Major economic crises sometimes require drastic economic measures. However, it is not always like that. So far, we have seen that some countries have opened their markets for foreign investments. Turkey is one of the countries that have successfully resisted economic turbulence. Therefore, today, we are facing increasing interest from foreigners who would like to invest their money in doing business in Turkey.
However, many potential investors are still not sufficiently familiar with the conditions and legislation under which they can do business in Turkey – as well as with registering a company in this country. You can see everything you need to know about it in the text in front of you.
Investing In Business In Turkey
Although the world has seen and gone through many major economic crises – we are on the threshold of another, perhaps a slightly bigger one. In such situations, people involved in business should be rational and practical. And although it happens that some markets are practically closed or operate with minimal effect – some markets are flourishing in this period. In recent years, Turkey has become Mecca for new investors, and there are many reasons for this. Namely, the market of Turkey itself is large enough to receive foreign investors under its wing.
In addition, Turkey’s economic policy is such that they want to expand their market. That’s why it is not surprising that Turkey invests in businesses in other countries – but also enables investors to open their businesses in their country. In recent years, there has been a noticeable increase in the number of foreign businessmen who would like to expand their business or even transfer it to Turkey.
Why Is Turkey So Attractive For Business?
First, we can say the geographical position of Turkey is ideal for business. Economically speaking, the country that connects East and West, Asia and Europe – is an ideal environment for serious business people who see this as their chance for prosperity. On the other hand, this country made a significant effort to provide benefits for investors – by adapting its legal and economic legislation for both Turkish and foreign businessmen.
We can say the Turkish economy follows the slogan “Everybody happy” – which in practice has proven to be true because, in recent years, more and more foreign businesses have been launched in this country. Although until now, foreigners mostly tied their business to real estate, especially on the Turkish coast – this is no longer exclusive. Today, we have a situation where new foreign businesses in Turkey include many other industries, from trading to IT.
Foreigners Can Register a Company In Turkey Easily And Without Any Problems
If you have been thinking about Turkey as a place where you should start or expand your business – you should know some features related to registering a company in this country. Namely, compared to some other countries, Turkey offers you a large number of different support programs that help with the development of small and medium-sized companies.
The advantage Turkey offers you – is that these programs are not only available to Turkish companies, but also to foreigners. So, when you start a business in this country, you can expect the same privileges as company owners from Turkey. However, when we talk about corporate income taxes, the situation is partially different, which in a certain way is completely natural because the responsibility is also completely different.
Nevertheless, this market will bring you a lot of benefits, and you can reasonably expect to do your business well. What is very important for foreigners to know is the strict penal policy in case of “circumvention of the law”. Considering that the majority of foreign investors are not sufficiently familiar with Turkish legal norms regarding business – you should hire a professional consultant who can help you with it. For all information and help regarding company registration, business license renewal, and other questions you may have – ask accredited consultants at https://www.fo-consultancy.com/.
Decide On The Format Of Your Business
If you have already decided to set up your business in Turkey, you should find the best modus operandi when registering your company. Namely, you must know from the start whether you want to register your company as a small or medium-sized enterprise. Also, you need to know if you will register the company in Turkey or if you will just open a branch and operate as a holding company. All these features are of great importance because they affect how the procedure will be carried out, the fees that are paid on that occasion, as well as the way of money transfer, the way of taxation, etc.
Company Registration Procedure
The procedure for registering a company in Turkey is not too complicated, and there are certain benefits that you should take advantage of. For example, the forms for the memorandum or drafting of the company’s Statute of association – can be downloaded for free. Also, you can use the help of professional consultants who will prepare all the necessary documentation and take it for certification. Also, it is recommended you have insurance that will not expose you to a large expense but will be useful to you.
Also, keep in mind that when opening a company account, you must pay a deposit – and you need to register in the register books and the legal books for your company. If it seems to you that this is an extensive procedure, you can breathe a sigh of relief because it will only take a few days. Moreover, if you include a consulting company in the business of registering the company – the entire job will be twice as easy for you.
Best Sectors To Invest In
Modern Turkey can offer you many sectors in which you can start your business. However, three branches stood out in some sense. We have already mentioned the real estate market as a lucrative one. Also, you should pay attention to the rapid development of the IT industry in this country because it offers you many opportunities for rapid business growth. Finally, we have trading, heavy industry, and energy as economic branches that provide the opportunity for a successful business.