Setting Up a Business in Turkey

Setting Up a Business in Turkey

Establishing a business in Turkey is one of the most valuable options for foreign investors. Turkey has significant importance when it comes to trade due to its unique location between Europe, Asia and the Middle East. Therefore many international companies choose to open offices in Turkey.

Let us take a closer look at why this initiative, which also means making a new investment in Turkey, is Encouraging!

Why Set Up a Business in Turkey?

In addition to being a very strong country economically, socially, and politically, Turkey is a very dynamic country with a population of close to 85 million. Moreover, Turkish citizens are increasingly educated and stable, with unemployment in the country decreasing year by year. Also, the infrastructures of banking and communications have improved drastically, as well strengthening trade links with Europe and the Middle East. Therefore establishing a business in Turkey would be very beneficial to foreign investors.

To establish a new business and carry out economic activities in Turkey, foreign investors are given very valuable opportunities. In this sense, almost every investor who wants to invest in Turkey is recommended to direct their investments by using the right consulting services.

How to Create a New Business In Turkey?

As a foreign entrepreneur, it is recommended that you do thorough research about the topic and seek legal advice to invest in Turkey. The fact that the legal system in Turkey is quite comprehensive requires acting within the legal framework. It will be possible for you to establish a profitable and sustainable business in Turkey with the support of a legal advisor who knows the legal framework. In this regard, it is important to employ a legal advisor that knows the relevant laws in Turkey regarding setting up a business, and has helped previous investors to successfully set up a business.

What Kind of Business Can Foreigners Set Up in Turkey?

There are no restrictions on what kind of business foreigners who want to invest in Turkey can set up. Any business established within the framework of legal limits can be managed by foreigners. For this reason, it is necessary to mention that foreign investors have very wide opportunities in Turkey. Most foreigners tend to set up businesses that are easy to organise and run, such as shops, maintenance companies, bars, hotels, restaurants, estate agencies, and holiday letting companies. However there are a number of businesses foreigners cannot set up in Turkey without approval from the Ministry of Commerce and Industry. These businesses include foreign currency exchange offices, factoring, banking etc. Therefore it is important to get consultation from your legal advisor beforehand.

Citizenship by investment in Turkey

Investing in Turkey is a new job opportunity for foreigners, as well as very valuable in the name of obtaining citizenship. In accordance with the legal regulation implemented in 2018, it is stated that foreign investors who provide some conditions in Turkey can obtain Turkish citizenship. These conditions are as follows.

  • Employing 50 people in Turkey,
  • To make a capital investment worth $500,000 
  • Keep $500,000 in a bank account in Turkey.

Do you not want to become a Turkish citizen by providing one of these conditions?

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