Establishing a Business in Turkey 

Turkey has a large consumer base with formidable purchasing power.

Turkey's regulatory environment is extremely business-friendly. You can establish a business in Turkey irrespective of nationality or place of residence. The registration and establishment of a company in Turkey can be completed in one day.

The process is handled by one ministry which acts as the coordinator between all authorities.

The first step in establishing a business in Turkey is to fill out the "Business Registration Form" at the local Trade Registry Office located at the local Chamber of Commerce.

Here are the steps to follow:

• Submit the notarized 'Articles of Association'.
• Deposit 0.04% of the capital into either a State Bank or the Turkish Central Bank.
• Complete the “Company Establishment Form” and register with the Trade Registry Office.

International companies may start their activities in Turkey in various forms depending on the investors' development strategies.

The most common types of legal entities in Turkey are:

• Limited Liability Company (Ltd.Sti.)
• Joint-Stock Company (A.S)
• Branch Office
• Liaison Office

 Why Invest In Turkey ?

The World Trade Organisation considers Turkey to be one of the most dynamic countries in Europe.

With its wonderful climate, charming towns and villages, golden beaches, wealth of history and friendly, hospitable people, Turkey is becoming increasingly popular for foreigners buying homes in the Mediterranean.

It's also a vibrant, thriving country which is proving to be an important new market for both European and international companies. Sony Ericsson has recently opened a new centre in Istanbul and many more businesses are recognising the potential of this emerging country and opening offices in Turkey.

What's more, with the country expected to join the European Union in 2012, there are more people than ever looking to buy property in Turkey and therefore the potential return on investment is enormous.

Last year alone, property prices rose by around 50%. The extra demand is sure to push prices even higher in the next few years. Investors who buy now can enjoy the benefit of an investment that should soon increase in value.

• Strategically situated - Turkey is close to Central Asia, the Middle East, North Africa and the European markets.
• Double Taxation - Agreements between Turkey and 39 other countries to promote and protect mutual investments.
• Liberal - A very liberal investment climate, including free (international) movement of capital, profits, dividends and salaries, free-trade zones and subsidies.
• EU membership - With progressive alignment with the main policies and standards of EU, Turkey is expected to join the EU in 2007 which should push property prices even higher.
• Tourism - In recent years, Turkey has become a major tourist destination in Europe. With the rapid development of both summer and winter resorts, more and more people from around the world cane to enjoy the history, culture, and beautiful sites the country has to offer.
• Emerging Market - A rapidly growing emerging market of 67 million people.
• Membership - A member of many multinational institutions (UN, NATO, OSCE,WTO,UNESCO etc.).
• Globally competitive and diligent workforce
• Low unemployment - Having a young population and high quality standards of education, the unemployment in Turkey is well below the current EU average of 11%.
• Healthy Economy - Healthy economic growth is predicted in 2005, thanks to the economic reforms of the Turkish government.

Advantages of investing in Turkey can be outlined as follows :

• A “Booming” country with cummulative GDP increase of 122 % over the last 4 years totaly more than 400 billion USD.
• A population of over 70 million,with an average age of 29.
• A fast growing domestic market.
• Turkey has the 4th largest,qualified,cost-effective and motivated labour force among the 27 european countries,with over 24,7 million people in 2006.
• Centrally located between Europe,Central Asia and the Middle East.
• An important energy terminal and corridor in Europe which connects East and West.
• In EU Customs Union since 1996 and accession country since october 2005.
• Institutionalized economy fueled by 20.2 billion USD of FDI in 2006 and ranked the 13th most attractive country in the world.
• Liberal and reformist investment climate with highly competitive inmvestment conditions.
• Dynamic and mature private sector with over 85 billion USD worth of exports and an increase of 240 % in the last 4 years.
• Turkey is considered to be a highly dynamic country by the World Trade organisation
• Stunning beaches and climate make it a very popular holiday destination
• Turkish summers are a lot longer than many other EU destinations offering more hours of sunshine per annum
• Turkey’s huge population creates a strong internal property market meaning investors are not reliant on international investors for resale.
• Over 25 million tourists visit Turkey each year boosting the property market and creating strong buy-to-let possibilities
• Low cost of living and long summers make it a favourite retirement spot for the Europeans