. As such, foreign businessmen are advised to invest in this economy, as there are important business prospects in this sense. Entrepreneurs can request for assistance on this matter from our team of Turkish lawyers.
Investors interested in the Turkish energy sector can have very good business prospects in this sense, as the Turkish government is carrying out new strategies to further develop this industry. Foreign investors are encouraged to invest in Turkey through the measures which are imposed by several important bodies of the state, such as Ministry of Energy and Natural Resources or the Investment Support and Promotion Agency. Entrepreneurs who want open a company in Turkey can receive assistance on this subject from our team of Turkish lawyers.
Automotive industry in Turkey reached a new record in February 2016; as such, foreign businessmen who want to establish their business presence on the Turkish market are advised to invest in this field. Our team our Turkish lawyers can assist local and foreign entrepreneurs to open a company in Turkey; the lawyers can provide legal advice on various steps of the incorporation process and can help businessmen to receive permits and licenses required under the Turkish legislation.
New trade relationships will be established between Turkey and Iran, thus increasing economic development in the area. Foreign investors interested in the business opportunities that may arise from this new partnership can receive an in-depth presentation on the agreement from our team of Turkish lawyers.
Foreign investors interested in the Turkish business environment should know that, recently, the representatives of Turkey and South Korea have discussed on the development projects that will be created in Turkey, with the help of the Korean input. Entrepreneurs interested in setting up a company in Turkey are advised to invest in fields such as manufacturing or technology industries; according to the representative of South Korean, these industries will have a great impact on the Turkish economy; if you need further information on the business opportunities arising here, our Turkish law firm can assist you on this matter.
Turkey’s most developed cities are going through major development projects. The most important development projects are set up in Istanbul, which is the largest city in Turkey, with a population or more than 14 million inhabitants. Foreign investors interested in the infrastructure projects are advised to expand their business operations in Istanbul and in other major cities in Turkey. Our Turkish lawyers can provide you with more details on the infrastructure projects available here.
In the first seven months of 2015, Turkey received $9.71 billion as foreign investments and an important part of them - $3.39 billion – was registered in one month, July. The net figure for the foreign capital that entered Turkey was $7.4 billion in the first seven months of this year. The most foreign investors in Turkey came from the European Union, followed by entrepreneurs and companies from Asia.
Turkey and Russia have strong economic ties and a developed trade that could reach $100 billion due to the major projects implemented by the two countries. The engines of development for the trade between Turkey and Russia are Akkuyu nuclear power plant and Turkish Stream, as Alexei Meshkov, the Deputy Foreign Minister of Russia recently declared.