Why start a business in Turkey
Why start a business in TurkeyUpdated on Saturday 15th December 2018
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Turkey has become an attractive destination for foreign entrepreneurs willing to invest and expand their business abroad. The main reasons for investing in Turkey are the strategic location of the country, between Europe and Asia, a young and well-trained workforce and friendly environment for business. The volume of the foreign investments in Turkey increased 8.5 times in the last ten years compared to the entire ’80 decade and this country has become an emerging market such as Brazil, Russia, India and China – the BRIC countries.
Istanbul, the main city in Turkey, has attracted a half of the foreign investments in the last years due to its strategic location, being the single city in the world spread over two continents – Asia and Europe, good infrastructure and well-trained workforce. Investors also choose Ankara (the capital city), Izmir and Bursa for setting up companies, because these are the most developed and the biggest towns in Turkey.
Opportunities for businesses
This country is chosen by investors interested in opening a business in a recent industrialized country that offers many opportunities for development. You can develop a business in a field with a low competition, where there is a high market demand, and you will benefit from low costs with operating due to low wages for your employees and other facilities. You may take your business model from a developed country and implement it in Turkey where it can have a greater success. The initial costs for the investments will be lower than in other countries, such as those from western Europe.
The legislation related to foreign investments has changed in the last years and the business environment has become more friendly for foreign entrepreneurs. The procedures for opening a company are more simple and, if you contact a Turkish lawyer and ask him to handle the entire procedure, you will have a company ready for business in just a few days. The Turkish authorities offer great incentives for foreign investors and they can also benefit from a low taxation if they choose to start a business in a free zone.
If you need to know more about the business opportunities in Turkey, you may contact our law firm in Turkey that will help you with information and all you need for start doing business in this country. Our attorneys in Turkey will handle the entire procedure of company formation in order that you start your economic activity as soon as possible.