Foreign investors interested in starting a business in Turkey can choose to open shops through which they can sell various products or services. Before opening a store in Turkey, one must know that the government enabled a new Retail Law in 2015 which covers most of the products sold in this country. The new regulations apply to Turkish stores selling fast-moving consumer products, electronics, foodstuff and even textiles. Also, all shops operating in the country must be registered with a new electronic information system, called PERBIS.
Our lawyers in Turkey can offer full information on the new Retail Law.
Turkey is made of both large cities and small towns, therefore there are plenty of choices when setting up a store here. The amount the investors is willing to use to create the business is also important, which is why the most common types of shops are established in Turkey are:
Franchises are also an option for those seeking to open a store in a Turkish mall.
No matter the type of shop one decides to open, it is advisable to request the legal advice of a lawyer in Turkey in order to make sure all compliance requirements are met.
Those interested in opening a shop in Turkey should know that 2016 was a very good year for the retail sector, as it continued growing thanks to investments made in Turkish companies by foreign businessmen but also because of advertisement campaigns.
Numbers indicate Turkish shops have registered a 28.5% increase in their income number during the last several years and further forecasts point to the fact that retail will register “a healthy growth” in the years to come.
If you want to open a shop a Turkey, our local law firm can assist you with the company registration procedure. In light of the new regulations imposed by the Retail Law, you should know that special provisions have been set in place for shops offering discounts.
For full information on the legislation imposed to stores and assistance in setting up a shop, please contact our Turkish law firm.