The Turkish British Chamber of Commerce and Industry can help you to start or promote your business in Turkey. In this section, you can find information about investing and incorporating companies in Turkey by foreign investors. You can also view here the assistance the Chamber can provide, a list of Company Formation Agents and links to other commercial service providers and government authorities. Please select from below:
» Investing in Turkey
» Overview of Business Types
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» Joint Stock Companies
» Commandite Companies
» Collective Companies
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Investing in Turkey
Foreign Investor
A foreign investor is company registered outside Turkey or a person who is not a Turkish national or a Turkish national residing outside Turkey.
New Turkish Investment Profile
Investment in Turkey has been made more appealing by the introduction of structural changes brought about by the enactment of the new Foreign Foreign Direct Investment Legislation. The main change is the move from the screening system to the facilitation and monitoring method. Two government agencies, the Inter-Governmental Coordination Committee and Investment Promotion Agency, have been set up to focus on the coordination and promotion of foreign investment.
These infrastructural developments have added to the investment attracting assets of Turkey, which has a large population of about 70 million, dynamic and fast developing economy, large domestic market, growing international investment, highly skilled and competitive labour, strong telecommunications and banking, and customs union and EU relations. Turkey also enjoys unique tourist attractions and has the potential of being a hub for the trade with Caucasian, Central Asian and Middle East countries.
Incentives for Investing in Turkey
Investment incentives include:
- Removal of the requirement of the pre-establishment ministerial approvals for company formation, entitling ‘Turkish Company’ status to all foreign investment based companies with the same rights of and obligations for Turkey based companies.
- Guarantee of the continuation of existing investment rights
- Conformity with international standards
- Broadening the definition of a foreign investor to include companies registered outside Turkey, non-Turkish nationals and Turkish nationals residing outside Turkey.
- Exemptions from customs duties, levies and VAT for imports of some machinery and equipments.
- A number of exemptions from income tax and social insurance contributions.
- Energy subsidies
- Incentives applicable in the Free Trade Zones, the export-oriented special industrial sites, including exemptions from corporate and income taxes for manufacturing companies, customs duty for goods imported from abroad and the removal of restrictions on the age or model of imported machinery.
- Protection against Expropriation, Guarantee of Transfers, Employment of Expatriates, Access to property and International Arbitration.
For further information on investing in Turkey, visit the web sites below: